Even if he lived another life, Chen Pingjiang could remain calm about most things, but that didn't include ringing the bell for an IPO.
It's no exaggeration to say that the current feeling is truly like having the world in his hands.
In a few years, Chen Pingjiang might not even dare to come to the US, fearing that a slight misstep would mean he couldn't return.
Although most Renrenwang employees couldn't physically participate in the bell-ringing ceremony on-site, Chen Pingjiang thoughtfully arranged a celebratory ceremony in Dongjiang, with the bell ringing simultaneously with the Nasdaq Stock Market.
Dongjiang and New York were connected, broadcasting the IPO ceremony live to all Renrenwang and Weibo users.
In Dongjiang, Chen Pingjiang's relatives and friends, leaders from various levels of the Dongjiang government, partners, investors, and many loyal Renrenwang users were invited.
"It's already past 10 PM, why is it only being broadcast live now? Didn't they say the market doesn't open during the day?"
"The person upstairs is clearly a newbie. Renrenwang is listed on Nasdaq, where the market opens at 9:30 AM, which is 10:30 PM in domestic time."
"So excited! Now I'm just waiting for my husband to become the richest man and then marry me."
"Beauty upstairs, Chen Pingjiang won't fancy you. How about considering me instead?"
"Hey, hey, he's out, he's out! Chen Pingjiang is coming out to speak."
At 9:20 AM ET, Chen Pingjiang, Chairman of Renren Group, took the stage to deliver a speech, envisioning a bright future for Renrenwang.
Subsequently, Renrenwang's executive team, accompanying companies, and guests took the stage together, cheering, applauding, and taking group photos.
Corporate promotional photos and the live bell-ringing ceremony in the studio were broadcast worldwide on the world's largest screen – the Nasdaq Exchange big screen, with major well-known foreign media such as Bloomberg, CCTV, and CNBC retransmitting and reporting.
Interestingly, when everyone thought Chen Pingjiang would ring the bell, the media received the answer that six mysterious guests would ring it, instantly piquing netizens' curiosity about these six mysterious bell-ringers.
The mysterious guests who came to ring the bell on-site included Tian Gao, the first user to post on Renrenwang, and also an ordinary student from Dongjiang University of Finance and Economics.
Although he had graduated, Renrenwang still funded his invitation.
The second mysterious guest, Wu Huiyi, was an ordinary Weibo user who had won a grand prize in a lucky draw organized by Weibo.
Among the other mysterious guests were loyal DNF players, users with the most posts on Renrenwang, and lucky employees from within the company.
When the time came, they simultaneously pressed the button, and bells rang simultaneously in two locations across the ocean.
Renrenwang's IPO attracted enthusiastic pursuit from global investors!
"Those six people are so lucky; most people won't get such an opportunity in their entire lives."
"More than just lucky, their round-trip airfare, accommodation, and meals were all covered, and Renrenwang even arranged a seven-day travel itinerary."
"..."
As expected, Renrenwang opened at $45, a 40.6% surge from its offering price of $32, and its stock price subsequently soared.
"It's over, it's over, it broke below the issue price, all green."
"Haha, you upstairs think this is A-shares, American stock prices rising are represented by green."
"Renrenwang succeeded! Who knows how many billionaires and multimillionaires will be created tonight."
"Awesome, opening so high, investor demand is so strong."
"Looking at this momentum, it wouldn't be surprising if it rose to 60% by closing."
"You're being conservative, brother, think bigger."
After the bell-ringing ceremony, Chen Pingjiang led his large group to the famous Buffett Steakhouse – Smith & Wollensky Steakhouse, where a separate bell-ringing celebration ceremony and gala dinner were held.
Everyone held the champagne bottles, and finally, Chen Pingjiang "popped" open a cork, and sweet champagne instantly sprayed everywhere.
Chen Pingjiang raised his glass and said,
"Thank you everyone for accompanying us throughout the past three years, thank you to all users for supporting Renrenwang, and thank you to all colleagues for your hard work. It is because of you that we have today's glory. I hope we continue this momentum in the next three years."
The celebration ceremony was brief, with many people present.
After dining, everyone returned to the hotel in the afternoon to continue monitoring the stock market and observe Renrenwang's trajectory.
By market close, Renrenwang's stock price had stabilized at $66, a 106% surge from its offering price of $32, with a market capitalization reaching $32 billion, making it the world's third-largest internet company after Google and Amazon, and slightly surpassing Tencent to become China's largest internet company.
Many people in China woke up the next morning to see morning news and front-page headlines of major newspapers all overwhelmingly covering this news.
Related topics soared to the top of trending searches on Renrenwang, Weibo, Baidu, and other platforms.
"Renrenwang tops as China's No. 1 internet company."
"Barring any surprises, Chen Pingjiang will firmly secure the top spot on this year's Hurun Rich List."
"A new richest man is born!"
"Exclusive Deep Dive: Renrenwang's Three Years."
"What magic does he possess? Building a business empire in three years."
"Countless people within Renrenwang became rich overnight."
In addition to allowing secondary market investors to profit, Renrenwang's shareholders, executive team, and employees also became beneficiaries of this Renrenwang IPO feast.
Although the prospectus did not specify the shareholdings of other executives, it is known that five executives held a combined stake of nearly 1%, with Miao Bingwei, Li Xi, Tian Hongrui, and others prominently listed.
Based on the closing market capitalization on the first day of listing, these five individuals would, on average, receive $64 million, equivalent to 480 million RMB.
Furthermore, Renrenwang's US stock market listing also presented a "generous gift" to its employees.
Some roughly estimated that about 1,000 Renrenwang employees collectively shared $320 million worth of stock, averaging about $320,000 per person.
This also means that Renrenwang's IPO created over a thousand millionaires, including manager-level employees, software engineers, sales and marketing staff, covering all major business units under Renrenwang.
Renrenwang thus set the record for the largest employee "wealth creation" by an IT-listed company in China, a record that would only be broken when Alibaba went public later.
In addition, Chen Pingjiang also launched a "friends and family" stock purchase program, benefiting more people associated with Renrenwang.
Some of the original advertisers and partners were also involved.
It is foreseeable that the newly wealthy Renrenwang employees will soon drive up housing prices in Wujiang District.
Someone broke into a sweat:
"With so many people suddenly becoming wealthy, it will be difficult for Renrenwang to incentivize these employees further, and some might even start their retirement early."
However, an employee within Renrenwang who received stock options stated:
"That's nonsense, I haven't even finished exercising my options, and besides, this money is only enough to buy two houses."
While Huaxing Capital and the other four underwriters made a fortune, IDG and Temasek were also very satisfied.
They got on board the latest, and Renrenwang went public not long after.
Although both only retained 2% of the shares each, they were worth $640 million.
It should be noted that they initially invested only around $60 million, multiplying their investment tenfold in just over a year.
Sequoia China certainly earned the most; even after some dilution of equity post-listing, it still retained a 20% stake.
This portion of shares was valued at $6.4 billion, far exceeding Sequoia China's initial investment.
Shen Nanpeng had no other thoughts, only wanting to be inextricably linked with Chen Pingjiang in the future.
Whether it was Orange Phone or Renrengou, as long as Chen Pingjiang asked for money, he intended to hand it over without a word.
"I've decided, after graduating this year, I'm going to Mr. Chen's Renrengou."
"Coincidentally, Chen Pingjiang plans to make mobile phones, and I, from BUPT, also intend to give it a try."
"Seeing so many people making money so easily, I regret not studying harder before."
"This day and night felt like a dream; today, the name Chen Pingjiang is everywhere, oh my god, it's terrifying."
"..."
While the outside world was bustling, Chen Pingjiang ordered some food from the hotel to be delivered to his suite.
In the suite were Tian Hongrui, Li Xi, Wan Yuqian, Shu Mang, Guan Yifeng, Miao Bingwei, Wen Yan, and others.
"Come on, tonight we drink until we drop."
Wen Yan laughed heartily, then covertly opened a bottle of Maotai.
"Holy crap, where did you get that?"
Miao Bingwei was stunned, not expecting Wen Yan to get his hands on such a thing in the US.
Wen Yan chuckled:
"I ran through half the city's Chinese supermarkets today just to buy two bottles."
"Come, I'll toast to both of you."
Chen Pingjiang smiled and said to Miao Bingwei and Wen Yan:
"You are Renrenwang's second and third employees; the building of Renrenwang relied on you two. You've worked hard."
Wen Yan, with some emotion, downed the wine in his glass, then said:
"Speaking of which, I should thank you, Chairman Chen, and Old Miao. Back then, things weren't going well at my previous company, but I didn't dare to resign. Hey, it's not easy for a technical professional with just an ordinary bachelor's degree like me to find a good job. Luckily, when Old Miao found me, I didn't hesitate. Thank you both; it's because of you that I am where I am today."
Miao Bingwei, who had become somewhat bald from working late, smiled and explained to everyone:
"I also hesitated for a long time before coming to work at Renrenwang. Chairman Chen kept painting a picture for me, and finally, I got impatient from his persuasion and decided to give it a try, never expecting to be unable to leave."
Everyone gradually opened up and started chatting.
The relatively quiet Shu Mang drank alcohol for the first time, took a sip, and was overwhelmed by the spiciness.
Wan Yuqian laughed at her from the side, and then the two hugged each other and started tickling.
Although both were quite young, their positions at the company usually prevented them from such playful antics.
Only in front of Chen Pingjiang could they act this way.
Li Xi stood up under everyone's gaze and raised a toast to Chen Pingjiang:
"Boss, thank you."
"I've said this many times. If it weren't for you, I might still be delivering takeout or just finding any job after graduation. You never looked down on me, you were willing to give me opportunities and taught me all kinds of knowledge."
Chen Pingjiang waved his hand and jokingly scolded:
"What are you all doing, reminiscing about past hardships and current sweetness? Pouring out your hearts? Or pledging loyalty? How cheesy. Everything you have today is earned through your hard work, and your efforts deserve all of this. I merely provided a stage."
Guan Yifeng and Tian Hongrui, the last two to join the company, were deeply impressed by the cohesion of these Renrenwang founders.
(End of chapter)