The dilemma of Chinese-style public raising: speculation is higher than that of financing electric dealers

With the upcoming news of the stock-raising of regulatory opinions, the industry has once again become the focus of industry attention, on the one hand, this novel business model is gradually becoming a number of new technology products listed "standard", but on the other hand, the kind of public financing (including public-funded projects and public-raised platform) has begun to be a lot of practitioners and investors to sing

The first batch of water test to raise the business of the naming time CEO Zhang You is to see the failure of the industry one of the mode, he was in the interview with Tencent Technology has been blunt: public chip in the domestic does not work, VC is not optimistic, the next six months to a year, all the kind of the public platform will be transformed.

"Because the protection mechanism is unbalanced, this model cannot protect the rights and interests of the money, which is unfair to the users who pay the money." In the end, the platform becomes a hotbed of unreliable teams, the concept will continue to intensify the consumer and team, platform and consumer, platform and team of contradictions, and this contradiction will be intensified, leading to the chaos of the industry. Zhang You so stressed.

However, Dai Yue, the founder of the Red Rabbit who has been involved in the project, said that the public is a good way to C2B, this form will be the future trend. Just last month, nearly six years of "the father of Chinese gall machine" Zengdejun also said he wanted to raise a radio. This is the third time he has been in the music hardware project.

In Zengdejun's view, the public focus on value transfer, not the pursuit of excessive commercialization. As a kind of force of the feelings of the public to raise the right, but once and representative of the interests of the commercial atmosphere linked to the natural ills of the public to begin to highlight. This allows the public to look fashionable, but in fact some of the hype, gimmick far cover the practical significance.

Despite the controversy, the wind is spreading all walks of life and major companies, the internet giants have also been involved. From Ali Bao, Baidu, Jingdong, Suning crowdsourcing to the public network, chasing dream nets, and so on, and even SouFun and other real estate sites are also involved in the public, the domestic platform for a bit of "hundred Regiment War" means.

From the latest data from the network statistics show that as of October 31, 2014, the domestic already has 113 public-funded platforms.

But there are indications that despite the rapid development of the platform, a growing number of public-funded projects in the platform tilt, because these projects are not lack of funds, just expect a successful pre-sale results to the capital market story, which makes the seemingly vibrant Chinese-style market has brought a glimmer of shadow.

Publicity is higher than raising funds to raise the "Hundred Regiment War" hidden worries

"The real good project has long been someone has the resources of the Angel and VC Rob, it is not to the public platform." "Jiangsu Hi-tech Investment Group (Yi da Capital) investment manager Hu Zhengbin told Tencent Technology, because of policy reasons and users, products and many other problems, many investors on the platform of the project cautious investment."

People familiar with the matter said Tencent technology a lot of seemingly good projects do not care about financing issues, many domestic companies in the public after the launch of the products, the company launched their own employees and partners to buy, only to the public to raise the platform a certain fee, you can take a good performance "fooled" investors.

A practitioner told Tencent technology, the public raised in the overseas mainly to meet the needs of personalized customization of users. But the domestic public raise is reduced to the propaganda product service tool, even many businesses all put the platform as its marketing tool and buys the platform.

Public network CEO Sun Hongsheng Evaluation, the public platform for pre-sale and buy, this way more is used to raise the fraction.

In addition, the overall domestic market to raise the plate is relatively small, products are non-standard products, it is difficult to achieve rapid scale expansion, and user awareness also need a period of time to cultivate. Plus, a lot of good projects are not willing to expose, which leads to a small number of platform traffic.

Zhang You also said that 3 million of the above-Jingwei investment is mainly to invest in its hardware products, rather than the public platform. The capital side of the cold to a certain extent restricts the development of the industry's speed.

Class platform will be routed or replaced by electric dealers

In Zhang You view, the next six months to a year, all kinds of in-kind platform will be transformed into a pre-sale platform, regardless of what the other party thinks he is. The implication is that many of the current public-chip operation model is easy to replace the electric business platform.

A noteworthy detail is that, including Ali, Jing Dong, suning These do the public chip model itself are also electric business platform, if it is difficult to go on the road, can also be directly grafted to their own electric business platform. And the domestic Internet giants into the public is not simply a simple fund-raising, more level is to gather, integrate resources.

In fact, the real public chip and the electric business model is different. Electronic Business is the traditional mode of business, that is, the merchant first produced, the user passively accept. While the public-chip model is C2B, the public raised the rules of the game, only the funds raised to meet the project to use the public-raised way to operate, is an audience to accept the business before the logic of production. In this process, the project abortion or fund-raising in place, for the business is a valuable market experience, and in place of the project in operation, can continue to accumulate potential users, this is a clearer commercial road, the current more adapt to a lot of small micro-projects.

A roll-call employee said that the public is only a small team to verify the idea of products and quick access to funds, production of a choice, not suitable for all products. For the public-funded platform, the key is for the need to do a good job of the project services, how to obtain traffic and users are the key.

Sun Hongsheng said: "The next development will be back to the nature of finance, to help project financing and incubation, in the areas that need to raise a lot of development, rather than product sales." The public will raise a comprehensive platform to develop, the future may gather rewards, public goods, equity, debt in one, and with the payment platform. Because it is the return of financial attributes, is bound to be high threshold, in the future all dozen of the cover, the actual only do buy, pre-sale platform will be eliminated. ”

With the flow, there are users of Ali, Baidu, Beijing-east and other internet giants to join, they will be divided into limited resources, making grassroots platform to raise the day more sad.

It can be foreseen that the Chinese characteristics of the public will face the shuffle of the site, a group of unknown players will eventually fall, or forced to turn his way, and more electric business platform will continue to pre-sale and publicity for the purpose of the false public to persist.

(Responsible editor: Mengyishan)