Author: people often succeed because of similar efforts, but they fail because of different treatment. Companies that have risen rapidly and remain high-profile have always had some of the same genes, and companies that have fallen from peak to trough have always declined because of different factors.
Renren has a lot to do with the late 90s, which seem to exist only in sentimental memories. It was in the parking looting, stealing food era brought us the passions, but now the renren.com account in the hands of everyone on who to contact with their friends, almost surely have been offline for long. Years later, when we look back, we find that it is "scandal ridden"". Whether the investment fails, the sale of assets, no high-rise, or restructuring fails, revenue / profit slump, it makes one wonder whether this is at its peak in the Nasdaq market capitalization behind Baidu and other Internet giants everyone. In a few short years, exactly how to make everyone from the peak period of 5 billion 530 million U. S. dollar market capitalization fell to the current market value of $1 billion 250 million, presumably many people are interested in the topic.
all comes from an unbearable nosedive,
before sigh, let us first look at a set of data: this year all the company’s earnings in the first quarter, the total net revenues of $24 million 900 thousand, down 39% over last year, the net gaming revenues $12 million 700 thousand, compared with the same period last year fell 52.5%; gross profit was $8 million 700 thousand, compared with the same period last year fell 65.2%; operation a loss of $29 million 200 thousand…… Although the trappings of fame still exists, but the cruel reality, let this once more the social networking giant.
this time, everyone’s high-level infighting chaos was opened, beginning from the strategic development vice president Du Yue’s resignation letter began. In this brief English letter, Du Yue, "from leadership to people are very negative", directly rebuked Renren chairman Chen Yizhou, and even in the end to "I QUIT" (my resignation) to highlight their attitudes. This is the first time in the history of domestic executives turnover. Subsequently, many senior news fighting continues to be exposed — Chen Yizhou and veteran entrepreneurs, in charge of the campus channel’s vice president Yang Muhan (former deputy general Xu Zhaojun husband) pinch, accused Yang Muhan of public and private rights, Yang Muhan then also from renren.com turnover; in addition to Du Yue and Yang Muhan, then there are two vice president will leave…… There will be a month of four executives leave, which is listed in the domestic Internet Co, not unique but also is absolutely unprecedented. This also makes this deep on all kinds of negative rumors, constantly internal employees, people suffer from scattered.
in this article, the author does not intend to judge Chen Yizhou as a person, but a lot of internal reports are directed at Chen Yizhou’s situation, or people sigh in their glory when the support of the huge contrast. And this behind – improper use seems to be gradually interpreted by outsiders