When I was a pen, I suddenly remembered, "Baidu" is originally a bit: China's network industry is a pot of 99 degrees of boiling water. "Baidu" is to heating the key one.
This is the profit.
Li Yanhong analyzed several profitable Chinese network companies, found that they did not engage in "people's tactics", but use technology to reduce the regular investment of the website: Yahoo only developed and maintained a website directory system, it Out of the web search, Yahoo's finance is one of its most successful services, and its earliest imported the stock quotation and real-time financial technique of Reuters' Tibco's TIBCO. EBay is a model of global e-commerce, which can be profitable because it does not need to be delivered, there is no stock, and even the transactions of money and goods are not involved. There is also a network portal, which has been profitable for 6 months. The content and services it provides is automatically generated, and it is hard to intervene!
The artificial cost of the Chinese website is too high.
Baidu is to solve this problem with their technology, while making its partners' websites better.
The current book is currently the search engine. Baidu's introduction materials said that Li Yanhong is one of the best three authorities in the world's search engine.
Li Yanhong has a confidence in their search engines. It is difficult for competitors to catch up. "At present, the biggest two domestic portals are all our engines, Sohu has used Baidu, two months, visit Double up. "
Silicon Valley and the 21st century is also Baidu.
When the Internet is difficult, Li Yanhong and his partner Xu Yong come back. They think that they are back from behind, it is time, because the Chinese website is generally not profitable, because difficulties have enhanced power. The Internet industry will not be so swaying, there are so many Internet people, it must have a chance, the key is who can grasp
Li Yanhong: From our company, it is mainly to make one thing, and the financing is just a means. From us to our first money, there is a first person, there is such a concept: not merged, big hands and money, but do one thing as possible in a short time, there is the Internet A little contribution.
Since April this year, although the Internet is not booming, we have a good operation, and many of the goals of the first financing person, but also in advance.
The Internet industry will not be so swaying, there are so many online people, it must have the opportunity, and the key is who can hold it.
Risk investment is still rich, or to vote, but it is only a certain amount.
Reporter: When is your money arrived, the first?
Li Yanhong: The first is December last year.
Reporter: There is a bigger recently?
Li Yanhong: It was early September.
Reporter: How much is it?
Li Yanhong: A total of more than 10 million US dollars, this time is 10 million in early September.
Reporter: Yes, you have to be more integrated, didn't get it, or is it 1 million?
Li Yanhong: 10 million we can't use it.
For the stock market, it is very difficult to predict that two or three years is very difficult.
Reporter: Now some people say that strategic investment is healthier than risk investment, because it is concerned about the company's long-term development.
Li Yanhong: An entrepreneurial company starts to listing, it is necessary to divide a few rounds of financing, usually - introduce strategic investment in the previous month before the listing. Because early investment usually accounts for large stocks, premature introduction of strategic investment will affect the development direction of the company. For example, I said to be a mobile phone. Of course, you want your technology to develop in the direction of your mobile phone, but your technology may be more suitable for the development of the notebook, then you can't the company's development direction. Reporter: Then you have to go public?
Li Yanhong: Yes.
Reporter: Go to the United States.
Li Yanhong: Yes.
Reporter: I have heard an estimate that in least two or three years, the US stock market will not be very optimistic about China's Internet companies.
Li Yanhong: I think it is very difficult for the stock market. It is very difficult for two or three years. It is not good for two or three months. This is the most important thing? In January of this year, who will estimate this situation in April? As long as a company's development is healthy, you can see that its income is growing, the market share is constantly expanding, and at any time, it can be listed as long as you want to go public.
The reason why Nasdaq closed to China, because there is no family in Chinese companies, or have not proved that it has, I believe there, but more than one, but has not been expressed.
We are a technology company with its own intellectual property. This technology is not only in China, and it is also leading in the world.
Reporter: In the venture investor, you are not optimistic about online companies, why are you paying attention?
Li Yanhong: Because we are doing one thing. We are a technology company with its own intellectual property. This technology is not only in China, and it is also leading in the world. And our competition is actually a company in Silicon Valley and other other places in the world, we have no problem in competitiveness.
Because this technology is more difficult, there is a certain technical barrier, not to say that everyone can do it.
In addition, this technology is a basic technique in the Internet era, which is a technology that needs to be taken.
Reporter: Is it what you said?
Li Yanhong: Yes. According to people's current understanding, search engines may not be the most important. But if we stand high, what is the nature of the Internet?
It is free flow and direction flow of Enable information. Any Internet-based activities, e-commerce, ICP is also, or organizational information or delivery information, or promotes effective flow of information.
For example, e-commerce, it first wants to quickly find things you want to buy, the second to pass the payment information, all the flow of information.
Search is to help information flow. So it is a very very basic thing. Its importance is like the operating system in the PC.
Reporter: For those who often need to find some things online, they have never ignored the role of search engines.
What is the difference between this search engine and others?
Li Yanhong: Because our competitors are abroad, there is two main points in Baidu: First, the understanding of Chinese culture. Because the search engine is unprinted to be a technical phenomenon, there is a cultural and language factors. In this way, in the face of China's networkers, they have some differences in foreigners.
For example, I said to the Chinese name. Two words people name and three words of words. A lot of search engines, as long as the first two words and search words match, it thinks it is related, take it out. Then our system, if you entered two words, we found the name of the two words rather than three words.
There is also support for GBK, using the People's Daily website is GBK.
Similar to such things, foreign search engines can't do, and basic technical framework, we are half a catty with foreign counterparts, almost. We can also analyze what users have checked today, which are more satisfied, which are not satisfied. These things, companies in foreign countries, just want to do, I am afraid it is not so easy.
Our second advantage, this technology we currently provides, not based on software, is provided in the form of service. In this way, as a local company, the advantage is very obvious: If the service has a problem, who is our customer looking for? If he picks up the phone, you can play my mobile phone directly, I can respond now.
If you find a foreign company, it is impossible.
Sohu is using our two months, and the search in the search has doubled. Before using our previous, long-term
Reporter: Your service object is mainly for Internet companies?
Li Yanhong: It should be said that some Internet companies and companies who want to go to the Internet, say some traditional industries, and hope to access the Internet, I hope to provide some services through their own websites.
Reporter: Almost all sites now have their own search engines, what is your difference between your relationship with others?
Li Yanhong: Sohu use is our search technology, Sina is also. Sohu is the earliest thing to start this concept with search engines, but the concept of search engine, China and the United States are different. In China, many people think that the website directory is the search engine. In fact, the directory is only hired some people, collect, and classified some well-known websites. The real search engine should be able to provide full-text search, each word on the Internet, each word, can be retrieved.
Sohu he made a directory system, it has its own editor, updated, added every day. Sohu has never developed a self search engine. It used to use a US company's products, this product was sold later by a Japanese company, sold to Sohu.
But this product cannot be Hand Part database and face a large number of visits, and the reaction speed is very slow. So they used Baidu before, in fact, it was very painful. Because it is very famous, this thing has hindered its development for a long time.
Sohu is using our two months, and the search in search has doubled. Before using our previous, there is no longer rise.
Reporter: The problem is how much it can give you? The website is relatively limited, and there will be fewer and fewer websites in the future.
Li Yanhong: This is determined by our so-called business model. We offer services, which are charged in accordance with the amount of use. For example, electricity, and hotel use electricity is very powerful, maybe a hundred thousand pieces of a month, the family may be dozens of dollars, not to say family portfolio, our customers become less.
Reporter: Because of the habit of occupation, I often find something. Now I use Sohu, Sina is good, still can't be satisfied.
Li Yanhong: What are the main aspects?
Reporter: That is to say. For example, I know that about Baidu, at least 200 things, but I found only four or five.
Li Yanhong: You can try it, you should find 200 or more. If you use the current Sohu or Sina, use its webpage search.
I just guarantee that it is 6 months, this market does not come.
Reporter: You just said that your technology has exclusive colors, have some barriers? I feel like there is no barrier.
Li Yanhong: Like the identification method of Chinese people, we applied for patents. Once the patents ratified, others can't use it, this is barrier. In other respects, in addition to the classification of the search term, because our competitors are abroad, he does not understand Chinese culture; with domestic companies, we have a large number of visitors, the big data volume is also updated, there are Very big advantage.
The amount of big data, large visits, real-time, these three must be combined, technical difficulty is very high.
Reporter: Silicon Valley technology, China's culture, you combine the two, so barriers have been produced.
Li Yanhong: Yes.
Reporter: Many Internet companies are closely related to abroad, introducing Silicon Valley technology into China, you and them I am afraid that there is not much gap. They can find a technology and your almost company to join, or simply buy the permissions of people in China. How do you keep your barrier?
Li Yanhong: Software should be like me, actually a very complex system, to introduce it to China's organic combination, it is not easy to do, even if he spends a year, there is still at least lastward We a year. If you have a year in technology, then you are almost no market.
Don't say a year, I just guarantee that it is 6 months, this market does not come.
In fact, since 1995, I was almost a year, and I saw that there was an opportunity to see the opportunity of people like me.
Reporter: When did you go to the United States?
Li Yanhong: At the end of 1991.
Reporter: How did you remember now to return home business?
Li Yanhong: In fact, I will contact the Internet in the United States. When reading, the teacher is arranged, and it is sent to you through the Internet. You have written it, and send it to the teacher. He has a program, and the job is going to deduct points.
I have read the two and a half years, I am ready to read a doctor, and later I feel more opportunities, I haven't finished reading, I have a master's degree.
After I came out, I went to the Tao Jones. That is in 1994, it is Web that started hot, "Wall Street Journal" to do his own website, so I have entered the Internet. Do it is its real-time financial news search system. This now "Wall Street Journal" is still in use.
After 3 years and a half, I went to Silicon Valley, joined Inforsek, which was a very famous search engine. INFORSEEK has been today, and it has always been the search technology I developed.
In this sense, I have not left the Internet, from the early days of its commercialization, I have been doing this.
Reporter: I can imagine that with Zhang Chaoyang's background, then I will come back to the world, you have a technical better than him?
Li Yanhong: Anything has a timing problem. In fact, from 1995, I will return to China, almost returned once, and I have to look at it every time, there is a chance to have a chance for people like me.
I remember that in the early 1990s, for people who were educated in the United States, there was an opportunity to make a representative of multinational companies. People who are willing to recruit, mostly traditional enterprises, like chemical, mechanical manufacturing, they have matured in the United States, there is nothing to develop. I have learned these things at the time, the Internet, there is still no level in China.
After 1995, I saw that the Internet began to form a climate in China, so I talked with the relevant people, like Zhang Chaoyang, Yaxin's Ding Jian - I also contacted Tiansheng. In the early days of the Internet, I have talked to them, but also to see any opportunity. At that time, the reason did not come back because I feel that China doesn't need this high technology. Everyone is doing concept - Sohu is in theory, it is not a technical company. So I came back, the advantage was not reflected, because my strengths were in technology, and the market, the hype didn't feel there was no advantage.
I am back is not too late. Everyone is now very difficult now. When I encounter difficulties, he will think, how can I do better than nothing, how can I survive? Where is the way? To improve your own technology.
This just carses Baidu's targeted market.
We now go to our target customers, we can provide you with technology, we can help you improve your visit, speed up the reaction speed, and even help you re-examine your rationality of your online architecture.
In this way, Baidu was established less than 10 months, and there were less than 6 months in things, and the first largest portal of China was taken down. Time is still good for us.
Reporter: Maybe it is a good time, but your explanation seems to have a room for discussing. You said that you are not good at hype, but Zhang Chaoyang is very stupid; you said that you should take advantage of the long, Ding Lei, Wang Zhidong, including Ma Yun, he is not alone, but there are several brothers, these people are the technical parties, Ding Lei started home, Isn't it the earliest email?
Li Yanhong: Yes.
Reporter: Then we are more than, Ding Lei is said to have 60% -70% of NetEase before listed. In the current atmosphere, can't you have such a big share?
Li Yanhong: Should look like this: The share is too large, not necessarily a good thing.
Reporter: Why isn't it a good thing?
Li Yanhong: If your personal share is too large, it means that you have not financing early. This means that you don't get some necessary support in the early days, compare the support of funds, support in the development direction of the company.
Therefore, Netease is transformed. At first it was doing technology, do a free mailbox. Later it turned to the road to the portal, this thing is not right, now I don't say it. If it introduces venture capital earlier, maybe it can take less detours, maybe it's high.
Reporter: If you come back at that time, you can get better things better than your technical background, isn't it your world?
Li Yanhong: This is possible. Everyone has certain ability to withstand risks. Maybe I will be better than him in 1995, but the possibility is greater, it is a long time, I found that there is no one to understand this, and finally failed. I want to be similar to those such as Ding Lei, there may be more than him in China, it is him. There are a lot of uncertain factors in this.
At that time, I came back, I feel that there is still something that I have learned in the United States. In fact, I will actually benefit from 1997 to 1998. When I joined Inforsek, it was more than 100 people, and I came out to more than 2,000 people. I have entered an early development of the Internet, and it is equivalent to participating in the process of its entrepreneurship and development. I understand how an entrepreneurial company is working, I have learned a lot.
So I came out, I feel more practical. Also in Baidu, it is personal, and there is a smaller risk.
Moreover, the Internet is still in the early stage of development in China, or is quite immature. That is, the opportunity is quite quite quite. It is not said that there is no chance to miss the opportunity. In fact, Baidu is likely to develop better than early Internet companies.
Reporter: Do you have more classmates in the United States?
Li Yanhong: A lot.
Reporter: How many companies like you have this company?
Li Yanhong: So far, I will.
Reporter: Why?
Li Yanhong: I have no doctor, I will enter the industry directly, so that I can enter the industry. I will take the green card. I entered Silicon Valley. Leaving Silicon Valley. They are now doing in Silicon Valley Internet companies, and they are also very successful, at least a million dollars. (Our reporter Tong Chen)
("China Economic Times" 2000-11-02)
