Wang Weijia: Ambitious And Successful Venture Financing Story

At the southern tip of the US San Francisco, on a narrow and narrow valley of less than 1500 square miles, the annual total output value of the national economy can be flat with that of Korea. It ranks eleventh among all the independent economies in the world. It is the place where a large number of global star enterprises were born, such as Silicon Valley, HP, IBM, Intel, Fairchild, apple, Xerox, YAHOO, Netscape, Amazon Bookstore and so on.

There is also a Chinese entrepreneurial life. There are legendary, thrilling and irrelevant dramas, but more tenacious, self assured and hopeless entrepreneurship.

He is Wang Weijia, a Chinese who studied in the United States and started his business in Silicon Valley.

In July 28, 1998, Wang Weijia, known as the "information king", invented the The double faces individual move information machine (referred to as TFMIM). At that time, when the world's first launch and began to provide information services, it was pointed out that the use of this information machine marked the birth of a new industry with the global market value of up to US $1 trillion -- the birth of the personal mobile information industry.

Wang Weijia brought this revolutionary technology and product to the world.

American General Radio Communication Co., Ltd. was founded in 1994 in Silicon Valley.

At the beginning of the creation, Wang Weijia explicitly provided the mobile information service to the individual in the direction of the development of the enterprise.

Wang Weijia clearly saw the three main trends of modern technology: "the first trend is that computers will develop from desktop to handheld; the second is the rapid popularization of wireless communications, including mobile phones and pagers, and the continuous decline in communication costs; the third trend is the big bang of the Internet."

Based on this assurance, Wang Weijia formed his own idea of entrepreneurship and the idea of inventing TFMIM: whether he can combine these three most important technologies in the contemporary era, and connect to the Internet network terminal through wireless Internet connection. If possible, people can see all kinds of information at any time and anywhere if they are light and light.

Capital is an indispensable part of the successful financing of ambitious enterprises.

There are more than 600 Vc firm in the United States, and half of them are in Silicon Valley.

"The success of Silicon Valley lies in its operational mechanism first, namely the close combination of strong capital and ambitious entrepreneurs."

Wang Weijia said, "for entrepreneurs, familiarity with and understanding of venture capitalists and their operation models is a key prerequisite for financing success.

Besides, in the process of contacting with venture capitalists, entrepreneurs must also have professional performance and adequate personality toughness.

Wei Jia's first financing experience is very dramatic.

At the end of 1993, Wang Weijia attended a lecture on venture capital.

Before the meeting, he already had the idea of developing personal mobile communication information terminal.

At the end of the meeting, Wang Weijia went to the podium to talk about his entrepreneurial ideas to the speech venture capitalists.

After listening to his "story", the venture capitalist gave Wang Weijia a telephone number and said, "we'll talk again sometime."

After that, Wang Weijia telephoned the venture capitalist for three consecutive days. No one answered, but Wang Weijia kept his voice message patiently.

Finally, one day, the venture capitalist called Wang Weijia back and agreed on the time and place to meet.

When two people meet, the investor says, "do you know why I am not answering the phone?

This is actually a test for you.

If you can't overcome the difficulties of calling, I will never turn to you.

Because an entrepreneur must have basic qualities that are not afraid of difficulties.

After six months of negotiations, Wang Weijia finally got the first total venture capital of 2 million dollars from two Vc firm in July 1994.

Wang Weijia became the first person in mainland China to get venture capital investors.

The success of his first financing not only enabled Wang Weijia to start his venture ventures smoothly, but also made him fully understand the mechanism of the whole venture capital operation, thus pave the way for his subsequent three financing.

From 1995 to March 1999, Wang Weijia got three venture investments from 7 companies such as IDG and Intel, 7 million, 9 million and 12 million US dollars respectively.

Before and after four times, the total amount of funds from the total of 7 Vc firm was 30 million US dollars. This amount is not only the largest in the Chinese circle of the mainland to the US, but also in the forefront of many venture capitals supported by venture capital in Silicon Valley.

"I always prefer a stimulating job from my personal character," he said. "This is probably my fate."

Wang Weijia said, "when I was working in other companies, there was always a feeling of what I was looking for. Since I founded the company, I was steadfast in my mind.

Through my own pioneering career, I have also discovered the difference between Chinese and Americans.

I am still more daring among the Chinese in Silicon Valley, but I am still thinking about going to business after reading the doctorate, and Bill Gates dare to drop out and start a business in the first year of college. There is a big difference between them.

In addition to being optimistic, adventurous, confident and so on, the most important thing is to be persistent and persistent.

"Starting a business is different from scientific research," Wang Weijia said. "Entrepreneurs should first believe in themselves and what they do. Then they must listen to their own hearts and not rely on the so-called rational guidance. This is like throwing a coin. You have to throw it all the time until you want the other side to appear."

Despite all kinds of setbacks, Wang Weijia still embarked on a road of entrepreneurship without return.

"Entrepreneurship is a bit like taking drugs," Wang Weijia said. "Once you start your business, you will become addicted.

Since I set up the United States, I have decided that this is the only thing I can do in my life.

Even if it is possible to fail, I will start my business again.

Entrepreneurship is just like Bill Gates said. "It's the best job in the world. I will not change anything."

The secret of Silicon Valley's investment and entrepreneurship is Wang Weijia's entrepreneurial thinking. The most important thing is to study the secret of Silicon Valley's investment and entrepreneurship.

"The United States is a super compound system supported by four legs," he said.

These four legs are the Silicon Valley that creates new wealth, Wall Street for improving economic efficiency, Washington for redistributing wealth, and Hollywood for improving people's quality of life.

The first wealth generating center in the United States has been pferred from Detroit to Silicon Valley.

Silicon Valley's total market capitalization is currently 10000 billion US dollars, far exceeding the total market capitalization of only 110 billion dollars in Detroit, of which Silicon Valley only Cisco one company's market value is higher than general motors, Ford and Chrysler three largest auto market value.

Silicon Valley's millionaires had 50 thousand in 1994, increased to 200 thousand by 1997, and further increased to 520 thousand by the beginning of 2006.

In such an atmosphere, entrepreneurship is a natural thing.

However, if we want to start business in Silicon Valley, we must have all the secrets of Silicon Valley's investment and entrepreneurship.

Wang Weijia believes that there are five main mysteries in investment and entrepreneurship in Silicon Valley: OKIGINALITY: the first thing to mention is Stanford University.

In 1891, when Mr. Li Lian Standford founded the school, he set up a unique purpose of running a school to enable students to learn some practical knowledge, which will benefit them in the future and benefit the society as well.

It is this practical educational purpose that lured the students of the whole world to make a fortune and to flock here to create their own business.

Today, it has become a real United Nations. It condenses the advantages of all cultures in the world, and enables 14000 students from 57 countries to pursue their dreams in this green green field.

The secret of CAPITAL (capital): apart from creativity, the most important thing for a company to run is to have enough capital. According to the traditional investment concept, no one is willing to invest in a company that makes money.

But in Silicon Valley, this is a problem, because there are a lot of venture capitalists here.

3000 dune street, Silicon Valley, is an obscure building near Stanford University. But it is a gathering place for Silicon Valley's very famous venture capitalist.

The venture investor who holds YAHOO is located here.

Maurice, a venture capitalist at Redwood company, said: "the story of YAHOO's success is actually the most typical example of the success of venture companies with the help of venture capitalists.

We initially invested $1 million in YAHOO and bought 25% of the company's shares. Today, the $1 million is worth about $4 billion.

This is Silicon Valley. The wings of wisdom and the wings of capital have made a whole: on the one hand, a lot of inventions created by wisdom; on the one hand, the fine screening of venture capitalists has made the innovation ability of the US economy lead the world trend.

CHOOSE: how does Silicon Valley's venture capitalists and entrepreneurs choose each other?

Just like Wang Weijia's successful financing story, Chen Pihong and his company created this question.

The company is another star in Silicon Valley. But when Chen Pihong started his first company, he also received the support of venture capitalists.

From the beginning of Chen Pihong's first company in 1992, Hills and Company has been accompanied by Chen Pihong. Today, its fate has been linked to the fate of Hong Dao company.

Dave Anderson, executive director of the Hills and Company, said: "before we agreed to cooperate, we talked for a long time, about a few months."

A few months of conversation, according to Chen Pihong's understanding, is not a matter of investigation by the Hills and Company, and more importantly, the investigation of Chen Pihong.

Today's Hong Dao company has become a profitable professional business network company.

This is certainly Chen Pihong's success, but it is also the success of Sutter Hill.

However, behind the success of Hong Dao company, there is a very important factor.

Sutter Hill Dave, executive director of the company, said: "at the beginning, we provided capital for the company to make it develop. We also provide consulting and other auxiliary services to help them do a lot of things, actively participate in the activities of the board of directors of the company, we help them develop business models and improve business strategies, and we also actively provide financing for their further development to help them select key talents."

Chen Pihong said, "what they provide is not just money.

Some invisible help is actually as important as tangible money, and maybe even more important. "

With the help and supervision of the Hills and Company, the $3 million venture capital has now become $2 billion 500 million.

Hong Dao company is just one of Silicon Valley's many successful stories.

The mystery of DEFEATED (failure): Statistics in the past 40 years show that the success probability of venture capital is only 20%, which may reflect the spirit of Silicon Valley, that is, allowing failure.

On this issue, the president of international data group, McGregor, said: "in the United States, there is a consensus that it encourages you to try new things. Even if you fail, you can get honors because you have tried, so that you can continue to try."

There is an old Chinese saying that failure is the mother of success, and such a philosophical concept, which is easier said than done, has been fully promoted in Silicon Valley.

The secret of CONDITION (condition): in the early autumn of 2000, the Shenzhen stock exchange, which is located at the front of China's reform and opening up, is a large computer system. After a thorough test, it will eventually carry out the operation of the Chinese stock market.

The growth enterprise market will undoubtedly inject great vitality into China's economy.

But can the technology innovation economy flourish in China with the growth enterprise market?

Economist Li Yang said: "venture capital is definitely not a problem of money, because in China's case, in general, there is no shortage of funds. What is missing?

What is missing is that the funds can come, take root, germinate, and grow, which is the so-called system condition, the so-called soft environment. This condition is not enough in many countries, and the creation of this condition is particularly important.

However, on the land of Silicon Valley, we have a free entrepreneurial culture, a sound legal environment, a perfect intermediary service, and a multi-level capital market, all of which seem to be telling us a deep and compelled face.