The management of Seventh Avenue was thoroughly "swum"

Summary: View the latest quotes yesterday, a swim in the internal Mail showed that Seventh Avenue COO (Chief Operating Officer) Meng, CPO (chief product officer) and the Divine Comedy studio responsible for the separation of Humic. At this point, the founding team of the Seventh Avenue has all gone away, running before

View the latest quotes

Yesterday, a swim in the internal Mail showed that Seventh Avenue COO (COO) Meng, CPO (chief product officer) and the Divine Comedy studio responsible for the separation of Humic.

At this point, the founding team of the Seventh Avenue has gone all the separate path. On the other hand, the management of the Seventh Avenue was thoroughly "swum".

Chess one Step wrong

It is noteworthy that the runaway Seventh Avenue executives have all continued to engage in the gaming industry and work on research and development. What motivates them to give up their lucrative treatment and rich gaming resources? It's going to start when the swim has not yet come together with Seventh Avenue.

Seventh Avenue founder Cao Kai at that time had two targets, one is to be a listed company, the second is in Shenzhen building block. But his Cao Kai and his team's knowledge of the capital markets are completely nil. Although the founder's team, including him, wanted to make Seventh Avenue a public company, none of them knew how to prepare for the IPO.

Just at this time, successive two companies of the successful IPO Sohu to the Cao Kai vision. And the lack of travel in the field of tourism is also an urgent need to buy a more successful page tour company to improve their valuations, two of hit came together.

Cao Kai A mistaken understanding of the deal, he thought the tour was a more game-backed dollar fund investor, in his eyes, a "financial investment".

Until around September 2012, one months after submitting the IPO prospectus to the US Securities and Exchange Commission (SEC) in a confidential manner, Cao Kai felt it was time to "return control", but the swim was clearly not agreed. "A control in the end" of the swim to let Cao Kai see, they have already become a professional manager holding shares.

Since then, the founding team of Seventh Avenue has been caught in the scramble for a stake in the cruise. This is the main reason why the game has not been developed like the Divine Comedy, the Pinball Hall, after Seventh Avenue.

Until May 2013, the tour proposed completion of the Seventh Avenue in advance of all acquisitions, let Cao Kai completely disheartened, proposed resignation. Cao Kai has explained that the content production company after the listing, it is difficult to use the energy to play the game, and become capital operation as the core, contrary to their original intention.

People close to the situation said the total price of all shares discounted after Cao Kai's departure was less than the amount of cash on Seventh Avenue before the tour. It can also be said that Cao Kai used his own money to sell the company he founded himself.

The "Limbo" of swimming

With the departure of the core figure of the Seventh Avenue and the Cao Kai of control over the past year, the Seventh Avenue research and development capability has been lost.

But a dip has been made on Seventh Avenue. Before leaving the Cao Kai, Seventh Avenue revenue was pulled up to 216 million yuan in the first quarter of 2013, accounting for 21% of the total revenue.

Although Seventh Avenue has been changing, but in the eye of the tour, Seventh Avenue has never changed the role: 1. To make up their business weaknesses; 2. Raise your own valuations. To become a wholly owned subsidiary of the Seventh Avenue to complete the historic mission, has gradually become a tour is not how to care about that part.

The people familiar with the matter also believe that the swim has not worried about the seventh avenue of the revenue problem, belong to a kind of earned better, do not earn or so-called state.

In addition, Seventh Avenue was snubbed from the appointment of personnel can also be reflected. Although the management of the Seventh Avenue has been thoroughly swum, but the management of the tour arrangement is not an expert.

For example, Wang Shu, the president of the Seventh Avenue from a cruise, in the tour of the Tourism Research and Development Division as General manager has been 3 years, the management of more than 300 people's research and development team, but has not launched a resounding product, but is the Seventh Avenue in the page tour contribution, become a tour of this business fig leaf.

Gaming industry observer Zheng also believes that the Seventh Avenue has become a tour of the backyard "limbo." At the same time, he predicted that the founder of the Seventh Avenue team will continue to join the gaming industry after the departure.