On the occasion of the 25th anniversary of the establishment of Tianya Community, a well-known Internet community, Tianya Community was filed for bankruptcy review. On February 26, the National Enterprise Bankruptcy and Reorganization Case Information Network showed that Tianya C

On the occasion of the 25th anniversary of the establishment of the well-known Internet community Tianya Community, Tianya Community was filed for bankruptcy review.

Public information shows that in April 2023, the Tianya Forum was disconnected due to arrears of tens of millions of server fees to Hainan Telecom.

On April 1, 2023, Tianya Community issued an announcement stating that Tianya Community will undergo technical upgrades and data reconstruction in the near future, and the platform will be inaccessible during this period.

A former executive of Tianya Community told The Paper at the time that Tianya Community has not yet been closed, but is in a "state that is hard to describe." The main reason for the inaccessibility is that the capital chain is broken and the company is unable to pay for China Telecom's computer room and network costs, resulting in the website service being interrupted.

On May 27, 2023, in response to the recent suspension of access services and other situations, Tianya Community announced through its official Weibo that it had indeed encountered liquidity difficulties and was raising funds from various sources to make every effort to restart Tianya.

In addition, the announcement stated that former employees such as Song Zheng (screen name Xiaohei), the former executive editor of Tianya Community, and some senior Tianya netizens spontaneously organized the "Seven Days and Seven Nights, Restart Tianya" event, and will "restart the Tianya" account through Douyin. The live broadcast will be carried out non-stop for seven days and seven nights starting from May 28. All the money raised from the live broadcast will be used to pay the related expenses required for network activation for Tianya Community, in order to help Tianya Community restore services to netizens. The Tianya community will fully support this event and is also raising funds from various parties to restart Tianya.

According to a report by the Beijing Youth Daily on June 30, 2023, a "Grass Team" formed by more than 20 Yaotai friends tried to raise 3 million yuan to "pay off debts" and restart Tianya through a live broadcast of goods for 7 days and 7 nights. However, the 1.0 rescue operation ended in a "disastrous failure" and only raised 149,900 yuan in 7 days. After rest and review, Operation 2.0 restarted during the Dragon Boat Festival that just passed. The

report mentioned that from June 22 to 24, the "Restart Tianya" live broadcast has been broadcast twice. The themes are "The Correct Way to Open Traditional Culture" and "How to Avoid Pitfalls in Filling in the College Entrance Examination Volunteer Application". The live broadcast room is no longer available. Former Tianya Internet celebrities were invited to recall their online stories from ten or twenty years ago, and the chat content was changed to hot social topics such as the Dragon Boat Festival and college entrance examination application form. On the evening of the 22nd, a total of 34 items were put on the live broadcast room. The broadcast lasted for 3 hours, with sales of 7,923 yuan.

At the end of 2023, Xing Ming, founder and chairman of Tianya Community, revealed Tianya’s “self-rescue plan” in an interview. They planned to start the official live broadcast after New Year’s Day, and on March 1, 2024, which is also the 25th anniversary of Tianya Community. On this occasion, the Tianya platform was officially restarted.

Tianya Community Network Technology Co., Ltd. was established in April 1999. The legal representative, chairman and general manager is Xing Ming, with a registered capital of 93 million yuan. It is composed of Xing Ming, Hainan Dawei Internet Investment Management Co., Ltd., and Daziyan Yue Management Consulting Co., Ltd. and others jointly hold shares. The risk information of

Tianyancha shows that at present, the company has multiple pieces of information about persons subject to execution, and the total amount of execution exceeds 10.51 million yuan. In addition, there are also multiple consumption restriction orders and equity freezing information. In the early years of

, Tianya developed under a weak center model, advocating governance by doing nothing, and achieved a prosperous community. In 2005, when Tianya was at its peak, the international giant Google also participated in its capital operations. Google subscribed for 1 million shares of Tianya in 2005 at a price of US$1 per share, accounting for 6.67% of the total share capital of Tianya Holdings.

Regarding the decline of Tianya, Pan Helin, co-director and researcher of the Digital Economy and Financial Innovation Research Center of Zhejiang University International Business School, said in an interview with The Paper: "The highlight moment of Tianya community was in the early days of China's Internet era. It was the bbs forum era, it reached its peak at that time because there were many talented authors in the Tianya community. The main reason for its decline was that Tianya managers did not take the initiative to seize the new era."

Pan and Lin also said that in terms of product and technological innovation, Tianya has not Keep up with the trend of the times.At the same time, it was too conservative in terms of operation and management. When the mobile Internet era came and capital poured in, the management's perspective seemed too narrow and did not openly embrace opportunities.