A number of co-artists apologized. Why did this company, which started as a ＂campus loan＂, provoke public anger？

　　Jerry apologizes, Fu Seoul apologizes, and Dong Yuhui pulls the black fun shop to provoke public anger.

　　Jerry:

　　On 26th, Jerry, an actor, issued a statement, saying that we were negligent in not memorizing the experience of the brand predecessor about the brand cooperation of fun shops. After the problem was discovered, both parties had already terminated the contract at the first time, and there was no follow-up cooperation.

　　Fu Seoul:

　　Earlier on the 26th, artist Fu Seoul stated that there was no deep cooperation with the fun shop and no follow-up cooperation. Lack of understanding of the predecessor of the brand, not doing a good job in the enterprise and market. I took the wrong job and was negligent and stupid. I am full of regrets. Really, I deserve to be scolded.

　　Dong Yuhui:

　　On July 18th, Luo Min visited the Oriental Selection Studio and even painted ten carnivals. The other party not only didn’t appreciate it, but blacked him out. On July 21st, Dong Yuhui, the anchor of Oriental Selection, responded to Lahei Luo Min in the live broadcast, saying that "Oriental Selection is the company’s number and has nothing to do with me personally. The director’s little brother has just graduated from college, and sometimes he has some personal grievances. He wants to blacken, and I feel quite reasonable after listening to it. "

　　Chengdu Business Daily-Red Star Journalist Yu Yaoqiang Yaxi Comprehensive Southern Metropolis Daily and China Fund Newspaper

　　Yesterday, stars Jerry and Fu Seoul apologized for cooperating with the pre-cooked dishes in the fun shop, and announced that they would not cooperate in the future.

　　It is reported that the reason why the cooperation with the fun shop is controversial is that the brand and its founder, Luo Min, initially made a fortune by virtue of campus loan business, and recently chose to join the prefabricated vegetable track for the second time. In addition, Luo Min announced that the fun shop will support 100,000 users to start businesses in the next three years, and will also provide one-year interest-free loans for businesses lacking funds, and called Bao Ma to join. At present, this joining mode has also been questioned that the hand of "cutting leeks" has been changed from a student to a treasure mother.

　　The Red Star Capital Bureau noted that after the live broadcast of the fire, the share price of US stocks in the fun store rose sharply on July 18, rising by over 80% in intraday trading. However, from July 19 to 25, the U.S. stocks of fun shops kept falling, with a drop of about 23.3%. As of July 25, the stock price closed at $1.28 per share, with a total market value of $323 million. On the 26th, the U.S. stocks in the fun shop plunged before the market. As of press time, the share price has fallen by more than 7%.

　　Artist apologizes: cancel the contract with the fun shop

　　Recently, artists Jerry and Fu Seoul have been controversial because of their cooperation with pre-cooked dishes in fun shops. In particular, Jerry once said in the live broadcast room of the fun shop that "my heart is particularly warm, like going home", and said that he had known the founder Luo Min for many years, and Jerry had previously endorsed Wan Li Mu, a luxury platform owned by the fun shop.

　　This move caused a large number of netizens to be dissatisfied. They commented in Jerry’s related Weibo, "Do you know how many students the person next to you has harmed?" "You should carefully choose your future partners … … I suggest not to go to the boss’s live broadcast room again. ""Don’t you know who Luo Min is? " "Take care of your feathers, and earn all the money you have made on campus loans" … …

　　Yesterday evening, Jerry issued an apology, saying, "Based on the recent public opinion related to the historical background of the fun shop brand, I am paying close attention to it like everyone else. I feel deeply guilty and sorry to see these negative information. Regarding the brand cooperation of fun shops, it is our negligence not to recite the experience of the brand predecessor clearly. After discovering the problem, the two parties have already cancelled the contract at the first time, and there is no follow-up cooperation. "

　　Yesterday morning, Fu Seoul also issued an apology, saying that "the cooperation with the pre-cooked dishes in the fun shop is a single one, and there is no in-depth cooperation and no follow-up cooperation. I really don’t know the predecessor of the brand, and I don’t do a good job of enterprise and market. I don’t know anything about the possible business model of the brand, and I don’t think so much. "

　　Prior to this, on July 17th, Luo Min, Fu Seoul and Jerry, founders and CEOs of Fun Store, made food, broadcast and bring goods together in the live broadcast room in Tik Tok. This live broadcast, the number of viewers exceeded 95 million, and the cumulative sales of a single game reached 250 million yuan.

　　On July 18th, Luo Min brushed a gift for Dong Yuhui in the live broadcast room of "Oriental Selection", and later released a video saying that he was suspected of being blacked out by "Oriental Selection". On July 21st, Dong Yuhui, the anchor of Oriental Selection, responded to Lahei Luo Min in the live broadcast, saying that "Oriental Selection is the company’s number and has nothing to do with me personally. The director’s little brother has just graduated from college, and sometimes he has some personal grievances. He wants to pull black. After listening to it, I feel quite reasonable. " Dong Yuhui’s response is also considered to be related to the campus loan business of the fun shop.

　　The joining mode of prefabricated vegetables is controversial.

　　This incident not only makes the partners in the forefront, but also makes the public question the pre-cooked food business in Luo Min. Some netizens even think that this is a "pit treasure mother".

　　It is reported that Luo Min once called Bao Ma to join in the live broadcast, saying that opening a store near the community could easily earn thousands of dollars a month. Luo Min said that in the next three years, Fun Store will support 100,000 users to start businesses, solve supply chain, technology and flow problems for offline businesses, and provide one-year interest-free loans for businesses lacking funds.

　　It seems to be supporting entrepreneurship and supporting franchisees. However, Luo Min also mentioned that businesses need to solve their own problems such as the location and decoration of storefronts and the distribution of products. This will put the operating costs and risks of heavy assets such as store rent, decoration and manpower on franchisees. Previously, Sina Finance reported that many brands, like fun shops, are open to joining under the banner of "0 yuan Joining", but before joining, they will require franchisees to purchase large amounts of materials at one time, set a high percentage of sales, directly charge the turnover of offline stores to the headquarters, and increase the prices in the supply chain.

　　Therefore, the public thinks that Luo Min not only earns money from joining, but also lends money to franchisees through the interesting staging platform, which extends the hand of "cutting leeks" from students to franchisees, especially his precious mother. And he resisted Luo Min and the prepared dishes in the fun shops behind him.

　　A little more news.

　　Luo Min, who made a fortune on campus loans, once had a net worth of 12.5 billion.

　　Luo Min’s identity is controversial.

　　As a serial entrepreneur, Luo Min had a great time. At the age of 34, he became the CEO of a listed company with a market value of tens of billions of dollars, realizing his wish of "ringing bells in the United States" when he was young. However, "listing is the peak". Just a few days after listing, the share price of the fun store quickly fell below the issue price, and then the share price plummeted all the way. In just half a year, the share price fell below $10. In 2020, the share price of the fun store directly fell to $2. Today, the share price of the fun shop has fallen below $1. Compared with the market value of $10 billion at the beginning of listing, the market value of fun shops is only about $300 million now, and it has evaporated by 97% in more than four years.

　　The predecessor of the fun shop that brought Luo Min to the peak of his life was fun staging — — It is a financial service platform for college students to provide installment consumption. Simply put, fun installment is the business of campus loan.

　　It is understood that in order to quickly occupy the campus market, Luo Min hired a large number of college students to distribute leaflets, which was expanded to 300 cities nationwide in January. At that time, the propaganda of "zero down payment" and "you can buy an iPhone without selling your kidney" attracted many college students.

　　Five rounds of financing were obtained in just one year, and the total amount of financing exceeded $200 million. In 2017, the fun store founded by Luo Min went public in the United States, with a market value of over 10 billion yuan.

　　In fact, campus loans have been pushed to the forefront because of the frequent incidents of jumping off buildings and suicides caused by students’ inability to repay online loans. Since 2016, the CBRC and local financial offices have stepped up supervision over campus loans:

　　In April 2016, the Ministry of Education and the China Banking Regulatory Commission issued a notice, requesting the establishment of a daily monitoring mechanism for unhealthy peer-to-peer lending on campus to help students enhance their awareness of financial and network security.

　　Subsequently, on August 24, when the CBRC held a press conference on the relevant situation, it was clearly stated that the five-word policy of "stopping, moving, rectifying, teaching and introducing" should be adopted for campus online loans. Corresponding self-discipline documents have also been issued at the local level. The Shenzhen Internet Finance Association issued a notice prohibiting offline sales and campus agency, and prohibiting illegal collection.

　　Subsequently, the fun shop announced that it had successfully transformed the whole society’s non-credit card consumer finance users from the campus market and quit the campus.

　　In October 2017, Fun Store was listed on the New York Stock Exchange, becoming the third listed consumer finance company and the largest Chinese stock in the United States that year. At that time, Luo Min, 34, was also ranked 7th in the 2017 Hurun Post-80s Rich List with a net worth of 12.5 billion.

　　One month before the fun shop went public, the Ministry of Education made it clear that "campus loan business should be banned, and no online lending institution is allowed to issue loans to college students." The fun shop was sued by American investors. On February 28th, 2022, under the direction of the U.S. District Court for the Southern District of new york, Fun Shop and Luo Min paid 8.5 million U.S. dollars in settlement money to several plaintiffs, and this securities fraud lawsuit, which had been fought for more than four years, came to an end.