Internet serial entrepreneur Yiu Jingbo

["Today's venture is expected to be 5 years, after 10 of success"] the second standing in the New York Yiu Jingbo, tired and calm, not the first time the excitement of ringing. "I want to sleep now." "Yiu Jingbo said. Yiu Jingbo is a domestic internet serial entrepreneur, he participated in the founding of the school education and 58 with the city, respectively, on November 3, 2010 and October 31, 2013 in the NYSE listing. Two "Children" were listed in succession, at intervals of 3 years. Serial entrepreneurship in the founding of the school and 58 in front of the city, Yiu Jingbo several times to start a business. Yiu Jingbo's University has spent four years at the Ocean (sea) in Qingdao. Yiu Jingbo said, after the college entrance exam is the first voluntary Shanghai Jiaotong University, but finally be adjusted to the sea, on the big moment, feel that they can go to a better school, want to drop out of the exam, but finally feel it, the main energy used in his second professional-computer. But 1999 Yiu Jingbo University graduation, Qingdao can not find his ideal job, many students have gone to the bank, the government, but he does not want to go, "want to break through." So he took the road to entrepreneurship. Yiu Jingbo's first entrepreneurial project is to do domain name trading site, called Easy domain network, this site is still alive. 2000, Yiu Jingbo to the easy domain network sold to million nets, in the million network to do the vice president. Now the million network has become a subsidiary of Alibaba [Weibo]. In the million net not to stay for how long, Yiu Jingbo chose to leave, participated in the establishment of a major education. Yiu Jingbo said that the first to do a major education is also the internet thinking. The predecessor of the education is the tutor net, do the matching platform of the tutor talent. Later derived more demand, such as looking for teachers, out of the venue, rent schools, so there is a big net. And 2000 to 2005, is also the domestic education industry the most prosperous 5 years, at that time, there is a noun, called "education industrialization." In the 2005, after learning the great education gradually on the right track, Yiu Jingbo put down the management position, founded 58 with the city. Founded 58 with the city is Yiu Jingbo heard at that time in the United States very prosperous website Craglist, Yiu Jingbo said, at that time a pile of small ads in the newspaper, and with more and more people on the Internet, these ads will certainly go online. Talking about the major education and 58 of the city's two-time entrepreneurship, Yiu Jingbo said: "I do anything before I see this thing is not the direction of the future, but even now start a business, and so this thing can really succeed, it is 5 years, after 10, the average time to go to the market is 7 years, 58 with the city is now 8 years. "Yiu Jingbo to express is that entrepreneurship is to see the future, entrepreneurs should not be anxious." "Today's business is expected to be 5 years, after 10 of success," and now entrepreneurs have to do is to look at the United States, Europe, the vision open, once the direction of determination, on the ground to carry out. In addition, Yiu Jingbo said, entrepreneurs do not complain about their own direction small, Yao Kee Poker (18.67, 0.07, 0.38%) are listed, a poker on 2 yuan, but multiplied by a 1.4 billion of the population, as long as the good, can be like blade. Serial entrepreneurial experience, but also let Yiu Jingbo and VC deal with a must. Yiu Jingbo said, entrepreneurs must and VC do a good relationship, do not and VC to do. How does that make a good relationship? Here are some tips, such as regularly active to report the progress of your site, do not wait for the VC to turn to ask, to take the initiative to send micro-letter, telephone, eat hotpot together. 58 the city before the listing preparation, there has been no fixed time of the board, are in the ordinary telephone, mail, micro-letter communication. It's best to be listed 58 before the same city road performance, Yiu Jingbo afraid to speak English, especially to find an English teacher. Yiu Jingbo also remember, during the national day, where they are wearing headphones listening to English, practiced for a long time. Road performance is the first stop in Hong Kong, that is a breakfast, I just finished speaking in English, the mind is very disturbed, worried that investors did not understand, finally from the feedback, it is not bad. Yiu Jingbo said that 58 shares in the same city had been subscribed 10 times times after the Hong Kong Roadshow. And to the United States Road Show, Yiu Jingbo and nervous, the CFO told Yiu Jingbo, a customer has a single 58 of the stock, Yiu Jingbo thought, if he did not speak well, after the end of the customer again withdraw a single how to do? Finally, he comforted himself, anyway, now has 10 times times the Super Raise, you (investors) do not buy my stock, You are stupid. 58 in the same city when the listing, also launched the "different rights" procedure, management is 10 times times the right to vote, and several major shareholder is a share of votes. The advantage, Yiu Jingbo says, is that in addition to controlling the management, other companies can be prevented from buying you maliciously. For example, the founder of a company is 80% of the shares, you use 3:1 with him after, there is a possibility that his shares than you, equal to your acquisition of his result is that he is a controlling shareholder. Because your side is only 20%, he has 80%, the merger of the equity relationship has changed. But 58 of the city to adopt the design is that I am always 10 times times more than each other, so that the other takeover I can not get control. When it comes to the pros and cons of listing, Yiu Jingbo said, the advantage is that a big cut in brand promotion, customers believe you, users know you. Before doing a classified information site, many customers think you will not be a liar, is a cheat? But a look at you is the United States listed companies, this distrust is reduced. There is the recruitment. Originally to dig people, the cost is very high, is a personal come up to you want shares, but for a promising company, money is not the most expensive, shares are the most expensive. Because, you can raise money round round, money will be more and more, but the pool of shares is so big. Is that an early listing or a good night? Yiu Jingbo's point is that it's best to go public early. In particular, to do business, and customers to deal with the company, if it is listed companies, that advantage is too big for customers, the money to the listed companies if the loss will not be his boss scold, this is the real benefits. Yiu Jingbo's investor, DCM partner Lin is also an "early public" advocate. Lin told the first financial daily that when he voted 58 in 2011,, the capital market door has been closed, but at that time to 58, they do not ask the product also do not ask the financial, asked when can be listed. In addition, Lin said the latest quarter is the best time to go public. If available, he advises domestic companies to go public in the next one or two quarters as soon as possible.