2018 Business Leaders New Year Forum Fellows Series Report ㉕
Dangdang Co-founder and CEO Li Guoqing has confirmed attendance at the “New Change and New Beginnings & Mdash;— 2018 Business Leaders New Year Forum hosted by the Business Media Group. On January 25, 2018, he will give a keynote speech in the search for the variables of the times.
Time is like water, it can smooth the edges and corners of men’s character, but it does not destroy the blood of men’s hearts; can take away the woman’s youth, but can’t erase the wisdom of women’s life; perhaps, the meaning of life Yes, accumulate a long stream of emotions in the time, and slowly approach the ultimate goal of life in the bottom of my heart.
One is a brave copper tooth, one is an elegant and wise lady & mdash; — Li Guoqing and Yu Yu have gone through more than a decade of marriage, and have gone through the long journey of Dangdang. . Dangdang’s story is actually a period of time, about blood and struggle, and love.
Twenty Years of Heat and Blood
Li Guoqing is an authentic Beijing man. In 1983, he was admitted to the Department of Sociology of Peking University with the first place in Beijing. Beijing, Peking University, and sociology, the three elements of this life are intertwined, and they have shaped the distinctive personality of his fingertips.
The young Li Guoqing had a bloody daring to break the old rules. At the time he was at Peking University, he was the vice chairman of the North University Student Union. He often swears for the students. Today, Li Guoqing’s bloody and mavericks have not diminished with age and experience.
After Dangdang’s online market in December 2010, Dangdang’s CEO Li Guoqing, who was unobtrusive on Weibo, quickly became the most sought-after entrepreneur. This man who has been low-key for many years, like Dangdang online market, is like playing chicken blood & mdash; — self-exposed former girlfriend, war “Da Mo female, dead Jingdong, angered Baidu, Alibaba, stunned a word is not amazing death Endless party.
Just two days before the Dangdang banquet for the Morgan Stanley team, Li Guoqing fired on the Weibo, in a period of “rock and roll”, and the price of the Dangdang.
Behind the fierce battle, he broke the tacit understanding between IPO companies and foreign investment banks with extremely extreme words, bringing people a series of precious thinking & mdash;— communication skills between enterprises and capital, China’s capital market The rise of the local investment bank ……
In fact, foreign investment banks have almost monopolized the channels of Chinese companies’ overseas IPOs, so Chinese companies’ overseas IPOs have long suffered from discounts and are unfamiliar and complicated. The rules of overseas capital games, Chinese entrepreneurs with grassroots and barbaric growth, often seem to be at a loss, and have to be led by foreign investment banks. After the IPO, the two sides, in order to maintain the public image, even if they are dissatisfied, will also be whitewashed and toasted.
The reporter asked Yu Hao: What do you think of her husband’s Weibo? Her answer is straightforward: nothing to look for. And finally let the dispute return to the calm person, or Yu Yu. In the face of public opinion, she played 50 boards each time, saying that Morgan Stanley had apologized and said that Li Guoqing’s words were not correct, leaving both sides with a step.
In Dangdang’s business decision-making, the couple have always been a combination of swords and swords.
Flowers on the trash
Before Li Guoqing went to the United States to meet Yu Yu in 1995, his life and business were quite bleak.
This year is the year when Chinese Internet leaders have embarked on a journey. Zhang Chaoyang, who is the same age as Li Guoqing, received a Ph.D. from the Massachusetts Institute of Technology. Ma Yun, who is still a teacher, began to try his own business and founded a translation agency called Haibo. Li’s northern master Li Yanhong was at that time. In the tide of studying abroad, I went to the United States to study for a master’s degree in computer science.
At that time, Li Guoqing found a few friends in the publishing industry. He rented a basement of the General Staff in Xiaoxitian as an office space, but his business has not been done much. Carrying millions of dollars in debt, going to the book club everywhere, and getting through the distribution channels of Xinhua Bookstore,
The former leaders Zhou Qiren and Lin Yifu, after hearing about Li Guoqing’s experience, sighed: “> The National Day is so talented, let’s go ahead in the basement, how can I go to the basement to start a business? Many of my classmates and friends around him, not the vice president of the state-owned enterprise, became a senior government official. When everyone gathered, in front of friends who drove a high-class car, Li Guoqing looked gray and self-deprecating. Even the first love girlfriend who started a business together eventually left him and said that he was dancing on the trash.
In 1996, Li Guoqing was sighing with anger: I was going to make a splendid flower on the rubbish! With the chief representative of a multinational company in China, I was sitting on the top floor of Guomao in a premium car. Dream, Li Guoqing went to the United States to look for opportunities. In the United States, “the chief representative’s dream has not made any progress, and he is ashamed to say “small business is frequently mentioned by friends.”
The turning point of fate appeared in a dinner arranged by a friend, and Li Guoqing met Yu Yu. At that time, Yu Yu had an MBA from New York University and started a financial consulting company. He has already found a world on Wall Street. After five months of acquaintance, Yu Yu and Li Guoqing got married and gave up the cause of Wall Street. Together with her husband, she returned to Beijing to manage the publishing company.
You are Sun ZhongShan, I am Soong Ching Ling
Recalling the feeling of meeting for the first time, Yu Yu said: “I don’t know why, I think of Guo Kaimin in the movie “Love in the Mountain”, he is smart and assertive. Young man. I told him how to raise money. He took notes carefully and I was happy when I saw it. That note paper, Li Guoqing saved to this day: “At that time, Yu Yu talked about the talents and insights shown in the spit, shocked me, only that she was really a talented woman.
At that time, in order to further understand the relationship, Li Guoqing also asked a friend: “I am in love with Yu Yu, do you say she will go back to Beijing with me?” The friend answered with surprise: “Daughter, what do you think, do you know who is chasing Yu Yu in the United States? They are all pursuing her with a private jet.
Li Guoqing was a bit discouraged. However, Yu Yu’s later answer made him happy and moved to this day. Yu Yu said to him: “National Day, you are wrong, my money is more than you. But you are the one to be assisted in my life. If you are Sun Yat-sen, I am Soong Ching Ling.
After Yu Hao and Li Guoqing returned to Beijing, they found that her husband’s book publishing business was not warm and difficult to grow. This made Yu Yu quickly associate with a year ago, an online bookstore called Amazon, which swept the United States at an alarming rate. She has also experienced this convenient online book-buying method. So, she asked Li Guoqing to open the Amazon page on the Internet: “We bought books abroad.”
Li Guoqing, who has a keen sense of business, quickly discovered the great superiority of online bookstores— in traditional publishing channels, there are many links between publishers and readers, and the Internet has established both Direct contact between. “This is a revolution in the distribution of books!” [p>
In October 1999, with $6.8 million from IDG, Softbank and Luxembourg Cambridge, the model of success in the United States was borrowed from Amazon. Li Guoqing and Yu Yu launched Dangdang. Interestingly, the husband and wife respectively have a unique title —— co-president, the specific division of labor, Li Guoqing, who is experienced in the book publishing industry, is responsible for the internal operations of Dangdang, while Yu Yu is responsible for capital operation and administrative personnel. .
Ten years of time, once on the list
At the moment when many companies successfully listed on the NYSE and Nasdaq, the founders of the company could not help but shed tears of excitement. Li Guoqing and Yu Yu did not cry because they knew that the growth of wealth was not caused by overnight listings, but that the team was paying bit by bit, in exchange for the increase in monthly sales and the increase in profits.
It’s not the result of the summit, but the process of going over the mountains.
Once, Li Guoqing and Yu Yu took their son to Sina’s president Wang Yanjia to play. After returning, the son said to Li Guoqing: You are not as successful as Uncle Wang Yan. You see that you only have 600 people. Uncle Wang Yan’s Sina.com has 2,000 people.
The standard for sons to measure success is childish. However, in the heart of Li Guoqing and Yu Yu, what is the real success of life?
In 2004, Amazon opened a $150 million acquisition of 70% to 90% of Dangdang’s equity, and even raised 1 billion. The dollar can be talked about. Wang Yan advised the couple: “How are you so stupid, $150 million, hurry to sell it!
Yu Yu once had some shakes, and felt that Dangdang had little room for future. Li Guoqing firmly told his wife: “I am well aware of the sales performance of Xinhua Bookstore, a major city in the country.” According to our annual sales growth rate of 100%, it will reach 1 billion yuan in 3 years, then the market value will also be 300 million US dollars.
After convincing Yu Yu, he explained to the shareholders that the international giants are absolutely not more efficient and more familiar with the market. How do you sell books in the Internet in China, do they really understand?
At the crucial time, the shareholders and the couple stood together and firmly said: We will put the treasure on both of you! In the end, Dangdang rejected the news of Amazon’s sky-high price acquisition, which shocked the domestic Internet community.
The Amazon that hit the wall turned to $75 million to acquire the rival network of Dangdang. Later, the fact is that Amazon replaced the former local team with the international management team. Because of the dissatisfaction and strategic misconduct, it was gradually left behind by Dangdang.
Someone asked Li Guoqing, what is his ideal Dangdang? Li replied, an online retail empire that sells billions of dollars a year. A key bottleneck is that the total domestic book market is only 70 billion yuan.
In 2005, the couple spent eight months secretly meeting more than 80 executives from retail companies such as Wal-Mart, RT-Mart and Watsons, and dug many of them to Dangdang. Over the years, through these talents, in addition to consolidating the dominance of online books, Dangdang has also attacked digital products, maternal and child supplies, home, apparel and other fields, pointing to the department store market with market capacity of several hundred billion yuan.
In fiscal 2010, Dangdang’s net revenue was 2.28 billion yuan, a year-on-year increase of more than 56%, and net profit reached 30.8 million yuan, an increase of 82%. After the listing, Dangdang is moving towards the goal of both couples —— online Wal-Mart.
When Dangdang was listed, Li Guoqing originally planned to buy an SUV, but he was vetoed by Yu Yu. The reason was that “life should be low-carbon. Now this family of three still shares a car. Usually, Li Guoqing is rushing to the subway to go to work.
In some entrepreneurial forums, the entrepreneurs who participated in the meeting only heard that Li Guoqing was also there, and they were somewhat embarrassed. Once in YunnanOn the spot, Li Heqing and Li Guoqing questioned Wang Shi and Zhang Ruimin. The two big men were speechless and the scene was in a short embarrassment.
There is no shortage of deaths and sorrows in this madman. People are stunned and more questionable: What is his innermost thoughts?
Some people question He can influence other people in a positive way. For example, Kai-Fu Lee has become a life coach for young people. Why do you have enemies on all sides and make troubles?
However, if criticism is not free, praise is meaningless. In this era, Li Kaifu is needed, and Li Guoqing is needed. Only the latter must have a strong heart to bear the loneliness and misunderstanding brought about by criticism.
Li Guoqing said that this state is very good, unless Yu Yu wants him to change. Because he needs her love.
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