The failure history of
17 Chinese startups
many people still remember the 2000 Beijing streets of the little Yitang billboard, "follow YAHOO ad that today if you really let Yitang" Yitang scenery for a long time. Want to do one for China billion young people cover and contain everything Internet portal. They define the Chinese young people as "Ming Huang generation".
failure lessons: lack of positioning, financing too much
1999, on the eve of the first Internet bubble burst, just won the Harvard Business School MBA Tang Haisong created billion company, the "dream team" consisting of 5 MBA and two MBA of University of Chicago harvard.
with a business plan for attractive, about two billion to get a total of $50 million in financing from two famous American venture capital DFJ, SevinRosen.
claims it is not only Internet Co Yitang, is also a "lifestyle group", is committed to the network, retail and wireless service creation and the introduction of international advanced level of lifestyle products, services to the so-called "Ming Huang e-generation" in 18 to 35 years old, the definition of Chinese economic and cultural future of young people.
net night turned out, Yitang quickly in the major colleges and universities in the country quickly take cities and seize territory, "burn": in addition to the establishment of a branch in Beijing, Guangzhou, Shenzhen three, Yitang also widely recruit staff, and around the massive propaganda campaign. At the end of 2000, the Internet’s winter suddenly, money burned half billion, is still not profitable. After the transformation has not been successful, 2008 billion company only shell, the former "dream team" burn money in the company have also choose to run away.
in my opinion, the biggest problem is that there is no positioning failure yitang. This is also the problem of most Internet entrepreneurs. Exaggerated, not willing to sink the heart to help users to solve practical problems, but with the fantasy of money can hit an Internet group. The Internet can be said Chinese Yitang did not make any remarkable contributions, perhaps the only contribution is to provide a very bad investment case. It is born with a golden spoon of nobility, tens of millions of dollars of funds in exchange for only a sigh.
development: in May 2009, etang.com was no renewal domain due to public auction, the final auction price of $35 thousand in investment.
2 cool 6 nets
One of the three
video site Youku, potatoes and cool 6. Which Youku Koo and Li Shanyou are Sohu, Wang Wei is the young potatoes. Once the rash and too much in haste.
lessons of failure: victim of the battle of the line
in cool 6>