American Mission Network CEO Wang: Entrepreneurship allows people to maximize the value of life play

Moderator: I am very glad that everyone came to our scene in the evening of Friday, and I believe it is because Wang's total charm is big enough. In fact, I think I may represent a lot of netizens, including our Sohu have some questions to ask Wang General. The first thing to do with entrepreneurship, including your personal interests, is to stay for a half hour. First of all, let the King talk to us the most about the development of the United States now some of the situation okay?

The United States Group Network in the Local service group to the largest national scale

Wang: Hello everyone, I come to introduce the situation of the United States, the United States Group Network is the largest group buy 2.0 of the site, we are last March 4 on the line. Up to now about 1.5 of the time, we from the first city of Beijing, now developed to cover 97 cities nationwide. Then the group initially had only one group buying project each year and now has hundreds of new group buying projects each year. Sales also from the first single sold 75, to now can sell 100,000 a day or so. Sales of more than 5 million. In 1.5 time development is still very fast, this is to benefit from the entire Chinese e-commerce market has accumulated a long time, so when we use the United States to do business services E-commerce, the hair-trigger development is very fast. In the process has been a lot of colleagues to join, various places to join the United States, from the initial 20 people, the country has more than 2000 people. In addition, we have two rounds of venture capital. The first round was last year's Sequoia Capital, the second round last month's Alibaba leader, as well as the Northern Aurora Venture and Walden International. 1.5 The development of a lot of changes, because the service industry E-commerce Market is very large, now is only the initial stage, and then there will be a lot of interesting things happen.

Moderator: I believe this is a relatively large growth. I remember the March 2010 when the American Regiment was just beginning to do it.

Wang: Yes, we are on the March 4, 2010.

Moderator: More than a year, the number from more than 20 people, developed to more than 2000 people, this is relatively large growth. Just mentioned a digital sales 5 million, monthly sales, or daily sales.

Wang: Daily sales.

Moderator: This is a pretty large number. I feel that from last year to this year, the group buying industry seems to have been a lot of talk about an industry. Especially to this year, we see more of some less good sounds. Although we see a lot of rapid growth, such as seeing a variety of recent cases of digging people, there are even some malicious attacks between companies. Why do you think that in this situation, there will be so many more sensational news, is not exposed to some of the industry mentality?

Wang: Because the industry is growing very fast, there will certainly be a variety of things to come. But I think these are just branches, not the mainstream. The mainstream is still saying why it can be fast because I think it satisfies the needs of consumers. Because Internet products should be full of customer demand. In this part of the United States, we have two types of customers. A class is a C-terminal customer, is the consumer, a class is B-end customers, that is, businesses, local businesses. Because there is strong demand at both ends, we connect them through the Internet through the United States, they develop very fast. At this end of the C to provide consumers with the value of the United States to provide you with the local consumer guide to tell you where to eat and drink well, but also to provide you with a deep discount. This is the value for the C end.

For the value of the B-end, it is a very effective, paid marketing method for the merchant. Once a restaurant, or a karaoke to attract new customers, may be sent leaflets, to the local radio, newspapers to advertise, are very inefficient, and the effect is not measurable. If he works with the United States, these are all solved. So in this process, of course, there is a lot of financing, or a lot of hatching data, or digging people, is a thriving system under a traditional branch.

Moderator: We think that this model is particularly good, so come in a very large number of people, all kinds of entry, so it will lead to a negative message out?

Wang: In fact, I would like to ask another question, I am a product manager from the background, the first thing to do products need to know what kind of person to face. What kind of user composition are you here?

Moderator: Or ask a question, the scene used the United States Regiment of the hands of a strike? More than half.

Wang: Thank you.

Moderator: I think that later, there are interactive links, such as the use of the United States to feel very uncomfortable place, or very cool place, and Wang this side can communicate a bit later. When we come, there will be some harvest, we let the King always go when there are some harvest.

Wang: I'm quick to ask a few questions, how many group buying industry practitioners here, give me a hand? Thank you, it seems that the proportion is not very high.

Moderator: I will continue to ask this side, I saw a lot of recent group buying website on a number of promotional activities, including some kind of lottery. This year and last year there are some differences, this year to sell the kind of purchase site, or the kind of sales of a higher proportion, the United States Regiment this aspect is how to do it?

Wang: I just said that the United States to locate their own local e-commerce, so we have to contact consumers through the Internet local businesses, so most of our energy, the absolute mainstream is placed on the local service business. Because according to the data we know, now in the local service of this group, the United States is the largest group. If you add to the material, there is no doubt that Taobao is the most cost-effective, and probably more than other home add up to even bigger. I think e-commerce inside do goods, and do the service is two very different.

Moderator: For example, you have some funds with Alibaba, after cooperation, for example, with a good deal, common some in-depth cooperation?

Wang: All cooperation is need to have a win, all cooperation is helpful to each other is can, but not with the investment relationship quarrel.

Moderator: That means there may not be a lot of cooperation now.

Wang: Good deal they are also mainly to do commodity, in that respect they are very strong. And the United States to do gourmet Service group buying this aspect.

Moderator: I remember this March, when you heard a speech, I do not remember the figures, as if to take 500,000 yuan in the local to do some acquisitions, or cooperation?

Wang: 50 million.

Moderator: Sorry, I think too little, may accept a station to 500,000. What's the status of the whole situation?

Wang: We have a few small acquisitions, but later found that because industry integration is very fast, so the local small group buying site, large-scale integration of the significance is not big.

Moderator: In fact, the integration of your management will be more difficult to do?

Wang: So to speak. Because the market changes very quickly.

Moderator: Now in every place or send someone to do?

Wang: We have business in 97 cities, because we do local e-commerce, so there are people in the local.

Moderator: Before listening to some news, do not know that the United States or other group purchase site, may have been crazy last year to develop a number of cities, this year has also shut down some cities do not develop, the United States have this situation?

Wang: We have 101 cities, 4 are turned off.

Moderator: Why turn it off?

Wang: Some, because the local market may indeed be doing too early, completely immature. For example, my hometown of Longyan, Fujian, we tried at that time, behind the thought that this may not be very large city size. There are some other cities, that is the main reason, or whether we do anything to see if there is sufficient demand in the locality.

Moderator: Is there such a situation? Maybe last year, many group buying sites, not just the United States, last year, some of the situation expansion too fast, the consequences of expansion too fast, sometimes in the local service may be detrimental to the development of some brands, leading to such a situation?

Wang: For the United States, we are not seeking to focus on the largest number of us, every place we can do this thing well, this is really good for consumers, and then be able to achieve the local sales first. So it's not that you're opening 200, 300, or more, it's not a matter of making a head decision, it's doing a lot of data analysis. Do you know how many cities there are in China?

Moderator: A lot, you mean a few lines of city?

Wang: You can add everything, and recently buy something online. I see it down there. 1200 cities nationwide delivery can be delivered, I think this is a bit pompous, according to my understanding, the Chinese name inside with a city word, whether it is the municipality, or vice-provincial city, or prefecture-level cities, or more than 700 municipal counties, of course, 4 municipalities, and then the region this level, The province of this level of China 33, divided into prefecture-level cities, the region of the country should be 290 or so, close to 300, to the county, China has only more than 2000 counties, which with the city word, county level of about 700, we now do 100 of them. We decided to do and not do, not completely pat the head, but according to the local population, per capita income level, the number of Internet users a lot of analysis.

Moderator: After listening to this, I still feel that the acquisition of this matter is not very reliable?

Wang: Unlike our previous plan, the industry has developed very quickly, and acquired a desire to buy something.

Moderator: I recently had a site where they might be in a frenzy to buy some sites and do a lot to go public. Is there some risk in such a practice?

Wang: Perhaps the purpose of each family is different, the practice will be different. In the end hope really optimistic about the fact that local e-commerce, a solid consumer this end, business side do a good job, to do a product value of the fact. Or to say that want to melt a lot of money in the short term, and then make a concept, and then go to the market to leave, the basic purpose is not the same, then the practice is very normal.

Moderator: So you are more cautious in this evaluation. In fact, I believe that from the beginning of this year, there is a situation that we are more concerned about, that is, advertising costs such an increase, including Sohu, may be many sites are group buying industry, including E-commerce industry, the entire advertising pull, so the present is still good. I noticed that this period of time, the United States ad campaign is not very much, because advertising fees too expensive, or other reasons?

Group buying is not simple advertising but word-of-mouth communication

Wang: There is a deeper reason, in simple words, we believe that word-of-mouth communication is the most effective, the highest degree of communication, the most persistent approach. The United States group now has 10 million registered members, we have done a survey of 70% through the introduction of friends know. We hope that more use of word-of-mouth spread this thing, word-of-mouth spread before, but behind is because of the development of the Internet, especially the development of social media, SNS, micro-bo development, Word-of-mouth spread of the speed and breadth are greatly improved. This time you put your product quality good, word-of-mouth do well, the effect of dissemination will be very strong. Before a person felt good, he told others, can only talk to several people at home, and the office several people said, affected the office several people.

To later have a text message, can mass, can have dozens of people. QQ, MSN hanging on the signature, or change the state, may affect one hundred or two hundred people, you to SNS, Renren or a happy net has thousands of friends not surprised. There were tens of thousands, or hundreds of thousands of, in the Weibo era, and even millions of fans were normal. So everyone says a word, the scope of influence is bigger. The United States group adhere to the quality of our services to do a good job, so that consumers satisfied, and then use now more and more developed social media spread very widely. In addition to Word-of-mouth spread, we still do more online, because we are a website, is an E-commerce site, we are spending on the Internet. Things on the internet can be unified more clearly. We know what channel is good, how much energy, according to the data to do continuous improvement and input.

Moderator: I understand, for example, when you are starting a business, although the money, but the scale of money is not particularly large, not to meet the needs of all aspects of the development of enterprises.

Wang: It's not about the amount of money, it's about the value of the money.

Moderator: Or seek ways that might be better for you.

Wang: Now advertising This word I think will undergo a change, we know that advertising is English translation, but advertising is the name by definition is a broad-type communication, so advertising this thing, if we look at history, it is with the development of broadcast media development. Media communication channels are divided into two kinds, one is broadcast type, one person said, others listen, is one-way. The other is an interactive, two-person dialogue. About five centuries ago, the German ancient Rome they do international printing, back began to appear in newspapers, began to appear books, began to appear more modern broadcast media. With the broadcast media will have ads, whether the print media, or back radio, radio, or television, are broadcast-type media, broadcast media in addition to content, put some promotional information, this is advertising. So advertising is accompanied by the birth of the broadcast media, but now there is a new media, not purely broadcast-type media.

Moderator: Is Word-of-mouth or interactive?

The promotion way in the social media environment is not limited to the traditional advertisement

Wang: Social media, social media in the development entirely with the birth of the internet was born. The most typical is YouTube, video sharing website. Is it an interactive, shared media, or a broadcast media? Originally from the origin, it should be an interactive, shared, I send a video to friends to see. Of course, because the back is looking more and more, there may be thousands of people watching, whether it is entertainment programs, or the U.S. presidential campaign, in fact, the coverage than the United States a television station even larger. The development of technology, the combination of interactive media and broadcast media, and the back of Facebook, SNS and Twitter, make social media very powerful. Social media and broadcast media is not the same, broadcast media is generally a one-way, a person hair, a pair of many one-way. May draw a picture to come out is the star shape, in the middle has one point outward disperses. One of the biggest features of social media is its reticular, fundamentally different. I think that with the birth of social media, it was said that there would be social advertising. I later thought that the term social advertising is wrong, there will be social promotion, but there will be no social advertising. Because advertising is broadcast-type promotion, so advertising is accompanied by the birth of broadcast media was born. But with the development of social media, we will have new ways to promote, but not necessarily advertising.

Moderator: I ask a personal question, because I remember last year when you were in the United States, including me and some journalists friends in the chat, they will have some questions. They will question, Wang in fact we feel is a technical person, including before doing school, but do buy this thing, big is actually operating or very important, so we have some questions, questioned the United States can do it. So do you think that in such a process, the strength of your operation has been played out? or how do you adapt to the process?

Wang: First of all, this thing is not a person to do, this is a large group of people, we are optimistic about the future of E-commerce, to work together to do the United States. I didn't do it alone. Any thing, especially the emerging things, learning ability is very important. It appears after a thing, and there must be a correlation, there are differences, the earlier find this difference where, need some new skills, who can learn faster, training faster may become a winner. No industry is entirely from the traditional direction of the line. Before the network media is not all the original traditional media very rich practitioners to do the best. So I think this thing that the American Regiment does is very typical of the online and offline combination of things, the internet and the traditional very middle zone. So there are a lot of new things to learn, need to have a good learning ability, adaptability.

Moderator: You think learning ability is the most important, quick to reflect the ability. But how did you develop your line? At that time, many people questioned this aspect, feel that you promote online, offline resources on the one hand may lack.

Wang: Business is a good result, because the merchant is a businessman, he is very clear. Does he have a relationship with you, not because you're friends with him or if he's working with you? For him, we speak very clearly and simply. If you cooperate with us, don't pay the money in the early stage. Not like advertising to pay a sum of money, there is no effect to say. But we can help you bring customers, can help you bring orders, can help you bring consumption, can help you make money. So as long as you put this truth clearly, at the same time you can promise in the back of your commitment, really help him bring guests, really help him very fast knot, and then the money to him, this cooperation is relatively stable.

Moderator: Finally for everyone to ask a question about money. Before I heard that the United States Regiment also has a sum of 50 million dollars of financing, I remember the last time I left, as if the vice president of your company said Wang Why go so early? It was because of the third financing went on. We also want to know how the new financing situation is now?

Wang: I do not know if you have noticed a feature of our whole team style, we are accustomed to do it again.

Moderator: I think it seems a little strange this time, is there any recent progress?

Wang: We're sure to tell you the whole thing.

Moderator: Many people are saying that the second half of the year financing environment is poor, winter may come, the whole group buying industry may have some shuffle, this How do you see it?

The American Regiment is ready for the winter.

Wang: I don't think it's the most important thing for the American team whether it's winter or not. Because we have already stockpiled enough funds before this time, we are also more long-term mentality, not to say that must be listed in September, there is no such short-term pressure. So we still want to say that on the one hand there is enough money, on the one hand we have enough patience, we do this thing together.

Moderator: According to your observation, I believe there are some entrepreneurs at the scene, the second half of the financing is not more difficult?

Entrepreneurs should not put too much money into the first place of user needs

Wang: Because I am not a financial person, so the big environment is not good to evaluate. I think it's possible to say that the first half of the year was very hot and it was certain there would be ups and downs, but that's not the most important thing. If you are an entrepreneur, you watch this thing, the environment is good, the financing environment is good, there is good financing environment, financing environment is not good financing environment bad practices. Because the environment is not good, competitors are not easy to emerge, in a fair environment, the same environment to continue to compete. As an entrepreneur, the most necessary concern is not the financing of things or good or bad, or to care about the end of what kind of people to solve the problem.

Moderator: Because Wang has come to Sohu, my side because it is the owner, there are some very malicious questions dare not mention, the following to everyone, we have any questions can be casually asked. Now look at this Weibo, Wang is always talking about the process has been rolling, the presence of people do a lot of homework. First of all, the question of Weibo.

Group buying industry is far from achieving the ultimate development space is very large

Wang: I think that innovation can never be wrong, the world will go on forever, and then the product will change greatly and very small. But I don't think we can innovate for the sake of innovation, for example, if he mentions lbs or check in, it's not that new, it's going to be done in about a year or two. Then it was very hot at first, but in the end it didn't seem to solve the problem fundamentally. So many people after a period of time, enthusiasm on the decline. So back to the United States, we still have to do one thing to achieve the ultimate, not this thing not, and then another thing to do. I think group buying is far from the extreme, and our model itself is very established. Consumers are in demand, businesses have demand, one end buyers, end sellers, we bring him together. The key is to be able to reach enough consumers, on the one hand, quantity, on the one hand, quality, whether you know enough about consumers, he is in what area activities, he likes what category of consumption. For business is also, both breadth, but also depth, the cooperation of many businesses, geographical coverage is full. In addition to the business understand how deep, he has what kind of demand? What kind of person he wants to attract. The two ends of the data both breadth and depth, and then the middle of better products, better technology matching, there is very good value. This thing sounds very simple, but it's not easy to do it well.

Just like the old traditional business is very simple, purchase, into the warehouse, and then someone placed an order to transport it out. But you have to put this simple thing to the extreme, it is hard to be solid. And it may take a long time, or a very, very capital investment. So I think this time is not a little bit bigger, this thing is not cool, not new, do something else. Or to put these valuable things to the extreme.