Yao Jinbo owns 23.7% of the shares in 58 City, and his net assets have soared since 58 went public. Together with his shares in Xueda University, Yao Jinbo's net worth is close to10 billion pounds. Look at him, how did a bank clerk start his career?
Smooth sailing people have a way to live, that is, to find the right direction, be confident and persist. At the webmaster conferences over the years, he will also teach many confused and helpless grassroots webmasters the way of financing: entrepreneurs must know what they want to do and spread out four or five projects for VC to choose from. Does VC dare to vote for you?
20 13 "you are me" shows many internet companies. In this program, not only Jumei executives, but also Yao Jinbo, the founder of 58 City, left a deep impression on people. 1999, graduated from Yao Jinbo university. At first, I worked in the technical department of Shandong Branch of Bank of China. I used to be a bank clerk, and now I have set up two listed companies.
At the beginning of 2000, he resigned from the technical department of Shandong Branch of Bank of China to start a business in the south. Simply doing technology is not in line with ambition? ; At the end of 2000, he sold a website he founded to provide domain name trading services to Wang Wan, China, and made his first fortune. This website is called Yi Bei. It started as a channel. Yao Jinbo makes it the biggest in China in a year. What a pity! Made a trading company? It's a bit far from the real Internet.
During his stay in Wang Wan, professional managers at that time regarded themselves as? Boss? Self-confidence, as always, often makes inappropriate things. ? I consider myself Zhang Xiangdong (the founder of Wang Wan). The boss thinks you should do this and that, and I stand higher. I don't care what others think of me. After a long time, the result is definitely good. ? He requires himself to be the ultimate, likes to be his own master, and does everything himself.
He also trusts his intuition extremely. Xueda Education was co-founded by his colleagues Jin Xin and rubin li during his stay in Wang Wan. He left Wang Wan in 2005 and didn't go to university. He wants to start his own business and become a real boss. He aimed at the classified information website Craigslist. Org, a myth born in the United States, once thought that it was natural for China to copy the Craigslist model.
At the beginning, his imagination was beautiful. As long as there are users and income support, he will go public in two or three years. ? Do it very aggressively, and even buy outdoor advertisements. The American market must recognize our company. I just need to say that my goal is Craigslist in China, the largest industry in China. ? The start of 58 city was really smooth, and the first round of financing was incredible for peers.
However, in this venture, the boss has repeatedly put the cash chain of the enterprise on the edge of the cliff. I thought the full version of Craigslist free model was native to China in 2005? Blank point? Unexpectedly, the market demand for classified information in China has not really been awakened. In addition, many entrepreneurs copied the same model at the same time. He found that the original model of 58 cities was only a reflection of Craigslist in China? Phantom? . By the time he realized this, it was already 2008, and the first financing had been burned out. He was a little disappointed with the confident internet along the way, but Softbank Safran trusted him and 40 million came in again.
Yao Jinbo took the lead in transforming 58 cities and exploring Craigslist's? China people's survival? , remove the DM magazine of Life Circle. But the result of this exploration only burned another 40 million yuan. At this time, some employees have begun to be confused, and some executives can't help but leave. ? Return to the internet completely? It is the second transformation of Yao Jinbo, a charging model for user value-added services, and it is involved in group buying. 20 10 April, the second round of financing from Softbank Safran and DCM arrived again, with the amount of150,000 USD.
Yao Jinbo evaluates himself? How are you doing? And then what? Start from scratch? . In fact, he burned money in this field for five years, and it was not until 20 10 that the account was even. Looking at the current situation of classified information websites, some money-making tools of search engines are in a sub-healthy state, some are sold to Internet giants, and more are retired from the runway after burning money.
Smooth sailing people have a way to live, that is, to find the right direction, be confident and persist. At the webmaster conferences over the years, he will also teach many confused and helpless grassroots webmasters the way of financing: entrepreneurs must know what they want to do and spread out four or five projects for VC to choose from. Does VC dare to vote for you?
Does capital really love 58 cities, again and again? Allow trial and error? . Yao Jinbo, however, remained sober about money and never believed it? Should money be the reason for winning 58? . In his letter to employees about the third round of financing, he stressed: Should we avoid it? A low-level tendency to solve problems with money? . What didn't make him suffer during the two changes? Did you burn all the money? , but? The money is burned out, and the pattern has not been found? . He will still cling to those freedoms that persist until the last moment. Have to close your own company? Group sigh, such as platform network? There are no advertisements, top information fees and membership fees on this website. As a result, the website can't be opened.
The third round of financing took only two weeks from preliminary negotiation to substantive financing. In a word, this famous American venture capital is optimistic about the market prospect of 58 cities. According to the current sales growth rate, Yao Jinbo seems to have only one or two years to knock on Nasdaq. However, Yao Jinbo publicly stated that there are still many aspects that are not ready? It seems that after this round of financing, 58 is further away from listing. Some people question that this round of financing will definitely make him suffer heavy losses in terms of equity, and it also exposes the financial pressure faced by 58; He was reminded, too There is no shop after this village? , just use it? China? 、? Internet? The concept is close. In the past two years, IPO in the United States will have a good harvest. When he wakes up, this wave of dividends will not know where to go.
Yao Jinbo's car is a seven-seater SUV, and he is not interested in cross-country and adventure. ? I have a big family, two children, two nannies and two old people. We often go out together and there are usually not enough seats. ? But he was extremely confident and even adventurous in his career, and changed many times in his early years? Driveway? When others caught up with him, he turned to another road. ? I don't like working in one position for too long. I like to try multiple roles. ?
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