JB and ZJMY Holding Co (JBZY)

[Tengri]

JBZY will be remembered much like BIDU...

In 2000, Baidu had a total of 8000 shareholders who were funding the company in anticipation of the sought-after listing to a public stock exchange. By 2003, the company was still not listed, and so shareholders began to worry whether the company would ever go public?

Skeptics began to claim that Baidu's CEO was a scam artist, and went as far as to report him to the government and have the CCTV broadcast to the nation that Baidu was engaging in pyramid schemes and illegal fundraising activities.

Shareholders saw the CCTV report, and as a result, 7800 of them chose resolutely to abandon Baidu.. Leaving only 200 shareholders behind, all of whom vowed to follow Baidu through to the end.

Needless to say what happened next?

Well, Baidu went public on the NASDAQ in 2005.. making many of those 200 die-hard shareholders into millionaires!

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