How To Express Your Thoughts And Thoughts By Racing And Consumption

Recently, it has been reported in the industry that spark thinking, an online education enterprise, has recently completed a financing of US $150 million, which is another round of financing obtained by spark thinking after it received $30 million of financing from quick start battle at the beginning of the year. After the completion of this round of financing, spark thinking's post investment valuation has officially entered the unicorn line. In this regard, spark thinking said that all official information shall prevail.

It is understood that spark thinking has completed several rounds of financing since its establishment at the end of 2017, and the company has been recognized by IDG capital, Shanhang capital, Sequoia Capital, Jinshajiang venture capital, etc. It is worth noting that Shanhang capital led the investment in round B financing of spark thinking in May 2018, and carried out additional support in the following three rounds of financing.

"We want to be whalers and seize the high growth opportunities of some big tracks. We will continue to invest more in early projects that are very promising. " Xu Shi, founder partner of Shanhang capital, told the 21st century economic report.

It is understood that Shanhang capital was founded in December 2015 by Yang Haoyong, founder of ganji.com and CEO of cheduoduo group, and Xu Shi, general manager of Netease mobile Internet department. Since 2016, the Institute began to pay attention to the layout of education track, and invested in spark thinking, whale foreign teacher training, walnut programming and other projects. At the same time, in the field of travel and consumption, Shanhang capital has invested in the ideal car (stock code Li) which has just been listed in the United States recently, as well as famous companies such as flash delivery of local distribution platform and Yueke relx, a brand of electronic cigarette head.

Systematic layout, education and consumption track

On the evening of July 30, ideal automobile's IPO on NASDAQ became the second new force company of China's automobile manufacturing listed in the United States, and Shanhang capital also gained its first IPO project. It is understood that in 2017, when many mainstream investors were still waiting, Shanhang capital and Yang Haoyong jointly invested hundreds of millions of yuan in ideal cars. For Shanhang, which was founded at the end of 2015, this is not a small check. Subsequently, in early 2018, Shanhang capital again invested in the ideal car.

If we say that the layout of Shanhang capital in the travel track is the home of Yang Haoyong, who also started his business in the travel track, then the investment in education and consumption is Xu Shi's strong point.

It is understood that Xu Shi once founded the mobile Internet business department in NetEase. She is the founder of Netease News app. She has created nearly 400 million users from 0. At the same time, she has led the development of such apps as Netease open classes. As the product director of the first generation of online education, Xu Shi realized the significance and commercial nature of educational products to families. "Education and training is a service industry with strong social value, rigid proportion of family expenditure and high growth of track." Xu Shi said.

According to the internal analysis of Shanhang capital, there are more than 600 listed companies with a market value of more than 10 billion US dollars. Based on the research on China's economic structure, the team analyzed the possible digital opportunities in each track. In the view of Shanhang capital, only through technology driven industrial restructuring, will there be structural opportunities, and there will be large trading platform, service platform or big brand. There is no doubt that education is another track with these conditions. Moreover, education is also a counter cyclical track, able to counter the downward cycle of the economy.

In Xu Shi's view, the advantage of online education lies in that it is a real supply side reform driven industry. In the past, the development of educational resources across the country was not balanced. Now, high-quality educational resources are moved online through technical means, and through standardized data tracking and product training, all products can be structurally transmitted to users, so that ordinary families can also get good education services. In the past, the extracurricular training industry itself was a trillion level track, and parents were willing to pay for it. Now the mature technology of audio and video live broadcast can bring good experience while moving education online.

As a result, in the education track, Shanhang capital invested in spark thinking, whale class, walnut programming and other companies. Among them, spark thinking has developed to the unicorn level, and whale class has become a very leading company in the development of one to many fields.

In the field of consumption, Shanhang capital has its own systematic research methodology. The team is disassembled from the aspects of new technology evolution, new crowd change and new supply chain reform, and systematically constructs the logic of investment in consumption field. As a result, Shanhang capital will not only invest in new consumer brands such as Yueke, but also pay attention to the logistics infrastructure needed behind consumption, and invest in the flash delivery of local distribution platform.

Establishing trust relationship with entrepreneur's thinking

"We hope to build up a great" Captain "and seize some big opportunities for high growth. We will continue to invest in early projects that are very promising. Maybe half of the fund is used to follow the best projects that have come out. " Xu Shi said.

Shanhang capital is not stingy in the early project to continue to add, and in most of the early project has one of the board seats. For growth projects, although Shanhang capital can not rely on the size of the capital to occupy a higher share, it will bring practical help to the company to win trust and improve influence.

Xu Shi explained that in the process of development and growth, startups often encounter various problems, such as how to deal with high-level talents, how to deal with team corruption, and how to deal with unfair competition behaviors of competitors. Many investors have no experience in starting a business, so it may be a bit ungrounded to help out with ideas.

"It is easier for us to understand the real problems of entrepreneurs and those who have experienced real experience to solve them." Xu Shi said.

Successful entrepreneurs can be supported by different venture capital groups in the network. For example, Yang Haoyong, the founding partner of Shanhang capital, is also the CEO of cheduo group. His past experience in brand war has made him understand brand strategy very well, which has reference significance for guiding start-up companies to improve marketing efficiency.

As a result, Shanhang capital has provided suggestions for the flash brand advertising strategy, helped the early financing of ideal cars, and provided partner level talents for more than a dozen companies such as Yueke. These also help to establish a deeper trust relationship between the fund and the invested projects.

"From the perspective of the fund itself, it may be easy for some large-scale comprehensive institutions to invest hundreds of millions of yuan in start-up companies. The investment of tens of millions of US dollars by Shanhang capital may not be a lot for some head companies, but it is already a very heavy project for our fund, which also represents the determination of the organization. Our partners use their own money to vote. When the overall size of the fund is not so large, the specific proportion of funds willing to invest in projects also reflects the importance of the institutions. " Xu Shi said.

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