After losing 12 billion yuan in three years and buying 300 million yuan in projects, he was ridiculed by the entire online community, and now he has made a fortune without a sound

Tech 2023-11-02 12:12:11 Source: Network

Before reading this article, please take a look at the hard work of the old officials and click on "follow" to make it easier for you to discover more beautiful content and to discuss interesting content with you. Thank you for your support!!The literary talent of Tang Dynasty is soaringEditor | Tang Wencai FeiyangChen Ou, thisKnown as a genius boy since childhoodPeople who once became ChinaThe youngest CEO of a listed companyHe was worth as much as 12 billion yuan, but the good times did not last long

Before reading this article, please take a look at the hard work of the old officials and click on "follow" to make it easier for you to discover more beautiful content and to discuss interesting content with you. Thank you for your support!!

The literary talent of Tang Dynasty is soaring

Editor | Tang Wencai Feiyang

Chen Ou, thisKnown as a genius boy since childhoodPeople who once became ChinaThe youngest CEO of a listed companyHe was worth as much as 12 billion yuan, but the good times did not last long. He quickly fell from the peak to the bottom, not only evaporating his huge wealth, but also being ridiculed for a time.

Just as the outside world thought he was already in a state of decline, Chen Ou relied on his decisiveness and perseveranceSuccessful Transformation AgainObtaining huge wealth from new fields, what is this business legend likeWhat about the comeback?

Chen Ou's Peak

In 2010, the domestic internet developed rapidly,Various group buying websites are emerging one after another,At that time, there was a surge in Taobao users, Meituan was established, online group buying was popular, and JD.com and Tencent collaborated,Start a new round of rise.

But Chen Ou found that the main consumer group of women in this online shopping boom,Rarely purchase cosmetics,The reason is that it is difficult to distinguish the authenticity of cosmetics purchased online and the quality is difficult to guarantee. Chen Ou believes that if the authenticity of cosmetics is solved, it will be aA brand new market.

Chen Ou has decided to purchase independently,First, ensure that the source of goods is genuineAnd then provide consumers with30 day return without reason,Let users worry free.

He discussed this idea with his partners Dai Yusen and Liu Hui,Everyone agrees that the direction is good,But all three are concerned about the beauty industry and e-commerceI know nothing.

After research, Chen Ou found that Taobao is gaining momentum and that beauty products combined with limited time group buying will be favored, so he createdTuanmei.com,openGroup buying modeSelling cosmetics.

The online line of Tuanmei only took 2 days, as the pricing is only lower than that of the counter40% lower, highly welcomed by users, with a significant increase in order volume confirming the feasibility of this path. Within 5 months of launch, the number of users exceeded 100000, and the first year's sales reached20 million yuan.

Given its promising development prospects, Chen Ou renamed itJumei Youpin,Sales in the second year exceeded150 million yuan,Gain the favor of investors.

To expand influence, Chen Ou serves as the founderSelf appointed spokesperson,He portrayed the image of a hardworking entrepreneur in advertisements, gaining public recognition. As exposure increased,The fan base has expanded, and sales have continued to rise.

In 2013,Jumei Youpin's anniversary celebration has seen a surge in traffic,Everyone is waiting for the emergence of new sales records, and at this moment, Jumei Youpin encountersThe counterfeit crisis,Fall into a whirlpool of public opinion for a moment.

The downfall of giants

In July 2014, the media exposed a story calledXiangpeng HengyeThe company is suspected of selling on the Jumei Youpin platformCounterfeiting branded goods.

Although only a few cases, this has already impacted the brand image of Jumei YoupinCausing heavy damage,Even worse, Chen Ou has shown remarkable performance in handling this crisisA very immature and arrogant side.

Faced with questioning voices,He chose to completely deny with a strong stanceAnd publicly stated that as long as he can provide conclusive evidence of Jumei selling counterfeit goods, he willContribution in millions of yuanMake compensation.

Such a tough and reckless response is clearly effectiveReactionChen Ou's remarks quickly drew a chorus of condemnation on the internet,More doubts followed.

At a time when Chen Ou was in a crisis of word-of-mouth,Many internationally renowned brands have come forward to clarify,Claiming that theyNever authorizedGuojumei Youpin sells any product.

Faced with doubts from various sources, the situation of Chen Ou and Jumei Youpin has become clearVery difficultBut the decisive factor that ultimately led to its downfall still came fromChen Ou himself.

Return all third-party sellers of Jumei,Keep OnlySelf operated business.

This decision is actuallykill the goose that lays the golden eggsBecause at that time, JumeiMore than half of the transaction volumeAll of them come from third-party merchants, and cutting off third-party business with one knife will undoubtedly lead to a significant decrease in revenue.

Sure enough, after the implementation of this decision, Jumei's sales revenue has increasedA cliff like decline,Users alsoCategory reductionAnd start leaving.

Meanwhile,JD, TaobaoE-commerce giants have joined the competition in the beauty category one after another, and with its strong self operated strength, JD.com directlyZero counterfeit goodsProduct advantages seize the market and defeat the severely weakened Jumei in one fell swoop.

Under the pressure of competitors, Jumei's market value has grown fromHighest point straight cut waist, fell off12 billion yuan,Jumei was directly killed by a competitor on the beach.

One failure, one lesson

Chen Ou, born in 1983, has been aChildren from other families,His parents are both civil servants with a wealthy family background. Chen Ou developed a strong interest in computer games from a young age, and grew up not only as a gaming expert but also in learningLearn to be a bully.

At the age of 16, Chen Ou passed the examNanyang Polytechnic University of Singapore, majoring in computer science,It's startingA career in studying abroad.

During his university years, Chen Ou's biggest interest wasLearning, Making Money, and Playing GamesHe is a master of Warcraft at school and even has won itTop three in SingaporeGood grades.

To pass the time, Chen Ou startedSelf taught programming,Later, I developed an online gaming platform with a friend named Liu HuiGGgameThis platform has attracted many top players to engage in game battles and quickly gained a certain scale in Southeast Asia.

In order to further develop and strengthen GGgame, Chen Ou realized the need forLarge amount of funds to support operationsBut at that time, investors were not optimistic about college students' entrepreneurial projects,Money is hard to find.

To open up funding channels, Chen Ou decided to goContinuing Education at Stanford University in the United States,And sold the GGgame shares that were out of their control for $700000,Prepare to depart again.

During his studies at Stanford, he metLater partner and friend Dai YusenThe two share the same aspirations,The relationship is very close.

In 2009, Chen Ou graduated from Stanford and returned to China,Ready to start a new business,With his past experience and connections, he quickly obtained information from investor Xu Xiaoping$180000 in start-up fundsXu Xiaoping also provided office space.

Collaborating with alumni Dai Yusen, Chen Ou decided to create another oneA gaming platform similar to GGgameNamed Reeemake, he planned to replicate the successful model of the year, but never expected to eventually bring himself into aA dead end.

The success of GGgame back then was largely due to game users in Singapore and Southeast AsiaMore accustomed to built-in advertising in games,It can be done in this wayRealize profitability.

But in China,This business model is not feasible,The user acceptance is limited, and after Reeemake operated for a period of time, Chen Ou found that the startup failedIt is inevitable.

Although Chen Ou paid a heavy price for this entrepreneurial failure,But it also made him on the path of entrepreneurial growth,An important step has been taken.

Stand up again

With the situation of Jumei Youpin facing Chen OuIt's a big blowBut he did not give up on this, but immediately began to searchNew opportunities.

Chen Ou was the first to set his goalThe mother and baby e-commerce market,The decisive investment in Baobao Tree, which suffered losses, was strongly opposed by shareholders, but Chen Ou insisted on his own views. In the endThe wish was fulfilled.

Under the dividend of releasing the second child policy, the baby tree has grown rapidly,Becoming a leader in the field of mother and baby,Bring to Chen OuSignificant investment return.

Encouraged,Chen Ou has entered the film and television industry again,I invested in filming the TV drama 'Warm Strings', which had a poor reputation but high ratings. Although it was an artistic failure,But commercially successful.

Subsequently, Chen Ou attempted to invest againProduction of air purifiers,I hope to use the celebrity effect for marketing, but this actionEnd in failureThe sales of the product were dismal, but after a lot of effort, Chen Ou finally gave up.

Just when everyone thought that Chen OuRetire nowBut when he did, he made aShockingThings.

In 2016, Chen Ou keenly capturedThe rise of the sharing economyAfter in-depth investigation, he determined that sharing a power bank would be an opportunityA blue ocean market worth billions.

So Chen OuResolutely invested 300 million yuan to acquire Street Electric Technology,Since serving as the chairman, I have embarked on a journey of power bank, which has once again been questioned by various parties, even Wang SicongStep down satireBut Chen Ou remained unmoved and went all out to do a good job in the products and marketing of street electronics.

He increased production capacity, laid out network outlets, and improved user experience,Finally, let Street Electric stand out in the competitionIn three years, Street Electronics has become the industry's number one, achieving explosive growth and bringing Chen Ou another opportunityGreat success.

In 2020, Chen Ou announcedJumei Youpin delistedStreet electricity has become himMain profitable new projects.

Conclusion:

Despite Chen Ou's ups and downs,But he is still making progress,Whether he can create another brilliant future remains to be seen. Success requires persistent efforts, but it also depends onA certain amount of luck.

What we can do,It's just perseverance,Walking step by step, whether the end of the road will be glory or failure, no one knows, this is life,Full of unknowns.

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