Lee Colling do client yy is absolutely accidental

Abstract: Lee Colling lead: Lee Colling to do client yy is absolutely accidental. Economic Observer Yang/wen if you want to ask Lee Colling about the key events or experiences that make him the most memorable in his management career, the President of the gaming network will tell you that his insights come from

Lee Colling

Lead: Lee Colling do client yy is absolutely accidental.

Economic Observer Yang/wen if you want to ask Lee Colling management career in the most difficult to forget the key events or experience, the more game network president will tell you, his insights from YY (gathering time, NASDAQ:YY) investors-morning Hing venture partner Liu. Liu once said to Lee Colling, life is made up of a series of choice questions, everyone's most important decision, in fact, do not need special trouble, as long as the choice of a good question on the line.

This sentence is reflected in YY's corporate strategy, the first impact on its eventual success, that is, from content-oriented to product-oriented change.

"Pick Up" yy

That was in 2005, when Lee Colling decided to shift the company from doing content to making products. "This is a relatively big shift. Just started to play more time, we were first to do Warcraft and special station, and then we began to do Warcraft database. We find that the flow of product data is far more than we do news traffic. "Lee Colling recalls," Slowly we have some changes, from a news, do content of the company, turn to a product company. Then the whole team more down-to-earth calm down to take seriously really do a lot of years of products, I think this is a change. ”

And yy originally is Lee Colling from NetEase "Pick up" to the bubble team accidentally made client.

Lee Colling do client yy is absolutely accidental.

2008, YY has never thought to do the client, finally forced to that part, is YY met all the technology has not solved the problem. Then decided to do the client.

Fortunately, Lee Colling first selected a more professional client team, the team of YY research and development of the culture change over.

"Do the Web site research and development culture and do the client company's research and development culture is not the same." We do have more luck, when we began to decide to do this client research and development, NetEase just decided not to do bubble, the whole team of the general office. The general office means not willing to ' kill ' you, but also do not know what you should do. This gives us a chance. We have been looking for a few people, are previously in netease nothing dry people, together to do this new client. They have been working together for five years as a team with a rich culture and experience. In addition, our CTO Zhaobin, after graduating from Peking University in the United States for more than seven years of research and development. This has brought us great changes. Lee Colling says, these all let yy have the transformation from inside to outside.

Signature of Tiger Fund

In the YY listing process, the most thrilling scene is to persuade shareholders to agree to a low price listing. This was described by Lee Colling as "the probability of being struck by lightning", and he thought he had met investors looking for the long haul.

That was in 2012, yy ready to go public early, Lee Colling already know the whole capital market condition is very bad, also feel the price pressure, the issue value may be less than 11 dollars. But before YY last round of financing, Tiger Fund is at 11 dollar price into the capital. At that time Lee Colling more worried, Tiger fund has a power, is the terms of the IPO-that is, "only the Tiger fund signed, YY eligible for IPO" clause.

YY inside think a lot of possible circumstances, such as request YY redemption or demand compensation, because Tiger fund can not sign.

The company CFO found Lee Colling and asked him what to do. Lee Colling issued a e-mail―― on the same day. "We are preparing for an IPO and may have a lower price," he said. In this case each director wants to sign an agreement that allows us to go to the IPO, we attach the agreement to the back, if you have any comments, you can write to us directly. ”

Two hours later, the company's CFO told him that an investor had signed the deal after the mail was sent. To his surprise, the signatory was the Tiger Fund.

Tiger Fund in YY listing only two hours before the first signature.

Tiger Fund in the Mail said: "You have done a good job, I have signed, signed the scanning piece in the mail, the official piece we have mailed back." ”

This makes Lee Colling very moved: A good investor is a very important guarantee of a business. He felt that the investors of his choice were first-rate-the first class was not the mouth, but the long-term interests of the company, not the individual. "The package of huaxing Capital [Micro Bo] said that in so many years of investment and financing process, the Tiger Fund performance is absolutely the probability of the thunder, we are too lucky." "Lee Colling said.

Economic Observer: What do you think is your biggest motivation as a manager?　　　　What is the biggest challenge? Lee Colling: Over the past year, the company's share price has risen from 10.5 yuan to a maximum of 55.28, more than 5 times times the rise. A lot of people think that listing is the end of a company's business, and even if a company goes public, the return on the stock will be limited-which is also my pressure. I believe that we have a large number of employees who themselves do not believe that a listed company's share price can be doubled within a year 5 times times. The value of the company is not based on gambling, but by common use of both hands. A 10 million dollar company can rise 10 times times, a 1 billion dollar company can also rise 10 times times, the key is the team has what kind of stick.

My pressure also comes from, if we want to make a 10 billion dollar company, we must first stand the team, to ensure that their field, is the future long-term development is bound to grow areas. On this basis, we should return to the core values of customer service. We need to understand two issues: first, the internet real-time audio and video, is the next era of essential basic services? Second, yy in the continuous improvement of our products on the value of users?

Interview

Economic Observer: from your personal experience, how do you feel about the different differences and challenges that business leaders have in China over the past 10 years and over the next 10 years?

Lee Colling: Facing new things is a challenge. For example, YY entertainment and fast men are the most challenging battles we have experienced in three quarters this year. I have contacted a lot of TV people, and also contacted many of our colleagues who went to Changsha frontline. I feel the company and Hunan Satellite TV [micro-blog] The biggest difference is that we are a special love learning team, willing to spend a lot of time to understand the TV every detail. We are full of curiosity. The same is the collision of two industries, is also the integration of two times, if an Internet industry, particularly active, particularly active, particularly love to learn, particularly curious, we believe that in a few years this change will be particularly obvious.

Economic Observer: What do you think is the relationship between entrepreneurship and social responsibility? What do you think the social responsibilities of entrepreneurs include?

Lee Colling: I think I still do my own company, I have not changed the education of China. Why do we want to do this? A colleague said that after retiring to the village to teach, I said that it might as well now on YY to teach it. We have drastically reduced the cost of education, and everyone has a great opportunity to choose their education, which is quite different than going to a rural country where there is no electricity to teach 30 children. I do not want to do education to the question of income, or in that sentence, education itself is a commercial interest, but I think it is a social value. Education this thing, do a good job must have social value.

Economic Observer: If you write a memoir, What do You think is the greatest sense of accomplishment in your life?

Lee Colling: I thank this era, let us have the opportunity in food and clothing, have the opportunity to create other people dare not think of things, to pull the progress of the Times. In this era, each of us is equivalent to 1000 years of living, from the birth of a pager, to everyone's butt hanging a pager, to the final extinction, this should be a 200 years to complete the evolution, we spent 5 years to complete. We have seen more than 10,000 years of people living in the past, which is our lucky.

Before seeing the famous American Iron Man Elon Musk in the Xspace rocket into space, creating Tesla electric car miracle, announced Alpha test a human transmission capsule. The capsule ejected people from a vacuum tube at a speed of several times (6500 km/h), and the acceleration was only 1g, the equivalent of an ordinary sedan called Hyperloop. So if our real-time voice and video applications can stop humans from riding this monster called Hyperloop for meetings, learning, and daily communication, we will succeed, and I'll have a high sense of accomplishment.