Handle NET founder Wu: in the Internet arena, everything must be fast

Handle Network CEO Wu, can be said to be China's internet "old man." For more than 15 years, Wu has been walking on the road of entrepreneurship, handle net is his founder of the fifth company. In the handle network case, replication to fast, financing faster, expanding faster. Because of the quick word, handle network since the construction of logistics has set a "12 minutes 08 seconds after delivery" the fastest speed record.　　

The company sold the top five.

Wu returned home from the United States in 1999, Sina, Sohu, NetEase has occupied most of the country on the internet in China, but, he founded the Focus network, but also want to create the focus network as the flow of the top three portal, but, when the flow difference 10 times times, he realized that he had no chance, and then quit, Sold to Zhang at a price of 16 million dollars, he and more than 20 people from the start-up team had their first bucket of gold.

This experience, but also formed his entrepreneurial guidelines, "not to the top five, it is necessary to consider transformation or sale." ”

2005, Wu with his core technology team to create China's first professional video sharing platform website. Wu was faced with the problem is that the investor for the financing scheme "is not signed," during which, Youku, six room filed, and other investors back to God, Wu but consider the video site is a burning Money project, has withdrawn.

After seeing the group buying pattern, Wu felt that he and his team could start again.

2010, the investment community known as "group purchase year."

Set up a group purchase website handle nets, Wu and the net CEO Wang more than half a month later, but he is the Chinese group buy the most the one in the site.

March 18, 2010, the handle network officially online. April 22, it announced the investment of Taishan Angel, became the first group to obtain investment in the home purchase site. Ask the reason, Wu answer simply, the first is the point of integrity, the second is more stupid, at the critical moment, step back, so the time to melt money is faster than others.

In the middle of this year, according to the Sound of the economic report, statistics show that Wu is the largest group of people in China to raise funds, the rounds of financing, got 160 million of dollars in venture capital.

In the Internet, everything must be fast

Wu has a concept: The Internet is a river, want to succeed need others support, want to do big Fast Company, cannot be preoccupied. It is this idea, so that the handle in the negotiations with investors, but also considered to be "cheap" investors, their funds are in place, and quickly expand to occupy the site.

Handle although not the first online group purchase site, but to do the fastest one. Wu has said that in the operation of the focus of the real estate network, "run too slow" missed a good time, so the handle on the line early began to expand at an alarming rate. At the beginning of June 2010, on line less than 3 months of the handle network is announced to acquire, open shop, agent and other methods in the domestic launch of 100 sites, the most open the site. At present, the handle has been stationed in more than 500 cities nationwide.

Wu said: "Vulgar point, we want to do group buying site in the seabed fishing, but we have not done." ”

Users can only remember 5 buy net

Previously, handle net CEO Wu said, users can remember up to 5 group buy NET, other should transform.

Wu that a lot of small web sites have been difficult to have the opportunity to do business in a timely manner or sell a good price, for their own first bucket of gold, so that the future of the entrepreneurial road more calmly.

But even the group buying giants such as handle nets still face a lot of problems. This March, the handle network by CCTV exposure exists suspected to deceive consumers, pull-pull network immediately statement, has carried out self-examination and punishment. and Wu accepted the board of directors cash 100,000 yuan punishment.

In the one months after the punishment, Wu said, "group buying is now the market situation, like the 1999-2000 when the portal competition." But with the end of the card war, growth rate will gradually increase. He said that in the past year, how to occupy the first three positions in the user's mind has been completed.

Although the handle on line online in less than two years time to carry out 3 rounds of financing. However, with the expansion of business scale, the company's loss amplitude doubled, in the second half of 2010, net loss of 49.129 million yuan in the handle net, the first half of 2011, net loss of 390 million yuan, close to the second half of last year 8 times times.

Although the pull net tries to follow Groupon's listing, its IPO is blocked and it is still unknown whether it will restart. It's a really tough time for Wu.

Previously, Wu on Weibo has said that in fact, China's Internet entrepreneurship, but also the need for such a realm: "Your heart simple, all simple."

But sometimes things are not as simple as they think.