Poly ms Chen and Dai Yu’s story in the United States: don’t do big screw company


on May 16, hunting cloud network comprehensive report

gather beauty is superior today officially listed in nyse, stock code for “JMEI”, the opening was quoted at $27.25, a rise of 23.86% in the price $22, a market capitalisation of about $3.8695 billion.

), according to

the prospectus, ahead of a listing in beauty management and senior management team, chairman and CEO Chen has a 40.7% stake, co-founder Dai Yu has a 6.3% stake, director Chen Keyi has a 10.3% stake, executives and the board of directors has 57.5% team as a whole.

get the prospectus shows that it has been seven quarterly profit. Prospectus supplement files are released in the first quarter of 2014, its net revenue of $154.9 million, including proprietary trading at $129.9 million, the third party platform business $25 million, up 220% from a year earlier. Profits, in the first quarter of 2014 gross profit of $68.3 million, $16.6 million net profit, excluding the cost of equity incentive after year-on-year growth of 122%.

according to the opening price, worth $1.575 billion, after the listed Chen Dai Yu, worth $240 million.

left Dai Yu sen Chen among the

just four years, ms Chen and Dai Yu sen completes the process of entrepreneurship from zero to the listed, how they do it? Cloud network share a set of hunting in the business a year later they accept the Oriental entrepreneurs “(author: Zou Wei) magazine to do an interview, when their career is just beginning, three years later, now don’t mean something different to read. They have what kind of entrepreneurial story, cloud network readers read on hunting:

on August 19, “happy girl” in the battle for the top 6, appeared in the xiaobo to gather beauty is superior, the CEO of the Chen. This is the first time that ms Chen as a judge in the highly popular TV show, his vote will affect the player’s future. Ms Chen said he went to changsha is not a fad, but for the greater improve their popularity, so as to bring benefits for the company – this and he personally for the optimal product endorsements, giant pictures appear in the outdoor billboard is a reason.

at the end of the game within 1 hour (around 12 o ‘clock midnight), gather beauty is superior orders reached 500000 yuan, refresh the record of the time the orders. Chen to pay the price in Europe, he suffered a stranger on the Internet, have dissatisfaction from fans who were eliminated, and some people think that his work honestly.

“if do one thing can bring benefits for the company, I would rather sacrifice myself, I this is personal behavior. I thought we may have some criticism, but I didn’t think so much. Kill one thousand since the loss of eight hundred ah, such activities in the short term must not attend.” Ms Chen is a little reluctantly said, “on this issue, I do not have experience, this is a plate of chess under difficult.” Ms Chen himself is enterprising person, as long as it is good to get the optimal product, he can have determined to do.

in gather beauty is superior, the aura of powerful Chen o Lord, the Lord is his partner, co-founder Dai Yu sen. Dai Yu looked a little shy, love to laugh. He is Chen at Stanford university’s teacher younger brother, the two men met in Stanford university campus, has a strong entrepreneurial complex.

in June 2009, ms Chen immediately return home business, graduated from MBA Dai Yu, then give up) to join Chen’s team. Dai Yu sen said he and ms Chen has a lot of similarities, especially don’t want to do a cog in a big company. “A company’s cattle, is great, but it is the great belongs to its executives, much to do with me? This is a hard to say.” Because like you can drive, rather than arranged by others life, two young man in his 20 s front foot a campus, hind feet step into China’s Internet startup rapids.

ms Chen is sichuan, in 2001 after graduating from high school in Singapore, nanyang technological university computer science department. Ms Chen is also a great game players, by playing games to earn pocket money. In the “Singapore” generally conformist, programmers and teacher younger brother liu Chen developed Garena online games against platform, and had 3 million registered users in the first year. In Chen’s hand, Garena highest there are tens of millions of registered users.

in 2007, Chen’s determination to do big business, after several times, he first put the things in hand, to study for an MBA at Stanford, in his words, at that time doing things big also. Of course, the business also let he earn the first bucket of gold, and become a key to him to go to Stanford.

this year, was admitted to the MBA of Europe by the Stanford alumni, Chen in Beijing and angels xiao-ping xu ate meal. During the dinner, xiao-ping xu joked that ms Chen for his investment in the actor in the movie. Chen xiao-ping xu also suggested that the focus on entrepreneurship.

Dai Yu smaller than Chen’s three years old, when ms Chen in Singapore do game platform he read undergraduate course in the department of industrial engineering, tsinghua university. During the university, he has worked as an intern in GE, Google and baidu. Dai Yu, 22, 2008, received a go to Stanford university master’s degree of management science and engineering, love the Internet Dai Yu sen excited. Ms Chen is Google China internship at this time, experiencing a “very big companies without passion life,” he will also understand your fate is not a big company, to entrepreneurship.

ms Chen met in Stanford university Chinese students party Dai Yu, found this person like himself, have strong interest in the Internet, want to do some different things, and very persistent, especially want to return home after graduation. Ms Chen said: “at Stanford university students to entrepreneurship is not graduate, most people enter this company.” Two years at Stanford university, ms Chen on the one hand, when dealing with local VC “to mix a familiar face, to need money lane is bad to can give you money”. On the other hand is associate with some people who want to return business. Dai Yu sen and several Chinese students called the CEO (China Entrepreneur Organization, Chinese entrepreneurs) in the small salon, together, especially when you eat to discuss business ideas and access to resources. Dai Yu, ‘said later in this group of students truly full-time entrepreneurship is ms Chen and his two men. “People have ideas but also know that this is a risk.” Dai said.

soon, ms Chen to graduation, for the future, he only chose a way: to China for business. “Because I didn’t bring the company listed first startup, the second time to China for business I want to be a listed company, be sure to do it, I think very clearly that listed companies must do.”

in 2009, ms Chen immediately to return to China after attending the graduation ceremony, he can’t wait to toss out some things. Ms Chen and innovation works, a partner at Wang Hua once in 2008 had an in-depth conversation, then in Google headquarters business development Wang Hua suggested that ms Chen not to set up a business as soon as she left school, but should be known for an industry first, precipitation, and then go out to go it alone.

ms Chen don’t listen, he is not a day to stay in a big company, at the same time holding the “light foot is not afraid to wear shoes” mentality, decided to give it a try. Ms Chen back to China with a new project, no money, he found xiao-ping xu had not contact for 2 years. In China world hotel in Beijing, and Chen xiao-ping xu tea while explain yourself back to the project, the investment agreement soon. Chen xiao-ping xu to the projects invested $180000, by the way back to Chen’s team a house as office space. Dai Yu sen also take home to follow ms Chen, from now on never returned to the Stanford campus. Chen’s team, and his business partner in Singapore liu.

this time, Chen’s choice or the games industry, set up Reemake company, venture project is in the social games built-in advertising. Ms Chen accept the North America Chinese media before leaving the world journal of interview: “the game in China consumers, a buyer’s market is more mature, more north American players pay model clear… But China is still a lack of match the business model of enterprise, believes that the current market capitalisation of $2 billion, “China’s online game industry.”

Europe and Chen Dai Yu soon found, they are moved to the foreign model doesn’t work in China. Ms Chen said: “do not understand the market, at that time did not understand the business environment, especially because of China’s business environment, poor credit system a lot, because they don’t know and eat a lot of loss.” At the beginning of high-spirited

light were real poured a bucket of ice water, the rest are helpless and anxious. Out over a few months later, Chen found direction, resources, team, almost nothing of the basic elements of the business, the direction of the transition is not clear. After the company has more than 20 people, the original are all those people go. “Then I left, the rain, liu and a responsible for the administrative staff”. One night that winter, ms Chen drunk wine, back in a few months to the taste, cry alone.

“runway” was a gamble. Ms Chen advocated in the direction of electricity. Do community Dai Yu sen is suggested. Chen believes the community need long time to cultivate market. Dai Yu thinks electricity link is too complex, and lack of procurement experience. The external environment is that Mr Wang Meituan network has been launched and fire up.

in March 2010, by the word, Chen cosmetics company transformation group. Then they left hundreds of thousands of yuan of money. Due to the limited resources, ms Chen and others to avoid frontal battlefield, from niche to enter. Chose cosmetics. The consideration is Chen: cosmetics chain length, gross margin is high, an average of 25% ~ 30%, high-end cosmetics, higher network channels can be used to further reduce the cost; Second, China is the world’s third largest cosmetics market, but the domestic cosmetics B2C market has been a lack of a well-known brand of vertical type of online shopping.

ms Chen and Dai Yu’s lack of experience, and this is an intuitive business risk. They use a very short time to gather beauty is superior predecessor regiment beauty online. Ms Chen will be the agent of cosmetics, stored in the warehouse, sold in the form of limited group, lower than store 4 into. In may the same year, ms Chen fully stopped before the games built-in advertising business, at the same time won the 2 million yuan investment from xiao-ping xu again.

after a beauty online line, good performance unexpectedly, in less than five months over 100000 registered users. Dai Yu sen said: “in 2010 AD is little, all is the user’s verbal communication.” Founded in September 2010, the U.S. changed its name to gather beauty is superior, the same year sales of 20 million yuan. In March 2011, gather beauty is superior obtained from sequoia capital level of tens of millions of dollars of investment, ms Chen would not comment on how to use the money. May, get the optimal product transformation for the bulk appearance cosmetics B2C website.

gather beauty is superior is a more “heavy” B2C enterprise, with complete procurement, logistics and service team, the whole process of control from purchase to delivery, the aim is to ensure that the user experience of the buyer. Gather beauty is superior also launched the terms of the unconditional return, making it has accumulated a lot of repeat business. “In fact, very little return.” Dai Yu sen said.

ms Chen thinks, the biggest difficulty is the supply chain, supply chain more disorderly, “find a good supply of goods need time to accumulate”. In addition, the chaos of the electronic commerce circle itself need ms Chen et al. Say simply, someone to buy a batch of goods, and then open it returned, ms Chen is suspected by rivals. In June, appeared a few posts online, point to gather beauty is superior, describes the internal turmoil and staff turnover, which will gather beauty is superior to get involved in a brief crisis.

at present, the core member of the team who gather beauty is superior is very young, mostly born in around 1985. Ms Chen is responsible for the strategic direction, including brand molding and market public relations; Dai Yu sen is mainly the design of the product, the company’s internal operations and customer service; Liu, director of technology. Lack of experience to make up for the disadvantages, as ms Chen of perfectionist and Dai Yu harsh judgment to the requirement of executive ability. Ms Chen is very strong, once the subordinates commitment not well done, ms Chen will temper, rebuked subordinates. “In the early stage, in particular, I will not tolerate mistakes. I am very pay attention to results oriented. Promise me one thing, if don’t, I harsh criticism will be.”

Dai Yu critical of product details, in tsinghua university and Stanford university, Dai Yu sen to attend a lot of courses related to design. Design gather beauty is superior website to buy the countdown card, he the millisecond timer, hope that through it kept jumping, let many women consumers to form a stronger sense of urgency, increasing the purchase behavior.

“work in my team are hard for ourselves. I work for is hard to work of the people, I know what you want, including me to do the judges be scold, but I also know a ratings 2 points a few programs can’t pass, because it is free of charge. You stand up and be sure someone. Some people will attack you, some people behind Yin you could, but I do think this is the most effective for company development.”

ms Chen has a strong ability to execute itself, sometimes have to like meat play to throw yourself out, “Mr. Jobs and Mr. Ma did very well in public relations, through personal brand successfully drive the company’s brand, save a lot of money. We also study them, by this way to save money, because electronic commerce cost is very high this year, the bubble is very big. So this year who can more efficiently with lower cost to marketing, who will be able to really win.”

ms Chen hope to gather beauty is superior can be a Stanford university’s business case. The rise of silicon valley, one of the reasons is the entrepreneurial alumni as a model of success, let others fell into the ideal. Ms Chen admits that his luck would have it, of course, the great transition to complete the startup project. Entrepreneurship is ms Chen and Dai Yu’s a way of life, ms Chen says she has not been playing games for a long time, Dai Yu sen to play once a week. “An elder told me, must be the company to achieve the level of $1 billion, or no investors will be watching you.” Ms Chen says his goal is to gather beauty is superior to $1 billion in the club.

now, he paraphrased Wang Hua word to those who study abroad return home, “first precipitation, entrepreneurship” again.