CEO For Himself: Chen Ou

In the fish bowl of Chen Ou's office, he kept a small shark. Chen Ou did not arrange any water and fine sand for it, so it wanders alone in the narrow space. China's Internet market environment is like this fish tank. Chen ou, born in 1983, led a group of children to break through the bondage of $13 million and create a New York Stock Exchange listed company in four years: jumei.com. The New York Stock Exchange's listing announcement will be called "the youngest Chinese CEO in the listed companies of the NYSE".

On May 21st, the fifth day after the bell of the NYSE, the the Bund pictorial met Chen Yu in this office. This is his first media interview after he returned from the United States.

After many companies are listed, executives need to go out to play. After the launch of jumei.com, executives went back to work in economy class, including Chen ou. Chen Ou said he was very saving money for investors. He could not stay in hotels for more than 300 yuan. He used to earn 5000 yuan a month for a long time, and now he is 20 thousand.

"Today just opened a performance meeting, you don't need to meet the standard every quarter before listing, you need it after the listing." Chen said he was under great pressure. "Listing is a brand new challenge to the normalization of the company. It also means that the transparency of the company's popularity is going up to a higher level."

Xu Xiaoping, an investor still in New York, took part in the bell ringing ceremony, which was the second time he had struck the bell after he was listed in New Oriental. In the telephone interview with the Bund pictorial, Xu Xiaoping evaluated Chen Ou as "a scarce animal in an entrepreneur".

Chen Ou's speech was fast. When he was interviewed, he wriggled on the white sofa and sat up. Entrepreneurs with hundreds of millions of dollars in their positions rarely display such an unguarded gesture in front of the media.

Because young and high-profile, Chen Ou was labelled many labels, "yesterday was beaten again very miserable, also some people said I am rich two generation." He could not help but fight back on micro-blog.

In the electricity supplier, there has always been a saying that "no money burning, no electricity supplier". Jumei.com has only been financing for four years for only 13 million US dollars. It has been listed for nearly four US dollars, accounting for 22.1% of the total B2C beauty market in China. It is not easy to make profits for 8 consecutive quarters.

　　 Decision making and transformation

Chen's first venture started in 2006. At that time, he was a senior at Nanyang Technology University in Singapore. He was only 22 years old, and he had made a game company GG-Game, with about 10000000 users.

The company's development is good, Chen Ou wants to go to school to complete his dream with his father. He was 24 years old when he was admitted to Stanford University business school.

Originally, Chen Ou wanted to be a remote control company. Later, he was played by his own professional manager. While he was studying, the company changed its name. Chen Ou simply sold his shares and his account had tens of millions of dollars.

With such an entrepreneurial experience, most people can live comfortably for a few years, but Chen Ou does not. In 2009, just third days after graduating from Standford MBA, Chen Ou returned to China and began his two undertaking. "To do great things, we must return to China."

This time, Chen Ou saw the game advertisement and copied the American model. The company was named Reemake. Chen Ou hopes to introduce angel investors instead of using his own money. "Angel investors will be more flashy, making money with their own money, others will think you may not be able to find a job." Xu Xiaoping was Chen's only investor in China, who only talked with him for more than ten minutes, and decided to invest 180 thousand dollars.

After the birth of the game advertising company, because of the differences in the market environment between China and the United States, it quickly met with acclimatization. After a few months, the company had only 300 thousand yuan left on its books.

At that time, Chen Ou, Dai Yu Shen and Liu Hui three people, all day nest in Beijing Haidian Huang Zhuang subway mouth that Xu Xiaoping lent their house to ponder the way out. Chen Ou quickly realized that "in the big environment, several of our children are uncertain, we must transform and go with the flow." But Xu Xiaoping advised him to wait a little longer.

Chen Ou did not listen to Xu Xiaoping. Later, he said, "I am willing to deny myself that games are my favorite things, but what I like is not necessarily successful. It is not what you like, but the pursuit of success. Even Xu Xiaoping sighed Chen Ou's decision-making ability and thought he could find a way out quickly in adversity.

Chen Lei and Lei Jun's senior entrepreneurs are different. Lei Jun likes to start the work well again. Chen Ou belongs to the type accumulated in groping.

In advertising for Reemake, Chen Ou contacted cosmetics companies. Cosmetics group buying is a matter that they think is closer to money.

Chen spent two days building up the website. Dai Yu Shen registered more than 100 trumpets to publicize in the forum. As a result, orders are coming in. Chen Ou pays his own money to Clinique counters and buys dozens of bottles.

At that time, the shortage of manpower, the 3 founders plus 1 administration, not only to manage the website operation, but also to pack and deliver, but the new recruits were not recruited. An intern has to go. Chen Ou says he will give him 5% of the shares, but the interns feel that the company is about to hang up and resolutely go.

But in Chen Ou's eyes, there are customers coming in and orders, so this business mode is right, we must stick to it.

During the transition period, Chen Ou felt that some of the men were selling cosmetics and had some embarrassment. They telephoned Xu Xiaoping and reported that they had not done enough "decent". "Later, if we feel embarrassed, others are embarrassed, so we have more opportunities. Later, it was found that all the cosmetics group bought were men.

In the wake of the US Zulily and the domestic vip.com flash buying mode, poly America also adjusted its direction in time. Limited time sale stimulates user impulse consumption. Chen Ou also works hard to force the mobile client to enable users to increase their purchase frequency by fragmentation time. With these new tactics, the active users in the United States have increased 10 times in 3 years.

Because of the characteristics of flash buying mode, the lack of money in the United States knows that it can not burn money in inventory, thus greatly reducing operating costs.

Initially, cooperation with big companies was difficult. Chen Ou looks for another way to find the exclusive agent for the two or three line brand. He compared the us with SEF. The latter also talked about the next two or three lines to seize the users, and then the big cards under the counter attack, thus finding a way suitable for the United States. Now, Chen Ou has won many exclusive agency rights of domestic and foreign brands. He also wants to find a combination of products under the line, and the dispute between genuine and fake will be solved.

　　 Speak for oneself

Chen spent a lot of energy in understanding users. Understand their habits, know what they are concerned about, what they need, and make great efforts to improve user satisfaction. "We made the first 30 days' unconditional return," said Dai Yu, vice president of jumei.com products. For example, when you buy a box of facial mask in poly America, you use 8 pieces of 10 tablets, feel bad, take two pieces and return them to us, we refund the whole amount. Although operating costs will increase, in the long run, the gains from word of mouth transmission are far greater than cost inputs.

Chen Ou also excavated people from traditional cosmetics companies to fill his team, for example, they found Yu Mei Jing's engineer with twenty or thirty years of experience. "There are always better people than I am in a separate field, so companies can become."

Chen said that after that, poly was considering how to spread himself. The lack of money in the United States, CEO self marketing is a way to save money, but there is a heated debate within the board. During the meeting, we thought Chen ou should be understated and give people the impression of doing things steadfastly. Xu Xiaoping, who was present at the same day, was also persuaded.

Xu Xiaoping thought about it when he came home. He used to supervise publicity in New Oriental, and the debate in the United States was very similar to that in New Oriental. Everyone was stared at the beginning of the New Oriental fire. Yu Minhong, who visited Time, said that the company had to keep a low profile, while the China Youth Daily called for a low profile.

That evening, Xu Xiaoping called Chen ou to encourage Chen ou to be on TV. He also cited the example of Zhang Zhaoyang, as the first generation entrepreneur of China's Internet industry. Zhang Zhaoyang succeeded in promoting the popularity of Sohu by playing a personal brand at a very low cost.

To Xu Xiaoping's surprise, Chen Ou has an innate ability to entertain and sell. "I encouraged him to watch TV, but I didn't teach him how to watch TV."

There are marketing courses in Standford, but he is more interested in financing and business management. "Because I never felt like I would play marketing, I wanted to do marketing to find someone else." Chen Ou said that his self marketing was purely an unplanned event and he had no money to force it out.

In the first phase of Tianjin satellite TV recruitment column, "you are the one", Chen Yuan spent 4000 yuan to recruit a driver. This made Liu Huipu, who was then working in Jiayuan, and was "Boss". He was later picked up by Chen ou to gather in the United States, responsible for sales and human resources.

Chen ou, a member of the boss regiment, participated in the recording of Tianjin TV's recruitment column.

"Other people's participation in TV shows is based on the mentality of playing, but Chen Ou is definitely not. Chen Ou takes a real marketing concept. He knows this is a treasure and tries to show jumei.com's good side." Liu Huipu said.

The reality of TV has led to an increase in traffic volume in the United States, with sales increased from 500 thousand to 1 million 500 thousand daily. Since then, Chen ou Hunan TV super girl served as guest judges, on "day to day", "hundred big coffee show", what program on fire?

Although Chen Ou is famous, it is not enough to gather beauty. Chen Ou felt for the first time that the urgency of advertising marketing was that when the investment of Sequoia Capital came in, the investment had been difficult to talk about for 7 months, and the pressure of competitors, such as Le bee net and other electric providers, was not easy to drown out advertising, so he decided to bet on an advertisement.

Chen Ou gave the board a 30 million yuan gross budget and hit the board. He worried himself, worried that the advertising campaign would not work and beat the water and then cut the budget to 10 million yuan, or at least not bankrupt the company.

With so little budget, innovation is difficult. In 2010, Han Han and Wang Luodan led the "popular object" to become the learning object of Chen ou, and he ran to all guests to learn the Scriptures. He concluded that "everything object" wins resonance, resonates lead to the spread, rather than a purely promotional advertising. Chen Ou also wants to write some thoughts on his own business. He has caught several hot spots at that time: 80, Snail House, struggle, naked marriage.

In order to save money, Chen Ou decided to write his own ad copy. He didn't allow failure, so it took two months to read and polish the advertisement. One day, when he finished in the shed, Chen Ou saw the urge to cry. He found how much he felt, moved himself and moved others.

Colleagues are being tormented by the United States. Liu Huipu is also, but Chen always feels a little bit better. The advertisement is good, and the only drawback is that the music was not ideal at that time. Liu Huipu was almost desperate. "So I am so desperate." At midnight, Liu Huipu's cell phone rang again, Chen Ou asked him to think about it again.

{page_break}

Liu Huipu evaluated Chen Ou as a very rare person. He had very strong two sides. Chen Yu in life is a 18 year old man who jokes with everyone around him and takes good care of everyone. But as soon as he got to work, he became a 58 year old man.

Perfectionism is a disease. Chen Ou is a serious patient. Advertising is not easy to make, and the channel has become a big problem. After all, the money must be precise. Chen Ou personally studied all visitors, looked at the Baidu index, and tested the effect of bus stop sign and subway advertisement.

Jumei.com is the first Internet Co to launch advertisements on TV in large scale. Liu Huipu said, now many companies are catching up with the United States, where the United States will vote for them.

"Endorsement for myself" resonated with many netizens, and all kinds of Chen's version appeared on the Internet. Chen's fame also reached its peak. Relying on this advertisement, the monthly revenue of poly America rose from 40 million yuan to 80 million yuan, surpassing its competitors all along. Poly warehouse broke out and lasted for four months.

Xu Xiaoping said Chen Ou was very sharp and knew how to propagate accurately. Chen Yu was very much like Lao Yu. He could quickly hit the nail on the head when faced with tens of thousands of speeches. Chen Ou also has this ability. Even if he speaks impromptu, he can quickly grasp the essence and express clearly where the product is good.

　　 From the edge of collapse to list

The other side of self marketing coin is all kinds of slander and attack on Chen ou. Chinese values have always been the pursuit of moderation, resentment and high profile.

The biggest problem is the counterfeit crisis. There is a personification of the name of Su Su Mao seventeen, the former jumei.com staff in the identity of Tianya broke the news that jumei.com cosmetics 9 is a fake. Although this person was quickly verified by the police as a forgery, and assumed the criminal responsibility, the post quickly fermented, and the nature of the Internet sales cosmetics was not trusted, so that the users of the United States had great doubts, and there were so many industrial and commercial complaints.

　　 Cosmetics Because of the ambiguous relationship between the online and offline channels, no one came out to speak for Chen ou. During that time, Chen Ou was very stressed and had to run back and forth between the company and the warehouse. At that time, B round of financing was prepared, and investors came to talk about it. Chen Ou didn't have time. He had to send the goods first.

The United States is in a state of isolation. The competition between the electricity suppliers and the suppression of others have made Chen Europe angry. On the board of directors, he showed the young man's frustration, and he wanted to fight against it on his micro-blog. Xu Xiaoping quickly pressed him: "you don't mention this kind of thing. The police will naturally handle the rumors."

Later, Suzhou Mao seventeen was arrested for rumor and admitted that he was not a former member of the United States at all. It was because of his failure to take revenge.

Chen Ou said frankly that he was very concerned about other people's opinion of him. He was humiliated when others scolded him for selling fake goods.

Later Chen Ou figured out. "How are you crying?" God gave you something to take away. You can't be scolded now. How can it be? At least there are more people who support me than black people. "

Bad words are far better than good words, and distrust of beauty is not eliminated. In 2013, when we celebrated the 3rd anniversary anniversary of the United States, almost all the problems broke out at the same time, but a promotion turned into a disaster.

This day is called "301" by the gathering beauty, and it is promoted all day. Hundreds of times on weekdays visitors paralyzed the page for a long time, causing users great dissatisfaction. Logistics seriously lagged behind orders, triggering a burst. With the rumors of fake products, the abuse of the Internet is overwhelming. This is the largest Waterloo encounter in the United States.

The underlying reason for the collapse is the technical system structure and code quality problems of the website, and overestimated its logistics and warehousing capabilities, which led to the fall in the second and 32 quarters of 2013 and the morale of the team.

Chen Ou Ding Ding thinks that this is the problem of putting people in the wrong position. Not all of us can keep pace with the development of the company when the three founders of the United States do their jobs.

After "301", Chen Yu invited Zhou Tao, who was responsible for the logistics of the Amazon, to replan warehousing and logistics, and finally set up a public relations department. Only three years after the establishment of a Internet Co, the public relations department was rare.

According to Liu Huipu, there are only 9 executives in the United States, and only 14 of them are directors. That is to say, the jumei.com of 3000 people has only 23 middle-level teams. There is basically no internal friction between the departments, because all executives are performance oriented, and high level clapping of tables is a matter of determination. So it's very quick for us to do anything. He explained the efficiency of the United States.

From last year's "301" defeat to the listing in May of this year, it took only 14 months to gather in the United States.

　　 Create history

Chen Ou was born in Deyang, Sichuan. His parents were first teachers, and later turned into civil servants. To learn first, to be outstanding, is what his parents expect of him. When he founded a game company, he was told by his father that he was not doing his job. His father went to Singapore to persuade Chen ou to speak. The two men threatened to break off the relationship between father and son.

Because of his father's repeated requests, Chen Ou finally decided to go to Stanford University for further studies. "I am actually a person who likes to create history. For example, when I was 24 years old, I went to read Standford, such as the company that founded 4 billion dollars in 4 years, all of which made history. The feeling of creating history is very successful, and the feeling and confidence that a sense of achievement brings is far greater than wealth. "

Chen Ou was born in Deyang, Sichuan. His parents were first teachers, and later turned into civil servants. To learn first, to be outstanding is what his parents expect of him. When he founded the game company, he was said to be out of business by his father. His father went to Singapore to persuade Chen Ou.

　　 Chen ou Standford said that the biggest gain was to broaden his horizons. Before learning computers, he found to some extent that he could not write anything but Standford. He taught him marketing, business management, finance, accounting and capital markets. "From the very beginning of the three people to the thousands of people today, they are not lagging behind. This is because I have the ability to understand and understand before I have a mental framework."

Looking back, Chen Ou felt that he had chosen Standford correctly. "Maybe I could only bring the business to 300 million or 500 million dollars. But today, I can bring the United States to $3 billion, bringing the company to ten billion or twenty billion dollars. I can see hope.

But reading to Standford also cost him: the first start-up company was taken away. This experience left Chen Yu a warning that if a company had no healthy equity structure, it would be difficult to guarantee that it would not be a problem in the future by relying on its simple trust in people.

In the United States, Chen Ou's shareholding ratio is 35.8%, its personal wealth reaches 1 billion 380 million dollars, and its voting power is 75.8%. Its founder, Mr. Dai Yu Shen, has a shareholding ratio of 5.6% and a voting power of 11.8%.

Before the listing, Ju Mei rarely raised money. The $13 million was not big enough for the electricity supplier to burn for 1 days. However, too much money would make Chen Ou get lost and put too much pressure on him. "I want to prove that in the field of electronic commerce, it can be done without much money. Can I just bring in 10 million dollars to bring the company on the market and make money? This is a challenge, otherwise it is price war, burning money and financing. In fact, I am constantly proving that my road is different.

The financing of this listing is US $400 million. Chen ou will integrate the supply chain and establish direct agency and distribution relationship with more brands so as to get rid of misunderstanding and doubt. This is Chen Ou's most concerned work now. He said: "the cosmetics business is a natural area that is not trusted. It is very difficult for the United States to get one hundred percent of the trust. When Taobao was just emerging, consumers were questioned about online shopping. They even worried that they would be cut off by spending money. And the US will become more transparent after listing, and the openness of all financial and business practices will be very helpful to win the trust of consumers and industries and win the trust of the media. Moreover, as a listed company, the United States will have greater strength to integrate the supply chain. Our most important task now is to talk about China's exclusive agency with many international brands. The United States will be the general agent of many brands in China. I believe that the problem of authenticity can be solved easily, and the trust problem can be solved easily.

Chen Ou is pushing a set of anti-counterfeiting code system, through the brand agent in China, affix the anti-counterfeiting code to the product, and use this anti-counterfeiting code system to solve the industry problem 100%. "With the anti-counterfeiting code, consumers can go to the official website to authenticated. Our industry is very painful and seriously skeptical, so we need to reform from the industry rather than just prove innocence. I think this is the biggest significance of the United States listing to the industry.