“The man behind lei jun” tung: how to make a copy of millet pattern abroad

cloud network hunting note: well-known Yu Qiming venture investors who have service, in the seven years, he was the leading investment millet, every guest and ehi star enterprise. In October 2013, tung into across both sides GGV capital (hereinafter referred to as GGV) partners, focus on domestic and silicon valley startups, attempt to copy the Chinese model reverse to the abroad.

the author: Wang Rehan source: sina science and technology

“wash my mind lake sea, rivers, gone with the wind I such… .. Qianshan mountain I walk alone, don’t need to send.” When the sunset on the streets of Taipei, 10 year old tung travel with a friend in the stream of people, like singing loudly, when he has a natural and unrestrained, freedom close relationship with heart. They selflessly sang, a little bit of convergence to the sun light, the last wild shine on their faces.

Taiwan in the 1970 s, when the era of Chiang ching-kuo borrowing daxing “10 years of construction phase, Taiwan’s economy began to take off. After experienced oppression and silence of the ’60 s, the Taiwanese in the ideology and culture on the golden age, promoting the spirit of freedom. Tung is infiltration among them, his singing is the 79 edition of “chu” theme song.

straight to today, the lyrics, the scene is still forever in his heart. Then, maybe, longitudinal chu sensation of the world a generation of Taiwanese. Only children and the house didn’t ever want to, after three years, from then on, walk on the road alone in a foreign land wandering life. 14 years in Taiwan, the United States for 16 years, Hong Kong and Singapore for 4 years, eight years — the mainland started in Asia and tortuous journey to Asia, also made of him today.

after back to mainland, who served Yu Qiming venture capital, in the seven years, he was the leading investment millet, every guest and ehi star enterprise. In October 2013, tung into across both sides GGV capital (hereinafter referred to as GGV) partners, focus on domestic and silicon valley startups, attempt to copy the Chinese model reverse to the abroad.

business fail not confused: Internet opportunity

in March 2000, Singapore, a late into the night in the morning, who sit home alone, a desk lamp, a laptop and a complete PPT. Bear the 70 employees of pressure to survive, he stayed up all night long, frustrated, helpless, put all your eggs in one basket. Because at dawn, he will walked into the conference room, with the Singapore telecommunications, the Philippines and Thailand communications negotiations, at a reasonable price to sell his company.

meanwhile, U.S. stocks were routed began, is about to collapse down to the bottom. Accumulated a century carnival and dreams were broke, bubble will immediately into a must have. “When the stock began to fall, was interested in you company, begin to lose interest, traditional industry to the Internet or some fantasy, this all have no.” Tung said.

he at that time, run a called Asia2B electricity company, and a group of young people full of ambition, want to use their ideas to change the world, but the reality is given a hit. Although the company a lot of money, but failed in the grope for business model, in the bubble years, can be sold well.

over the years, always no man but smell its tung smile, looking at the Chinese partners off the tears. Drama, three people looked dazzling Wall Street, and then in the skyscraper Windows with negotiations with the United States, as Holly said: “at the moment, I stand here still not afraid, but there are some more important things, giving us, beat the courage of fear.”

on that day, Asia2B buyout by Singapore telecommunications, then after a merger with SESAMi called hui business in Asia, its total capital of $72 million, Singapore telecom account for 44.5% of the shares, lee hsien Yang as the chairman of the board, also became a alibaba’s fiercest rival.

although finally sold the company, he personally did not lose money, but for him, this is the first business failure. In the process, he deeply understand the entrepreneurs behind, no one can accuse of loneliness and carrying the heaviness of the team, and also shaped his sense of values and the experience – “if without the industry, there is no qualified entrepreneurs criticism. Stand like, really is easier said than done.”

a lot of times, business fail easily to entrepreneurs to collapse, means that the value of the negative to the individual, and confidence destroyed. But who doesn’t seem to will the failure count failure, even not so confused – “I think at that time, the Internet there is a chance, but time may not be so fast.”

may be his innate optimism, combined with years of cultural history books, in short, when frustrated, he said, people will have a lot of things can encourage yourself and others, have experienced something before. Also won’t be afraid, can stand to live, calm down and think of some way to solve the problem.

from 5 years old he began to read history books, read the first book is. In “wu yue chun qiu” For he lu, fu and goujian between story details, he said he still remembers clearly. One country or collapse, lost a slave, the ups and downs, can realize, thrashing about three thousand the swallow wu, but even also temporarily dominate escapes the wheel of history. This is probably histories make people the power of reason.

“for investment, the company and the competition between companies and the ancient competition between countries are similar, including when making strategic decisions in response to each other to come up with any way, it is helpful.” He said.

about perusal history, vancl CEO Chen recalled: “one time in Shanghai to talk about our business, he has been waiting for me when I go to. In the lobby of the hotel in the pudong new area, I saw him looking at ieyasu tokugawa, and that a set of more than 20 books. Is that 09.” He impressed. Every guest is sure when qiming investment projects, and he is now out of the board of directors of the company.

for those routes: heaven doesn’t pay the attendance

deep dark brown hair front small roll, a round face no borders on the myopia glasses, the eye is not big. Laughter, eyes narrowed into two slits, and the mouth like occupied half face, the risorius bent into a near 90 degree Angle. The height of 1 meter 95, football players like burly figure, often dressed in a blue or white shirt, black jeans. This is the standard of tung portrait.

and tung and generation of Taiwanese people, most of the travel to the United States, a lot of things is he at Stanford alumni, such as Yang, Mr. Lin, and so on. But he said, today’s Taiwanese some limited self, not enough internationalization. “This place is very warm, human also is very heavy, but if you don’t put in the long run, not to mainland China to the United States, can’t keep up with the trend of the world, is quite a pity, is fatal.”

in 1993, who graduated from Stanford, went to Wall Street, merrill lynch stock. That same year, Marc Andreessen (mark Anderson) invented the browser, the age of the Internet really come. Differ for a year, he had plunged into financial circles, and in that era, the Internet has not yet been like today become mainstream.

in the past two years, he spent his life in New York two years in the wild. Work on Wall Street has often out of the class is, in the morning and on weekends, tung and his friend jumped into a taxi, together into the dazzling city that never sleeps, feeling the metropolitan wild nightlife.

is in the two years, he formed the habit of staying up late, so he can sleep four or five hours a day, time in half an hour, for a week in between both sides and can quickly adapt to. He was in merrill lynch, are often do data model, write a report, or powerpoint presentation, and then eating take-away meals.

in the continental United States since the age of 13, he left for ten years in Asia. In 1993, don’t want to out of Asia for a long time he went to Hong Kong. But yet to return to Hong Kong at that time, because of the language barrier, he could not find a sense of belonging. Had the most uncomfortable in a year later, have a choice in front of him – join the background of warburg pincus, funds, or have a background in Asia – LP from Taiwan, Japan, Indonesia and Singapore’s funds. He chose the latter.

to choose, who does not seem to be worried about that he knows what he wants, and how to let oneself more international and grounding gas. “The three years, two years in Singapore Taiwan for a year, I see all the history of southeast Asia, also know what’s it like in the Asian countries outside of China. The future trend of investment analysis, and the Chinese companies into the international, this kind of judgment is at that time.”

morning xing Liu Qin venture partners once think hard molded a good investor, but lei jun says heaven not necessarily reward attendance, known as more important. Liu Qin gradually understand, diligence is necessary, not a sufficient condition is critical opportunity, the opportunity is based on the thinking of the trend. Then he said: “heaven is not necessarily reward attendance, depth of thinking is more important than hard work.” But who often referred to this view.

this on today’s bosses are appropriate, robin li, ma and lei jun was born in the 70 s, after the graduation work to catch up with the growth of the Internet savage typhoon, conveniently, is a hero is known in the time of misfortune. And as an investor who, after the Internet bubble, in China, the United States and southeast Asia more than rush about work and life experience, gradually grope for out of the China model the path of the sea.

is engaged in the investment banking and PE work, also after the industry, he gave up the opportunity to join the gobi capital directly into China, rather than invested in Skype, Yelp and BVP of Pinterest is capital – although his eyes aimed at home, but want to curve for national salvation. From 2002 to 2002, the United States is well ahead of domestic silicon valley startup mode, China still is given priority to with copying silicon valley.

in the United States, he gradually learned how americans look at the Internet, also understand the silicon valley investment style. “In later, back home, I dare to bet, know what you’re doing. If not today’s choice, if I still dare to wager millet, don’t know whether there is a chance for millet.” He said.

and lei jun, aged and other entrepreneurs to become a friend

media often described who as the man behind the lei jun, in an interview, also like his. “Why are you early bet lei jun? He has no experience in hardware.” Once millet production is insufficient, “millet isn’t lose?” Asked about such problems, he always backwards slightly lifted up laughing, then patiently answered, even out of the board of directors of the millet.

so far, he and once the qiming cooperation of entrepreneurs are still friends, such as millet, Li Wanjiang, that old, lei jun ehi ZhangRui equality, is the industry recognized friendly investors.

millet co-founder Li Wanjiang said, who gave the impression is like a river gang of generous of the eldest brother, see people just laughed, and then a clap shoulder. Because lei jun 2010, met tung. “In winter time, he was wearing coat, looks like chow yun fat.” According to li, who also will accompany a wife nest on the sofa watching TV series, with unknown tender one side.

now, who is still kept in touch with lei jun, Li Wanjiang, sustained cooperation. After joining GGV, who is also engaged in millet iec investments, including smart hardware such as bracelets, and suitable for fund jointly with millet startups in the ecological system. “He will share in the silicon valley to see the new related projects, such as such as the Misfit.” Li Wanjiang said.

the CEO old still remember every guest, in March 2009, in the spring, when the man was just a small company. He and who shoulder to shoulder to see every guest a warehouse. It’s easy to walk way to the warehouse long and bifurcation, rough footway, barren ground.

“hot, road difficult to walk, but he insisted on walking, suddenly I was very moved by. Now think that’s a startup scene.” For many years, the old is difficult to forget the scene, “let me go today I can not necessarily can find that place again”. Many years ago that moment deeply touched him, and eventually become one of the decisive factor that accept qiming investment.

now his entrepreneurial style, in addition to the individual character, also cannot leave the American movement to the cultivation of the spirit of competition and cooperation. Just to the United States, children and the house is a object being bullied. The yellow race, run slow, poor skills, a nerd, these white discriminatory evaluation in Chinese, he also failed to escape.

after this, in addition to studying, he also careers in sport, in the school basketball team in high school, confident, do not fear competition. At the same time, he also pay attention to study American football, basketball and baseball championship team is how to set up, how to enhance the combat effectiveness of all, rather than fight alone. “This let I learned a lot, also learn in Asia, most of the time all the sweep in front of the snow. The cultivation of the spirit of competition is of great help to my life.”

who later returned home to join the qiming, his first project investment, is is underway to list ehi. In 2006, he often to and from Beijing Shanghai, using the traditional airport car rental service, but because in a hurry the rental arrangement is changed frequently, eventually the company gave up his customers. In 2007, he began to use ehi.

when a hi main driving services, in the policy did not catch up with the market s, ehi, chairman and CEO zhang take risks, to bypass the labor service assigned single driver generation drive the requisition. Who soon found that orders received text messages, will inform the driver’s license plate number, mobile number and pick-up location, although is the driver of cooperation company, but still can do fine management through IT systems.

in January 2008, qiming investment ehi, when a hi has only 30 own a car, the other 2000 the dependence to mobilize social vehicles. Tung after on-the-spot investigation, it is recommended that a hi drive and drive business. That summer, zhang ran more than ten cities, ehi rapid expansion. The enlightenment and threw three rounds until its offerings.

in October 2013, tung confirm left qiming, during which he led star project such as millet, every guest and ehi, now joined GGV across both sides (GGV capital), focus on domestic and silicon valley startups, give priority to with electricity, O2O, etc.

GGV partner Jenny Jenny lee and tung’s colleague, now two people know more than 8 years, is his comrades and friends. “Over the years, Hans (English name) who he didn’t have any change, still full of enthusiasm for investment. nullnullnullnullnullnullnullnullnullnullnullnullnullnullnullnullnullnullnullnull

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