"Hello everyone, thank you for attending today's press conference. It is also an honor to invite Mr. Newman Zhou, the current leader in the field of electronic payments and one of the most outstanding technological innovators in Silicon Valley today, to attend our press conference.
I am pleased to announce that Confinity successfully received US$5 million in angel round financing from Deutsche Bank and Nokia Investment Fund.
Since its establishment, Confinity has been committed to providing safe, convenient and efficient solutions for the Internet payment field.
Today's investment will help us scale, expand our business, and further advance our technological innovation.
We believe that this investment will bring more opportunities and challenges, and will also allow us to better provide value to our customers.
At the same time, we would like to thank our investors Deutsche Bank and Nokia Investment Fund for their trust and support in us. Their joining will provide us with more resources and experience, allowing us to better achieve the company's development goals.
Finally, I would like to thank everyone again for coming and look forward to working with you in the future, thank you. "
Peter Thiel has a typical white appearance with slightly curly chestnut hair. He nodded towards Zhou Xin when he mentioned it.
Not many reporters were willing to participate. To be honest, Confinity is not a big company. There are many small start-up companies in Silicon Valley.
Nokia Investment Fund and Deutsche Bank's investment arm are also relatively unknown.
Now the entire restaurant conference hall is filled with reporters. It was because Peter Thiel released the news to reporters after Zhou Xin agreed to attend the product launch conference, and reporters swarmed in.
Confinity has no interview value, but Zhou Xin does. Zhou Xin is currently the most talked-about person in Silicon Valley, especially after the launch of Quora's threshold exam.
Even Deutsche Bank and Nokia Investment Fund originally only sent an investment manager. After learning that Zhou Xin would participate, Clausen, the head of Deutsche Bank's VC department, and Kleist, the head of Nokia Investment Fund, attended the press conference.
Before the press conference started, the two responsible persons also chatted with Zhou Xin for a few words.
"We asked Mr. Clausen to transfer the investment directly to us via the Palm on behalf of Deutsche Bank and the Nokia Investment Fund."
This is also a gimmick deliberately set up by Peter Thiel, an investment of five million US dollars, transferred directly through electronic payment.
Originally, the reporters focused their attention on Zhou Xin, thinking that they would surround Zhou Xin and ask him questions later, but now they are attracted by this novel transfer method.
PDAs were not uncommon at that time. In the first half of 1999 alone, the sales volume of PDAs was 650,000 units. This is sales volume, not retention, and the retention of PDAs was even greater.
Although it cannot be compared with desktop computers, it is definitely not a niche computer device.
Especially for the text-based professionals here, PDA is even more popular.
Only when Zhou Xin saw the PDA did he realize that he could do this. PDA had requirements for chips, but the requirements were not that high.
It is entirely possible to use PDA as a carrier to build an industrial chain around PDA in China, and then directly transform into smartphones when the mobile Internet comes.
"This matter needs to be carefully considered. I don't know anything about PDAs. This market is completely different from mobile Internet and smartphones. If I rush to do this thing, I can't guarantee that I will succeed.
But PDA is a good direction for me. I have been here for more than a year, or almost a year since I came to this era, and I still have not integrated into this era.
I still don’t think enough about what I can do. "Zhou Xin thought to himself while sitting in the audience.
He originally wanted to start with the integrated circuits used in game consoles, and then transform into smartphones in the mobile Internet era.
But after looking at the PDA, he realized that the PDA model seemed more suitable.
Because he didn't know enough about games, the only games that could be reproduced for later generations were "Angry Birds", "Plants vs. Zombies" and other puzzle games.
He has no time to play other masterpieces, let alone how to reproduce them.
While Zhou Xin was thinking, Peter Thiel and Clawson had already completed the transfer on the stage.
The reporters in the audience were also whispering. They were all reporters from the Silicon Valley technology media and interacted with each other.
"It looks pretty good. This method is much more convenient than going to the bank to transfer money."
"No, no, no, I have used Confinity's products. Their products do not require a password and only require you to enter the amount and account number to complete the transfer.
The security risk is too high.
It's equivalent to losing your PDA. If you forget to unbind your bank card, all the money in your account will be withdrawn. "
"No password? Are you sure?"
"I'm sure they don't need a password. Compared to NewPay, their method is too insecure."
After NewPay received US$100 million in financing, it not only began to promote integration with major online shopping websites into each other's websites, but also advanced negotiations with major banks.
Silicon Valley is not as close to Washington as Wall Street is.
For NewPay, Silicon Valley pays more attention to the usage level. As an infrastructure, it can bring changes to the entire Internet ecosystem.
Wall Street and Washington are more concerned about the risk control measures adopted by NewPay and how to avoid security risks in electronic payments.
After the bank card is associated with a mobile phone number, the transfer requires entering a password and SMS verification code. This method requires the cooperation of the bank.
Because before NewPay made such a demand, no bank would require users to bind their bank cards and mobile phone numbers.
Originally Amerikan had to wait until 2003. After the Federal Trade Commission promulgated the Anti-Spam Act, some banks and financial institutions began to require users to link their bank cards and mobile phone numbers and verify them.
The bill sets out a number of requirements, including a prohibition on sending false or misleading commercial emails, while also requiring emails to contain true contact information. This usually involves including the sender's name, address and phone number.
NewPay is now advancing this matter. If your bank card is bound to a mobile phone number, you will need a SMS verification code. If it is not bound, you will need a password.
In other words, the measures taken by NewPay are likely to be adopted by Washington and become a common standard across America.
Wall Street values NewPay’s ability in this area more, so Goldman Sachs and Morgan didn’t blink when they heard the valuation of one billion US dollars and the A/B share structure.
"Next is the question time. If you have any questions about Confinity, you can ask us at any time."
