Chen on why everyone is not Facebook

Absrtact: Opportunity and regret are you still a lot of people asking you why you didn't end up with a Chinese Facebook title? Chen: Very simply, Facebook did not have Tencent. Tencent is already very big when we do it.

Opportunity and regret

Is it possible that a lot of people are asking you, "China Facebook" to go public, why didn't it end up?

Chen: Very simply, Facebook did not have Tencent. Tencent is already very big when we do it. Not only that, Tencent's IM communication function is more in line with the wireless internet a big application, you see the mobile phone under the three keys are operators, now these three keys used less, so micro-letter robbed the operator's business, will also affect us.

The internet has been surging many new opportunities these years, why didn't you catch?

Chen: My situation is different from Lei and Zhou 祎 them. Zhou from Yahoo, ran a company, Yahoo is not his. Lei can also leave Jinshan to rest for some time. I can't, my destiny is tied to this company. I have to take into account our main force, with the main forces of the survival.

I will still spend 80% of the energy in the main business, but the investment may be more strong, we have never stopped the investment, investment as long as you cast out, the seeds are planted, not too much time, but can help you breeding, help you learn. Lei the fund is very good, can help him to make money, also can let him continue to learn, keep the mind flexible.

Do you think it would be a little late to move 80% of your energy from the PC side to the mobile end?

Chen: You take this question to ask Lei, say you if late leave Jinshan two annual meeting how? I think people can not look back, can only look forward. Man's wisdom is made up of his experience, and you don't have that kind of wisdom without those experiences.

What is the pressure on you to transform Renren into wireless internet?

Chen: I've been working for so many years, and now I have to change my genes, change my work habits, and do all kinds of things. For example, you have to force yourself to work harder and fight your instincts. I've been on the market a lot harder than before, and I've worked a lot longer. For a while I graded myself. After each meeting, the Secretary to help me score, and then every week to statistics, analysis of data, what will be more open, what will be less open, I will do this.

This is not the way to go here now, because we are already in the entrepreneurial state. The entrepreneurial mentality to do things.

In 2011, when everyone was listed just in time for the PC business to transition to the mobile Internet, the new business attempt will have to come from the capital market pressure, now see the listing is the best timing?

Chen: It's hard for a listed company to try new business. Glutinous rice is an internal undertaking in that situation. If we start with the first, at least try to burn one more times. It burns more money. Shareholders will be unhappy, the share price down, affecting staff morale.

And the most important thing is that all of your data is under the noses of your competitors. At that time we only entered a few important cities, to maintain market share first. A few years burned tens of millions of, competitors are billions.

But I did not recognize the law, if I can foresee the first place today so successful, I will certainly at all costs to fight for the first, it will cost about 200 million, which we can afford, because the market to melt a lot of money. Since the possibility is not to complain about other problems encountered, what the disadvantages I also have to recognize that the listing of our various strategies have the possibility.

Persistence and compromise

Everyone did a lot of trying, but some of the attempts were soon to be tasted, is not enough to insist?

Chen: I'm very insistent on everyone. is to transfer it from the PC this red land to the moving black land, this process we will never give up. But on the other hand, consider the first to do anything to have typhoons and waves, and second is not what you are best suited to do. SNS We are certainly one of the most suitable companies in China. Start early, do a long time, even if the level is almost tempered.

But on the mobile phone, SNS is not the biggest wave? I think it might not be. But for me, I am happier to have a certain success in getting it from laterite to black land.

What kind of company will everyone become in the future?

Chen: Everyone this application, I hope to be able to get a foothold in the wireless end, now still not firm. But in the next five years, it will certainly have its own territory, as to how big, it is the market and user decisions. There is a part that will be in other places, we will try to achieve the ultimate, if you ask me, five years later, I am sure that the most valuable business must be new business.

What is the relationship between new business and everyone?

Chen: Everyone must be the foundation. With this foundation, the two new businesses of Internet education and Internet finance will surely accelerate faster. The new business depends on everyone and not on everyone. Like millet do software, a lot of experience is lei in Jinshan do software accumulation, there is a continuity.

We chose Internet finance and Internet education because we were making too little money and stocks didn't go. In fact, our users are not small, one months tens of millions of users, not visitors, not a few people all over China. But we have been relying on advertising to make money, which is too little. Our new business is geared towards everyone's user base, providing him with more services. Our people are about 20 years old, this is their most needed things, so there will be a relatively high conversion rate. In fact, we have been far away from the money in history.