China's internet faces new and old 05 entrepreneurs left

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May 29, 2010, Great Wall Hotel, Internet Webmaster Conference. More than 2000 people were crammed into the hall, and the same number of people were shut out by the security guards, a gathering of entrepreneurs who had not seen in China for years, and the Wang Jianyue at the scene immediately thought of 2005 years.

Wang Jianyue began to organize and attend entrepreneurs ' gatherings frequently at the end of 2004. At that time, in Shanghai held the first Chinese blog annual meeting, a group of bloggers for the first time to gather together, They began to talk about the WEB2.0 that had emerged in the United States, since then, Wang Jianyue has made two or three meetings a week, most of the time in Starbucks, with people ready to start a business or starting a business, including 51 of Shengdong East, Tudou's Wang and others. By May 2005, Wang Jianyue got an investment in ebay, and founded a classified information site in China, where he held a SNS forum in Beijing and Feedsky, a party at a hotel in the know-spring road that became a landmark party in Beijing's WEB2.0. Just after the party, WEB2.0 was formally presented by the media.

Frequent gatherings continue until the end of 2005, organized by entrepreneurs and venture capital. Everyone is excited, that WEB2.0 is the next Internet gold mine, even if the group of entrepreneurs are also infinitely confused, because they can not tell what is WEB2.0, including the entrepreneurs who have got venture capital, it is not clear where the direction of the company. Thus, attending these exchanges is one of the most important things for entrepreneurs in the 2005, and until the beginning of the 2006, the mass, high frequency of the gathering was gradually reduced.

2005, another pioneer of internet entrepreneurship in the spring is venture capitalists, after the dotcom bust two or three years after the dismal period, Shanda, Ctrip, Tencent, Baidu and other Internet companies to successfully launch a successful IPO to inspire investors confidence, "investors believe that the flow can make money, So he can say that you don't have a profit model okay, as long as you can do the user volume, the company will have prospects. Yang Hao-hu, founder of Net, said the story of venture capitalists on Silicon Valley and China's routes began to circulate in the industry. Yang Hao-hu in the United States to see people around to get investment home, and from the media to see Chen, MA and other entrepreneurial stories, he also returned to Beijing.

Feedsky's Lu Xinchin is the representative figure of 2005 years in Wang Jianyue's eyes. Lu Xinchin's choice of entrepreneurial field is RSS, simply put, is a blog subscription tool, Lu became a "representative of the People", because when all WEB2.0 entrepreneurs are still confused, Lu but with its unique passion, philosophy and he talked about Feedsky business model when the firm impressive. But years later, his partner, Sambo, admitted that he couldn't see what the Feedsky business model was, but Lu Xinchin insisted he saw it, "he said he saw it, and I couldn't say he was right, we had to listen to one, or we'd pinch it." "The end result is that Feedsky, who has not been profitable, has been sold to an advertising agency.

The 2005 faction of Chinese Internet is a unique group. Entrepreneurs in the 2005 have not been able to present entrepreneurial myths like Ma and Li, but the WEB2.0 apps of blogs, social networking sites and videos have finally become popular apps for Chinese internet users. WEB2.0 is also one of the most important drivers of China's Internet network, which has increased from 100 million in 2005 to nearly 400 million people today.

The people who have experienced bubbles and overvaluation, suffered from the search for business models, were baptized by the financial turmoil, and were more valuable to the younger Internet entrepreneurs of the 2010.

Standing in the hall, Wang Jianyue firmly believe that the next spring of the internet will come again, this time the upsurge is the wireless internet, enthusiastic entrepreneurs have experienced 2005 years of veterans, but also a new university graduates of a group of grassroots entrepreneurs.

If the Chinese Internet is really going to start a new round of spring and autumn, we can look at the story and summary of the Internet 2005 faction from the beginning.

Business model is not work

The hottest topic for entrepreneurs in the 2010 is 3G, wireless Internet, and the concept that is often talked about in 2005 is WEB2.0.

The 2005 is full of ideas, new concepts, new technologies and business models, though most of them are second-hand from the US, but at the time, as long as you can think about it, there are almost no restrictions on the entrepreneur. Traditional Internet dignitaries seem destined to be knocked down in this internet revolution, xingdong the banner of "Catching up with Sina", and the venture capitalists who deposited for many years went crazy, and the carnival came to a climax as the blog net gained 10 million dollars in the year. Of course, the subsequent story turns, the WEB2.0 bubble did not last long, most entrepreneurs failed to survive 2008 years after the financial crisis. In this WEB2.0 for the banner of the Entrepreneurial carnival, business model let many people indulge in it, but also let some people pay the price.

2005 and Lu Xinchin founded Feedsky, Sambo have their own dream, "we then dreamed that this thing will become a standard, a lot of people are using, I am very proud, and finally did a meaningful thing." "Now, he used two words to evaluate the original business," very two, he said, "You can take this as the title, WEB2.0 is two." ”

Feedsky's entrepreneurial field was the hottest RSS at the time. In fact, the American originator of its imitation, FeedBurner, sold to Google in 2007 at a high price of 100 million dollars.

This product has not been accepted in China, and what makes Sambo frustrated is that after three years in Feedsky, he found in the Web site that there were fewer than 1000 active users, most of whom were Sambo acquaintances, and for three years Xing used metaphors and explanations to try to get parents to figure out what they were doing. , "I did 2.5, parents Leng do not know what to do, you say this thing ridiculous not to laugh?"

Feedsky from the start there is no real business model, Lu Xinchin for the web design of the "business model" is in the user subscribe to the blog to add ads, "this thing is not reliable, because Feedsky no one ordered." "Sambo said. However, Feedsky still designed a seemingly perfect business model, a very technical content of the advertising recognition and distribution system, advertisers can be found in the system to fit the advertising blog, through this advanced automation system, Feedsky can be in line with their own needs of bloggers to send invitations, Ask the other party to write the article in line with the requirements of advertisers, bloggers in the release of the article, the system can even automatically detect errors in the article, or detect the article in what language is advertisers do not want to see. This allows Feedsky to have a theoretical "platform", and has an automatic, replicable "platform" is what outsiders seem to be a prerequisite for successful internet companies, the platform has also attracted investment for Feedsky, 2007 venture capital investment agency to Feedsky injected $3 million trillion of funds.

To this end, Feedsky formed a technical team of more than 30 people. In fact, Feedsky's platform system never really "automates" it. Sambo recalls, because Bo main situation complex, finally this set of automatic system in the actual operation into a "semi-automatic", each of the automated procedures are arranged to review the staff again, a year down, the company through the system revenue 500,000 yuan, far enough to support 30 of people's technical team.

Later Sambo left Feedsky to set up a blog marketing company, business model and Feedsky similar, but abandoned the platform and system, a total of 5 people hired, the company's business model is very simple, "after the list, in the blogger's article Last Post, ask the blogger you would like to write articles, If you are willing to QQ contact, in fact, the blogger came, you pay him a deposit of 200 yuan, finished to pay him 1000, 2000 pieces. You don't need the system, what you do with the system, 4 of people. He has to write the article every day, to write a thesis write it, after writing we help to change a release, in fact, quite simple. Make a report, The Advertiser a look very good, three days to finish. ”

Similar to the Feedsky, the Chinese web site, which mimicked the most cutting-edge models of American WEB2.0, had failed almost all of them, such as the Zhou Bo in the RSS field, the SNS field of Uume and other websites. Instead of directly copying the American WEB2.0 trend, entrepreneurs who are based on Chinese characteristics are now doing well, for example, some traditional community website watercress, as well as the Web site of Tudou, which is almost the same as YouTube, including some sort of "dirt" classified information site NET, To be the best surviving 2005-faction entrepreneur.

In the 2004, in the face of the endless dazzling WEB2.0 new model, Yang Hao-hu unexpectedly chose in the United States already appeared in the 1.0 model-classified information site. NET's business model is not new at all, it has been around for about 2000 years, but it is also attributed to WEB2.0 because it conforms to the concept of "user-created content". At first, Yang Hao-hu even "pretty repulsive" to being labeled 2.0. However, compared with other WEB2.0 complex models, net future business prospects are relatively clear, as early as 2005, Yang Hao-hu has clearly said to investors, classified information is not short-term profit, it must be to achieve a certain size after the income model will appear. 2009, the number of net users reached tens, net began to charge businesses, similar to the search engine bidding ranking model began to appear. In 2009, net income increased 10 times-fold from the previous year.

Some entrepreneurs did not find a business model until the end. Their entrepreneurial field in China is not a viable application, such as blogs and micro-blog, they eventually lost in Sina, Sohu and other traditional portal under. Other community entrepreneurs have failed to compete with Tencent. A relatively exaggerated claim is that half of China's 2005-year Internet entrepreneurs are in the hands of the most-done Tencent.

Be flush with capital?

Years later, Sambo's evaluation of Feedsky is: This failure in the product, the failure of operations, in the executive management is not a successful case, in financing is a success story, "In fact, we have been rich", 3 million of dollars invested by venture capitalists have been burned to Feedsky and eventually sold to an advertising agency.

"WEB2.0 Enterprise once have VC come in, will go up two directions, or VC will help you very badly, you will become very powerful, a lot of resources will give you." However, sometimes you will find that pandering to them will actually run in the opposite direction. "The Feedsky design so-called" platform "let venture capital Business purse big open, the company began to run away." In fact, the emergence of the platform, its root cause is capital induction, "You have to do a person can see through the things, you will not be able to melt the money." "Sambo said.

Xingdong has been a prominent figure since criticizing Microsoft in the 2005, but 2005 is Xingdong's real celebrity era, and this year is also known as the "blog year" for Xingdong's crazy story.

Xingdong Blog network failure, in addition to the competition of Sina, capital entry leads to entrepreneurial technology shape is more important reason. Blog Network was founded in 2002, after two or three years, has not carried out a commercial operation, 2005, the blog network has become the most popular venture capitalist projects, Xingdong recalls, "about more than 60 million dollars want to vote for us, competition between each other is very fierce." "Later, the party accepted the soft silver and other four companies of the 10 million dollar investment, those who did not invest in the blog network of venture capital to find the blog network competitors."

10 million the entry of venture capital completely disrupted the development rhythm of the blog network, the company quickly expanded from dozens of people to more than 300 people, do not understand the management of the Xingdong completely out of control, the site in the technical also encounter bottlenecks, its system architecture can not support tens of millions of traffic. By the end of the year, Xingdong was stripped of the CEO's power, and the blog network was quickly defeated in competition with Sina. Looking back now, xingdong that the original choice of venture capital, "should not just look at the reputation of venture capital, but to see their real help for entrepreneurs." ”

Cool News Network is another pour in the capital of the gentle township of entrepreneurial stars. At the end of 2005, Chen, Wu Shichung in Beijing to create cool news network, to provide users with life search services. At the beginning of 2006, Cool News net obtains 2 million dollar venture capital, only 10 months later, Cool News obtains the investor 10 million dollar investment, within one year two times financing, Chen 3 hours to fix the investment story oft. But too fast financing rhythm let cool news bear beyond the ability range of pressure, since then, Cool News network began to make a variety of early profit attempts, the introduction of real estate, work and other search services. By June 2008, Cool News Network and abandoned the past mode of strategic transformation, repositioning as "the world's largest Chinese tourism search", after a year, founder Wu Shichung, Chen successively left the company. The eventual expulsion of the founder of capital stems from the misunderstanding of the founders ' enthusiasm of financing and the short-term profit-driven nature of capital.

Of course, a large amount of money also helped other entrepreneurs, such as Wang's Tudou, tens of millions of of dollars of investment to establish a video site industry high threshold, it is such a threshold to curb Sina and other portals, when entering the field also have to carefully weigh the risks, So that the network, such as Tudou and other video sites to avoid the Web site as easily as the blog to pick the fate of the fruit of the portal.

In the 2005, a special entrepreneur-Kang Lu, founder of the K68 website-was seen in almost all WEB2.0 entrepreneurs ' gatherings. The man who always wears a wrinkled T-shirt in summer, and a careless entrepreneur with the other WEB2.0 company founder of the High-tech white-collar temperament is a big difference, it is natural that this seems to some of the scum of the entrepreneurs have not been able to win the favor of venture capital. Surprisingly, his seemingly dirt-cut web site remained stable 5 years later. Not long ago, Sambo to enjoy a service, after receiving a company's design task, he issued a task in k68, overnight, he got 50 programs, the next day he took the solution to the customer, the customer exclaimed, "Your art is too cow." "This makes Sambo very sigh," k68 very soil, has been very soil, insist very soil, always very soil, but very good. ”

Wei Guest website k68 seemingly WEB2.0 an alien, but perhaps, it shows the internet some kind of power of rebirth. Internet 2005 is departing, and the Internet 2011 is on the way.