Wang Xing: How To Achieve Vitality In O2O Wave

For the future pattern of O2O, Wang Xing believes that small platforms can never win the big platform, but there are still opportunities to survive vertically.

At present, it is the time for platform enterprises to compete. However, when the overall situation is fixed, the latter will not want to squeeze into the platform competition, but will do something vertical.

At this time, if it can do well vertically, you can't contain it.

"Any enterprise, as long as the changes in internal organizational capabilities can not keep up with the speed of external environmental changes, death is sooner or later."

The US group network founded by Wang Xing is the star company in this wave of O2O.

Last October, the US group and the public comment announced the merger.

In January 2016, the new company completed its financing, and the amount of financing exceeded 3 billion 300 million US dollars, which exceeded the 3 billion dollar financing of the domestic taxi service start-ups.

Its latest valuation is more than 18 billion dollars.

After the merger, there is no doubt that Zhang Tao has faded out and Wang Xing has become the CEO of the new company.

Earlier this morning, Alibaba's sale of the US group's comment on equity was mentioned again.

According to the Wall Street journal, Alibaba has agreed to sell us group and public comment stock, worth about $900 million.

In the interview, Wang Xing described the relationship with Alibaba: "our relationship with Ali has nothing to do with our relationship with other investors. It follows the business rules.

It is said that they are the last person to agree in a quick merger. "

For the future pattern of O2O, Wang Xingze believes that small platforms can never win the big platform, but there are still opportunities to survive vertically.

At present, it is the time for platform enterprises to compete. However, when the overall situation is fixed, the latter will not want to squeeze into the platform competition, but will do something vertical.

At this time, if it can do well vertically, you can't contain it.

"Never be too confident."

Wang Xing said.

Dialogue is divided into two parts according to business and non business. You have seen more about the former, but you may not be able to see Wang Xing about yourself.

About business and company

Q: is the US group still likely to die in today's volume? If so, what is the reason?

Wang Xing: Yes.

Any enterprise, as long as the change of internal organizational capabilities can not keep up with the speed of external environmental changes, death is sooner or later.

Q: will the emergence of the US regiment and the drop of such a huge but unlisted Unicorn company bring about changes in the internet order dominated by BAT?

Wang Xing: I think there is no essential change in the competition rule in the Internet field. This is always the case. Instead of squeezing out the original people in the original field, the new battlefield expands, and the new players occupy a new battlefield.

Innovation is always at the edge.

But in the Internet and non internet fields, new combinations are emerging.

Take the online tourism industry as an example, where the Ctrip merger will take a look at the overall situation, but Hainan has invested in the way cattle and Wanda investment in the same way. With the entry of the traditional giants, the industry will produce new changes.

Q: how do you view the 58 competitors who are so focused on door-to-door service? Will you enter another field in the future?

Wang Xing: Time is everything. a lot of things are not simply right or wrong, but when you are doing it.

Door to door and home, eat this demand, its growth, its ready level is much stronger than cleaning aunt.

So I don't think this time we have to set up our own line of aunt team.

Q: are there any future opportunities for the vertical giant in the O2O field?

Wang Xing: small platforms can never win the big platform, but there are still opportunities for survival.

Q: is the US group more worried about the competition of platform O2O companies or vertical?

Wang Xing: This is a good question. I think this stage is first of all platform type.

When the overall situation is fixed, the latter will not want to squeeze in the platform competition, but will do something vertical.

At this time, if it can do well vertically, you can't contain it.

Q: if you win in the O2O war in five years, what do you think will be the key to winning?

Wang Xing: I think it is still a strategy and implementation. This is a very empty word. In fact, strategy is very important.

Q: what did I give up when making strategic adjustments or choices?

Wang Xing: Yes.

For example, we originally wanted to try business WIFI, but later found that WIFI had demand, but there was no very mature solution.

First of all, we need to ensure user experience and ensure that our efficiency is higher than that of our competitors and then follow up.

You have a great judgement of strategy, but not every detail you can think clearly.

Suppose your eyesight can only be seen one kilometer. If two people compete for 1.5 kilometers, they will not stand at the same place.

You go forward for five hundred meters and your eyesight is constant, and you can see 1.5 kilometers.

Q: how far do you think you can see now?

Wang Xing: we will adjust this matter at any time according to the new input, and never be too confident.

Q: what is the next product planning for the new company?

Wang Xing: we must make the content richer, because we hope that we can provide consumers with more, better and more fun.

I believe that the high level of playing chess is totally lacking in skills. You really can think very well.

Q: what is the logic of the US business expansion?

Wang Xing: for example, though we are the first in the movie, we don't think the war in this industry is over.

On the one hand, we continue to expand our market share, and on the other hand, we have more participation in the industrial chain and the value chain.

Takeaway is also 2 million 300 thousand times a day (the latest figure is 2 million 700 thousand), but it is still very early compared to the size of the potential market.

So in the field of takeaway, we will not do business. We will also involve distribution and even support upstream suppliers.

Q: at the beginning of 2015, you proposed to do ecological construction.

Wang Xing: just start.

First, you must have something to share with others; second, openness is not a simple mindset, but a capacity problem.

Whether it is from team awareness or product technology preparation, there is a need for a process.

Not everything needs to be an ecosystem. It needs different species and different roles in the ecosystem. If you pursue single maximization, you will not form.

For example, Uber is a good platform and good service, but I think it can not be called ecology.

We try to go in that direction, but we need to make it better.

For example, Jacob wrote the death and life of big cities in the United States, mainly taking New York and other big cities in 50s and 60s as an example to illustrate how cities are alive.

One of them is very important.

The other is that the age of the building is different. If the age of the building is the same, the cost is almost the same. The rent requirement is almost the same. Different formats have different bearing capacity for the rent. If you fully pursue the rent maximization, then the street may only open some kind of shop, which is maximized in the short run, but there is no ecosystem.

Q: apart from species diversity, what is lacking in the ecological mechanism of the US mission?

Wang Xing: what I think is obvious, I estimate that it has been made up or changed, so there are some things I feel, but I can not fully quantify them.

Q: one of the doubts about the US delegation is that your business pformation and penetration is not deep enough.

Wang Xing: everything is a process from low to advanced.

In the early days, we only took the merchants who sold and sold the original line to carry out the takeaway and moved it up. Because of the formation of the market, we had the opportunity to cultivate new supply with the new demand.

Next, you will see a lot of new takeaway vendors that are completely out of existence and are completely based on the Internet takeaway platform.

Before thousands of years, the biggest thing is Lihua's fast food has been doing for more than ten years. Now, because of the American takeaway platform, I think that the competitors of Lihua Fast food will appear a lot faster.

Q: another question is that it seems that your relationship with your shareholder Alibaba is not always good.

Wang Xing: the relationship between us and Ali has nothing to do with our relationship with other investors.

In a quick merger, they are said to be the last to agree.

Q: do you think you are good at guiding trends, making rules, or being better at breaking through other people's rules?

Wang Xing: it is our "three high three low".

We firmly believe that we should focus on the customers and customers want high quality and low price. Then how can we provide him with these things? Because we can not complete the service alone, we are an intermediate platform, so we need to achieve low cost and high efficiency in our operation.

How can we achieve low cost and high efficiency? On the one hand, we rely on management, on the one hand we rely on our employees to work hard, and on the one hand we rely on high technology, so the third is high technology and low gross profit.

Depending on high technology and IT system, we hope to make our huge organization spread all over the country. Because of the local management, the whole complex process can go smoothly.

At the same time, we do not think that high technology must be high margin.

Platform based business models, because they can be done on a large scale, do not require high gross margins, and they can also be of great value.

If it is low margin plus small scale, there is no great value, but low margin plus large scale will have high commercial value.

The essence of all retail is like this. WAL-MART is like this. Amazon is also like this.

Q: but WAL-MART is now being surpassed by Ali.

Wang Xing: I think this is Ali's very successful public relations.

Trading volume is one side, on the other hand, how many links have you made in this matter, Ali is a very successful company, but still can not prevent the rise of Jingdong.

Q: colleagues believe that you look very passive in marketing.

Wang Xing: the main reason is that the competition is too intense.

About individuals, life and past

Q: what was the last time I got angry?

Wang Xing: data is not accurate enough.

Q: what was the last anxiety?

Wang Xing: I always have moderate anxiety.

Q: what are your ways to vent your emotions?

Wang Xing: reading is also a good way to read. If you look at some historical books, such as the history of human beings, and the appearance of life and human beings, you will think that all the things you encounter in such a long time dimension are all the trifles.

For example, if you are assuming that you are looking at the earth on the moon, you must be concerned about other things, not the first attention to the fact that there is a person in an office in Beijing who is worried about Wang Xing, and these are relatively small things.

Q: how do you look at your weaknesses?

Wang Xing: if I were more aggressive, maybe it would be better.

Q: most of the time, from

In all previous decisions, people feel that you are conservative.

Wang Xing: I am willing to accept risks, but I do not want to take unnecessary risks.

Q: what are you intolerable for?

Wang Xing: This is a very interesting question. There are many simple answers, but I don't think they are the most important ones. I can simply answer my zero tolerance for corruption, but I do not say anything.

Q: why do you have to succeed when you have started business many times?

Wang Xing: I really did not pursue the so-called success as the purpose.

Q: what does your motivation come from?

Wang Xing: I like Gandhi's sentence very much. Be the change that you want to see in the world, I think the world should be like this, it should happen, then you do not wait for others to let this change happen, you can actively promote this change.

Q: how long do you spend thinking about things every day? Are you really thinking about a thing?

Wang Xing: there is not much time for real high quality thinking.

Q: position yourself in 2-4 words.

Wang Xing: curious, I am curious about everything.

There are four types of players in MMORPG: one is exploration, one is achievement, the other is destruction, and the other is social.

I am an explorative type.

Q: tell me a little story that will make you feel deeply in the process of starting an undertaking.

Wang Hing: on the 4 day of March 2011, the US delegation opened the first conference, and talked about what we are doing and how big the industry is. At that time, we said at least 90 billion, most of the media did not believe it.

But facts have proved that the speed of development is even faster than we think.

At that time, when I told you about this matter, most people did not believe that even if you were speaking in a very logical way, most people would not be willing to think deeply about things.

Q: why do you think they don't believe this?

Wang Xing: there is a very good saying. "Most people are willing to do anything in order to escape real thinking." this sentence is cruel. Most people are willing to do anything in order to escape real thinking.

Q: do you see things you can't see?

Wang Xing: it's hard for me to say what others can't see. I see it. On the contrary, I worry about many things that I should have seen.

Q: what do you think is the biggest misunderstanding of others?

Wang Xing: I don't know and I don't really care. the first thing is to do make things happen, second rate is to evaluate others or others to do things, the three is to evaluate others' evaluation.

Q: why do naked things that are very close to business do better than before?

Wang Xing: you have to believe that I am still learning to grow.

First of all, I firmly believe that the Internet will change all industries and will have different forms of expression for different industries.

From my point of view, I don't think there is any essential difference between what we have done, or that it has no difference at a more essential level.

Q: many people say that you have never made any subversive things?

Wang Xing: I agree that not everything I do is one hundred percent original, which is not what I pursue.

You may have a slight understanding of invention, innovation and creation. Originality is one thing.

Take the most exaggerated example. You write an article with every word in the Chinese character code. What you do is display a different idea by rearranging the combination. You don't create any Chinese character, but your creation is arranged at the level of combination, which in fact reflects your judgement.

Users are essentially concerned about who can better satisfy his needs, rather than who uses completely different ideas.

Q: some people think that the US regiment is too mediocre and lacking in innovation, which seems to be inconsistent with your geek identity.

"I don't think I have to do this, or I must meet certain expectations."

Q: do you still program?

Wang Xing: not recently.

In the second half of 2014, I tried to compiling a software for myself, but I had no time to finish it at last.

I am not satisfied with all the dictionary software. I am a heavy user of a dictionary, because I read a lot of English materials, and I have encountered many English words, so I want to solve this problem, but later I find that time and energy are not enough.

Q: how to look at the past?

Wang Xing: I share a story: a Korean American baseball player.

There are brilliant achievements, but sports is a very competitive field. People think he will go downhill. Others ask him that you have been up in the past and may be down at a certain age. What do you think of it?

He gave a very concise answer. He said that the important thing for him is not necessarily upward or downward, but the key is that he is moving forward.

Q: why don't we persist in the past several business hours?

Wang Xing: not all things insist on OK.

The most important thing in life is not only to persist but to know when to give up.

When most people insist on not going down, it is not that I should insist on this matter, but I can not persist. Instead, he suddenly finds out why I need to persist.

Most of the abandonment is like this.

Q: what changes do you think you have now and before?

Wang Xing: more patient than before.

Generally speaking, I prefer new things. If I have new information input or give me new ideas when I discuss with others, I will be more excited. If I just tell people what I want, I will hope to finish it as efficiently and quickly as possible.

Q: what efforts have been made to change yourself?

Wang Xing: enhance communication frequency.

I think people's change is on the one hand input from the outside world. On the other hand, when you realize this input and accept this input.

Q: it looks like a very conventional way.

Wang Xing: is there any unconventional way?

Source: titanium media Author: Song Wei Chen Qingchun