Chen: two times start to fruition

"If only from the point of view of wealth, my personal investment over the years has been enough in return for me to retire." "Chen Yi Zhou's self-assessment seems to confirm his two-time venture." When someone who is familiar with him is talking about Chen, the first positive thing is that his investment feels very good. Perhaps this affirmation is not the most flattering compliment for an entrepreneurial boss, as more people are more inclined to admit that they are "entrepreneurs" than "capitalists". Fortune 30 million dollars will alumni sold to Sohu set now Chen's resume, although Chinaren (alumni) has created the myth so far no one can surpass, but Chen a boat individual success is from 30 million dollars will Chinaren resell to Sohu began. One of the details is that Chinaren first start-up funds are basically all from Chen's investment income, after leaving Sohu, Chen also waited until the Sohu stock price rose to the highest point before choosing to sell. "It's like riding a roller coaster, and it's going to go on and on." "In 2007, Chen Zhou recalls that experience," I was very confident at the time that I could create a company with a market value of 1 billion dollars right away. "But Chen Yi Zhou this" will be able to achieve the dream "has been dragged 5 years and 5 months before the end of the soft silver with the help of the world recognized. November 2002, Chen returned to China, with the exception of the SP service at that time for the main business of the creation of thousand oak interaction. At that time, and Chen co-founded Chinaren and Ning has been the "air network" to do the wind, and the market similar to Tom, Friends of the century, the three portals such as the first into the Bureau have completed in the SP field of horse enclosure. After getting 48 million dollars in venture capital, Chen finally did not choose to turn the oak into a second aerial network. From the current situation, Chen's choice may be "a blessing in disguise", but even Chen himself can not be recognized, missed the SP business Best development opportunity, also let Chen once dream of the first burst. Despite the lack of recognition of the capital market and the failure to bring enough myths to the first phase of the venture, the company has won the opportunity to survive in the first time by virtue of the mature profit model and cash flow of the SP business. and understand that "make quick money is not their strength" Chen a boat also finally began to rethink their future career exactly where. "Mop" has been paid attention to in-stock swap purchase "I'm a community, that's what I'm good at." Although there was no clear business model at the time, and no idea that SNS and community concepts are so hot today, I already know what I can do and what I should do. "In 2007, Chen Yi-Zhou said in a press release announcing his entry into the high school and white-collar market," I don't admit that Facebook is starting to following because of the fire, and we've been exploring it in the field since 2002, or even 1999 Chinaren. "ChenThe term "exploration in the 2002" refers to Dudu.com, a Korean-style community website in the name of Oak, which is finally known for its "Dudu accelerator" and "rogue software" allegations. People in the industry said there were not many rules for the Chinese Internet at that time, by virtue of the professional team's understanding of technology, service providers are often able to actively control the user's network behavior in some ways that are not ethical, and turn it into a stack of traffic and "Alexa rankings" (the most authoritative site rankings in the world). Used to trick shareholders, or potential investors. Chen later recalled that, from the very beginning, he realized that such "unconventional operations" would not be a long-term solution, "can not be a chinaren?" It's not real, and it's not what I want to do. "In March 2004, the company acquired a personal website called" mop "in the form of equity substitution, when the mop forum gathered a large number of young people to share information about anime and games, and it in this virtual space that breaks countless rules. Due to the site architecture and other reasons, only a small number of ads to help the webmaster to pay the server and bandwidth cost is already high enough ——— although MOP was only two servers and 60M bandwidth. At that time, China's first Internet group is experiencing the largest revival in history, NetEase shares all the way close to 100 of dollars, the Internet circle began to replicate the "China's richest man," including the wealth myth. In such a big context, a "second-rate sp" to buy a personal website appears to be insignificant ——— not even a press conference, according to a well-informed person. But a year later, with the popularity of MySpace and Web2.0 in the world, the cat's mop became China's most Web2.0 and rebellious quality company ——— the myriad terms in the mop forum began to become the standard Chinese Internet language. More crucially, Chen and Oak also received attention from mainstream capital markets for such an acquisition. [Next] expansion of more than 2 tens of millions of U.S. dollars swallowed nearly 10 sites in the completion of the mop after the acquisition of a year and 03 months, Chen a boat in July 2005 from Accel to get 10 million U.S. dollars of venture capital; nine months later, The company also received a total of $48 million trillion in investment from four investment companies, including Lenovo investment. With the wind poured into the thousands of oak group expansion of large-scale operations. Insiders said that at that time, the group's SP Business Oak interaction can still bring considerable cash flow and profit, but by policy regulation and market saturation two-way impact of wireless value-added services has begun to show the inevitable weakness. Before the international mainstream capital market realized this point, all the SP are in the race against time, but Chen a boat of the thousand oak seems to have no choice. Chen a boat in the first financing in place one months after the start of the acquisition action. The company that was bought is called Uume,The founder is Chen's alumni, Mrs Lau, who brought back a ' six-degree space ' theory of dating from the United States, meaning that any two unrelated people can pull relationships through a six-tier network. "It must be too late to do it, then buy directly." "Magnanimous Consulting general manager Cheng Tianyu said. At that time, Mrs Liu said that in China, the concept of SNS and the market are still far from mature, "the choice of mergers and acquisitions is also very reasonable." This prophecy became a reality in August 2005, after Uume merged with Oak, he served as the COO of the Thousand Oak group, in charge of the operation of the online business. Chen expansion of the pace did not stop, at the end of 2005, the well-known it community donews become the assets of the Thousand oak. "The consensus reached with investors at the time of the first financing was that all operations around the mop to build a Web2.0 community, including the SP business, would surround and serve the core competencies." "In fact, ' Dick ' is more difficult to succeed than ' boss ', and if not enough capital to support it, it will be very hard," Chen said. "From 2002 to return to business start, Chen a boat in more than 2 years time through various means" swallowed "the close to 10 websites, the business scope involves all popular concepts at that time. A long line of layoffs has caused some areas to be evacuated too late because of the long front, while all of its sites are in sync with the launch of new products and services, in a period of time the most let the thousand oak PR people worry about the problem is "no way to explain to reporters what the company is doing." More crucially, even Oak's own staff may find it difficult to answer this question, because the product is too much, from testing to operational maintenance to the promotion to the service, almost every aspect of the person in charge have to face in a very short time and different specifications of the task ——— has left the thousand Oak Shenzhen branch staff told reporters, In less than 3 months, she accepted 7 different product promotion tasks, and "no focus", or "every task is called the Focus", but "no project lasted more than 2 months." Chen a boat to investors drew a ' Starium ' map, but the last stars are all over the sky, the moon is not found. "Cheng Tianyu said," the average force of the result becomes an inevitable, Chen a bit too obsessed with the expansion of the capital, even the digestion of time can not be left to themselves. "The hidden dangers of the expansion began to emerge after China Mobile adjusted its SP policy in July 2006. Because of the decline in the SP business revenue, Thousand oak instant feel the cost of long product line pressure. In this context, September 26, 2006, thousands of rubber officials announced the layoff of 150 people; At the end of 2006, the second job cuts in oak, 1/3 of the workers lost their jobs, and in early 2007, nearly half of the workers received redundancy notices. At the end of February 2007, Chen a boat in the recognition of "layoffs end" when recalled that his 2006 years the biggest regret is that some areas to withdraw too late, not enough foresight. [Next] frustrate more than 40 accounts for more than 40 chicken legsEmbarrassment actually Chen Yi Zhou to the first experience of the campus is a sense of frustration. Shortly after the launch of the website in December 2005, Chen began contacting its founder, Wang, and revealed the acquisition intent, and said it would develop a 5Q campus network to compete. But the first phase of the negotiations failed to reach an agreement. During the summer of 2006, the 5Q Campus network and the school net of the independent development of Thousand Oak had a fierce user scramble. Chen used the approach is "to 5Q registered users to send chicken legs," and Wang chose to the user online relationship to the reality of the way. The final result let Chen a boat extremely depressed ——— someone in the 5Q registered more than 40 account number back to the net after showing off that they have gained more than 40 chicken legs. But Wang, who is not adept at capital operations, has not been happy for much longer. At the beginning of the freshman year in 2006, Wang almost without any bargaining process in the financing problem, sold the school net to the Thousand Oaks within one months (there is news that 2 million dollars, less than 20 million RMB). and fully aware of the value of the net users Chen a boat in order to minimize the loss of users, simply completely abandoned the independent research and development of the 5Q page, instead of the original 5Q users into the net. "Typically, it is the acquirer who consolidates the acquired assets into their existing resources, and when they overlap, they are often bought." "Cheng Tianyu said," But this time Chen a boat in turn, preferring to abandon the resources of independent research and development, cannot but say is a wise decision. Because of the maximum retention of the core users, the network in later and 51.com and occupy the seat net of the competition in the opportunity. "The story that happened between the oak and the net has fully embodied the contradiction and persistence of Chen character." Because of the September 2006 acquisition of the net, it is the first round of the Thousand Oaks layoffs began. New Soft silver in the net "China Facebook" concept "thousand Oak's entrepreneurial bumpy road is still very long." "Last week, Chen Yi Zhou in his personal blog to get a huge financing incident," said, "the next two years, we will be very uncomfortable." But we will stick to this position, no matter what the final victory is, we firmly believe that the net will be successful, Thousand oak will be successful. "According to the most popular explanation, SoftBank's son is so generous, largely because of the value of the" Chinese Facebook "concept, so the first phase of the 100 million dollar investment will be used in the construction and expansion of the campus. With Microsoft and Li Ka-shing firing the company's market capitalisation to $15 billion trillion today, Facebook has become the next myth in the global internet world that is most deserving of VC expectations. "What is the most fundamental change of the Internet to human society?" is a change in the way we communicate. "Chen said," and SNS on the Internet the most fundamental change is what? The same is the change in the way of communication. Why the net is valuable, is here. Real SNS is the largest application of wireless internet. It and the search, the portal will be a levelOther applications. 4 of the top 10 websites in the United States are SNS, and China is also happening. And with the popularity of mobile phones and digital cameras, this speed is accelerating. "Like the video bubble of the year, SNS still has a lot of bubbles in China," he said. Chen said, "Although many small companies do not have the chance to succeed, investors will still give them a little money to try." Their attempts will cost us money, so we need to prepare enough money and spend them. We do not want to burn money, but we can not prevent others to burn money, our only way is, with the smallest fire, slowly burn the other side to death. ”