Titanium Media News | March 6th News: At noon today, Panda Live’s employees broke the news on multiple channels that Panda Live will file for bankruptcy and will shut down the server on the 18th of this month, and employees will pay a unified compensation of half a month’s salary. The head of Panda Live HR department was also revealed to arrange new job needs for employees in the employee group.
A Panda Live employee revealed to Titanium Media, "Since May 2018, the company has lost money. A week ago, the news that the 'the company is about to go bankrupt' began to circulate among employees."
At the same time, he said that the resigned employees do not have the "N+1" resignation benefits, "maybe it will be difficult for the company to even pay half a month's salary." Regarding the matter of "Panda Live talks with Huya and NetEase about the acquisition", Panda Live's resignation employee said that Suning has also contacted them, but due to the wishes of senior management, it was finally settled.
Subsequently, Zhuang Minghao, who joined Panda Live as vice president in the early stage, responded to the matter and said that he had left Panda Live for a long time and did not understand the company's subsequent specific situation.
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Titanium Media Query Qixinbao Data shows that Shanghai Panda Interactive Entertainment Culture Co., Ltd. is still in a state of existence, and Wang Sicong is still the chairman.
Panda Live is in trouble and is not without traces. According to Titanium Media, since 2018, Panda Live has been reported to have been owed to anchors, the capital chain has been broken, and Wang Sicong withdraws his capital.
At the end of last year, an anchor broke the news to the media that Panda Live started to owed gift wages in August, and the period lasted for 4 months. At the beginning of this year, several Panda Live anchors terminated their contracts. As of now, there are still anchors whose salaries have not been settled.
On the other hand, Panda Live's financing is not smooth either. Public information shows that the latest financing of Panda Live is still in the B round, and it is still the 1 billion yuan led by Xingzheng Capital in May 2017. , and there were rumors at that time that Panda Live was looking for a buyer for 3 billion yuan, but the follow-up was left unresolved. According to Interface News, when Panda Live talked about the acquisition with Huya, Douyu and NetEase, it had already had a debt of more than 700 million yuan. Due to the high debt, the transaction had no results.
Panda Live COO Zhang Juyuan once said in an interview with the media in October last year that there are indeed problems with the platform, but the arrears are only between the funds delivery process and some details. He also said that a new round of financing for Panda Live is underway and is planned to be listed as early as 2019. But later, he admitted the difficulty of financing and said that Panda Live was about to start the construction of the VIE architecture. Until today's bankruptcy rumors spread, the above two tasks have not been completed.
, but as of press time, Panda Live has not responded positively to the rumor. The second round of elimination of the
live broadcast platform has already begun. This track, which burns money and plays more "barbaric", has huge demand for financing. The latest player to be eliminated is Quanmin Live founded by the rich second-generation Hou Geting. At the same time as this round of elimination, the two leading platforms, Huya and Douyu, are endlessly "love and killing each other".
html released its fourth quarter and full-year financial reports for 2018 on March 5, Huya Live, which has maintained profitability for five consecutive quarters. After its listing, Huya has accelerated its grabbing of popular anchors. Douyu's latest round of financing was a 4 billion round of E financing invested by Tencent in March last year. It is fast, accurate and ruthless in signing contracts between show anchors and e-sports teams, as well as the acquisition of advertising traffic, and seems to want to obtain new hematopoietic abilities through various attempts, such as the "live streaming + e-commerce" model. In the past six months, Douyu has been constantly rumored to be "coming to go to the United States for IPO.""The industry leader fights with the second, and is indeed injured by the third person" is already a well-known joke in the Internet circle. Compared with Huya and Douyu, Panda Live, known as the "high-paying retirement platform", is too Buddhist under the protection of Principal Wang's halo.According to Entertainment Capital Theory, live broadcast management and operation personnel allow anchors to swipe the amount of money. Panda operators, who claim to be "principal staff", are not concerned about anchor operations. Panda super management and anchors' Buddhist nature have also made Panda content lose its value.
small players were eliminated, and the increasingly distinct competitive landscape also represents the entry of the live broadcast industry into a mature stage. Regarding the norms of live broadcast behavior, Tencent, who has a big IP, also spoke. This year, it proposed 12 bad behaviors that are strictly prohibited. Last month, Tencent sued Xigua Video, saying that it carried out live broadcast of the game " Honor of Kings " without obtaining authorization, seriously infringing on Tencent's copyright and firing the first shot of the copyright of live games this year.
It seems that whether it is a live broadcast platform or live broadcast content, as investors of Douyu and Huya, the winner seems to be Tencent again. (Titan Media Editor Xiaohuangji Comprehensive Report)
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