My first angel investment

Recently, La Suntaujan often criticized me, "You are always hanging on the tip of the tongue, not VANCL is UCWeb, do we do well?" "In fact, pull card is my first personal investment, I have been very optimistic about Suntaujan and La card!" Because Suntaujan students have been relatively low-key, so I also mention relatively few.

The day before the Olympic Games, I received a message from Suntaujan, "C-round financing complete", only a few words, which filled with his endless joy. From mid-June he and I discussed the preparation of financing, by the middle of July received four term, and then formally signed in early August, just one months, pull card completed the third round of more than 20 million U.S. dollars of financing! Investors are Lenovo Holdings, Morningside and other four institutions, it is this round of financing, so that LA Card can not be affected by the "winter", full speed expansion of the full throttle.

After the completion of the financing of the new card board, Suntaujan very happy, "now I wear three pieces of cotton-padded jacket for the winter."

Suntaujan is a celebrity in the industry, and has been successful for several more than 10 years. He is a joint founder of "Business Communication" and has served as executive vice president. Ten years ago, "pagers, mobile phones, business Qualcomm, one can not be less" the slogan, everyone knows. He also participated in the creation of the blue cursor (domestic well-known public relations consultant company), Life Express (the largest direct-cast free magazine) and so on. He retired in 2002 and enjoyed his life on the golf course every day. After resting for more than two years and feeling rested, he was determined to start a new round of entrepreneurship. He came to me and told me what he was going to do, but I did not understand it at the time, but I did not hesitate to promise to invest, because I have always wanted to have such a close distance to Suntaujan learning opportunities.

At the end of 2004, Suntaujan started a new venture, and I invested more than 16 million yuan with him and Lenovo. He wants to be a convenient payment network, in each convenience store to put a payment machine, so that people can handle a variety of public utilities within hundred meters, network purchase bills payments and other business. Groping two years later, July 2007 began to pave the payment network, to the end of the year has begun to take shape. This convenience service is very popular, so far, has opened more than 10,000 convenience stores in 16 cities to provide a variety of payment services, such as coal and electricity, traffic fines, transfer, credit card repayment, online shopping billing and other services, more than 1.5 million monthly trading pen. In the year of 2008, the volume of business grew 12 times times.

I believe in the future of financial services in China, I am optimistic about the Suntaujan and La card "convenient payment" dream!

Angel Investment Series:

Angel investment is just my hobby

Ten criteria for evaluating entrepreneurial projects

Two key words entrepreneurs must keep in mind

Such programmers have a career

Full analysis of UCWeb financing process

Super Outrageous VANCL Financing process

On the ten standards of the evaluation of entrepreneurial projects

My first angel investment

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"Reprint" Suntaujan: Innovative "chess player" (Fortune times text/Korean side)

A fanatical idea of innovation may not determine the winning or losing of a chess game, but it never repeats to get him in the marketplace.

"Fu Pan", also known as "re-bureau", go term. Chess players often after the game, the record of the chess, to check the merits and demerits of the games in the key. Regardless of chess or work, Suntaujan has always insisted on "recovery". He believes that the strongest people are good at learning, and "Fu Pan" is one of the most effective means of learning. Suntaujan is a go enthusiasts, he summed up the characteristics of his chess is: Love from the layout point of view drop, like to use the "discard child" tactics. Has the layout view is the importance strategy, is good at "abandons the son" is dares to give up, this actually with Suntaujan's management style also very similar.

Each start-up, Suntaujan is the choice of "ahead" of the market, to complete innovative model into the market, each time to do the first crab eating, including the current Beijing La card electronic payment company. And the chess game often go to the key, there are always some people doubt whether the pieces of Suntaujan is too early, but he has the confidence, fanatical innovative ideas may not determine the win or lose, but never repeats but let him in the market often get the opportunity.

When the computer goes down the altar

Talking about entrepreneurship, Sun ran has its own definition. As a migrant workers devote themselves to innovative projects, but also entrepreneurial, the company is also a worker's sense of honor and entrepreneur's hundredfold responsibility.

After graduating from Peking University in 1991, Suntaujan entered the four group of the Ministry of Civil Affairs, from an ordinary employee to the group vice president, from the workers to do shareholders, directors. In the meantime, the four-up advertising company was established in late 1992, Suntaujan 1994 as general Manager.

1995, "Beijing Youth Daily" to create a special edition on computers and cars, 4 editions per week. Suntaujan's first reaction to the news was to take it down, "at that time, many friends said I was crazy, when the computer is a rare object, computer companies are in the professional media advertising, you want them to advertise in the mass media, and buyout prices so high, how do you earn money? ”

Indeed, the computer was still a new word, not to mention "personal computer", "The people do not dare to think, not even this concept."

But Suntaujan that, soon after, the computer will become the necessary home appliances and into ordinary people's home. Although the computer manufacturers do not recognize the mass media, only in the computer professional media advertising, but with the popularity of computers, manufacturers in the mass media advertising will become inevitable. February 28, 1995, "Beijing Youth Daily Computer era", Suntaujan personally wrote the Shizhing: "The computer will go down the altar into ordinary people's home, we must like to see the media, the common people read the language and way to tell them about the computer." ”

The beginning of everything is difficult, especially a completely innovative thing, February began to July, Sun ran them all over the nearly all IT companies, but the newspaper advertising volume is almost zero. "At that time, and" computer times "together with the publication of" Beijing Youth newspaper Car Times ", because the ads too little capital pressure to apply to the newspaper from the original version 4 to 2, I am more pressure than they, but I bite the decision not to shrink version. Suntaujan in mind: the first half is according to 4 version of the buyout price loss of money, if shrink to 2 version how to earn? Moreover, if the market is up, 4 editions may not be enough. It is this vision and confidence, Suntaujan not only did not shrink version, but took out the company's last a hundred thousand of funds, carefully planned to convene a at that time the largest, the highest specifications of the "Customer media meeting", hoping to promote it vendors to the mass media recognition.

1.5 months later, a large number of well-known companies began in the "Computer Age" ads, Suntaujan not without a proud to say: "In the later with the" Beijing Youth Daily Cooperation for more than two years, each year is the beginning of the basic booking of a space. ”

1995, the company's advertising profits 1 million yuan, 1996 reached more than 8 million yuan, 1997 breakthrough 10 million Yuan. Its profits were third in the group's 56 companies.

Creating Business Myths

"Pagers, mobile phones, business access, one can not be less!" "Technology makes you more relaxed!" "These two well-known advertising language from Rage Albert Business PDA (Personal digital assistant, PDA)," the first year of revenue to reach 700 million ", at that time it was the largest handheld PC, the market share of more than 70%, Created the myth of the Chinese market, and Sun ran it.

In the 1998, the group developed a PDA product, want to set up a separate company to operate, the company is a permanent base Albert. At that time Zhang Zhengyu (the president of the group) in four of the 56 companies in the election of the boss, the results selected Suntaujan. In more than half a year, Suntaujan led the team from the product naming to determine the marketing plan, to channel planning, market policy, etc., formulated a full set of programs.

Suntaujan and his companions devoted all their feelings and passions to the cause of Henderson. At that time, they all have a kind of disease called "Business pass syndrome". "I and my team, sleep when the dream is this product, chatting is this product, drink when talking about this product." "Suntaujan Frankly," I think I grow so big, do business Pass is a special input. ”

From the end of 1998 products listed, to May 1999, a short period of six months, the famous business, the company won more than 60% of the market share, creating a small marketing miracle.

After many years, brought up the brilliant, Suntaujan's expression and his name "ran" as very release.

Even asked about the commercial advertising language, he is also lightly said: "The slogan is not I want to come out, the earliest time is a small agent of our own design an advertisement, called ' Men piece, watches, mobile phones, Business Tong '." Because we monitor the national market situation every day, feedback to Beijing, I feel the meaning of this advertising is right, but a bit of soil, let the brand promotion department to discuss changes, is the brand director came up with a ' pager, mobile phone, business through a not less ' advertising language. ”

For the success of business, Suntaujan said: "To paraphrase the old saying, we are at the right time, by a group of suitable people to do a suitable thing." ”

Create a Pull Card

At the end of 2004, Suntaujan, Lei (President of Jinshan Company) and Lenovo Investment 2 million U.S. dollars, founded the LA Card, 2006 development completed the first electronic billing service platform in China.

Pull card is to facilitate payment, relying on the streets of the city's tens of thousands of convenience stores made up of the pull card to facilitate payment outlets, for the people to provide the convenience of the door to pay, whether it is repayment or payment, or pay, recharge, can be at home in the convenience store card to complete.

March 2007, pull card to complete the second round of financing, financing amount of 8 million dollars. August 2008, the day before the opening of the Olympic Games, pull card to complete the third round of financing, Lenovo holding joint strategic partners to the pull card to inject 25 million dollars. At present, La Card has been with more than 90% of the national chain of convenience stores signed a strategic cooperation agreement. In Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu and other 15 cities have already built about 15,000 convenient payment outlets, in the past 12 months, the size of the card trading chain growth rate of more than 30%.

"The future of LA has yet to be tested compared to the first two successful startups." "After a number of entrepreneurial process, Suntaujan quite touched," every time I go to do a new enterprise, will be in the original enterprise shares diluted, to the management layer. Many of the companies that I do today have become the leading brand of their own field, and I have diluted a lot of shares, even some have not. ”

Maybe it's the last item that I'm going to be doing myself, the last time I started a business, Suntaujan said, "When I retire, I will raise a sum of money, investment, not venture capital, but seed money, the money to have dreams, potential people, and use my management, marketing experience to help them succeed." Perhaps this is the greatest achievement I have expected. ”

Entrepreneurship, let Sun ran not only harvested success, "Theoretically speaking, a man can ' dare to the world first ', but do products ' for the world first ' is not necessarily good, because the market needs Enlightenment period. I often think that capturing the opportunity to enter the market and increase the strength of the market development is like playing chess, to consider the thick potential and the field of the transition time. ”

Like the Suntaujan of Weiqi also like to use the idea of go to manage a business, in his view, Weiqi is only a 5 minutes to learn the game, but it is composed of different realms, to improve the state of a chess player may have to spend a lifetime of time and a lot of opportunities can not be asked, the State to improve the results will be better, The so-called enterprise management, actually only in the chessboard.

1994, the general manager of the four-up advertising company, 30,000 Yuan started. 1995 profit of about 1 million yuan, 1996 more than 8 million yuan, 1997 amounted to more than 10 million yuan.

1996, with partner investment Blue Cursor PR consulting company, has now developed into China's largest marketing services group.

1997, invest in China's first noble life free magazine "Life Express".

1998-2001, the joint founder of the Permanent Foundation Albert, director of the Executive vice president, successfully create a brand of business.

2001, Invest in Beijing Universe Fashion Technology Development Co., Ltd., as chairman.

2005, investment in the creation of Beijing LA Card Information Consulting Co., Ltd., as chairman, President.

Angel Investment Series:

Angel investment is just my hobby

Ten criteria for evaluating entrepreneurial projects

Two key words entrepreneurs must keep in mind

Such programmers have a career

Full analysis of UCWeb financing process

Super Outrageous VANCL Financing process

On the ten standards of the evaluation of entrepreneurial projects

My first angel investment

Login www.leijun.com Direct access to Lei blog