html News on March 6: 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. Assistant Zhang Juyuan, COO of Panda Live, was also revealed to arrange new job needs for employees in the employee group.
A Panda Live employee revealed to Titanium Media that a week ago, the news that "the company is about to go bankrupt" began to circulate among employees. At the same time, the resigned employee did not have the "N+1" resignation treatment. He also said, "Maybe it is difficult for the company to even pay half a month's salary."
Then, Zhuang Minghao, who joined Panda Live as vice president, 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.
According to Weibo netizen @文小网站, Panda Live has cancelled all the company's benefits and the residence permit has been suspended; Jinhua branch has been dissolved, and customer service has resigned on Monday, with only review left, and will all resign on the 15th; Huya Live has begun to recruit people in the Panda Live Group.
Panda live broadcast is not without traces. According to Titanium Media, since 2018, Panda Live has been reported to have been owed to anchors’ wages, broken capital chain, and withdrawal of Wang Sicong .
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 Panda Live's latest financing is still in the B round, and it also has 1 billion yuan led by Xingzheng Capital in May 2017. 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 current employees, in 2018, Huya Live (Tencent) tried to acquire Panda and asked to replace senior executives, but Panda Live disagreed and the acquisition was not reached.
In response to the above issues, 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.
