Chen on Facebook shortage

Renren CEO Chen The first time he saw Facebook founder Zuckerberg six years ago.

Chen recalls, "all two of us wore flip-flops and chatted for a while in a tavern next to Stanford University." "In this brief exchange of peers, Zuckerberg asked a lot of questions, mostly about the Chinese market. "He began to be interested in China very early on. ”

Zuckerberg's first impression of Chen was special. He said, "the way he (Zuckerberg) looks at people is strange and kind of like religious leaders." On the other hand, when you speak, you can detect the very popular ' hacker spirit ' in Silicon Valley. He has a strong faith in his company, like a younger, more radical Bill Gates. The ideal of gates is to have a computer on everyone's desk, and Zuckerberg's dream is to connect the world. ”

The year they met, Zuckerberg, who was only 22 years old, and his Facebook had begun to emerge on the Internet, receiving a 1 billion-dollar takeover offer from Yahoo, when Chen a boat had already sold the earliest alumni Chinaren to Sohu and set up Thousand Oaks, that year, The cat's mop is tianya with the other.

I don't know how much Zuckerberg and Facebook have touched Chen's boat, but in the same year, Chen a boat back to the campus market, the acquisition of school (after renaming everyone), and last year to push everyone to the capital market.

With the passage of life, Facebook has grown into a social network with billions of market capitalisation and has been tested by the capital markets, and Chen, who is likened to "China's Facebook," says, "we still have a tough game to play". The battle is the mobile Internet. It's also a tough game for Facebook.

After a few days of GM's announcement that it would stop placing Facebook ads, the long-awaited Facebookipo again gave the industry a big surprise. It approached its IPO price twice on the opening day, and if it wasn't for underwriters paying a price of 1 billion, I'm afraid Facebook would break on its first date. Everyone on the day was affected, closing with a 4.93 dollar share price, down 20.99%.

Chen Zhou did not comment on Facebook's performance in the capital markets. In his view, however, Facebook's IPO does not mean a new round of technology bubbles, instead, he does not think Facebook will be as likely to be judged by some analysts to be over 5-8 years, because it cannot underestimate the ability of giant companies to be evergreen, Facebook, in particular, has built up industry barriers that are high enough.

"Facebook's current user base is large and realizable, so even if the number of users does not rise, it will continue to make money," he said. "Chen is optimistic that if there is no big crash, Facebook's market capitalisation is 80% more likely to double in the next 3-5 years."

If Facebook comes to China, how does everyone respond?

Chen the answer is: "This has not been seen, the enemy to say, I will adjust a few horses." "Because right now, everyone has another tough game to play, is mobile internet."

The lack of mobile internet is Facebook's Achilles heel.

"We have not yet gained meaningful revenue from Facebook's mobile offerings, and our ability to successfully achieve that goal has not been proven," it said in a statement on the risk factors of the prospectus. "Not long ago, Facebook announced a 1 billion dollar acquisition of a photo-sharing service with only 13 employees, 30 million users and 0 revenue, Instagram the strategic value of Instagram in mobile internet."

And everyone faces a lot of challenges. Chen once in an internal mail to all employees said, has been listed for everyone compared to get the Jingzhou Liu Bei, although sufficient fodder, but Jingzhou is easy to defend. At present, it is in addition to the SNS in the face of Tencent, Sina Weibo, such as the giant encirclement and suppression, group buying competitors are a lot of, and mobile Internet, Tencent's micro-letter, strange friends application of the Mo, met and other applications have begun to rise.

Talk about Renren in the mobile internet layout, then Chen a boat sighed, "(mobile Internet) is indeed for each company is a hurdle." ”

"We've spent almost several times as much on the mobile internet as glutinous rice. "Chen said. But it is also a market that cannot be ignored. At present, more than half of all users are from mobile Internet.

He said that the wireless strategy is now in place for all products, and that he has "wireless" as one of his KPI evaluations on a daily schedule of his performance.