Wang Xing: the "rich second generation" recommended by Tsinghua, and the entrepreneurial process was "a narrow escape"

1979 Wang Xing, a native of Longyan, Fujian. His father, Wang Miao, was the owner of a well-known cement factory at that time, worth hundreds of millions. It can be said that Wang Xing is a veritable "rich second generation".

The rich life did not make Wang Xing like other "rich second generation", lazy all day long, ignorant, and living a life of indulging in consumption and profligacy. On the contrary, he has been what his parents call "other people's children" since childhood. He is not only a typical "three good" student, but also was sent to Tsinghua University by Fujian Longyan No.1 Middle School to study in the Department of Electronic Engineering in Tsinghua University. During his stay in Tsinghua, he not only got excellent grades, but also took an active part in extracurricular activities. He joined the dance team of Tsinghua Student Art Troupe and danced a traditional folk dance called "Huangtuhuang". Topless, with a chest drum tied to his chest, wearing a pair of coarse trousers. It expresses China people's love for the yellow land and dances wildly on the yellow land. Generation shows high fighting spirit and optimistic spirit.

200 1 After graduating from Tsinghua with a scholarship, Wang Xing chose to go to the United States for further study and pursue a doctoral degree in the Department of Electronic and Computer Engineering of the University of Delaware. But at the beginning of 2004, 25-year-old Wang Xing chose to give up his doctorate and resolutely decided to return to China to start a business. In his words, "At that time, I had nothing but ideas and courage. After graduating from undergraduate course, I went to America. I don't have any social relations except my classmates. When I came back, I found a college classmate, a high school classmate and three people groping in the dark. "

Wang Xing's first project is called "Duoduoyou", which is a typical social networking site. You need to register and fill in some personal information and nicknames. Users can make more friends through this website. The core idea of this project is to know friends through friends. In fact, SNS (social networking service) websites follow the small-world theory. Although the world is big and crowded, in fact, any two people can be connected through the relationship of six friends.

After that, Wang Xing started his second project "Youzitu", which is a highly targeted service-oriented website. When Wang Xing was studying abroad, he deeply felt that foreign digital technology was very developed. Because his parents are not used to surfing the Internet, Youzitu allows overseas travelers to send digital photos to China and pay by credit card. Youztu is responsible for printing and sending it to their parents.

Although both Duoduoyou and Youzitu attracted some users, they never found a stable profit point and ended in failure.

He learned a lot from his previous two failed ventures. Wang Xing, who came back from abroad, has always believed that SNS still has a lot of room for development. This time, he chose to focus on a market segment: SNS in university campus. In 2005, Wang Xing studied and studied the successful experience of Facebook, and founded the "Campus Network" by combining the previous experience and lessons of Duoyou and Youzitu with the national conditions of his country. In just three months after its launch, the intranet attracted 30,000 users, which grew very rapidly.

After the acquisition of the campus network, Wang Xing publicly quoted a famous speech by former British Prime Minister Churchill to show his attitude:

"This is not the end. This is not even the beginning of the end. But this may be the end of the beginning. "

After another entrepreneurial failure, Wang Xing started his new entrepreneurial project. On May 12, 2007, he set up a lunch. This time, he borrowed from American Twitter and made a localized Twitter.

The name Fanbu has a historical allusion, that is, "Lian Po is old enough to eat a meal", and later it was extended to China people to greet "Did you eat today?" . At first, they looked through the dictionary for almost a week and couldn't think of the name of the website. All good domain names have been registered. Later, a person came up with an idea, wrote a program according to the arrangement and combination of initials and finals, checked the domain name registration while running on the server, and finally chose Fanbu.com. This domain name is not registered, only 60 yuan a year.

Although this project has a good prospect, after several months, the website has not improved. On the contrary, Sina Weibo, which was launched two years later and also imitated Twitter, quickly spread throughout China. In fact, Fanfan is not without development prospects, because with the release of Steve Jobs' iPhone, the arrival of the mobile Internet era and the popularity of smart phones, more and more users like to post instant messages on their mobile phones, which is also the reason why Weibo can quickly become popular. However, after working for several months, Wang Xing saw that the development was slow, but he lost patience. He put it aside, let it grow naturally, and then turned to a new website, Hainei.

Located as a white-collar social networking site, Hainei provides personal space, mini blog, photo album, group, radio station, alumni record, friend transaction, film review and other services. However, he never found a breakthrough in this website, and was finally successfully broken through by Kaixin.com relying on small games. In other words, people are busy stealing vegetables, grabbing parking spaces and having fun in Kaixin.com in their spare time.

After being frustrated at home, Wang Xing looked back and found that Fanfan had developed well, so he picked it up again and started again. In the first half of 2009, the number of Fanfan users successfully exceeded one million. However, due to lax content control, IP was shut down and banned a few months later.

Because he didn't know when Fanfan would be able to operate again, Wang Xing began to seek new projects, browsing various websites every day, learning and watching the latest products. This time he turned his attention to Groupon in the United States.

Groupon, a group buying website, was one of the new popular models in America at that time. Groupon is a homonym for coupon, which means coupon. After studying Groupon, Wang Xing thinks there should be a great market demand in China, because many small-scale businesses with sales radius less than several kilometers can't find a suitable place to promote it, and the promotion method of group buying can help them bring transactions and completely consume according to the effect. According to various statistics, this is a market close to 1000 billion.

On March 20 10, Meituan.com was officially launched, which quickly attracted the attention of others in the industry. There are many group buying websites launched in the same month, such as Wowotuan, Handan.com and 24 Voucher.com. According to statistics, during the period of 20 10-20 1 1, the number of group buying websites surged to 5,000, and the competition was extremely fierce. This period is also known as the "Thousand Regiments War". During this period, many group buying websites spent money on advertising. Although many colleagues and investors also suggested that Wang Xing carry out vigorous publicity, he resisted the pressure and made a decision not to smash advertisements. This decision also enabled the US Mission to seize the cash flow, and its advantages were more obvious in the subsequent competition. With the failure of Handan. The listing of com, the fact that Meituan acquired most of the 24-coupon team and other group-buying competitors declined due to financial problems, Meituan won the final victory of the Thousand Regiments War and occupied the market quickly and steadily, occupying more than half of the market share of the group-buying industry.

After that, Meituan got investment from Sequoia Capital and Alibaba, and developed more rapidly, constantly expanding its service content, and launched Meituan take-out, Meituan tourism, Meituan hotel, Meituan taxi and * * * bicycle enjoyment. Wang Xing is committed to making Meituan the best "life service e-commerce platform", with everything to eat, drink and have fun. I hope to have the opportunity to make the US Mission reach the level of Ali and Tencent. On September 20th, 20 18, Meituan was officially listed on the Hong Kong Stock Exchange.

Now Wang Xing is worth 220 billion yuan, and he is undoubtedly a successful person. However, some outsiders questioned Wang Xing's voice, saying that he imitated Facebook, cloned Twitter and copied Groupon (Gao Peng). Although we praised his indomitable spirit again and again, he started his business again and again, but did he fail so many times because of his own lack of ability? He's taking a chance. Is he lucky?

No matter what the outside world thinks of Wang Xing, he is the object we should learn from. He always spends a long time thinking about problems. Wang Xing believes that if a person wants to be top, he must understand the word top:

TOP = talent+opportunity+patience

This person needs talent, talent, suitable opportunities and long-term patience.

end