APP more and more valuable?

Author: Ke real

When you read this article, today's top APP, which is the Beijing Beat Beat Technology Co., Ltd. ("Beat Bye"), has completed a $ 100 million C-round financing of Sequoia Lead, At the same time with the vote. Zhang Yiming "byte beats" valued up to 500 million US dollars.

APP more and more valuable? In early 2014, Android Application Search (now expanded to "Mobile Content Search") APP pea Pod B round of financing 120 million US dollars. Going forward, Baidu acquired 91 Wireless with nearly 1.9 billion U.S. dollars. Also, close to the myth, Facebook announced the acquisition of Whatsapp 19 billion US dollars.

The number of users dazzles the valuation. From Zhang Yiming figures: Today's headlines currently download activated users 120 million, more than 13 million daily active users.

The following is the "Entrepreneur" & i dark horse exclusive dialogue Zhang Yiming, his $ 500 million content APP is how to make it?

"Entrepreneur": When it comes to the product well, the number of users to reach a certain number of naturally appear appropriate business model. If the current cool news well, the possible profit model is what?

Zhang Yiming: Cool News what direction is unknown. How to make money, big direction, to be what kind of company are not clear (do general search or vertical search, etc.). When I go, cool news selling brand advertising, selling auction ranking (similar to Baidu), (advertising) by the transaction (volume) have a charge.

If you look at it now, I think it is no problem to pay for it. But the product, I think we should first make the product model, (then cool news) has not yet reached the stage of the revenue model. I think it should not be too hasty To spend too much energy on the revenue model should (spend more energy) to provide users with more value on the product. The expectations were still too high, the product itself is not very good looking for the model.

"Entrepreneur": Net did not do at home, in addition to the rise of happy network, is it because of this form of outdated?

Zhang Yiming: I think anything will be out of date, QQ is outdated, Google may also be out of date. Outdated does not matter, the key is that you can not make this enterprise your product with the times, let it meet the needs of users as much as possible. Even if this product is outdated, can this product continue to produce good products, the so-called obsolescence is not completely without demand, is that it may account for the proportion of decline.

I think do not expect a product unchanged, in fact, Facebook (products) continue to evolve (to maintain the number of users), it later acquired Instagram, WhatsApp acquisition, but also to keep it out of date.

I feel happy net and domestic such products, not without a chance to rise in China. Including everyone now, everyone does not think it is an alternative. You did a little worse, QQ done a little better, weibo done a little better, you naturally declined, (other products) to replace your needs.

"Entrepreneur": Do you think today's headline model will be replaced by a new, possibly better model?

Zhang Yiming: I think this is very long, like a search to become one, the more basic the longer the demand, the more common the more common, people have some basic needs, I think the recommended information is one, I think it will be pretty long of.

"Entrepreneur": whether the possible profit model of the year?

Zhang Yiming: I think it is accurate information advertising. No income at that time was rice, the product is still very early.

"Entrepreneur": ninety-nine room at the time of the profit model is what?

Zhang Yiming: There are some websites we give it traffic, there are also intermediary companies (including its official website) to pay. At that time, the APP did not make any income and only made income on the webpage.

At that time nine or nine rooms still lose money. A big problem is that the property is a low-frequency application, you have to continue to attract users, (users) spent 1,2 months do not have. (Real estate applications) industry needs to profit by poor, you buy or attract users to come over in his life cycle - for example, you cost 10 dollars, you want to make as fast as 30 dollars - commercial realization is very important , More like a traffic business.

"Entrepreneur": Why the headlines today do not vertical category books?

Zhang Yiming: demand is not high. The first is not so dependent on the content, a few months can not read several novels, you do not need to recommend opportunities, I get your hobby frequency is too low. Second, (for example, fantasy novel) to see immersed in the process to go inside, has no effect on real life, it is more difficult to recommend. Is to look at fantasy novels fantasy novel who do not see, from his job occupation there will be no special (difference), this is his inner world. Therefore, we are far behind with the recommendation of Pan-information, we feel that we should hold back not to make long content.

"Entrepreneur": Do you think the short content is more vitality?

Zhang Yiming: I think the shorter the more vitality. Shorter and faster circulation, the faster the flow of information, the shortest information, the better the price, the social significance is also great. Often people complain that people are not studying now, and want to be a good reading software. Why must reading software be used? Why must we use books? Before 07,08 will see (book), Note: Zhang Yiming in Microsoft, due to the workload is light, then read a lot of books within six months. In addition to technical aspects, he is more respected "SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE" (seven habits of highly-skilled persons), "live law" (Japanese entrepreneur Inamori masterpiece), "few people walk the road" "A SENSE OF URGENCY", "THE FIVE DISFUNCTIONS OF A TEAM," "Foundation Everlasting." Now do not have to read, and now I see millet, millet a week to see the latest report, Lei Jun's article, after I read thirty, fifty after no better than a book? Fragmented, most of the contents of the book were fragmented (content) replaced, not necessarily need a book.

"Entrepreneur": Do you mean getting information from the book?

Zhang Yiming: Yes, I said the book is not that the book has been extinct, math books to be ... ... In fact, math books are uncertain, in fact, I often encounter problems I have Wikipedia, of course, not all the books are not, very large Part of the original 100 books from the information, it may be 30,70 may be replaced by short content, it is normal. Some entrepreneurs may like to read their own books, or like the feeling of the year in the library, is always want to read this book. Now I read the book also specialized research, reading mainly to see only two categories, entrepreneurship and beauty president only these two books, no other books to read, including the management of the book are no one to read, it is a small minority. I think this is not necessarily correct, for example, the class management books, (inside) a lot of things through a good article replaced.

For example, I recently watched an open course video (such as Yale open class) some courses to me better than a book, it is clear why the book appears in the form of it? Many entrepreneurs, in fact, I read a lot of books before, I read loyal users, I think many entrepreneurs read what he wanted, and later look at the data to see is not what the market needs.

Including depth reading, in many cases ordinary people he used to read the newspaper, listen to the radio, short messages, and some people can read a wide range of light newspapers. I have seen older people, he also read a variety of newspapers, briefings, organize the pieces together, but also knowledgeable. Through the observation of the newspaper, but also understand the political economy, I think not necessarily a book.

"Entrepreneur": Investors are currently very concerned about the content of community-based production, how do you think?

Zhang Yiming: not particularly fancy, to some extent (community money) as a fallacy. China is really profitable company, not many communities, Baidu is not, 360 is not, I think Xiaomi is not, it is just some fans, then 3M (Minnesota Mining and Manufacturing Company) and other companies also have many fans, the community In general, forums ah, End of the World, Xici alley, knowing and so on.

So now many people think this thing how to rely on the community, I heard that time, he is a tool that is a community. You think, the horizon is not profitable, microblogging is not enough money, various forums, Xici alley is not very profitable, only sns Tencent and facebook is, Apple is not. Why do we always want to rely on the community?

End of the World, West Temple, nineteenth floor, happy these are not good enough? Millet community is a customer service forum, they do not have the same community, not a concept. I am very strange, why investors always want to rely on the community, 360 is not a community, the search tool is not a community, Jingdong is not, are basic services well done.

In fact, your basic tools to do well, it is sufficient, for example, Mito Xiu Xiu it is not a community ah. Jagged is not bad in the community. The experience from the past five to ten years shows that there are many forums that are not a mainstream one. They are not enduring, but search and security are enduring. Thunder, Youku have also engaged in the community, Lei You what, (community itself) is not very important. They all try to be good communities, as if to use community to fill their feelings of insecurity. Not many communities make money, large and small, no examples.

Previously Cool News also engaged in a thing called cool frog, but to see what products because of community-based special value.

"Entrepreneur": I feel a little bit of Steve Jobs on your temperament.

Zhang Yiming: Fortunately, I did not feel so emotional.

"Entrepreneur": way of doing things on it.

Zhang Yiming: I am more rational, my passionate speech in the company generally do not, our company more honest, direct communication with the directors, including recruitment of the company's condition is very clear to tell each other, the company's status quo, valuation, stock Happening.

I saw Jobs English version of the Chinese version of each read it again. ("Steve Jobs") The first half has a problem, that is, he did not (management) this thing, think what the product is good what, the company complained. Later he returned to the company to apply for a number of options, his first quarrel with the board is to buy options from the company, which is his management tools, he wants to stabilize the people, the practice is not the same. I think he has some thinking, not necessarily said by myself.

I think it is quite troublesome, and then there are many employees, including complaining about how to deal with the recruitment speed, turn positive, turnover, until now I think it is quite helpful. I think basically did not make any big mistakes, a lot of start-up companies in the core team fall out, go away, or enter a good person, closed, we are all fine.

"Entrepreneur": news portal clients such as Tencent and Sohu have also recently introduced the news recommendation function of "Thousands of Thousands of Noodles" according to the user's preference. What impact or threat will it have on today's headlines?

Zhang Yiming: I know they have some (in this regard) attempts, I think normal, not care too much, for us (for the moment) according to their own ideas to move forward the most important, do not look back, without exception.

In addition, the recommended features of the portal client and the idea of ​​today's headlines is still a huge difference. There is a huge difference in the tendencies of whether to produce content, whether to have people (editors), whether there is a platform or not.

Tencent so big (the company) just a small function (on the line), we can not be arbitrary ah.

I think it is not easy to do a good job (content recommendation), so I still pay more attention to myself. The same to them, we need to do deeper and better and harder to catch up.

Threats define different people differently. I have always had a sense of crisis since I started my business, and their actions do not increase (sense of crisis) without these fluctuations.

"Entrepreneur": In your area, as far as Chinese people are concerned, are you a technical expert or genius admired by you?

Zhang Yiming: No, not now.

"Entrepreneur": foreign?

Zhang Yiming: Google does a good job.