Online education website Bubble noodle Business: From the valuation of nearly billion to one night separation

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[abstract] On the bubble surface it will get a round of financing, only to sign the final agreement, the 100 million-valued site is split overnight.

Tencent Science and Technology Lei Jianping July 7 Report

"Don't start a company with your best friend. "This is the lens of the once aggressively film" China partner, "Wang, one of the movie's Masters, who said the other two partners who had broken with their differences.

Online education website is also a vivid case of the recent occurrence. Bubble noodles, once as the real version of the "Chinese partner" case was written to the Chinese youth newspaper article, so far its official website still hangs the article of the media coverage.

Ironically, on the bubble surface it will get a round of financing, only to sign the final agreement, the 100 million-valued site is split overnight. 3 Core team members are now almost "enemies".

In the noodle bar. Official announcement, the official dismissal of co-founder Wang, Shing, the resumption of all types of administrative authority, and reserve the right to pursue the relevant responsibility, and accused Wang, Shing to stop the direct or indirect use of illegal steal access to the bubble Surface Bar project code.

Bubble noodles. Founder 俞昊ran In the statement ordered the public to learn to a network technology (Beijing) Limited liability company and its related personnel, Wang, Shing stop using the bubble surface trademark, and said that the 俞昊ran reserve the right to pursue the relevant legal liability.

Wang, Shing also "tooth for tat." Shing on July 1, 2014, will bubble noodle bar project team and the original user management staff from the user QQ group kicked out, seriously affect the bubble face bar product market operations.

As a promising online education enterprise, the situation of bubble noodles is very impressive. Bubble noodles. The biggest problem is three young people 俞昊ran, Wang, Shing are too young to deal with the problem of corporate control serious misconduct.

Bubble Noodle Bar Origin: Born from American University campus

January 2012, the founder of the bubble 俞昊ran ran to register the "paomianba.com" domain name, the same year in April to complete the concept of Bubble noodle project creative. In December of that year, 俞昊ran designed a bubble-face bar and invited his younger brother at the University of Illinois at Urbana-Champaign to participate in the development of a "bubble Noodle Bar" earlier version. This is the first precursor of the Bubble noodle bar.

Subsequently, 俞昊ran in accordance with the needs of the project development, has invited a number of members to join, as of January 2013, the product basic molding, into the closed test. February 2013, due to the lack of integrated logistics staff, 俞昊ran Recruitment co-founder Shing joined (become a Bubble Noodle Bar Project Team 8th member). Shing is responsible for human resources, finance, Legal affairs and administrative work.

April 2013, Bubble noodles because the project needs to strengthen the content development operation strength, 俞昊ran recruit Wang join (become the Bubble Noodles Bar Project team 10th member). Wang is responsible for the maintenance of the content developer relationship in the early stage, and is responsible for the investor relationship maintenance in the project financing work. Wang joined the following day (April 21, 2013) and the project entered the internal testing phase.

June 7, 2013, founder 俞昊ran The project in Tianjin Road Show, launched the search for Angel investment process, and with an angel fund for the first contact. In October of the same year, in the Angel Fund said that the bubble Noodle Bar project has a further understanding of interest, then 俞昊ran in the United States to assign Wang and related funds for further communication and exchange.

俞昊ran ran, Wang, Shing three people because of Baidu summer vacation summer Camp project, the bond between three people is once in Baidu work Yang, Yang once in Youku potato as human resources Director Post, also joined Bubble noodles bar. These people, 俞昊ran 92, Wang, Shing respectively, 88, Yang 70, to Yang the oldest, in which the most stable.

If, as three small partners recognized Bole's Yang early to join the team, the three "partners" may not be a night to the point of separation. But the fact is not so ideal, in the later 俞昊ran is not in the domestic time, Wang, Yan ji set up and actually grasp the company, which also for the subsequent development of hidden dangers.

The project has been seriously missed by the outside world.

Bubble noodles. At the end of 2013 set up a public learning to a network technology (Beijing) Limited liability company, but founder 俞昊ran for a long time has been studying in the United States, has not been informed of the company's ownership structure, registered capital, and was falsely signed.

June 19, 2014, 俞昊ran commissioned a lawyer to the industry and commerce registration authorities to inquire only learned that the company registration, Wang hold the company 65% shares, Yan Ji holds the company 10% shares, as the company's executive director.

俞昊ran pointed out that the Bubble noodle bar set up the company during this period, in its not yet agreed to the main provisions, was counterfeit signatures, Wang, Shing, "俞昊ran", angel Funds and the public learning to a network of science and Technology signed the so-called "investment agreement."

In May 2014, 俞昊ran was first informed of the contents of the agreed version of the agreement, which was inconsistent with the previous 俞昊ran's disclosure of the final version of the investment agreement, in this agreement, to ensure that the investor and the Executive Director have the right to legally deprive 俞昊ran of all shares), the agreement does not require 俞昊ran as a party to endorse the signature, LED 俞昊ran to express strong protest on the spot.

In the process of meeting with investors later, 俞昊ran said that he was strongly excluded, even if attending the meeting can only describe personal experience, can not correct Wang, Shing exaggerated and deviate from the facts of the description.

June 20, 2014, the Bubble noodle team burst into serious error. People familiar with the technology of Tencent pointed out that the trademark inquiries found that due to Shing major dereliction of duty, "bubble Noodle Bar" trademark in the key categories of application by a Henan company April 3 registered.

The above-mentioned personage said, as early as October 2013, the bubble noodles bar Several members had asked strict Ji to apply for the trademark, but has been to June 2014 the company internal contradictions to carry on the data reorganization only then discovered, this trademark has been maliciously registered.

This means that if the team expands the use of the bubble-face bar under the applicable category, it may face prosecution, a very big mistake for this young team. Shing also faces huge accusations within the team.

The story ends with Wang and Shing being expelled from the team. An early-stage noodle bar employees said that in the face of the situation today, Wang, Shing in front of her also do not want to say anything, they just keep saying "they are sad."

俞昊ran said, the team in addition to Wang, Shing left, still in normal operation, the current Bubble noodle bar has set up a new company, and is brewing gradually to enable the new trademark.

Are frustrated people yang: look at all heartache

In the Bubble noodle bar on the eve of the conflict, bubble face bar looks also thriving, a few more than 20 years old after years of hard work, a round of financing will soon come to account. According to a person familiar with the story, 3 VC to share 15% investment 2 million U.S. dollars, an investor willing to share a share of 20% to 3 million U.S. dollars, to calculate, bubble noodles to the valuation of nearly 100 million yuan.

But on the eve of a round of financing, 俞昊ran ran, Wang, Shing, Yang Four people together, the issue of equity, the story is intense, 俞昊ran ran out of the field 15 minutes to return to the scene, on the spot threatened not to understand the technology Wang.

俞昊ran said, "I've deleted all the code on GitHub (Editor's note: It is understood that the technical staff has been in the 俞昊ran before the arrangement of good code); The team collaboration platform, I also first turn off your authority; I set up an email to the angel, sent it in an hour, and sent us an email of the A-round investor we talked about. will be sent in 1.5 hours, in the mail. I have explained all the previous exaggerated figures, explaining the lies that you didn't want to explain, and making the real product development plan clear and ensuring that investors are responsible. Let's talk about it and see if we can get the mail out, or let's talk about it with the investors.

For this scene, Wang that at that time 俞昊ran is "code only I have a copy", "Inside the Wang, as this in the beginning of the company, how with our company angel investors together to me framed, want to kick me out such a thing" and so on. Whatever the two parties described in this paragraph as true, 俞昊ran's "threat" seems to have played a role in the ensuing hours, Wang offered four people to accept and reach a "reconciliation" programme.

Four people together in the outbreak of the next day, Wang said he suddenly reacted, not in accordance with the "reconciliation" plan to do so. Because "Hao is not 15 minutes under the impulse to do such a thing, but a carefully set up the bureau."

Wang also believes that 俞昊ran has 3 requirements: 1, to return to school in the second half of the year, 2, to be a holding ceo;3. These three goals cannot be achieved at the same time. As Wang said, "In fact, I said the words, investors who vote for you a part-time person?" On the sidelines, Wang and Shing have ample reason to express dissatisfaction with 俞昊ran.

Although the Bubble noodle bar is 俞昊ran is created in the United States, team members also generally recognized his remote control and promotion of the technology, products and markets most of the work, but after all, 俞昊ran has long been studying in the United States. In contrast, because once recognized 俞昊ran ability and judgment, Wang in only need to complete the thesis can choose the case of graduation, Shing in the United States to take the position of middle school, resolutely resigned to return, in the country will not have a legal status of the project team into a company to operate, Why shouldn't they be more right than a part-time founder? After all, they have paid more for it.

Bubble Noodles Bar The development of things, so as a middleman yang is also very embarrassed, Yang to the media, who accounted for large shares of things, can see Wang and Hao ran the same thing description diametrically opposite, two one person lied.

So far, Yang said, there is no evidence that either of them has lied. See 俞昊ran to pack his computer and keyboard, already is whimpered. "It's a bit of a pain to see someone who's been 92 years and 1.9-meter so tall," he said. ”

For the final cooperation rupture this matter, Wang think, 俞昊ran back from the United States, see the company's situation has psychological drop, and others in the back to encourage, finally have a state of obsession. "Frankly, know Hao ran five years ago, he was not such a person, I have many aspects of his recognition, in fact, the real culprit is the person behind him." ”

"It is a pity that rumors have floated, for every person who makes a mistake, we should have given more opportunities, but not a classmate completely lost." "俞昊ran said, to use a lie heap 100 million valuation oneself cannot agree, educate the person is to be upright, habitual lie is not acceptable." "Think about it, this is my lead the 4th project, sinking heart to do things, everything is not difficult." ”

Asked about the "greatest feeling after this thing", 俞昊ran said, this venture to their own very big lesson: "I have no direct interest in project management disputes, this is a lack of business experience, in the trust of a person without a rigorous investigation, the next time I must learn from experience and lessons, you can not doubt, But before employing a careful investigation. ”

Things have now been lost. People familiar with the situation said that 俞昊ran, Wang, Shing 3 contradictions in the public, so that investors dissatisfied, investors have even threatened to say, if the entrepreneurial team a few people really want to make a separate, then let everyone do.