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Chen Lei tells us the whole story of being driven out of Xunlei: the man in white suddenly descended, and Lei Jun knew everything

via:博客园     time:2020/5/21 13:38:34     readed:481


ID: sxrenwuguan, author: tiantuan, editor: Jiang Yue

When the phone was connected, Chen Lei said the first thing. His voice sounded tired, as mild as ever, but thick and hoarse.

On May 19, Mr. Chen revealed that a former chief executive of NetCard Technology, his old man, had been called

At the beginning of April this year, Xunlei, a US listed company, suddenly announced a personnel adjustment order. Chen Lei, CEO of Xunlei group and its subsidiaries, Xunlei, onething technology and other related companies, no longer served as CEO. Wang Chuan, Chief Strategic Officer of Xiaomi group, resigned as chairman of Xunlei. Li Jinbo, the former technical director of Xunlei, took over the two positions. Meanwhile, the senior management team of onething technology, which was built by Chen Lei, was also cleaned.

April 2 at 10 a.m., a white bodyguard rushed into the office, directly took over the net heart company. Chen had a fever at home


As a professional manager, Mr. Chen said, he did commit a lot of taboos in the years of Thunder, such as offending a lot of people, being too simple, and so on, which eventually led to the network heart executive team being treated

A month and a half later, on the evening of May 20, Chen Lei chose

  • I shouldn't be the CEO in 2017. It's a feud with the old team.
  • I may have made a lot of taboos of professional managers, one is offending some people, the other is too simple.
  • I regret accepting the invitation of Lei Jun to join Xunlei in 2014. I adored Lei Jun in my heart at that time.
  • I believe that the friction with Xunlei's new management team happened later. Lei Jun knows that they will report such a big thing to Lei Jun.
  • I can leave Xunlei, but since my employees have been laid off, they should not be charged with unnecessary charges.

The following is Chen Lei's self statement only and has not been confirmed by Xunlei:

1. Resignation disturbance

At about 10:00 on April 2, I had a fever at home and didn't go to the company. But my colleagues gave me feedback that a group of white bodyguards rushed into the office and ordered all colleagues to stop all work. This happened before any communication with me.I knew nothing before this happened.


Figure: screenshot of dialogue from netheart technology staff

I don't think it's normal for me to take over the company with such momentum.

I made an appointment with them to meet President Li (Li Jinbo) on April 5. On the evening of April 4, at perhaps more than 10 o'clock, I was told not to see you. One of the reasons is that he was hit by a colleague while walking in the office. I think it's strange. Later, he kept saying that No. 5 was in a bad mood and was missing.

I went to contact each other through a member of the board of directors. Can I start docking on April 5? They said they would see each other in 10 days, but they didn't see each other.

It wasn't until May 3 that I made an appointment with a core member of the new management. The core content of this meeting and communication is how to return these affiliated companies to the past.

The two core companies are Hainan Lenovo cloud and Shenzhen Xinghe. Our other colleagues are also discussing the handover matters with Xunlei management team. On April 23, they finally sent an email to part of the handover. We also sent an email back to inquire about the two companies, but this email did not receive any reply.


Overall, the other party has been avoiding the handover process.


I think our entire senior management team is deliberately framed, so I have to stand up and speak up and make things clear.

I'm also summarizing myself. There are many things that I didn't do well before. As a professional manager, I may have made a lot of taboos of professional managers and really offended some people.

I was elected CEO in 2017. There is a background, at that time storm video from the U.S. stock market, back to the domestic listing, the stock price is sought after. So old Zou (Note: Zou Shenglong, founder of Xunlei, former CEO) wants to do MBO (Note: management buyout), but he disagrees with major shareholders, and finally this matter cannot be reconciled, so he put me on the shelf as CEO.

At that time, I was a little scared. I didn't think this position was good.

In this process, old Zou also repeatedly stressed to me that being CEO of Xunlei has great legal risks, mainly the legal risks of Xunlei's business itself, but I didn't fully understand at that time.

Just at this time, Chen Zhou, CEO of YY, was replaced after only a few months as CEO, and Li Xueling, its founder, took the post.

I felt that CEO was unstable, I needed to think more about it,

I thought about it for almost a month.

Taking the position of CEO of Xunlei really has a halo for me. After I came, I have done a lot from 2014 to now. Many people in the team come to Xunlei because of me. If I don't take this CEO, I'm not responsible for you.


The internal strife that happened in October 2017 was actually initiated by Yu Fei. The core appeal was to drive me away.

When I entered Xunlei, I was CTO and later became co CEO.

In November 2017, someone came to Xunlei to make trouble. The banner was organized by Xunlei big data at that time. Why did they organize it? What is his purpose? These three screenshots are very clear.


Photo: Yu Fei on the right

At that time, chairman of Xunlei was Zou Shenglong, and it was Wang Chuan in December. We fought resolutely to protect the interests of the company at that time.

The most important point is that there are 4 subsidiaries under Xunlei big data, 5 companies in total. The core business is P2P, and we have no way to look at its accounts. One of their businesses is Xunlei finance, which is made in Xunlei app and bears the name of Xunlei. But as CEO and CFO, I didn't know the result of business operation at all. At that time, P2P was very popular.

Xunlei finance seems to be the fuse, but in essence it is not.

So, I was really stupid to offend this man.

In the process of dealing with this matter, I once went to the board of directors to express that thunderbolt big data is not suitable for me to deal with. I asked the board of directors to deal with this matter, but was rejected, and then told me how to deal with it instead of the board of directors.

There are a lot of details in it. I won't go into details today. There are many other evidences.

My mistakes include too simple.

A professional manager takes a lot of risks for the company, which is an absolute taboo.

I used to work in companies like Microsoft, Google and Tencent, which have a lot of human feelings and are very concerned about or even tolerant of their subordinates. So I thought maybe I should take some risks as CEO.

But as a professional manager, taking so many risks for the company really shouldn't be. Because, a lot of things can not be put on the table, or even in the board of directors meeting, can only communicate online.

4. CEO without power

In fact, CFO found out the P2P risk of Xunlei big data and asked me to write a report. My first reaction was whether I could ignore it or not. But the problem is that Xunlei big data uses its brand to do risky business. Although Xunlei only holds 28% of the shares of Xunlei big data and has no real power, users will not think that the financial products bought in Xunlei app have nothing to do with Xunlei.

Later, old Zou (Zou Shenglong) also found me and said that I had neither a position nor a position to manage this matter. I think what he said is right, so I will not refute it.

Yu Fei once asked me directly: Chen Lei, I want to ask you whether you chose this thing or the CFO told you that you did it.

I said that it was the CFO who reminded me, but even if I didn't, I certainly had to take care of it.

In the process of communication with Yufei, I made a phone call once to report to the core members of the board of directors.Once at the Indian airport, the team was allowed to go in because of my ID. I called outside the airport and kept reporting the situation. Later, there was a problem with boarding, so the team came to pull me. Because they know that I am communicating with the board of directors, and they dare not come here.

Later, why is the result of the settlement? The board of directors also sent an open letter to support me.

At that time, Lao Zou put forward a plan to let Xunlei spend 50 million yuan to buy all Xunlei big data back and become a wholly-owned subsidiary, and then let all shareholders of Xunlei big data cash out.

This matter angered the shareholders and the core directors. It doesn't make sense. If P2P business is really a big hole, it will cost another 50 million if it is picked up by thunderbolt, how can it be logical?

5. Transform xunlei

In the download business of Xunlei, the proportion of pirated and yellow content is very high. The current technology can be removed 100%, and the live content can be checked in real time. What can't be done with the downloaded products?

My opinion is that we should take away the thunderbolt download business orderly and slowly, or at least take away the piracy and yellow part.

What did I do?

In December last year, Sino US trade war and so on became more and more unfavorable to thunderbolt's download business (for copyright reasons), so I took some communication with the board of directors, but I may have taken an unreasonable way.

I sent a PPT to the board's WeChat group

Because at that time, the total amount of our download litigation was more than 100 million yuan, and the compensation amount in 2017 was more than 70 million yuan. The value of this part of business to Xunlei is getting lower and lower. In fact, the profit is only more than 70 million yuan a year. The legal risk is also amazing. Downloading may violate 24 laws of China, including 4 criminal laws, which can be sentenced to 10 years at most.

We also analyzed the cases of fast broadcasting. From a legal point of view, fast broadcasting should bear legal responsibility, even criminal responsibility. I made this content into a PPT and sent it to the board of directors. I also consulted about a series of work from the perspective of overseas litigation, such as how serious this matter is.

At the same time, with the implementation of net action by the state, yellow and pirated websites are becoming less and less, which leads to less traffic to Xunlei. To some extent, it is also the reason for the decline of Xunlei's performance.

After I sent the PPT, the whole atmosphere of the board of directors suddenly changed. No one answered the email I sent. Except for two independent directors, no one else did. Everyone was very cautious about me.

I concluded that professional managers can't do two things.

First, you can't take too many risks for the company. After taking too many risks, you will be killed as I am today.

Second, if you really want to put the problem in front of the board of directors, it will happen to the things I experienced today.

6. Lei Jun's cake

I met with Lei Jun in September 2014, and he invited me to join Xunlei. We talked about more than two o'clock in the morning.

Zou Shenglong asked me before. It was April at that time. At that time, I was not very optimistic about Xunlei's cloud computing business. I thought it was impossible.

But Lei Jun moved me, and he offered two reasons that I couldn't refuse.

He asked me: you have done well in Tencent, but are you good or good? Can you do so well when you leave Tencent?

The second question, he asked me, do you want to be a company that has the final say?

I was deeply moved by Lei Jun's proposal. I think he can read my heart and say my voice.At that time, I adored Lei Jun in my heart.

So he decided to leave Tencent cloud and join Xunlei.

At that time, I didn't ask for equity, because Microsoft, Google, Tencent and other companies I worked for didn't need to consider this issue at all, as long as they made achievements, the company will give you enough returns.

At first, Lei Jun supported me to do cloud computing business in Xunlei. In 2015, when thundercloud business was launched, Lei Jun personally attended and made a speech. He said that the investment in Xunlei was to invest in this business.

Do you ask me regret coming from Tencent cloud to Xunlei? How could I not regret.

I shouldn't be the CEO in 2017. It's a feud with the old team.

I believe that Lei Jun knows the friction with Xunlei new management team.They will report such a big thing to Lei Jun. I heard that Li Jinbo told Lei Jun himself, but Lei Jun didn't make a decision until a month ago. Then they couldn't wait to start.

I think the biggest problem is not money, but risk. I don't know how much economic benefits Xunlei can contribute to Xiaomi, but it's a big risk.

7. Xunlei's unnecessary accusation

A large part of our new business is bandwidth business. In the early days, making money, including the game maker cloud business, was sold through Taobao and Jingdong.

In February 2017, the Ministry of industry and information technology issued a clean-up of non-conforming market transactions, which expressly stipulated that only licensed enterprises can purchase bandwidth.

We are going from buying bandwidth from home users to buying bandwidth from mine owners. In order to avoid the risk of onething, we bought the shell company of Xinghe, which purchased the hardware from onething and then sold it to the miner. In this way, the risk of network center is isolated.

Because of the increase of the transaction link of Xingfu in the sales, there are related transactions between Xingfu and onething technology. In order to ensure that the audit of onething is qualified, companies with business connections cannot use onething staff to be shareholders and legal persons, we can only ask the family members of our colleagues to do it.

Now these become the attack points of the netheart. Xunlei accused us of opening companies outside, saying that these companies have interests with Netease.

However, Xing fusion and other related company's business in the network heart are open, know a lot of people. Many of the company's documents are used directly


Now Xunlei will bring civil and criminal charges against the employees who follow me.

This has no logic. Xunlei has dismissed them. What else? Do you want to kill them all? Even if it's against me, why do you involve other people?

I'm interviewing today because these employees are treated unfairly.

Note: the above content is only Chen Lei's self statement, which has not been confirmed by Xunlei.

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