In the past few years, there have been the most in Shenzhen Tencent, and it is nothing to succeed with the rise of the instant messaging software QQ, and how many people have succeeded, but there are many people who have already played it - there is no shortage of intermittent memories. I have tried to buy Tencent in what the price is at the price, but eventually lost the arm.
A recent version of such story is this: In 2004, Chen Tianqiao, who was originally angry, found Tencent's hand, and issued an invitation of two companies. Chen suggested: I am doing chairman, you can do CEO, we will immediately rule the Chinese network industry.
But the horse replied: I don't have to cooperate with you, I will also call the Chinese Internet after two years.
This is obviously a recklessness. The two protagonists, the two protagonists, is as if the two poles of the Chinese network industry, Chen Tianqiao "is like the wind, the invasion is like fire", Ma Huateng "Xu Ribin, does not move as mountains". It can be between the answers, the latter is far a bottom gas.
If you are willing to "accept" such dramatic rumors, Ma Huateng will not be Ma Huateng. On the eve of the Spring Festival in the Spring Festival in 2006, he heard the matter in the exclusive interview with the "Global Entrepreneur" in the Spring Festival. He interrupts the reporter and the sound is not high but powerful. " No, there is absolutely no, I can't tell this, this is a biography. "
But this does not hinder the industry has formed a new psychological expectation. Among the many industrial sources, Tencent has been silent, passive to the supporting role that may be acquired at any time, which has become a strong and ambition. If the IDG's partner Li Jianguang does not regret the words of the praise: "If China's high-tech company is row, Tencent can definitely be able to rush to the top five in my mind." The IDG in Li was in 1999. Providing Tencent's first round of financing, if its 20% shares reserve, the market value can reach HK $ 3.5 billion.
Tencent's nearest transcript is: In 2005, it was profit of $ 9.6 million, while Sina and Sohu's profit were $ 9.1 million and $ 8 million.
If it is just a good profitability, Tencent will not be used in the industry to use the previous as an adjective - "terrible". In the eyes of the viewer, the huge energy of Tencent is that with the powerful viscosity of QQ, Tencent does not need to innovate, as long as it mimics the success of other fields, then guide the QQ user to the past, and he is very good. This absolute advantage is that all competitors such as Shanda or even Sina have a dusty - or say that some people think of Microsoft.
Wonderful QQ, or Ma Huateng?
"The city is transformed into the big king flag", so describes the Chinese network industry, not exaggerated at all. In this decade of history, it has changed several representatives: the earliest, "That person" name is Zhang Chaoyang, then Wang Zhidong, it has become Ding Lei for a long time, and it has become Chen Tianqiao in the past two years. Li Yanhong ... Every time it is more, the mark is still more than Xinxing, but a strategic transfer of an industry.
In this roller, the Mahua Teng is always a minimum role. During the Tencent, I asked for the evaluation of the person, but it is much like low-key, focus, cautious and other words - seems too flat. Even people who have paid attention to the network will also make such a feeling: optimistic about Tencent, because it has QQ, but this person is not too grasped.
First, it is necessary to explain, why is QQ become a focus of emphasion?
To a certain extent, the transformation of the concept is derived from the industry's cognition of its own industry. Previously, regardless of the US experience or reviewing China's status quo, instant messaging software is just a subdivision in many services in the network. However, when the Internet has created value in the ground, people have a thinking, and a simple wisdom got: Who can lock the user, whoever gets endless profitability. And this is the most good at Tencent. The total number of registered accounts in QQ is nearly 500 million, and the number of active accounts is 180 million. At the same time, the number of online people is nearly 20 million - data from CNNIC, in early 2006, China is only 110 million network people. That is, an average of 5 netizens, there is a QQ that is using QQ. It is more comparable that the grand online game "Legend" is the most successful, and the number online is only million. In the view of the analyst, relying on this Chinese network industry, "killer products", Tencent can almost enter any of the fields on the Internet, and obtain a sufficient level of stable user group, which means more income.
This makes people began to sum up the 7-year entrepreneurial career of Ma Huateng: one "permanent motion" before the first three months (maybe you should call it "Among Penguin") and then sit in the ground.
But from fairy tale to reality, there are several problems between: Why is Tencent's QQ instead of other web applications? Why do instant messaging software does not have a profitable way in the world's other markets, make money in China? Why is it in such a long period of nearly 40 software 觊觎 QQ, including Microsoft's MSN Messenger, can it still occupy more than 60% of the market share?
The answer is based on Ma Huateng. This is 35 years old, thin, and one day, it is clear that there is no pale in the outside world. Behind the attitude of fire, he controls Tencent like a competitive perfectionist. For those who make him dissatisfied, he will not cover up: the door to the door "is very bad", once the mailbox system laundered with QQ bundles "I don't want to use the second time", wireless value-added business lack of innovation Let him "very embarrassing" ... this is not satisfied, let him still participate in management.
Because of nothing diplomacy, he only divided the work into two parts: inside the "human problem", the exterior looks "future". The two phases are combined, and the result is that he will participate in the incubation of the new traffic line. And every day, he will look at a few rounds of IT-class websites. Once you find any suitable innovation, you will find a way to move to Tencent. In addition to work, there is almost no other hobby, even after marriage, he is still working hard to late night. He is even less enjoyable to express himself not to read: "Management book, knowing it is enough. Not because you know, how can companies become, or have to see what you do. "
The result of this effort is that Tencent has become one of the companies that are the most standardized companies in the industry, relatively operated companies. A person who is smaller than Tencent's emerging network company told reporters that Tencent's cooperation attitude is quite prone: they are not simple to use the other's resources, but will discuss very carefully, what is the value of this product? How can both parties work better?
In addition to the true color of the perfectism and the paranoid work, Ma Huadong is extremely savvy: the most prone to problems with the wind in the network industry, he can always maintain the thinking of universal wisdom.
- For example, when more and more instant messaging software selection and competitors realize interconnection, Tencent is not ready to follow the trend. Ma Huateng does not deny that the opening of the front-end software is not difficult, but the reason why he does not act is that the software of the QQ background is very complicated. It takes 6,000 servers to work together. Open is not a service, but may destroy their own stability. .
- Is it possible to promote the company by creating a personal brand? He said that in addition to personality, he maintains a low-key reason is "There is no such need": most of the network companies have to pay attention to enterprise users such as China Mobile, but Tencent directly faces the final consumer, the brand must be established in the product And service. Only Tencent needs to be recruiting in the university campus, the founder's throwing head is necessary. - For example, why didn't you go to Nasdaq to go public, Ma Huateng also has a choice: "In the underwriting consultant, six suggestions in Hong Kong, four suggestions in Nasdaq, three suggestions on both sides, doing my head is big The average P / E ratio of Hong Kong listed companies is lower than the US, but if I am the lead stock of Hong Kong? "
It turns out that this choice is good: Since the launch of Hong Kong on June 16, 2004, Tencent's share price has steadily raised from Hong Kong dollars to HK $ 10. Its P / E ratio is 36 times, which is much higher than NetEase and Sina in the United States. Even Ding Lei also sent him a text message and prepared to stir-fry the stock of Tencent. learner
In Tencent, there is such a saying: Ma Huateng may not be in Yang Yuanqing, but if the same capital will be found, the horse is great.
Although this judgment mainly built trust in the company's founder, it is also important that Ma Huateng's sensitivity to the market, the learning ability of similar products, is quite prominent in China's network. In short, he knows what to learn and know what improvements in what you have learned.
When reading in Shenzhen, Ma Huateng's "Idol" is a master programmer in UNIX and C language ("there is no Linux"), but he first showed the talents, but it is the movement of personal hobbies and market. Combined: In 1994, he also saw the software engineer of Runxun, he saw the computer board market, combined with its own interest, developed "Biller", once sold in Shenzhen's electronic market to the market.
The same logic, occurs during the birth of QQ. As a head of Runxun Development Department, Ma Huateng saw Ding Ling, which was previously known, has established Netease and first saw the results, which made him committed determination. At the end of 1998, the 27-year-old horse founded Tencent, and he launched OICQ after 3 months, is a turn version of the ICQ that loves to use.
About OICQ (that is, the future QQ) is associated with ICQ, is not focus, and it is important to differ between the two. Although ICQ is famous for a long time, it has no shortcomings: for example, all information of ICQ is stored on the client. Once the user is changed to log in, the previously added friends will disappear. In addition, it can only chat with online friends, and can only find friends according to the information provided by users.
At this time, the choice is enough to reflect the characteristics of Ma Huateng: If he is just a technician, maybe the most exciting, but the program to prepare a server-side information, but what he did, is the function of the front and rear ends User needs organically combined. Therefore, OICQ is born, it has offline message functions, and anyone can choose chat objects at the online user list, which even provides personalized avatar - until a few years, QQ's most powerful competitor MSN Messenger finally It has a similar function.
These seemingly subtle differences, at least in one aspect: When the Internet is fully rumored in China through Internet cafes, the information is stored on the server instead of the user's computer, so that OICQ has become a computer desktop. The essential software is almost almost every time the person from the Internet cafe is the first time to activate. This allows Tencent to have 5 million users less than one year - an ICQ has never been achieved in China.
The negative effect of this profit service is that Tencent lacks in the absence of a decent advantage of the lack of reference. As the user increases, the number of servers needed by Tencent does not grow. This will force Tencent to reduce the user's account. Although QQ and Sina, 8848 are directly copied overseas network models, but they are more limited to the way out of the field and e-commerce in the field, even ICQ, but it is ended in the United States. The biggest impact of this background is that Tencent financing is difficult, and it is difficult to judge your foreground.
Ma Huateng tried to take a price of 600,000 to sell OICQ, but can't find a buyer. Even in the end, Idg and Hong Kong Yingke's total investment of $ 2.22 million, the price is also quite high: 40% of the shares have been made.
2 million is not spent enough, even brought trouble. One of Hong Kong Yingkes participating in the investment two can be ambiguous, and seeing investment, in addition to being used to buy a server, I have almost seen the reward, and even Tencent has returned to borrow money, I don't know how to initiatives. This kind of unwilling to further invest, and unwilling to quit a few months, but fortunately IDG recommended MIH Group in South Africa, who has had cooperated with its MyWeb.com, so that Yingke can be in June 2001. The price of $ 12.6 million will sell 20% of its Tencent Holdings - it is very ideal at the time after the network foam is broken.
Regarding this entangled financing, Ma Huaten has a very implementation of the reflection: "The key is to try to figure out, each investor is beneficial to the company's development or hindrance."
When MiH entered, Tencent had almost reached a balanced point, which was a small miracle. Or, at that time, QQ has embodied the potential to convert a huge user group into income. However, it is undeniable that this potential is released, and it is still the ability of Ma Huateng. For example, in the network industry, he imitated the joint government to establish a member system to discharge the service area of free and paid users. "At the time, we thought that as long as 1% of users pay, it will be very considerable." Ma Huateng said, experiment, happy payer, there are several percentage points. When I didn't play the Korean online game, I saw the concept of personalized image in the game, and I immediately put my personal virtual image to QQ, which was later QQ show. In 2005, the third generation QQ Mall was launched, there were 180,000 days of sales. Of course, the most important decision is that the Mahua Teng has begun to try the possibility of wireless value-added applications within half a year after the investment.
By the end of 2001, Tencent has achieved the size of the RMB RMB, and in 2002, this Internet winter, Tencent's profit reached 144 million yuan. It was since then, indicating that it is interested in acquiring Tencent. But Ma Huateng said that it has truly talks with Tencent for many years, only Wang Zhidong is in charge of Sina. QQ overflow effect or potential crisis
After the foundation, just like most companies, Tencent began to expand. Unlike other companies, QQ community advantages make Tencent's expansion is quite smooth.
"When competition, we may save costs than the opponent," Ma Huateng does not deny the qq's overflow effect, although he also said that each product will face specific competition, if the specific product is not good, any promotion It is useless. If Tencent is in the face of MSN competition, I have used Tencent's RTX into an enterprise-level instant messaging market, but because dealers have violated regular charges, and the product itself has not absorbed QQ, the market reaction is plagued.
If we put the success of QQ and other services, we are on the side because of this problem, maybe there is a more appropriate problem: Where is the biggest crisis in QQ?
Just as it is clearly shown in the past two years, QQ user group, in fact, normal distribution in one interval: they are usually not old, and entertainment is the primary purpose of using QQ. These users may be transferred to other instant messaging software, such as MSN Messenger and Google Talk, with the changes of age and crowds. In this sense, Tencent's problem is similar to a children's supplies: children always grow up, is it important to choose you? Therefore, if Tencent has always been, it is obviously a continuous job in the future, it should be a new user source, and a new user source should be obtained, as well as the reasons for users who may convert users.
From this perspective, it is easy to understand why Tencent acquires the famous mail client software Foxmail in March 2005. Compared with QQ, the number of users in Foxmail is only 5 million, and in the network industry, the success of the acquisition user is very low. Ma Huateng really values, is still the accumulation of the Foxmail team in email technology: the number of new netizens every year is about 20 million, if some of them use QQ and Tencent's email, that is, I have gave them double insurance. .
So far, this acquisition is still integrated. For the original team of Foxmail, a conversion process is required from the client mail processing technology to the server. However, it can be determined that Tencent will definitely launch a large mailbox equipped in QQ. Although Ma Huateng has to admit that the previous Tencent's bundled mailbox on QQ is a failure, but "using it over 100 million" - If the next mailbox is excellent? " (Tip: There are too many websites that have not upgraded their mailbox systems from the use experience perspective.)
The other side of the coin is: Tencent's person consciously produces the big tree under the big tree. As human nature, it is really difficult to renovate. Fortunately, Ma Huateng said that he will keep this in this area: "If the leader is not aware of, we will trouble."
In the third quarter of 2005, Tencent's income of Tencent was 121.2 billion yuan, even considering that Tencent and China Mobile's cooperation in "161 mobile chat" change, it caused a lot of monthly income, which is still It means that it has passed the high growth period in wireless.
Although the wireless value-added business only accounts for about 30% of the company's total revenue, Tencent does not have to be in the current situation. However, its crux is not comfortable: QQ success, so that the SP traffic outside QQ is insufficient.
To this end, in January 2006, Tencent acquired the Joymax who made an advertising media putting a home. He believes that the biggest value of this team is what they really understand how to be the most accurate and effective promotion products: "You often see the text messages of wireless business on TV, in fact, this is very learning. For example, 1 million budgets, which Television, which geographic is most effective. They can make a clearer ratio than TV stations. "Layout
On the basis of a user, the Marcai's market is: "The services we do have to make Tencent's community different from other competitors. Now people use QQ, it is not a software, but a variety of software. Service. Others are hard to hit you all over. "
This is a representation that sounds close to the truth, but it is a reproduce of the history of the history: 2000 years ago, for Sina, Sohu, instant messaging software is a by-product, will not use all power to invest , So they do this in this area. When they truly realize importance, re-accumulating experience in this area, QQ's first advantage has been formed. Now, Tencent is in addition to other fields, how does it guarantee that they do not make a mechanism, or aware of the problem, miss the important market? The countermeasure of Ma Huateng is a king that he knows that he is a backward person. When judging a project, Tencent first looks in the long-term value for users, and then see if he is good at, and finally looks at the team. Usually, people who can alone are always lacking. At this time, there must be enough time to cultivate the team - such as online games and portals, Tencent has been prepared for two years, which is called "Getting Started" by Ma Huateng.
With the war battle, and the long-term business is full of patience, I solve even the inside of Tencent's internal Tencent: What should I do if the product line pull is too long?
"Everyone is not equal priority, it is very confused." Ma Huateng said, eating in a bowl, looking at the pot, then thinking to the field, this business is made, there is another business to raise, it is ripe Other business.
In December 2003, Tencent launched its own portal, when it was released, it was optimistic about it, or said that there were not many people who were still optimistic about the door concept. But Ma Huateng clearly wants what you want: A most practical reason is that he sees more and more value-added services (such as online album) cannot fully display the client, and the income of online advertising will grow steadily, this Not only related to income, but also a guarantee of higher price-earnings.
At the beginning of Tencent, I have done a portal, but in the case of not funding, I will give up quickly. But he has never forgotten this idea, and he often counts after profit, and a two or three editorial teams need much cost, and Tencent will bear. But true problems are still invisible know-how: how to ensure that when there is a major event, do it respond to Tencent? What are the contents of users? How do I pass the person who is the most needed? How to improve the impression of Tencent through news services?
It has been used for two years to become a "professional player", and the results that can now be: QQ portal is ranked fifth in all Chinese websites, second only to Baidu and three major portals.
In 2003, it was carried out in 2003 and is the exploration of online games. The horse acknowledged that in this field, Tencent's movements were relatively late. At that time, the nine cities had achieved good results, and more than 100 companies in the whole market hopes to put it through the online game to a bucket of gold.
Failed to see a circle, Tencent first chose the game from the Korean agent, no results, but accumulated to experience: one, Ma Huateng clearly, this must be able to control the progress, that is, research and development must do it yourself. Two, there is no foundation for large online games, so refund the next, starting with the chess game.
This startup project, he only used 4 people - this is now a very common incubator inside Tencent. The short-term goal is to introduce products in two or three months, plus traditional chess games, and combine with QQ, test the effect. For only one year, QQ games are directly related to the traditional hegemonic group in the field of the chess game, and the current online account is 18,800. The long-term goal is more ambitial: in the case of no game content, the frame of large online games is first, such as the support of large games in the backend server. With the launch of "QQ Fantasy", it basically announced the end of the accumulation period here. After entering the online game and the portal, in 2004, QQ has integrated music, online broadcasting and video service. Once the video spreads become the new mainstream of the Internet, QQ is likely to be a part of the preferred to watch the terminal; and in the second half of 2005, Tencent First enter the C2C e-commerce field, then Joint Google enters the search market - given it almost entering all mature network business, you completely reason to understand the QQ of Ma Huate as a network version of General Electric: Where to put the bet at any time It is expected to grow the fastest field.
What is the Top-3, five years after the three years? - Throw to Ma Huateng.
This will make the problem of most CEOs, let the horse lower, silent for a few seconds: "Three years later, online games and wireless are almost 100 billion, but online games should encounter bottlenecks. Advert 30 billion, Search is a few billions, and the search will be flat with advertisement. "According to the calculation of the number, he is the first and large online games of the company after 3 years.
At least for the value of the online game field, it seems that it has been greatly transferred even after the online game hegemony is grand. After seeing the development bottleneck that may encounter this market, it has launched a large shift. But Ma Huaten is more happy to turn a small bend: find a small policy restrictive game area, such as music online games, e-sports, etc. Ma pointed out that although there is no extremely successful product, because of the low cost, long operating cycle, its profit margin, but should be higher than the average of large online games.
Ma Huateng admits that if it is currently the largest bottleneck, it is "good talent is always lacking." This forces him to plan with a compromise, accumulating to a certain extent, let's take a look at it. To some extent, Ma Huateng's work is to find those who can make "penguins" to have a day in another winter.
