From Baby Cow To CEO Of Listed Company

Li Bin lived with her grandparents. In the Dabie Mountain Area of Anhui, cattle are important local means of production. Grandpa is a good hand at selling cattle in four or eight villages. The best way is to know the exact age of a cow by touching the teeth of a cow. "Grandpa must know the source of the goods, buy it at a low price in a bad state of cattle, and then go home and buy it, then sell it, and have to pack it up, and there is stock in the middle." juvenile Li Bin Is the grandfather's labor force, responsible for "packaging" - find the most fertile pasture, with cattle to eat enough, and then do not return to landing.

More than 20 years ago, the cattle herd is now becoming Easy car Chairman and CEO. In November 17, 2010, BITA listed on the NYSE, with a market capitalization of US $500 million. It was the first Chinese Internet Co to list overseas. Li Bin, 37, owns 18. 94%. "The price is relatively low." He said.

No need Cattle traffickers In the season, grandpa also sells wine. Bought from Jiangsu wine, and then returned to the farmers in the village, there are also first tier agents, two agents. Li Bin helped to collect money and keep accounts. "My grandfather is a typical rural businessman. He is very enterprising, not only good business, but also very good crops at home.

Grandpa gave Li Bin the simplest business enlightenment. "Income costs, profits, long-term interests and short-term interests. If we want to make short-term money, we will not make money in the future. A good business is to make money today, make money tomorrow, earn more money tomorrow, and earn the most money with the least amount of money.

Obviously, this is the inspirational story of a small person. Most people choose to ignore such people's business path, and because there are too many people in China, most people forget to ask another question: Li Bin, who grew up in the new economic stage, has no family background, so why can he grow with the Chinese economy? Why Can Yi Che network grow with the Chinese automobile industry? Why can he realize the dream of Chinese beauty? Just what Li Bin says is good life? "You were right at that time, at that place, what you did was basically right." He said. {page_break}

All this is due to coincidence.

The existence of easy cars is a small miracle. The Internet bubble burst in 2000. The predecessor of the easy car, the e-business company of the Yi car company, is too fast to sustain. The majority shareholder is a distributor of a state-owned automobile company, whose shares account for more than 6. As soon as the Internet bubble is broken, we decide to quit. It's not like Li Bin's life.

At the end of 2001, at the last board meeting, Li Bin could not help. "At that time, the company had 6 million yuan left. I said, forget it, you take all the money. I owe 4 million of my debts to you, and I will return them slowly. Although it owns a stake in the entire company, it also means that Li Bin will not have a cent in 2002. "8 of us haven't paid wages in half a year. When I was in college, I went out to take a taxi, and from heaven to underground. At that time, I took a bus from Beijing to Fangzhuang to work in an apartment building without elevator. In my pocket, I had money to eat, ten yuan and twenty yuan that day. It's miserable. " Li Bin recalled, "we can only carry it hard."

In the low tide of Internet development, entrepreneurship needs to be crazy. One of his friends said that Li Bin always did. After grade 5, Li Bin didn't have to go to school every day, and began to live in the school. After entering the county high school, he was once fascinated by arcade in the game hall. When he came to the exam, he took up his time and entered Peking University smoothly, specializing in sociology. Because of curiosity about arcade, Li Jiu wrote BASIC program on AppleII in high school.

"When I first entered Beijing University, I was lucky enough to be vice squad leader in the class. My idea at that time was to enter politics. I played all kinds of activities in my life, took my classmates to climb the Great Wall, worked collectively, and watched the flag raising in Tiananmen. Before long, I got sick and stayed in hospital for more than a month. When I came out, I found out that I was not in the world. I ponder over my life ideal and decide to start my own business, and I want to start learning computer.

Lengthen Li Bin's personal growth history, without the influence of his grandfather, Li Bin may be a computer engineer in the university age. He passed the national computer system analyst's examination. In Peking University at that time, Li Bin was the only liberal arts student who received the certificate.

Fate seemed to have been arranged. Li Bin worked as a pioneer in more than 50 jobs in Peking University.

"The first job is to sell office supplies and get commission. At that time, the new century hotel was on my side. At that time, it was the best place in the west of Beijing, apple (AAPL, 350). 56, -2. 16%) the company is here. The office gate can not be entered without reservation. However, I know there is a back door, and then I can walk around the two floor of the hotel lobby to avoid the doorman. I have been in the Apple Corp business, selling fax paper, photocopying paper and all kinds of stationery.

Now, several offices of Yi Che are near the new century hotel.

What's different is that during the college period, Li Bin felt like a bull and felt that he could accomplish something big. Well, when he was in college, he studied sociology and minor in law. He got a lot of money from computer system analyst. He has set up his own company, called Antarctic technology, which rents several servers in the United States and registers domain names and rents in China. When his company was founded, there were 4 systems analysts who were the top talents in the computer world. At that time, there were fewer than 200 such people in China. Now, Li Bin, who is young and frivolous, has disappeared and has become a very pragmatic business manager.

In 1997, Li Bin participated in the establishment of the science and technology information technology company as general manager. After leaving the industry at the end of 1998, Li Bin wanted to copy e-Bay's model and make an auction website. He consulted with a brother in Peking University, but the elder brother threw him away and did it with others.

Li Bin is a little sad. In the following year, Li Bin saw the Internet surging as he worked on the Antarctic technology. In early 2000, he felt that he had no chance to participate in the Internet business. He decided to invest in a Internet Co in Hongkong as CEO. "I have to deal with all sorts of miscellaneous things in Antarctic technology, one of which is to manage automobile parts. I want to give it to another brother in Beijing University. He has done consulting in the automotive industry and has a better understanding of the automotive industry. He said, we might as well co operate a car website. I was moved. In 1997, I wrote an article to a magazine about Microsoft (MSFT, 27). 06, -0. 55%) Carpoint website. In 2000, there was also a car website in the United States as a listed company. I think cars will become more and more popular. The website will have a bright future. I immediately decided to start a car website with him. " {page_break}

The Agel Ecommerce Ltd was set up soon. They held a press conference at the China hotel. Li Bin also put forward a slogan: e-commerce is service.

On the day of the interview, Li Bin wore casual suits and dark jeans. He is not a brand name control. The car is a second-hand Audi. After the listing of Yi Che network, he plans to buy a 100 thousand yuan hatchback car. Beijing's No. 1 purchase plan has been shelved.

After the big shareholder withdrew from the e-business, in order to survive, he resumed his old business and compiled several programs. A car dealer's management software project earned him 2 million.

Then, in early 2003, Yi Che began to do Internet marketing services for FAW Mazda, build websites, and advertise to portals. "At that time, what I could only earn money to do." Li Bin recalls. During this period, Li Bin created new interaction, and now is the leading Internet marketing service company in China.

2004 is a watershed for the development of easy cars.

Before that, Yi Che seriously deviated from the original design track.

After that, Li Bin reissued the location of Yi Che. Easy car network for new car shopping, new interaction mainly for automobile Internet marketing services, plus the later YOKA network, second-hand car trading platform. These three businesses are the three core businesses of Yi Che. That year, Li Bin not only knew who the car was, but also what the Internet was.

In fact, it is meaningless to discuss what the Internet is. It has become the same thing as air and water. This is an era of Internet. Fan, you can not define it as a website of B2C, it is a clothing brand, and the Internet is its sales channel. Back to the vertical class website, we are also meeting consumers' very specific needs. Buying a car requires professional information, just like finding a job requires a professional platform, and buying a house needs a special platform.

There are three trends in vertical web development: first, compete for valuable users. There are 18 million people buying cars in China every year. I find these 18 million people, which is the most important. This is why I started to concentrate on car quotes and dealer services in 2004. Now we measure Tencent by measuring the contribution of each Tencent user. Valuable users now assess the Internet using this standard.

Second, platform. One thing I want to understand in 2004 is that the information and services of Yi Che do not necessarily have to be obtained on the Internet. This is the trend in the future. You go to Sina (SINA, 85). 52, -2. 93%) the car channel inquires about what car to buy in Beijing is my car purchase database, Tencent, NetEase (NTES, 44). 48, -0. 11%) using my car purchase database. Kaixin has the product of easy car network, and there is my car pass on iPhone4. Why do I think of myself as a website? Platform means that you have to focus on application, and what you need to do is service. You extend your service in a maximized way, whether it's mobile phone, SNS or portal website. You do what you should do. This is the platform.

Third, localization. We now have branch offices in 77 cities. We visit the dealer once a week and we let him use our car to pass this system. Che tong system is a network interactive marketing promotion platform, or even a set of market decision analysis system. "Li Bin is very optimistic about the automobile marketing service industry. He predicted that in 2011, the marketing cake of the automotive industry will have about 30 billion yuan. "We provide digital marketing services to the automotive industry, which is a market prospect in itself." He said.

In January 2, 2009, Li Bin wrote a letter to the shareholders of Yi Che, 6 mistakes made by Yi Che. Some shareholders say this is the best new gift they receive. But Li Bin did not want to disclose the details of the letter. {page_break}

By January 1, 2011, he could not write anything to shareholders. "Last year, my pain was far greater than happiness, and the listing was just one thing." He said.

"2010 is the most difficult year for me. It is more difficult than debt in 2002. In the 3 years from the end of 2006 to 2009, we did a lot of cross media operation around the automobile industry. It has acquired the largest auto producer in China, launched radio programmes on nearly 200 radio stations, and published magazines. But for that reason, we do not need the next financing.

By 2010, I found that collaboration between these departments was not as strong as I thought, and the pace of development of each department was inconsistent. I have to deny myself and focus on the Internet again.

I've been suffering for months. In three or four and May, we split the business and split up 300 people and 2 hundred million turnover. During this process, I deeply realized that although many of our businesses develop well, strong companies are not necessarily integrated.

I underestimated the difficulty of integration and overestimated the synergy effect. Integration can only be useful in one case, which can really cut costs. "

Li Bin is a market-oriented, highly commercialized pragmatist who will never tolerate ambiguity in terms of procedure or cost.

Li Bin has no commercial icon, but he admires Liu Chuanzhi. "Liu Chuanzhi is very pragmatic." He said. Lenovo has a CEO club and Li Bin participates every year. "Someone asked him (Liu Chuanzhi) questions, and he did not know if he did not know. He will listen very sincerely and patiently. He has achieved the most candid honesty within the limits of honesty. "

From 2006 to 2009, Yi car carried out four rounds of financing.

Li Bin likened the cooperation with investors to love between men and women. Everyone was comfortable and looked at each other pleasurably. Every time he raised money, he didn't find the most expensive investors. He heard who had a very deep background and walked around.

Li Bin is not an impetuous person. He seldom loses his temper. His apple phone has a stock list, some of which are Internet Co, and some auto related companies. Recently, he saw that the price of Yi car fell to $9, and there was no hurry.

Li Bin may be right. As long as investors remember China, cars and the Internet, and then think of easy car network, people will soon forget the ups and downs of stock prices.