My Age of Investment

Chapter 1615: Online Ride Hailing Pioneer

“Let me use an inappropriate analogy. The private car market you are looking at right now is like a high-end Chinese restaurant. It looks high-end and classy, ​​but in fact it is just a niche business.

 What you should really be is the KFC and McDonald's of online ride-hailing, not the Xinrongji of online ride-hailing. "

Zhou Hang, who is thirty-eight years old, was sitting upright on his chair like a primary school student, listening meticulously to Xia Jingxing's "brainwashing" across from him.

As an "entrepreneur veteran" who has been selling audio in shopping malls in the 1990s, he is much older than Xia Jingxing in terms of seniority, but he does not dare to put on any airs in front of the latter.

 Because he made a special trip to ask for advice today.

As early as two months ago, his second entrepreneurial project "Yidao Yongche" received US$10 million in investment from Vision Capital (China), becoming a member of the well-known Vision Group in the world.

After being cast in for so long, he has yet to meet the big boss behind the scenes, so he took the time to make a pilgrimage today.

Looking at Zhou Hang, who was slightly fatter and always had a smile on his face, Xia Jingxing couldn't help but keep destroying people's confidence in starting a business. He paused and said, "Of course, the online ride-hailing market around the world is currently in turmoil. The wilderness is in urgent need of cultivation.

 It will be difficult for you to break away from the private car market, which has already carved out a small space, and enter the online car-hailing market for mass travel. "

Hearing this, Zhou Hang waved his hands quickly: "No, no, no, Mr. Xia, I gained a lot from your inspiring words today."

 After saying that, he sighed again, "To tell you the truth, I was always confused when I chose to start a business for the second time.

At that time, I had just graduated from Cheung Kong Graduate School of Business and accepted a lot of so-called new ideas. All I could think about was subverting traditional industries.

Thought about making digital payments, using text messages to make small payments, and completely replacing wallets;

I also thought about doing a mobile car wash. I sent a text message code, and the car wash guy brought a set of dry cleaning equipment, pushed it over and washed the car...

 The more you think about it, the more confused you become.

 When I finally decided to build Yidao Yongche, what I thought was that we must firmly combine taxi-hailing services with mobile Internet services to completely solve the service pain points of the traditional taxi industry.

 But after really doing it, I realized that this industry is not as simple as I thought.

 We surveyed many taxi drivers and found that they are not interested in taking orders on their mobile phones at all. At the same time, they are also worried about any safety risks and whether it will be illegal. "

Looking at Zhou Hang who looked annoyed, Xia Jingxing said with a smile: "So you decided to temporarily develop the private car market, attract some drivers to register through higher unit prices, and then extract high service fees to maintain the company's operations."

Zhou Hang nodded lightly and acknowledged what Xia Jingxing said, because this is the truth. The work of developing and maintaining a taxi-hailing software is not easy. At the same time, it also has to develop the business network to the first and second tiers such as Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Chengdu, Tianjin and Wuhan. Cities require a lot of money to support them.

He felt a little unsafe if he relied solely on financing. It would be better if the business could generate its own blood.

Xia Jingxing didn’t say anything. He felt that Zhou Hang’s strategy was right or wrong.

 It is undoubtedly a good quality to be able to consider the long-term development of the company and not rely on financing.

What's wrong is that the other party lacks Internet entrepreneurial experience and is still operating the company based on traditional experience in the past, which seems a bit conservative.

 It seems that in the previous life, Yidao Yongche was an industry pioneer and an outstanding startup company that launched taxi-hailing services in Beijing one month earlier than Uber launched taxi-hailing services in San Francisco. It is not unfair to die!

 Why is it not unfair?

 The development speed is too slow, and the first-mover advantage has been wiped out by latecomers.

You must know that Didi and Kuaidi were officially established in 2012, that is, next year, and Uber did not enter China until 2014.

Yidao Yongche was established last year and began to provide car reservation services in Beijing in September of that year.

I have not been idle this year. Before the financing in July, I expanded the service network to Magic City, Pengcheng and Yangcheng, initially covering the four most prosperous and advanced first-tier cities in China. There are plans to expand the service network in the second half of this year. Further expansion to several second-tier provincial capital cities.

 It seems that the development speed is good, not too slow.

 In fact, this is not the case. Compared with the group of colleagues who are chasing after them like crazy dogs, this speed is too slow.

 Without huge user and order growth data, you won’t be able to get the next round of financing.

If you can't get enough financing, you will be slow, step by step, until you are beaten to death by companies that can run faster and raise funds faster.

Xia Jingxing looked at Zhou Hang and asked, "Have you ever heard of Uber?"

 “I heard it, it seems to be an online ride-hailing startup company in the United States.”

 “They’re landing in Normandy next month!”

 “Normandy landing?”

Zhou Hang almost didn't react. After he came to his senses, he immediately asked: "They are going to enter the European market so soon?" "Yes!"

Xia Jingxing sighed in his heart, this is the gap. Uber has only been developing in the United States for a year and has initially mastered the model. It is thinking of going to Europe to compete in Europe.

As for domestic Yidao Yongche, it has not entered second-tier cities, and it is still a private car service.

Of course, this is not only a matter of structure and vision, but also a gap in national strength. It is much easier for Americans to do cross-border business than for Chinese.

Zhou Hang was stunned for several seconds before he came back to his senses. Then a trace of shame appeared on his face, and he realized the gap between himself and outstanding American entrepreneurs.

While I am still feeling proud that Yidao Yongche dominates China’s first-tier cities, some people have already begun to expand the global ride-hailing market.

Why is there such a big gap between this person and other people?

"Mr. Xia, I..."

Xia Jingxing waved his hand to interrupt Zhou Hang's speech, "Don't belittle yourself, at least you are the first one in China to think of online ride-hailing, and you are already ahead of many people.

 The only thing you lack now is speed!

 In the future, will foreigners knock on your door, or will you go out to sea to earn money, pounds, and euros from foreigners? This depends on the development speed of Yidao Yongche. "

 Zhou Hang nodded heavily to express his understanding.

Xia Jingxing’s words today helped him a lot and really woke him up.

 The reason why he formulated a steady development strategy for Yidao Yongche is partly because of path dependence.

For example, when he last started a business selling speakers, he had a very strong competitor, Dazhong Electrical Appliances, which mainly sold household speakers. So he changed his strategy and chose a more professional, or narrower, market, and started selling professional-grade speakers. .

After changing his strategy, he quickly tasted the sweetness of dominating one area. Although the sales volume of professional audio products was small, he could not afford the high unit prices and high profits. In 2002, his audio agency company achieved "a net profit of one per hour." Ten thousand yuan" level.

 After founding Yidao Yongche, he still wanted to use the old method and focus on the special car market.

 But Xia Jingxing reminded him that a small and beautiful business might not be suitable for today's Yidao Yongche.

 In other words, Yidao Yongche can be more ambitious and take bigger steps.

 After all, Yidao Yongche does not work alone now. It has a back-up, and the thigh in front of it is extremely thick.

As if he had guessed what Zhou Hang was thinking, Xia Jingxing promptly added: “You don’t have to worry about money, your main task is to find ways to cultivate and expand the online ride-hailing market.

Whether it’s wooing taxi drivers or subsidizing users’ rides, as long as you have an idea for a big business, let me use it. "

Mr. Xia has already said this. What else can Zhou Hang say? He is too busy to respond.

Children can be taught!

Xia Jingxing smiled and nodded. Judging from Zhou Hang's appearance, he must have listened to what he said.

If the other party follows the strategy he has formulated, then he will not mind helping the other party to secure his position as the leader of China's online ride-hailing services.

 As for Chen Wei behind, who cares if he dies?

 The gap between people is not as big as everyone imagines. There is only such and such in an era, but there is no such and such era.

The reason why Zhou Hang left the stage sadly in his previous life was just because he fell into the wrong trap and fell in with an unreliable thing like Boss Jia.

Chen Wei has a good fortune and can also play the seesaw. The two giants take turns serving him, and it is difficult to lose.

 Having his own support for Yidao Yongche, he is not afraid even if two horses bet together on Chen Wei.

 When it comes to burning money, he has not been shy.

Just when Xia Jingxing was happy that he had planned the future of China's travel market, a sudden news interrupted the conversation between him and Zhou Hang.

 After sending Zhou Hang off in a hurry, Xia Jingxing quickly dialed Liang Mengsong’s phone number and reassured him:

“Old Liang, I have received the news, don’t worry, I will find a way.

This dog's Bay Electric, one of the bays, can not be born again, and it really follows us.

 Once this level is passed, there will be plenty of ways to deal with these filial sons and grandsons. "

 (End of this chapter)