All: Game Incubator

Cao Kai has experienced all sorts of things that a start-up team can experience. With these accumulations in the first place, he decided to take a hand for the other game teams. Article | Shen Lingli Cao Kai early in the morning received a bank governor friend sent a micro-letter. He founded the "Seventh Avenue" had opened an account in the bank, is a large savings, two people so familiar. The other side in the micro-letter said, dream of Cao Kai the new company sold again. What the other person said was "again", which is almost universally known: Cao Kai first sold Seventh Avenue to Sohu for a swim, and then left before Seventh Avenue was about to reach Nasdaq. Cao Kai's new identity is the founder of the Network Limited (hereinafter referred to as "any"). He set up the new company the month after he resigned from Seventh Avenue last May. Receiving this very funny micro-letter, Cao Kai very seriously replied: I am glad to have such an experience, it makes my current horizons and the pattern becomes bigger. This is the case with a larger pattern of Cao Kai, that is, who wants to invest in more small micro-game teams. The idea has changed. No one at the beginning of the establishment, Cao Kai to its positioning is still doing a page tour development. But after nearly a year, his ideas changed. The root of this change comes from his deep understanding of the survival of the game's entrepreneurial team. Although has been doing a page tour, but Cao Kai is very concerned about the new trend of hand tour. 2012 is considered to be the year of hand tour, can be said to be the best time to start a business. More and more people and resources are jumping into this field, but the success rate is also more and more low, Cao Kai the reasons for the low success rate of the hand tour is attributed to several aspects: entrepreneurs lack entrepreneurial experience, survival pressure, the project often to copy to replace innovation, quick, product quality is not guaranteed; No bright background to endorse, difficult to convince distributors; The team is not enough money, many giants such as Perfect, NetEase, Tencent, Giants, etc. also into the field of hand travel, further worsened the survival environment of small and medium-sized teams. "Our greatest resource is to solve all the problems of the start-up team." "Cao Kai said. In the first pioneering process, he has a pioneering team can experience things have gone through, not to pay wages, debt, debt, Angel round financing, a round of financing, participation in entrepreneurial competitions, selling companies, capital games and so on. With the previous entrepreneurial experience and resource accumulation first, Cao Kai decided to help small and medium-sized entrepreneurial team entrepreneurship. No one is now hatching 4 small game teams. But the positioning in the investment incubation is not a simple single fight, but the United capital, experience, resources, to the small and medium-sized game team to provide a full industry chain support. This August, no one with 37 game Group (hereinafter referred to as "37 games") in Guangzhou held a strategic cooperation conference, announced: No any admission from the 37 Game group strategic Investment, 37 games will occupy 10%, the two sides jointly prepare the "Excellence Incubation Fund", in addition to Shenzhen, who still in Shanghai, Guangzhou set up a branch office. The group does not develop its own products, but is developed by the investment team. The Seventh Avenue, founded before Cao Kai, was opened outside the "Pinball Hall"The "Divine Comedy", with its high water flow, broke the spell that most game developers struggled to develop two successful games in a row. It is because a single team is difficult to maintain in the game innovation, so the investment hatching small game team is in the industry many companies are already taking a road. The success and failure experiences between different teams can be shared, and the probability of launching the products is higher. Cao Kai that today's alliances ability. But unlike many of the companies that do the hatching, the team will not only be pitching the team but also the page. Cao Kai always think that the development of page tour is still in, in addition, although there is a negative growth in the page tour, but also occupies a large share. "The end swims not dead, the page swims has what good to be afraid of." "This is what Cao Kai now often say. "The entire page tour market has a market size of 20 billion RMB." Cao Kai Special emphasis on this data, "if the current page of the number of new products can reach the hands of 1% of the trip is very great." "He counted the accounts, so long as one company can occupy 5% of the size of the market, it has a 1 billion share." A shares listed in the domestic market, given a 50 times times the PE will be able to achieve a 50 billion of the company, "Is this not exciting?" Mentality changed "Cao Kai" is the name of the "Kay" in the word, the new company's name reflects the Cao Kai of ownership, the sense of belonging to the emphasis. "The most essential reason for leaving Seventh Avenue was not that I had lost control, or because of the differences in ideas, I had not been able to do exactly what I wanted to do." "Now, who will hold the investment team in the early stages and then gradually act as an incentive to reward the shares to the development team." In Cao Kai's view, the biggest obstacle to being an investment team is not the stakes, but the inconsistencies in the idea of game development or the treatment of the cause. "Like the Seventh Avenue of the year, if we care about shares, there may be no" Divine comedy "--anyway, it's been acquired, not holding. But I actually did not consider the issue of shares, I did not even know the number of shares of the specific figures. "So Cao Kai will stress with the investment team that the two sides are cooperative and they are partners." No matter what the beginning of the emphasis on holding, in addition to the two-win consideration, there is a greater goal is to ensure that the overall structure of a group, and eventually be able to package the listing. The goal is to be listed in a shares. For that year the goal of the Seventh Avenue set on the U.S. stock market, Cao Kai also summed up a big lesson: "For leaving Seventh Avenue, I heartache but not regret." But if I do it again, I'm sure I'm not going to follow this step-I won't be looking for so many angel investments, and I won't even melt a round. "That year, the Seventh Avenue because before has been taken are RMB funds, is a pure domestic companies, so want to go public only at home." But in October 2009, because the game company in the domestic a share listing window gradually closed, Seventh Avenue had to choose the U.S. stock listing, so the renminbi fund must be converted into dollar funds. Finally Cao Kai chose Sohu's tour. And now the A-share, listing opportunities, openness has greatly increased, so Cao Kai choose to place the listing target in a-shares. Because the first game of Seventh Avenue, "Pinball Hall" has been very lucrative, the company's cash flow is very good, angel financing, including the next round of investment money is not spent. Cao Kai also therefore to the current investment team product issues, especially in the direction and project, the first product profitability, cash flow adequacy, survival pressure is small, will not rely on financing blood transfusion. In addition, some milestones in the development of the game, as well as the end of the project, who will also participate in order to ensure that the quality of the project to maintain a high level, while the release of resources and capital to support.