Why does the public comment become the focus of industry and capital?

The successful listing of Yelp shows the public comment that this model has great value in fact. And we have been doing a lot of work on how to put the consumer and merchants can butt up things, and we did for nearly 10 years. And in those ten years, the internet has changed all sorts of people: Google, for example, has changed the question of how to help people find information, which is now a platform for people and information, such as Facebook, which has changed communication between people, and it has become a platform for people and people; Amazon China, Taobao is changing the relationship between people and goods, they become a platform for people and goods. But the relationship between people and services this platform has not been able to solve it, and we are the public reviews in the past decade has been a continuous effort to solve this problem, and recently some historical factors have made us the focus of industry and capital.

1, the mode of the re-detonation.

Early public comments to meet the needs of users to find information, beer and skittles demand. Later we found that after finding the demand, users would like to have a discount, that is, discounts, concessions. So we do a call membership card products, although the latter is not too successful, but it is the mode of coupon burst out, the attempt not only brought us cash flow, but also attracted the investment vision. And the recent hot group buy again detonated this model, its essence is in fact, and the previous coupons consistent.

2. The development of mobile Internet.

The recent rise of the mobile internet to get through the online and Offline the last distance between, because the service it is not like the electricity business through the logistics solution, even at home there is no problem. Online and offline are always disconnected between people and services if there is no mobile internet is not a chance, and ten years ago is not the condition.

3, consumption upgrades.

There is a big trend in recent years in China: consumption upgrades. In 10 years, the number of white-collar users, that is, the domestic middle class disposable income has been raised, mainly spent on beer and skittles, which is also our review of the historic fire is one of the important factors.

The key node of the development of the public comment

Back to 2003, when computer penetration was low, at that time, our public comments on the user base is actually very small, but still need to cover the content of the product to the user, and each city's content accumulation and construction of at least two or three years, and we are to do it for seven or eight years only to the scale of today, I think this is our first key node.

The second is our careful verification phase. We thought this thing was too close to the money, because anyone who has seen the site will be spending money on one of the things he's going to do next, and the merchant is a lot of thousands of small businesses that have no bargaining power or marketing skills, so I don't think it's a problem. But we did not have the impulse, we chose to verify, want to see on the Internet, in the domestic internet on the end can do. Later we used six months in Shanghai to verify the concept, and did not spread across the country.

Public comment on how to grasp and maintain the first group of Angel users

The first group of Angels to comment on the audience are mainly friends and family. My former high school friends, I can think of these people all sent an e-mail to them, I said must come up to write comments, forcing them. And my family, I in two months to train my father into a public comment on the top 10 points, my dad was 68 years old, never on the internet. We comment on the launch of the top 10 features are also to motivate our first group of Angel users strategy.

What are the suggestions for entrepreneurs at the capital level in the entrepreneurial experience?

In the process of entrepreneurship, we should spend less money and work more, and continue to go on.

At that time, we generally comment on the first round of financing is about 1.3 million more, the second round of melting 4 million. At that time felt less, has not announced, because embarrassed to say. But I think it helps us in a way, and if I have to choose again I will not be able to make more money, because it is very likely that the company would have been harmed by the beginning of a lot of cash. Because a lot of things need money to do, you have more money, you will consider these things, such as whether I first buy some traffic, Let this site increase the number of users ah. Then the investors are under pressure and your employees are under pressure.

Raising a lot of money will result in high expectations, so you're going to make a big investment and you're not going to focus on a key point to do it right because you're too tempted.

I now deeply understand, you do a company or a product, at the beginning must start from the minimalist. You must know what the core function of your product is to meet, and what is the core point of success in this thing. In the beginning of the product to be validated, and this validation is to make a product prototype, this is not to spend much money. First the simplest things to make, do not want to marketing, do not want to finance, what do not think, to verify to quickly iterate, rapid verification, you this product is not a user needs, not to feel, with data to speak. So I think that any product at the beginning does not need too much financing.

Views on mobile internet and group buying

I have a deep-rooted idea of an idea, or a fear, what is it? That means I find that the company is being subverted, and it is often when the platform changes. One of my deep-rooted views is that the Platform of a technology can often turn old companies upside down and give new companies a chance. So for the comments we are not afraid of people on the Internet, PC competition with us, but we have been very afraid that the Internet, mobile Internet will be possible to get rid of us, this is we have been very vigilant. For the Internet, because we have a good at home, is to be able to see some of the things that have happened in America, in the United States, many attempts have been made, like Foursquare now development is good, so we think from the front this is a huge opportunity. The other is actually mobile has been in my genes, we have been more sensitive to mobile, as early as many years ago we tried to use WAP to do comments on the move.

For group buying, we believe that group buying is a product, is grafted on the platform above a product. Group buying is a management that attaches importance to traditional, traditional camps. The essence of group buying is actually important is a company's management capacity, sales management, we think it is not the same as the Internet products, it is a long-distance running, may not follow the beginning, but in the back of the force to catch up on it.

What is the core value of O2O and public comments?

We believe that O2O will have a platform-level application. As consumers the most important is to find information, eat and drink, and then find concessions, the frequency of finding information will certainly be higher, this will be the platform's core application. Some of the things related to concessions, reservations, potential takeout, payments, etc. will be the core functions inside. In the comments, our core is to achieve: so that businesses and users, users and merchants have a better communication mechanism, so that their communication more smoothly.

Public comment on the concept of open platform

Our public comments must be a platform of hope, and we want to be more like the Facebook platform than a Tencent platform. Future public comments will be its own most accurate POI information through the platform to share out, in collaboration with other vertical areas of the O2O industry, together to create a reasonable interest division system.

Public comments on the founding of Zhang for their own business, for products, the understanding of entrepreneurship has been a wonderful share.