Shake handshandle net investors XiaoHu zhu: shake handshandle really made a lot of wrong, fortunately the wrong time of the first, the capital base thick, also can have the chance to hit

on March 7, as the representative of the group-buying shake handshandle net investor GSR ventures partner zhu XiaoHu and Beijing capital li-ping qiu, sitting in a cafe in pudong, frank said “in retrospect, we really made a lot of wrong (shake handshandle net), fortunately we made a mistake the earliest time, capital base thickness, also can have the opportunity to”.

(the graph is: zhu XiaoHu GSR ventures partners)

zhu XiaoHu day dressed in a dream bazaar leisure clothing, the brand is also jinsha river an electrical business portfolio. Zhu XiaoHu as an investor, seems to have become accustomed to walk from behind the scenes to the front, at the right time to promote their investment projects or platform. But at this stage to shake handshandle net, zhu XiaoHu represented by supporters of the jinsha river is not only the scenes, the advocates of the camera, or the leader of the company’s strategy and decision-making.

but zhu XiaoHu insist that their identity has not changed, from June 2010 to buy into the shake handshandle nets, “we are the company has always been a staunch supporters, even experienced rapid industry reshuffle, shake handshandle net of the senior management team has carried on the reorganization, but this is the correct decision of the investors and founder reached an agreement after”.

admit mistakes: we have capital to change

just three years, the global and Chinese market rapidly changing.

group founder company in November 2011 to billion-dollar valuations, raise up to $700 million, raised $1.7 billion into Google listed after the largest Internet trading company. After the company share prices have been falling, valuing the company at once evaporate a third, founder Andrew mason is the board of directors “stop”.

the Chinese market, financing, rapidly in leader shake handshandle net impact on the market after the failure, market plummet: more than 5000 group fell more than half, also there will be no investment institutions for group company. Once the group-buying stars such as outfit, 24 coupons because of capital chain rupture, founders and investors break eventually dying, there is a certain scale in group-buying independent brand basic only Meituan, handle and glutinous rice.

look back at this period of the development course, like on a roller coaster XiaoHu zhu also jokes “really too fast. When the exalted skyer stage has in the past, we need to calm down revisions, precipitation. Break for challenge is the purpose of long distance.”

zhu XiaoHu admitted publicly for the first time handle web site in the city expansion, recruitment, market and management made a lot of mistakes, “but we make a mistake at the earliest, mind also soon become clear, so there is still time to change”.

as most group buying industry raised the shake handshandle of nets, a long time are extensive expansion and management. Three quarters of 2011 years ago, the shake handshandle of spending on sales and marketing more than hundreds of millions of dollars, and that three quarters of the company gross margin is only 88 million, this crazy let investors money.

at the same time, the growth of the personnel without restraint, and also there are many call on the headquarters of the middle, half a year has played just two CARDS. More have a host of good and evil people mixed up regional division staff, quality. Shake handshandle net if not got huge financing, may also become a failure of specimens in the “high fever”. And zhu XiaoHu earlier said in an interview with the media, the shake handshandle net is the first in the industry come on the door, and the first on the brakes. Immediately, the shake handshandle of negative with net almost silent, for a long period of time, once the leader began to relax.

zhu XiaoHu feel fortunately, shake handshandle net direction has not been wrong: the first goal is to continuously explore how to serve the local small and medium-sized businesses; Next to the company go smoothly, investors and founder in the equity allocation, management ownership, strategy formulation agreed. “Coupon period of rapid development, get the user and traffic cost is indeed a lot higher than the early and handle in the early days of efforts on also lays a foundation for brand expanding. Current site daily UV reached 4 million, more than seventy percent are brought by the user directly input the main, this is the early market achievements “.

therefore, founder of the shake handshandle net and spread in the summer of last year, executives, and layoffs increase and other negative news at the same time, the investor and the founder of wu jointly completed the restructuring of management, a number of prominent executives, including the original baidu, vice President of airborne handle, and there are still several senior executives at startup time stay.

but the shake handshandle net regrouped, GSR ventures and Beijing capital such as the management to support the new team, “shake handshandle net has enough strong financing support, we have to change, we have enough patience, also believe that the shake handshandle net will be a success.” Zhu XiaoHu said.

error correction: fine people effect

since the third quarter of last year, the shake handshandle net management task is to clean up “bad”, the company set out again.

XiaoHu think zhu is a two-step, first is to further improve the company personnel system, change only take money to people who do not work, the society and universities recruit the employees. The second is the elaborating management, sales, business negotiations, from quality control, and merchants clearing, ERP, and other links to carry out rectification. Busy, of course, reforming, initial is not known to the outside world, though sometimes have dismissed “muddle along” or voice, but there are some signs, constantly shake handshandle net after trial and error enters into the way of virtuous circle.

on the other hand, at the same time of MOTOROLA news from China of layoffs, wangjing MOTOROLA headquarters building has two whole layer is about to be put into use after decorating, use is the shake handshandle net, the new headquarters over different business divisions of the company long-term scattered in a number of the problem of the office, is beneficial to strengthen the cooperation between different departments, improve efficiency.

on the other hand, shake handshandle net since last year in the ERP services reached cooperation with IBM, the IBM offer shake handshandle net ERP system and the most effective overall solution, financial, human, and the comprehensive budget management, etc., with scientific management to increase efficiency.

in addition, the “daily” is shake handshandle net and cooperation between businesses, namely the shake handshandle of one party to provide high-quality merchants due payment on that day, no longer use payment days stay in business. According to understand, consider quality of the dealer standards from multiple dimensions, such as sales, service, user evaluation, the shake handshandle with daily business proportion reached more than 30%.

in terms of staff recruitment and deployment, shake handshandle network providing perfect training system and career planning. Industry is still in “part-time, internship, temporary” compression cost, the pursuit of profit. Shake handshandle net does not rely on squeezing employees “cost saving”, on the contrary make the reasonable operating mechanism to motivate the sales.

shake handshandle net novel, vice President of company, the company through a series of practical action to restore the brand image. In terms of marketing, the shake handshandle net will not only increase the intensity of online marketing, and will put more into the cooperation with merchants, promote the marketing and sales of merchant ability.

after group-buying competition: the dominance of the victims are merchants

group “profit” news, shake handshandle net still remain silent, the former leader now become with runners, shake handshandle deeply know the price of leader.

zhu XiaoHu don’t think the shake handshandle net will be the pursuit of profit in the short term, “the pursuit of profit at the present stage meaningless, friends group’s turnover and earnings news does not represent the real market, the industry could not have a monopoly or dominance, otherwise disadvantaged businesses.”

XiaoHu zhu believed that group-buying compared to the connotation of the original has changed too much, than a low price before, now more is the competition of service level. “As we just invested a mobile project bleep a taxi, solves the user take a taxi in this matter, big cities at a deeper level is based on the taxi and the user’s location dimension, urban congestion to reasonable deployment of the vehicle. , and also buys more than solve the service at a low price to buy it, but also consumer location arrangement, the distribution of the consumption of time and so on, this is a complex solution, is the group purchase company can provide more value “.

e-commerce industry analysts LuZhenWang also agree with this point of view, “low price is no longer the focus of group purchase purpose, but on the basis of more convenient, enjoy the offline extensive public service, including food, photography also include fitness, including more differentiation after-sales service”.

2013 won’t be buying the dust settles a year of the competition, vice President of shake handshandle net new department consider group-buying competition this year is still in stalemate, he introduced: competition internal work is represented by to fine management and efficiency of operations; Competitive external cause of capital structure is the key to the competition and development; Competition dominant merchant dispute has evolved into service ability.

zhu XiaoHu and li-ping qiu, the two shake handshandle net investor told reporters, shake handshandle net off is to run, but the bank still has a long way to go. “Both early recruitment website, and in recent years, the video web sites, social networking sites, which isn’t eight years of struggle for ten years? Group-buying competition.” (finish)