Zhang Xiangning recalls entrepreneurship: Summer no air-conditioning staff are wearing vests

From 1996 to 2006, from the Million network to the world interconnection, in the ups and downs of the internet industry, Zhang Xiangning experienced two times the success of entrepreneurship. From getting IDG's first 500,000 dollar venture capital, to now part-time as an angel investor, Zhang Xiangning deeply felt that angel investment played an important role in the entrepreneurial process. 　　In his most familiar internet field, Zhang Xiangning is using his own experience and energy to help more entrepreneurs realize their dreams. 　　Entrepreneurship 1996 years, when the first wave of internet began to sweep the world, Zhang Xiangning keenly aware of the business opportunities, and his brother Zhang co-founded the Beijing Chuang Lian Communication Network Co., Ltd., which is the later million network. Start-up early, Zhang Xiangning only 2 million yuan start-up funds, in the internet this burning money industry, 2 million appears insignificant. Soon, 2 million is only One-tenth left, but the company has not yet achieved profitability. 　　Immediately, the company can still leave 200,000 of the funds, continue to operate, there are only two possible--loss of a paper left or to success, Zhang Xiangning into a dilemma. Perseverance does not necessarily succeed, but giving up must mean failure, and in the end, Zhang Xiangning not bow before the challenge. That year, the company continued to operate on borrowed money. 　　He recalls the scene: only 4 rooms, in the hot summer will not buy air-conditioning, employees wearing vests in the office, no female colleagues when they do "bladder ye." All the suffering is not free, rushed out of the trough, Zhang Xiangning's insistence finally won the return. 1999, million network ushered in the first IDG50 million dollar venture capital, the second round of financing in 2000, the United States new bridge is also among the entry. 　　In just four years, million network has developed into China's largest domain name registration and website platform service provider, with hundreds of thousands of enterprise users, becoming one of the most successful internet companies in China. 　　Entrepreneurship is also a kind of addiction, in 2000, in the million net has done quite successfully, Zhang Xiangning made a decision to all the industry surprised, leaving million nets, two times entrepreneurship. At this time, comes the internet cold winter comes. In the second half of 2000, Na City blew, people began to the internet with a variety of questions, Zhang Xiangning but not to change their direction, he noticed that Google, registered very easy Company (Verye), began to brew a personalized business model to surpass Google, and at this time, 　　It's three years before Google goes public. Sure enough, in the second half of 2003, Google's listing led to the second wave of the Internet, in March 2004, Verye was Japan Mitsui Sumitomo Insurance Company's venture capital, restructured into the "World Interconnection" group. Subsequently, the world interconnection has obtained from Mitsui Sumitomo,jaic and MiH joint huge capital investment. Sufficient capital to promote the rapid growth of business, at present, its core business China Network Information Center, China commercial Telecommunications, narrow, China switchboard 95001000 and so on have developed mature, the world has become a leading intelligent Internet advertising service provider. Part-time Angel two times the success of entrepreneurship, so that Zhang Xiangning deeply feel the importance of angel funds in the entrepreneurial success, and as a self-made successful person, Zhang Xiangning very understand the feelings of entrepreneurs, understand the difficulties they have to go through, know the early start of the start-up funds may bring the fatal blow. He said, "Although the Internet is now operating in good condition, no longer need to refinance, but I will also go to participate in a number of entrepreneurial meetings." There, I will see a lot of passionate entrepreneurs, looking at their eager eyes, I will think of the experience of my own business. 　　"It's a feeling that drives him to help these young entrepreneurs, and he starts a part-time job as an angel investor." Massive information is the first project of Zhang Xiangning investment. 　　He said that this is a Tianjin company, specialized in search engine basic technology, entrepreneurs are the couple, male is a technical maniac. "We met at a party in Donews, I learned about their technology and I was interested in it, and they were just looking for investments, and they felt good after meeting, and I invested in almost 3 months of contact." 　　Zhang Xiangning was happy to talk to reporters about the investment process. "The reason why I choose them is that I have confidence in their technology as well as the character and team of entrepreneurs." "Zhang Xiangning said," I went to Tianjin to see their company, the scale is relatively large, there is a 100-person technical team, customers include the search, the Chinese literature publishing house and so on. "Because it is a pure technology company, massive information has not yet formed a good business model and business flow." 　　But another company that Zhang Xiangning invested at least brought him 5 times times the return on investment. According to him, this is a Shanghai software company, several entrepreneurs are from Kingdee out. Although, the domestic software industry has been not for everyone optimistic, but Zhang Xiangning feel that the software industry still has a future. The company was originally to do Office automation and OA software, mainly knowledge management. "I was the first investor to help them start a business. "Now, I encourage them to do wireless OA, and they are currently working in this direction," Zhang Xiangning said. "The company has made some software packages for IBM, and has done some modules in knowledge management, which has achieved a better business return and basically achieved break-even." Since entering early, after two or three years of development, Zhang Xiangning Initial input According to the company's current value to calculate, "not only the cost has come back, estimated to earn at least 5 times times, this is a conservative estimate." 　　"Zhang Xiangning is quite proud of the investment in the project. Since the experience of experience as an angel, relative to the general investment, the need to consider more factors, variables are also greater. "There used to be a network phone project, mainly to do broadband telephone equipment, is to be put into the letter of intent are signed, but because the situation is more complex at the time, and finally did not cooperate successfully." "Zhang Xiangning recalls,"Now the momentum of rapid development of the public comment network has also been to find us, but they have developed more mature, so the price is higher, I did not consider. "In the past few years, Zhang Xiangning has contacted more than 10 projects, the final investment of about three or four," in fact, the efficiency is quite high. 　　"he said. Zhang Xiangning told reporters that so far, the amount of their investment is generally not more than 2 million yuan, basically also in his most familiar TMT aspect. In his view, the most important thing to do angel investors is to know the best, followed by a better one, so that can guide the entrepreneur next how to do, "mainly these two points, money is less money is not the most important." As an angel, Zhang Xiangning seems very sober.