Pang Shengdong: He Once Bought 980 Thousand Domain Names For Ma Yun Working 51.

On August, on the yacht of the Huangpu River in Shanghai, Pang Shengdong, chairman and CEO of 51.com network, just passed his 30 birthday.

The neon lights on both sides of the Bund may give Pang Shengdong some emotion. He looks forward to the flag of "standing at 30 and sailing on the yacht", showing a longing for the future.

In 10, the young man who was born in Zhejiang Tiantai ordinary family accumulated a lot of wealth by doing web pages, creating websites and investing in real estate.

The 24 year old millionaire, a 28 year old multimillionaire, created a legend of speed.

Most importantly, he has almost no experience of failure. It seems that success is a site waiting for him to arrive.

The entrepreneurial gene of the top student, Pang Sheng Tung, had never walked out of the small Tiantai County before entering the University.

In 1977, he was born in a rural family. His mother was an optimistic and kindhearted rural woman. The name "Sheng Dong" was taken by his mother, and the parents who were struggling with hardships wanted their son's future to be like dongdongsheng.

After a few years, Pang Shengdong entered Ningbo University's economics department with distinction and started his university life.

Compared with others, his university life is colorful.

He studied economics, but he often went to the library to read books on history, philosophy, and writing.

In his office today, he also kept his half man high reading notes.

Pang Shengdong, who was a university student in the University, showed his commercial talent.

He is very active in drama. He is a literature and art Minister of the university student union. He often writes plays and plays a role in his spare time.

In order to make equipment for the drama team, he moved his mind to the enterprises near the school and was ready to give some support.

In general, students are always sponsoring in the form of banners and posters. Such unattractive ideas are hard for enterprises to pay.

Pang Shengdong had planned an absurd drama. Some people would jump out and read some advertising words that had little relationship with drama.

A manufacturer of glasses for myopia treatment is very optimistic about his ideas, generous to give him 2500 yuan, and promised long-term cooperation.

In fact, they sold glasses very well, and many of them thought it was fun, so they went shopping.

Pang Shengdong looked a little complacent.

In 1997, he predicted the most promising business models in the next 10 years: private hospitals, private schools, real estate, state retreating, and the Internet.

In June of that year, he joined the other 6 people in the use of Netscape browser, and received the Internet operator qualification certificate of the Ministry of labor in E-mail examination. He was the only student not a computer department.

In 2007, he looked back at these prophecies and his actions, and you had to admire his eyes.

He also wrote dozens of pages of business planning book "Jia Jia group" for his future entry into real estate. When he wrote his graduation message book, he also signed many names: the chairman of an Jia group.

Although he did not choose the real estate industry later, he also made a lot of money in real estate.

Pang Shengdong, a young man with a race against time, said he favors 3 industries: Internet, real estate and advertising.

In March 1998, he joined Ma Huang's China Yellow Pages company as a part-time salesperson.

At the bottom of the 9 month life, he and Ma Yun had no chance to meet once. "At that time, the general manager was Ma Yun on the brochure of the company. I also wonder why this person looks so small."

At that time, his life condition was to make websites for government departments and enterprises, a website with no connotation, and a few simple web pages would make a lot of money.

This also stimulated his ideas.

At the end of 1998, Pang Sheng Tung was pferred to the Ningbo municipal planning and Economic Commission. He was responsible for seeking financial information from the Internet and participating in the construction of Ningbo information network.

He said, "at that time, it was very idle. We could work half an hour a day."

A leisurely and carefree work is a blessing for those without ideals, but a painful experience for those who value their time.

Every day, he spends a lot of time reading and studying, and since then, he has started his own website.

"I have a middle school classmate, I read a heating specialty in Donghua University, Shanghai. I read this cool professional, but he took many certificates such as building auditing, accountants and so on in his spare time. I was stimulated by him and I couldn't waste my youth!"

Pang Shengdong said.

In those years, he made several personal websites, and quickly summed up his experience after failing a game website he set up: to make a career, he must make a good strategy, build a good team and perform well.

These experiences made him never get any further detours in his future career.

Around 1999 years ago, some foreign advertising companies, in order to develop the Chinese market, have been looking for some websites in China to advertise their advertising. The advertisement is based on CPM billing (the cost of exposure per unit number), and the profit is generally $1-2 for a thousand exposures.

Because he was not good at technology, Pang Shengdong found several friends to do technical support. After a period of hard work, he finally made up a personal website in May 1999 and contacted an American advertising agency, where he earned $more than 10 thousand.

This is the first barrel of gold he earned.

Since then, Pang Shengdong has built a winning network of securities (later changed to sincere securities) and "home of the stationmaster".

As a result of providing free information to the majority of shareholders, the sincere securities network has won a good reputation, and the traffic volume is increasing.

"Why not add a pay column, and provide VIP services to some professional investors to earn their money?"

Pang Sheng Dong had a brainwave and decided to try it out.

After 2 months of statistics, he found that this model is feasible.

As a result, he accumulated all the customer base of the webmaster's home and tens of thousands of loyal and free customers who had made mailing lists to the sincere securities online.

Because the stock market is good, there are no competitors in the market, plus the excellent products provided by the cooperative consulting organization, on the day of the charge of the sincere securities net, there are tens of thousands of Yuan's income and become Pang Shengdong's "rocking Qian Shu". In just 3 years, he made millions of RMB through the website.

In March 2005, Pang Shengdong, who was reluctant to go to Ningbo, began to search for new investment projects in Shanghai.

More than ten years in Ningbo, he took his family and moved to Shanghai decisively.

At first, he wanted to be a navigation and classified website. But after inspecting some famous Blog websites, he focused his attention on 10770.com in Fujian. This is a dating website. There are about 100000 registered members, and the average number is more than 2000 online per day.

Through the ranking of the world's best websites and some forward-looking analysis, Pang Shengdong found that future dating websites should be a good market and soon decided to invest.

After a long negotiation, Pang Shengdong bought the website at a high price, and bought the domain name "51.com" from his friends with a big 980 thousand yuan. He believed that short and easy to remember domain names were easier to promote.

He showed no hesitation. In the early stage of tight liquidity, he let his wife sell their property, and a set of funds for the house to sell became a bargaining chip for 51.com.

"At that time, the sale of the house was soft. My wife knew me in junior high school. I have always believed in my eyes for many years, and she has no opinion to support my career.

Because mortgage pactions are slow, we only sell to people who buy houses in cash, so sometimes they can only be sold cheaply.

But my wife still found some reason to stay in two houses, which may be the way for me.

Pang Shengdong smiled and said that in addition to showing his wife's support for their happiness, there was no sign of great pressure at that time.

In fact, at that time, making friends website is faced with competition from many giants such as Tencent, which is not a blue ocean without giants.

There are several lions on the grassland. The lion of the Tencent is very fierce and has a very large layout. The 51 nets are just small leopards. They eat hard in the corner, keep a low profile but grow at full speed.

Do not say that my lawn is so rich. After two years, I destroyed all the lions. Someone made such a mistake.

The lion may find the leopard in two months. We must fight for it.

Pang Shengdong thus compares the 51 nets at that time.

Luckily, though QQ has launched the dating business very early, the business has been ignored, and 51.com has seized the hearts of users.

At that time, the 51 network was aimed at building a human network.

In 2006, Pang Shengdong changed the logo of the website to a red bat.

"From the Chinese culture, bat is a symbol of bliss, and the red is" Hongfu ". Besides, bats are gregarious animals. They look cool, and they are very consistent with the users of our website at night.

Pang Shengdong explains the red bat on his website.

The fact that he has a unique vision and execution speed has brought him good luck again.

In May 9, 2007, 51.com received a total investment of $12 million from venture capital funds such as Intel and Sequoia China.

So far, the 51 network already has about 85000000 users, and has become the top ranking dating website in China.

Advertisements also come in a rush. PepsiCo, Huicong and other companies all focus on the 51 networks.

"If you want to sum up the successful experience, I think this is a very important one. Our team is very well built, and the rate of staff turnover is very low. From 2006 to the present 200 companies, only two people left voluntarily, we are very attractive to all Internet Co talents."

Pang Shengdong said with a smile.

He is looking for talented people everywhere. For example, COO Wang Xinghua, who was dug up in 1991, graduated from the University of science and technology in China. He worked as a senior middle school student in the Chinese Academy of Sciences, foreign media company, and a well-known IT company in China. From excellent programmer to senior management, he had 15 years experience in IT enterprise operation.

The management team is strong, and the company culture is very humane. For example, every day, 3:00-3:30 has half an hour's rest time. Every year, employees must bring their family members to take a physical examination, reimburse 2000 yuan for physical examination, and pay a fine of 20 yuan without their family members.

This policy makes employees feel the affinity and cohesiveness of enterprises at all times, which is rare in the new Internet Co.

"In the physical examination at the end of 2006, a worker's mother found out the early stage of the tumor. The doctor said that he would not be saved half a year later.

Now his mother's operation was very successful, and everyone began to take the family member's medical examination voluntarily.

I hope to create a harmonious and healthy corporate environment.

Pang Shengdong carefully told the reporter that he took out his college diary, with a paragraph about the creation of harmony and several key lines.