Teng You Media's IPO was like a deep-water bomb.
It was thrown into the entire domestic stock market, for the capital market.
In recent years, short videos weren't anything out of the ordinary, some missed out while others seized the opportunity.
Even programs like Tencent's Weishi, nurtured as a favorite child, were beaten down by TikTok.
These were all platform-level companies, but a top internet celebrity company like Teng You Media, which relied on developing internet celebrities early on and raced to an eighty billion valuation, caught many big capitals by surprise.
This also made numerous major enterprises see the opportunities in short videos, prompting them to encourage their employees to start online video accounts.
Dou+ launched by TikTok was also making a fortune during this time.
Consequently, the 3.5% stake in TikTok he held soared in value.
