Behind the thunderstorm of Tiantian Jianbao: the founder lost contact, who will pay the 40 million arrears?

Behind the thunderstorm of Tiantian Jianbao: the founder lost contact, who will pay the 40 million arrears? https://whatchinareads.com/article/?uid=9dcc6350f35511ec9896c7030b3aab5e

2022-06-24: [Article Link]  As the head platform of the video-player, Tianchibao went out with a funny identification video and got five rounds of financing, but now the star company has heard news of a thunderstorm running and the founder's failure to connect. More than 600 businesses and more than 300 employees were in arrears for a total of more than 40 million yuan, and many times failed to collect their debts, and no trace of Wang Yi has been found to date. Articles: Leopard, author: Moni Zhang, editor: Liu Yang In recent days, the TV platform has been exposed to thunderstorms. Several former employees, platform vendors, have revealed to Leopard that more than 600 businesses and more than 300 employees are owed more than $40 million due to poor financing. With a funny, free-of-charge identification video, SkyScreen has millions of fans in the air, and is the MCN agency with the largest flow in the cultural world, with users calling it the “Dewin Society of the Treasure World”. In 2022, after receiving five rounds of finance, the microcosm closed the door to the Hong Kong junction. As a head player, Tin Chi Sebao also completed five rounds of finance in just two years, but it led to another very different path. In May 2021, fate took its toll. According to an internal video from the interviewee, the founder of Tianxian Szebao, Wang Yi, made an internal statement stating that the company had planned to finance the company in May 2021, and that it would have been able to pay in July and September at the earliest, but that it had not signed the contract. In May 2021, the payment settlement cycle for some of the live-broadcast vendors began to be extended, and the shipping warehouse was shut down. Many suspected that, before the official thunderstorms, Tin Chibao had “planned” a series of exits, including temporary replacement of legal persons and clearing of back-office data in order to avoid subsequent economic and legal liability. Businesses and employees have done nothing for many times. Why did the former star company collapse? How did the founder, Wang I, live his life? Businesses, employees, no rights. In October 2019, Wu Lei of Yunnan Ri-Li officially entered Tian Zhibao, where he had two euphemisms on the platform, with an annual turnover of approximately 30,000,000 Yuan, who belonged to the platform's head shop. In accordance with the rules of the Tin Chi Treasure, when the goods are purchased by the user, the vendor is required to send them to the Quality Review Centre and then to the user after the Tian Chi Po Base has been identified; normally, the vendor has a payment settlement period of 7 to 10 days. He enquired about Tin Chibao and first received a response that the company's financial chain had broken, that the top was looking for financing solutions and that a small portion of the money was being settled. By December 2021, he couldn't pay a penny, and Wu Lei's unsettled sum had accumulated to 20,000 Yuan. He said to Leopard, "I couldn't find a platform for an interview because of the epidemic, and it's been delayed until the end of last year." Wu Lei recalled that there are currently eight live studios for the sale of emerald stones on the platform, that he owns two, that he knows all the other businesses and that basically everyone owes more than 500,000 Yuan. The shipment has also become abnormal since December of last year. Wu Lei told Leopard that Tianchibao had storage points in Reilly, the Fourth Conference, Beijing, and the East China Sea, but in December of last year the warehouse also stopped paying and was unable to function properly, and the platform asked the merchants to deliver the goods themselves. Li Liang, a former employee, revealed that the company had left most of its employees in December for lack of money and salary arrears, and that the platform was largely empty. In an effort to delay the thunderstorm, the company forced businesses to continue to do so on the grounds of “non-refunds without broadcasting”. According to a survey carried out by the company, Tianchibao has received five rounds of financing, including from the Ether Fund, one capital, blue capital, clean capital, bytes, etc. But after April 2020, no new financing news has been sent. “The financing failed in May 2021. From May last year to May this year, the APP shut down, delaying us for a whole year. “Huu, a businessman, remembers that, beginning in September 2021, two of his shops were underpaid, and the platform was settling small sums of about $100, “things of tens of thousands of dollars are not coming to us, and it was discovered that this was a way of delaying. In January 2022, ATI left from Guangdong and went to Beijing General Company, Tianchi Szebao, where he received more than half a million dollars from the founder, King I. Wang I also negotiated a repayment plan with him, promised to reimburse him every other week or so, and asked the head shopper to continue broadcasting live, otherwise the platform would be on the verge of thunderstorms. “We didn't want the platform to die, we aired it for another three months in a state of loss.” But the platform did not pay him off at all for the three months, nor did the negotiated repayments materialize, and some fans even confiscated the goods after buying them on the air. As of now, the outstanding amount of AIE’s goods is still as high as 920,000 Yuan, which was supposed to be settled with the owner and his employees. In order to fill a million-dollar debt hole, and not to destroy his reputations in the circle, AIE sold his father’s rural yard and his own town’s house. One businessman estimated that Tianchibao owed more than 600 businesses, amounting to more than 20 million. These businesses are divided into merchants and telecasters, who owe more than 50,000 Yuan and usually 100,000 Yuan. In recent months, a number of consumers have said that they have seized the goods and have not been able to contact them. On Black Cat's complaints platform, a number of consumers have complained that the purchase platform has not been delivered, that the APP has been unable to log in, and that it has not been able to see the order. According to Li Liang, there are about 300 employees who are currently in arrears, and most of them are in arrears for three months, amounting to around 20 million Yuan. She said that starting in October of last year, Tianchibao would not pay his employees. On October 28, two employees and management Wang Yi and Wang Li, who had been comforting, said that the company, despite its difficulties, would only be delayed and would not be in arrears. In December of last year, the company began downsizing, with a full-time letter issued on 29 December 2021 stating that it had been forced to lay off because of the downside of the Internet environment and the epidemic in 2021, which hampered the expansion of its operations, as well as the volatility of its financing. With regard to salary arrears, Wang I has proposed a mediation programme in which he consults with the employee to pay 10 per cent of the employee's monthly salary starting on 10 March 2022, on a monthly basis. A further 100 employees who did not accept mediation chose to continue the labour arbitration process. At present, however, none of the 300 employees whose wages were in arrears were paid back, and the promise to pay 10% per month was not fulfilled. Leopard notes that the APP and sub-procedures have not been able to locate any commodity data. A premeditated exit? Before the thunderstorm, Tianxiangbao temporarily replaced the legal person, and suddenly emptied the back office data and returned some of the investors’ money. According to business and employees, Wang Yi’s loss was called “step-by-step.” The company is run by Henan Tanya Network Science and Technology Ltd., which was established in November 2018 and is registered for $30,000,000. Of these, 100 per cent are held by Beijing Ideal Technology Ltd. The company's legal entity is Kwok Shibo, with four shareholders: Wang I, Wang Hong Man, and Hangzhou Hari Enterprise Management Consulting Co. Ltd. and Joo Hae-yun Enterprises Management Co. Ltd., in which Wang I and Wang Hong Man hold 79.84 per cent and 19.96 per cent respectively. As of the time of publication, there are 12 reports of persons who have been executed by the company, totalling 537,000 Yuan. In addition, Beijing Elite Technologies Ltd. was placed on the business anomaly list on 23 May 2022 because it could not be contacted through a registered residence or place of business. Businesses suspected that the company's founder, Wang I, was premeditatingly withdrawing from his legal relationship, and that the changed legal person, Guo Shibo, was in fact a scapegoat. According to the investigation, on 6 December 2021, Beijing's legal representative was transformed from the co-founder, Wang Shoi, to Guo Shibo, who had contacted Guo on the telephone and who responded that he was doing a taxi business at Zhang's house in Hebei, after a friend of Beijing had borrowed his identity card and, in return, he had received a reward of 3,000 Yuan. According to an information provided by Li Liang, on 23 December 2021, the investors of Chitensaku submitted an application for an investor's refund in the amount of 2,856,000 Yuan, from the Jinan China Private Equity Investment Management Centre. One businessman revealed that in May this year they organized a group of 400 defenders to discuss how to collect relevant information and evidence and to keep an IP and back-office data screen in the APP. I didn't think that night, the APP back-office server was shut down and the data was empty. “We suspect that the people with the treasures are in the crowd, and we can't get the money, the money, the money. According to the company’s search, Wang is a continuous entrepreneur who has previously founded Shanghai Soft Software and Technology Ltd., thousands of feet, and today’s beauty, among other things. According to media reports, Wang I dropped out of college in 2002 as a hand-by-hand and SP, after which he developed a “one thousand-foot download” of cellular applications from the Seban system. After a thousand feet, he founded a cosmetics electrician who is beautiful today, but in 2012 the company was forced to shut down because of a broken cash flow. In a few months, Wang chose to start a business again, opening a pawnshop. By 2018, Wang I had reappeared in public view, his identity had become the real chain Real Chain investor. At the same time, he had indicated to the media that he intended to make an artificial smart hardware based on block chain technology for the identification of high-end consumer goods. Since then, Wang has founded the Tianxiang Treasure, which, according to media reports, took only nine months to reach its monthly sales of over one billion dollars in July 2019. One year later, Tianchibao's single-day sales went up by 20 million, and Tian Chibao also carried the goods live on a tremor, and made 38 live deliveries in 30 days, with a total value of 24611,000 Yuan. But the story turns again, and when the company completes the B-round financing, it goes downhill. “Only one head company is now profitable, and all the others pay for it.” A businessman is impressed. According to some of the employees, SkyScreen was still in the air, and the account number was changed after it was reported by the employees. At present, the two accounts of “App of Tianxian Scientology” and “Exploited Jewellery of Tian Scientology” have been renamed “Supreme Jewellery of Wiseness” and “Supreme Jewellery of Heidong” and the company Blue V certification has been cancelled. Chaos management. After more than two years of cooperation, Wu Lei felt “managing chaos” when he remembered that every time his own shop was settled with a misalignment, two or three million or even hundreds of thousands were missed, even though he had warned many times about the financial miscalculation. In his view, the management of SkyScreen's live broadcasts is highly irregular. There is a strict set of rules, such as not to swear, not to record. If you break the rules, you lose points and limit the flow. But the sky was different, and Wu Lei said, "The platform is sealed, like the mountain king, and you call the director of operations and you unsealed it. You don't have a specific reason to seal it, and you don't have an unsealed seal." When businesses need support or help, it is difficult for the platform to give useful advice. Wang I is like the mascot of the company. A businessman, Ai-Hu, said that a financial director worked on the platform for eight months, and saw Wang I not more than three times. Many executives said that Wang I would not go to the company once a month, leave everything to the departments and not manage it effectively. Wang I and another management member, Wang Li Liang, are being called “the king” inside the company. Li Liang said that Wang's high school education, a bit of a river, and his brother-in-law, who is very well socialized, has a very high level of love, and that one person can make a good deal of business and external relations. Brother culture has always been a key word in Wang I’s entrepreneurship process. When he founded today’s beauty, Wang I once said to the press, “We're a pawn shop, and we're all like the brothers who worship each other.” He called the office of his own pawn shop the “Store House”, the conference room the “Crown Hall” and the market centre the “China military account”, and each of their teams singled out one of their favorite trio characters for their name. To some extent, this culture has become a stumbling block for Wangichi's start-up. Li Liang says, "You can only use your own eyes, your temper, not so important to your talents and abilities, whether this person is fit or not, but whether you like it or not." He also revealed that the company's weak performance at the operational level, the drop in daily life from 100,000 to 20,000, the poor functionality and interface, the inconvenience of users, the lack of attention from management and the lack of demand for product sector modifications, led to a decline in the PPP City GMV. In the absence of proper mastership, Wang I has focused on the tailor-made and sea-going business of Yuhish, so that he does not attract the right talent, benevolent and unexecutable. At the strategic level, there have also been many mistakes by Tin Chi Po: "The 2020 platform is still excellent, and it's done free of charge. They also make real money through live + validation operations, but then they start to develop communities and small business towns, and these two businesses suffer significant losses, which may be one of the main reasons for the final bankruptcy of the treasure. Internal disruptions gradually spread to users and collaborators. A number of associates told Leopard that there was a serious loss of technical experts, who were known in the early circle because they were “unable to management” and left the platform. There are also bad traders, salesmen, who prefer to add their clients to their own private customers, who feel that their personal information has been leaked, and who are less and less impressed by the platform. More than a month has passed since the Tianxiang Treasure, a businessman and employee who has not contacted Wang I. The founder has gone nowhere but a mystery that no one can solve. According to China’s implementation of the Information Open Network, Wang I is currently without any information on enforcement and no restrictions on high consumption and any information on discrediting. Businesses seeking money are still struggling, and workers and users who have suffered losses are still struggling.