Copperman: Focus on seed investment and start a team

He believes that the first of a series of products that an entrepreneur wants to sell is himself, successful entrepreneurs must be selective adventurers, not impetuous gunmen Liu Tian [Copperman points out that when a company's business philosophy is still in its infancy, it is estimated that a "time saving" product is worth more than an estimate of "　　It's much easier to kill time, because the latter is hard to predict whether it will eventually be profitable before its business model matures. Josh Coppermann (Josh Kopelman) is one of many well-known VCs who have had a successful entrepreneurial experience in their early years. Copperman's first bucket of gold came from the half.com, a 350 million-dollar purchase of a second-hand book-and-video online trading site, Copperman founded the first-round capital company in 2004.　　Like the name of the company, it focuses on providing small up-front seed investment to companies that have not yet won VC's first round of VCs.　　In 2012, Copperman ranked sixth in Forbes ' best Hit list. Half-price net success as early as 1992, when Copperman was still studying in college, he co-founded Internet information company Infonautics with others. Infonautics was listed on Nasdaq (Weibo) in 1996.　　In 1999, Copperman left Infonautics to create a second-hand online trading site with Half-price net. Copperman created a half price net from his sudden inspiration. At the time he had a novel on the Amazon (Weibo) website, ready to spend 28 of dollars to buy it, but temporarily decided to go to the ebay site to see what prices there. He found two of the same books on ebay, second-hand, with a low price, only about 1 dollars, but it has been neglected.　　Copperman realised that ebay's auction model was the most effective for price-unsure items, but it was unattractive for a price that was clear and high-volume, such as books. Copperman also found that many of his friends and family had lots of old books and CDs to deal with, so he created half-price nets. Half-Price net combines the features of Amazon and ebay: Customers can buy and sell new products and second-hand at fixed prices, which are more familiar to customers who purchase books, CDs, VCD and DVDs, which are also the main business areas for Half-price networks.　　In addition, Half-price network transactions are buyers directly to Half-price network payment, and then Half-price net to the seller to pay, so the seller does not need to worry about the cheque or the bill was refused to suffer losses. The goal of half-price net is to make it easier to sell an item than to throw it away. Copperman said he had done a simple survey and asked a group of investigators, "How many of you have read Stephen, Grisham or Daniel Still books", most of whomAnd he asked, "How many of you have read these books two times" and the number of people raising their hands is rapidly decreasing, which is the main reason why he started the Half-price network. He even claimed that the creation of Half-price net was due to the discovery of ebay's weaknesses. Soon Half-price NET has 250,000 registered customers, become the fastest development of a commercial website from February 2000 to April. The rapid development of Half-price network quickly attracted the attention of ebay, in order to avoid the Half-price network by other companies to buy, ebay first to do a strong, at the fastest pace, in July 2000, the network of the end of the winter, the price of 350 million U.S. dollars to buy a half-price network. Copperman still worked on ebay for three years after half-price net was bought by ebay.　　Over the past three years, he has blended the Half-price model into a separate business for ebay and has sold its full-year sales to $500 million trillion. After leaving ebay at the end of 2003, Copperman, the transformational VCs, created an anti-spam company, TurnTide, and developed the world's first anti-spam router.　　Soon security software company Symantec bought the TurnTide at a price of 28 million dollars.　　After that, Copperman began to transform from an entrepreneur to a venture capitalist, and in 2004 he founded the first round of capital company. Copperman often travels through the American coast, looking for the next generation of network start-ups in Philadelphia, New York and Silicon Valley, and is known as the "Red-eye Venture man." As the most famous seed investor and "miniature" VCs, Copperman is the object that many people follow.　　He prefers High-tech electronic consumer products, software companies, fashion and finance, and dislikes biotechnology, life sciences, clean technology, real estate, automobiles, and ironically, he doesn't like the travel industry, and probably has too many planes in peacetime. Over the past few years, Copperman has had many very successful investments. For example, his investment in IronPort Systems Co., Ltd. is the industry's leading Internet Information security products provider, 2007 IronPort by Cisco 830 million dollar acquisition made him a big profit.　　His investments also include LinkedIn (2011 IPO), Bazaarvoice (2012 IPO) and Asterdata, a global enterprise Data Warehouse solution leader, which was later Teradata to buy 263 million of dollars. Copperman is focused on seed investment.　　The proportion of venture capitalists ' investment in the seed period is very small, usually no more than 10%, but it takes a great risk. After all, there are many potential risks involved in translating a concept into an industry. such as market size, financing capacity, adequate technical support and so on. "Every risk is not equal. Copperman points out that the main bet is on the entrepreneurial team. "The first of a series of products that an entrepreneur wants to sell is himself. Investors need toEntrepreneurs and his ideas are confident. Copperman points out that many aspiring entrepreneurs have a certain misconception about the role of early-stage risk assessment. Successful entrepreneurs must be selective adventurers, not impetuous gunmen. "They are constantly looking for opportunities and minimizing risk as much as possible." But when opportunities are big enough, they should not be afraid to take risks.　　So in deciding whether or not to invest, he first examines the entrepreneur before starting to focus on its products and markets. However, Copperman also points out that when a company's business philosophy is still in its infancy, it is much easier to estimate the value of a "time saving" product than to estimate a "kill time" product. For example, he says, Uber is a "time-saving" product, and YouTube is a "time consuming" product. Uber is an on-demand O2O (online to Offline) Web site where every user needs a taxi request from the iphone, SMS, Android to Uber, and a private car in a few minutes will open up to you, paying and tipping through a credit card transaction. The service is now well promoted in San Francisco and is expected to be launched in many other cities.　　Although the cost is half higher than the taxi, but its comfort and speed is not comparable to taxis. "For example, when we saw the AOL billing website Mint.com founder Aaron Patzer took out his notebook, we know that maybe he was saving money again." This is the same as the Uber, is a product of saving type.　　Copperman points out that a "kill time" product can also make money, but it's hard to predict whether it will eventually be profitable before its business model matures. "My favorite business model is not to address the new needs of the market, but to address the most pressing and pervasive needs of the market, but to solve them in different new ways."　　"Copperman said.　　Related Copperman, a small archive of Copperman, was born in New York, where he obtained a Bachelor of Science degree from the University of Pennsylvania and an MBA at the Wharton School. In addition to being a successful venture capitalist, Copperman has multiple identities. In 2001, he and his wife set up a non-profit charitable foundation, the Copperman Foundation, to raise social donations for the angel of charity investment.　　One of the projects funded by the Copperman Foundation in 2002 was the refinement and computerization of the Encyclopedia of the Jews. In addition, Copperman is also a venture capital company in entrepreneur, a VC company owned by Kang Custer Telecom Group, as a "settled entrepreneur" (thrive), an entrepreneur who has had successful entrepreneurial and operational experience, and has been recruited into venture capital firms,　　Become a full-time staff member who receives salary and other working conditions and necessary resource support from venture capital companies. (Liu Tian)