Guoguang: VC Most important is the enthusiasm of the entrepreneur

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1993 graduate from the University of Arizona, USA, Master of Industrial management. American Chartered financial analyst.

July 1999, investment and participation in the formation of NetEase Caimas, Is. Holdings, as a senior vice president of NetEase, in charge of enterprise development and strategic cooperation.

April 2004 created the Fast Money company, the incumbent CEO of the fast Money company.

He studied the shipbuilding industry, but went out of the school after the beginning of the 90 's began to flourish in the emerging industries-------the Internet, to help netease from more than 30 to grow to more than 300 people, and a year to help NetEase completed several financing and successful listing. He is the senior vice president of NetEase, now the CEO of the Guoguang network. Talking about his entrepreneurial experience, he believes that "absolute optimism for life" is an essential quality of entrepreneurs, VC most valued not the entrepreneurial project but entrepreneurial team.

Entrepreneurs should be absolutely optimistic about life

Reporter (hereinafter referred to as "note"): you choose to make quick money in the original intention?

Guoguang (hereinafter referred to as "off"): Do fast money with the original experience in NetEase. NetEase is a community-class enterprise, now has hundreds of millions of users, but the challenge is how to receive money from each user? We tried a lot of methods at that time. In the entire Internet industry, who can provide payment tools to enable enterprises to receive money from consumers? NetEase 1999 encountered this problem, made a gold card project, but still can not solve the problem.

Until the 2004, the country's great environment and infrastructure gradually improved, I think the time to do this began to mature. This market demand is very big, so I decided to do this thing, so I created the "quick money."

Note: Can you tell us your share of the third party payment market in China?

OFF: There are no very accurate figures now. But as can be seen from industry reports, we are now ranked first in the independent third party payment market. At present, our total number of users is about 20 million. But it's not much in China, and only one-tenth of the 1.3 billion people are online, and nearly 14% of them are on our platform. The absolute numbers look big, but they're not big in proportion.

Remember: What do you think are your strengths compared to other opponents?

Guoguang: I think payment must eventually be professional. You have to be a professional, the industry chain will be formed, will be successful. You must keep the city in order to attack the lower. We have studied it carefully. The U.S. market from the 60 's to the middle of 90, nearly 30 years, the built-in payment enterprises are mostly dead. Now Taobao, ebay and other cash trading platform, you can see that their trading volume is very large, but two years three years later, they accounted for the total amount of the proportion is likely to be less than 10%, because the new amount is much larger than the current amount, this is the economic growth of the economy. We are now in the when, Baidu payment accounted for a certain proportion, but in two or three years, that volume will become very very small. I think that payment in the traditional industry will eventually occupy the absolute advantage, now see who can get the largest proportion of the increase.

Remember: What are your goals for fast money?

Guoguang: I want fast money to be a tool that most of our consumers must rely on every day, whether you use a mobile phone, a phone, or a computer, which can be extremely easy to pay; The immediate goal is to occupy more market share.

vc70% See the team, 30% see the project

Remember: What qualities do you think entrepreneurs need? VC more value Entrepreneurial people what quality?

OFF: I think it takes two basic qualities to start a business: To be absolutely optimistic about life and second to be very persistent.

VC may look at a few points, the first is the entrepreneurial team itself to do this thing's belief how strong. Only with a firm belief can we rationally judge the chances of success of this thing, how to do it more effectively, and find ways to make things happen. Our jargon is, 70% to see the team, 30% to see how quickly the team is doing what it is growing. With these two points, the entrepreneurial team will solve their own problems, others are not important. In these two points, the most important thing is people.

Remember: VC care about the age of entrepreneurs?

Off: VC does not care about the age of entrepreneurs, many children, doing things very serious, the possibility of success is great. I think VC first need to see is the enthusiasm of the entrepreneurial team, this is the most fundamental.

Note: The U.S. and China's VC in the operating style is different?

Off: Very different, the U.S. VC more value results, in the process it will not send people to participate. They think they believe that the team will invest money, so they have to trust the entrepreneurial team to play their own creative power, not too much intervention. In fact, China's capital liquidity is quite high, Chinese VC added more than the United States, but Chinese VC rarely invest in new enterprises, this is mainly a different mechanism.