Key staff members resigned in a rush, causing Coocaa to face a crisis of evaporation of soft power
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"One million units is a watershed for TV manufacturers. If annual sales do not reach this number, it will be difficult for them to survive." In the middle of last year, Lu Renbo, deputy secretary-general of the China Electronic Commerce Association, issued the above warning to Internet TV manufacturers. At the beginning of this year, Coocaa, as an emerging Internet TV brand, officially became independent from Skyworth, and its chairman Wang Zhiguo personally launched a series of new products. According to relevant information, in order to become independent, Skyworth paid Coocaa enough money for two years of operation. In other words, after being separated from its parent company, Coocaa only had about 700 days to grow and develop. This year, Coocaa's sales target is the same as last year, and it is still an annual sales volume of over one million units. In fact, Coocaa, which has just become independent, is not only facing the "survival pressure" of breaking the million sales mark, but more importantly, with the parachuting of senior executives to key positions in the Internet business, its core backbone middle-level managers are leaving at a rate that exceeds the normal iteration of the industry. Like many startups, Coocaa is also facing the biggest crisis in its growth - the evaporation of its soft power. Why did you choose to leave Coocaa? Last September, Coocaa, an Internet sub-brand of Skyworth, sought independence, and Coocaa's senior management and the entire operation team also began to reorganize. Chairman Wang Zhiguo is mainly responsible for product and function research and development, while Lin Jin, son of Skyworth Group founder Huang Hongsheng, serves as CEO, mainly responsible for product operations. On the surface, everything started over again after Coocaa became independent. As the vanguard of Skyworth's transformation to the Internet, it was full of vigor and enthusiasm. However, with the large-scale parachuting of senior executives from outside the industry, hidden worries began to emerge like ghosts - Coocaa's core employees frequently left the team voluntarily or passively. It is understood that in more than half a year, about 10 middle-level backbone employees of Coocaa have resigned or were forced to leave. The shortest of these people had worked at Coocaa for two years, and some of them were old employees who had served for 10 years. "If Coocaa wants to transform and become independent, it is inevitable that it will have to set some heavier KPIs, but as long as everyone is united, it can be accomplished under pressure. After the high-level personnel adjustments, it is obvious that the original working atmosphere of Coocaa has changed. Many projects that have been launched were suddenly told to stop, and it felt like we had no idea where to start." A former Coocaa employee revealed. The high-level changes he mentioned refer to the fact that a current vice president of Coocaa was "airdropped" and quickly took over the management of departments that were not within his jurisdiction. The original work routes were modified or even overturned one after another, causing a considerable internal turmoil and even alarming the highest decision-making level of Coocaa. However, it was too late at this time and internal dissatisfaction had already spread. Wang Zhiguo once said, "Coocaa operates and provides content for Skyworth and Coocaa users." In this regard, Coocaa's previous work can be evaluated as excellent. It is reported that the "Direct to Hollywood" business previously managed by Ye Wenxin, the former CEO of Coocaa, not only generated nearly 100 million yuan in revenue for the company every year, but also cultivated the habit of Skyworth Coocaa users to pay to watch movies and TV series. However, after the organizational structure adjustment at the beginning of last year, Ye Wenxin also chose to leave, and the project is no longer promoted. It is reported that among the nearly 100-person team of Coocaa, most of them are engaged in sales. "There are too many newcomers in Coocaa now, and the overall strength is not as good as before, and the business ability is slightly weak." A game CP who has cooperated with Coocaa for many years said. Value-added services suffered setbacks Wang Zhiguo revealed last year that the sales volume of Coocaa TV last year was expected to reach 1 million units. "This sales target is still far behind the tens of millions of units sold by Hisense, TCL, and Konka. Even if Coocaa sets a sales target of 1.5 million units this year, it is still less than half of LeTV, which has no foundation in the TV industry." A TV manufacturing company executive revealed, "It is difficult for Chinese TV manufacturers to make a profit if annual sales are less than 3 million units." As we all know, when the traditional TV industry was unexpectedly swept into the Internet, hardware profits became a luxury, and they turned to TV value-added content to seek profits. However, Coocaa's value-added services, which were once recognized by the industry, have also begun to have problems. From the perspective of TV content alone, the heads of the three major businesses of TV advertising, games, and videos have also left this year. "Coocaa's real strength lies mainly in operations and products, not in terminals. It has no advantage in channels. Now something is wrong with Coocaa, and its ideas for value-added services are all messed up." said a person familiar with Coocaa's business. Can it survive the two-year deadline? It is worth noting that the current Coocaa is not in a completely independent state. Although the company has been established and "Coocaa and Skyworth both adopt market principles for accounting", the Skyworth Group behind it is still providing capital transfusions to Coocaa. According to people familiar with the matter, after going solo, Skyworth will pay Coocaa a certain amount of fees every year to maintain its normal operations. Skyworth will assess Coocaa's overall business, and the final assessment score will determine how much operating expenses Coocaa can get from Skyworth each year. However, Skyworth only provides this "settlement fee" for two years, which means that Coocaa will truly be independent from Skyworth and bear its own profits and losses. Therefore, the development in the past two years is extremely important for the new Coocaa. Only by laying a solid foundation and gaining a firm foothold in the Internet TV industry can it leave the "parent body" and develop independently in the future. "Now, with the help of Skyworth's brand effect, Coocaa will generate certain orders, but it is hard to say what the future will be like. After all, after the backbone members left, their industry judgment ability and user familiarity are not as good as before. The final trend still depends on the forward-looking judgment of the decision-makers." Industry insiders analyzed. Sources revealed that now Coocaa is full of "officials". Almost all the ordinary business personnel under a vice president have been promoted to directors, and each "director" is also equipped with an assistant. Such a luxurious configuration is simply unimaginable in Internet companies. In the current Internet TV industry, newcomers are springing up like mushrooms after rain. Influenced by Xiaomi and LeTV, traditional TV manufacturers have separated their Internet TV businesses to seek more market share. However, the manufacturing operation of the TV business, which requires hundreds of millions of dollars, has also made investors uninterested. They can only rely on their own resources for development. With limited resources, Coocaa has seen a massive resignation of middle-level employees, coupled with luxurious staffing comparable to that of relevant departments, and there is no trace of the spirit and energy that startups usually have. It is worth mentioning that the heads of the two Internet TV brands that will be launched in the second half of the year are both senior leaders from Coocaa and have rich experience in the TV manufacturing industry. In the future battlefield of Internet TV, fighting among the Coocaa system may be inevitable. The success of every enterprise is inseparable from capable generals, that is, capable middle-level managers. The same is true for Internet TV enterprises. Middle-level managers who are proficient in the business constitute the most solid foundation of the enterprise. However, under the chain reaction of this resignation storm, Coocaa, which is short of manpower and generals, may need to make more efforts in morale if it wants to conquer the stars and the sea ahead. As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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