On the list of known gold owners, there are two more head Internet companies. On August 12, Zhizhi announced the completion of the F round of financing with a total amount of US$434 million. Investors, including Fast Hand, Baidu, Tencent and so on, are the largest investments that Zhizhi has ever made.
Before completing the financing, the nine-year-old social Q&A community had received three Tencent investments and two Sogou financing. Knowing is a rare company to get four head Internet companies to invest in. Knowing content moat helps it get financial support from head enterprises, but financing does not directly help Knowing commercialization, Knowing that it still needs to figure out the path of large-scale liquidation.
Re-invest in giants
On August 12, Zhizhi announced the completion of the F round of financing, with a total amount of $434 million. This is the largest round of financing we have ever received, and it is also one of the largest in the field of Chinese Internet culture and entertainment in the past two years. Knowing that we will use this financing to speed up technology and product innovation, and continue to strengthen community ecological construction.
In addition to the amount of new highlights, the highlights of this round of financing also lie in investors: fast-hand lead investment, Baidu follow-up investment, Tencent and the original investors of todays capital continue to follow-up investment. In this list of gold owners, Fast Hand and Baidu are the first time to invest, Tencent is the fourth time to invest, and Sogou, another industry investor, is the second time to invest in China in 2015 and 2017, respectively.
According to public information, it is known that since the C? Round of financing, almost every financing has the participation of industrial investors. Industry insiders acknowledge that the attraction of knowledge to head Internet companies lies in content accumulation and users.
According to official data, as of January 2019, there were 220 million users, 380,000 topics and 130 million answers. Through the figures, Zhang Yi, CEO of Ai Media Consulting, sees a product that has served C-end for many years. He believes that the fierce competition of the mobile Internet gives platforms little opportunity to build or cultivate a large-scale toC product, and the scarcity of the supply side makes it possible to obtain investment from a number of head Internet companies. In a sense, industry investors bet on the layout of the future.
Zhouyuan, founder and CEO of Zhizhi, said: Capital adds confidence and motivation, and knows that it will shoulder more responsibilities and expectations. Knowing that it will continue to develop independently and firmly towards its own Polaris. In the future, we know that we will work closely with Fast Hand and Baidu to discover, disseminate and upgrade high-quality content, and continue to strengthen community ecological construction.
Competition and Balance
After publicizing the financing, the cooperation with investors was announced. Baidu announced that hundreds of millions of high-quality questions and answers will be accessed to Baidu App in the form of smart applets, and hundreds of millions of users of Baidu App will be open to the public. In addition to smart apps, Baidu will also personalize its knowledge of high-quality content to users with different interests through AI technology in product matrices such as Baidu Search and Information Flow.
Increasing content richness is the main purpose of Baidu Access. However, Zhizhi is not Baidus only content provider. Baijia number, Baidu experience, Baidu Encyclopedia and so on are the sources of Baidu content. Baidu also knows Baidu which belongs to question and answer products.
It can be said that Baidus products can replace the knowledgeable, the two sides are not just capital cooperation so simple. Zhang Yi even thinks that on the basis of investments made by Sogou and Tencent, it is a balancing method to know and get Baidus investment again.
In the search business, Baidu and Sogou are old rivals. Baidu and Weixin are fighting in the small program track. The competition between investors and investors is very complicated.
Similarly, there are many examples of head-end Internet enterprises investing and the competitive relationship between investors. Xiao Hongshu and B station are the representatives. Both of them have been invested by Ali and Tencent, but Xiaohongshus e-commerce business has a competitive relationship with Tianmao International. Station B and Tencents Bodong planet are secondary communities. Such investment plans are not only as simple as the leaders in the vertical field getting the giants funds and resources, but also the giants desire to control the same track and the balancing measures of the Mesozoic enterprises.
However, Zhang Yi believes that realisation is the biggest problem for shareholders who do not need to think too much about the competition between shareholders.
Exploration of Continuing Commercialization
Commercialization is an indispensable topic and the focus of nearly two yearsexploration.
As for commercialization, no specific data has been disclosed. According to the information disclosed by Zhang Rongle, Vice President and Head of Member Business Department in late July, Knowing that the introduction of Salt Selected Members in March has made a significant contribution to Knowing Business, and the size of Knowing Members and the total amount of paid income have maintained a rapid increase. It can be said that Salt Selected Members and advertising business have become two major directions of commercialization.
Advertising and paid services are also the direction of other content platforms. The basis for realizing these two businesses is the size of users. Because of the early invitation system and the limited size of users, the rhythm of realizing these two businesses is relatively slow, Zhang said.
After the opening up of the community, Zhizhi ushered in a new round of doubts: the expansion of user size has changed the content and atmosphere of Zhizhi community. According to the trend of rapid growth in the number of users in second and third-tier cities and the increasing proportion of young users, it is difficult to continue elite operation.
To this end, the solution is to launch a salt value system for users, define the growth of usersknowledge from five dimensions, and open the green channel, public editing and weighting against the three rights and interests of users with high salt value. For the creator to provide a variety of tools to promote revenue.
Knowing that commercialization requires a lot of preliminary work, each step needs to be slow-tuned, or even standard-building. In order to ensure the quality of content, Zhihu also started to co-produce content, and the private piano lesson with Lang Lang is a representative product. In terms of the balance of content quality, user experience and commercialization process, we still need to explore.
Exploration is worth affirming, and the team needs motivation. In Zhang Yis view, Knowing you need money to support exploration and motivate your team. Capital cooperation with the giants can help to combine upstream and downstream information, integrate resources with Baidu, Tencent and Fast Hand platforms, let the investors know the layout of the portfolio products and endorse the information, but getting the investment from the giants is not directly helpful to the realization of the information.
Wei Wei, reporter of Beijing Business Daily
Source: Wang Fengzhi_NT2541, Responsible Editor of Beijing Business Daily