Wall Street News: An entrepreneurial story of financing in the toilet He is Wu Xiaopeng, CEO of the new financial media Wall Street News.

I call him a Wall Street financial detective.

He was previously a financial reporter based in the United States for 21st Century Business Herald.

This is an entrepreneurial story of financing in the toilet.

It is the story of a financial reporter’s self-redemption.

Wu Xiaopeng said: "They are all busy being bearish, but we insist on going long."

News still creates value.

? Let’s first look at a section of Xiaopeng’s VCR readme.

After we met and chatted with the three bosses of Ping An Venture Capital for the first time, they went to the toilet for a while and came back and said, "Today we will make an offer, but there is one condition. Either you accept the offer on the spot, or

We won't vote.

? Next, the other two partners and I ran to the bathroom to discuss, but we felt that neither option was acceptable, because another good company would give a quote in two days, and we at least wanted to compare it.

Compare.

In the end, we held it in the toilet for half an hour, and investors came to urge us before we came up with the third plan. "Today we go home directly and don't listen to Ping An's quotation."

? Later, another company made an offer of 60 million yuan, but they wanted to acquire 100% of the company.

I spent the next two days restless and sleepless, and finally decided that I still wanted to do my own thing.

Most of the team members who have been with me for over two years would have little to gain if they were acquired.

In addition, I am also a high-risk person. The road to independent development will be much more difficult, but this kind of life is more interesting.

At that time, one of the country's top financial media was also interested in taking a stake, but we had not yet established a company at that time, and the other party was from a state-owned enterprise background. We may encounter some problems in registering the company and employee incentive system.

In the end, we chose Ping An Venture Capital to be our institutional angel.

I quoted a price and Ping An agreed.

To this day, we still don’t know what price they negotiated in the toilet.

Original intention of starting a business Wall Street News was originally a personal blog, founded in November 2010. At that time, I was a reporter in New York for the 21st Century Business Herald (hereinafter referred to as 21), responsible for reporting on the U.S. economy and financial markets.

21 is China’s first market-oriented media to expand internationally. I have a background in journalism and English, so I was fortunate to be the first overseas reporter stationed on Wall Street in April 2008.

I was 24 years old that year.

What newspapers want most overseas is high-end interviews, so during the past five years of stationing on Wall Street, I have interviewed financial figures such as Bernanke, Geithner, Buffett, and Gross.

But I gradually discovered that there are more valuable things to do than high-end interviews, that is, the most important financial news in the world is rarely known in China! In the past few years, the quantitative easing (QE) of major Western central banks such as the Federal Reserve has

Monetary policy dominates financial market trends, and any changes in policy may cause severe fluctuations in all markets.

But in the first few years, these policies were not reported in China's mainstream financial media, or were nearly ignored.

In the public financial public opinion space, almost no one discusses these most important issues.

Due to the timeliness of newspapers, 21 is also difficult to operate on these major news topics.

For example, the U.S. government releases employment data for last month on the first Friday of every month. This is the most exciting and nervous day for global investors every month, because the employment data will determine the next step of the QE policy, which is likely to happen.

Become a major turning point for all markets around the world.

But when this data was released, the newspaper had already passed its deadline on Friday, and it would not be published until next Tuesday at the earliest.

Any movement on these policies should immediately alert Chinese investors, so I founded the Wall Street Insights website, hoping to help investors better understand the world we live in.

After a month, we received good user feedback.

A management member of China International Capital Corporation, the best investment bank in China, wrote a letter of encouragement, saying that he had sent an email to 500 colleagues in the sales and trading department of CICC around the world, recommending them to read this website every day.

Fu Peng, chief macroeconomic advisor of Galaxy Futures, later said that many of the middle and senior management of various domestic financial institutions are loyal users of Wall Street Insights.

Financing Story The initial cost of the website is the article fee and server fee.

Among them, royalties accounted for the bulk, with royalties amounting to more than 100,000 yuan in the first year.

At the beginning, the number of visits was small, and the server fee was only a few thousand yuan a year.

I think this thing is valuable and I didn’t hesitate much when I invested in it initially.

But in the second year of development, the website traffic increased rapidly, and the total monthly cost increased to 20,000 to 30,000 yuan. I also invested hundreds of thousands in this project, and I could no longer support it with my personal financial resources.

At this time we did two things.