Wang Shutong'S Success History: From Excellence To Dunhuang Network

Wang Shutong, a professional beauty manager who once worked in Microsoft and CISCO, became the CEO of excellent network. After 6 years of silence, Wang Shutong and Dunhuang started her debut. In 2000, Wang Shutong, a professional professional manager who worked in Microsoft and CISCO, became the CEO of excellent network. Under her leadership, the performance of excellent network has exploded. In less than 1 years, Wang Shutong became the famous person in the Internet industry.

But when the excellent network developed smoothly in June 2002, Wang Shutong suddenly resigned, and the insiders expressed regret after being surprised.

After 6 years of silence, Wang Shutong has repeatedly become the focus of media attention, and Wang Shutong's shining debut is the Dunhuang network which she founded. The e-commerce website has already got two rounds of financing, and its sales revenue will exceed US $200 million in 2008.

The reason why Dunhuang network can stand out in countless e-commerce websites is mainly because Wang Shutong has caught the "long tail" of e-commerce, providing online trading platform for small suppliers and small purchasers, and Dunhuang network has changed the micro ecology of retail industry in some areas. Analysts say that Obama and Mccain may not be able to help "plumber Joe" to succeed in business, but that Dunhuang network can provide them with an entrepreneurial procurement platform.

Wang Shutong is one of the most famous women entrepreneurs in the field of Internet e-commerce.

In 2000, Wang Shutong resigned from CISCO and became the CEO of the Internet website, which is the most popular e-commerce website. The background of excellent network is very unusual. The major shareholder is Lenovo holdings and Kingsoft. This website started to aspire to become China's "Amazonian". Because of this background, the beauty CEO of Wang Shutong attracted numerous eyeballs.

Under the leadership of Wang Shutong, the business of excellent network has been growing rapidly. In 2001, when the Internet bubble burst, the business growth of excellent network is still more than 100%.

But in August 2002, when the excellent network has been developing vigorously, Wang Shutong, who has become one of the iconic figures in China's Internet industry, abruptly resigned and resigned from the position of excellent network.

The news shocked the Internet community at that time.

Since then, Wang Shutong has vanished from the perspective of people.

Wang Shutong did not return to public view until October 2008.

DDT has released the list of "high tech and high growth China Top 50", one of which is the "Dunhuang network" e-commerce company, ranking seventh, and the founder and CEO of this website is Wang Shutong.

The growth rate of the Internet industry is so fast that Wang Shutong's Internet industry has undergone tremendous changes since he left the public view for 6 years.

The 3 portals of sina, Sohu and NetEase have entered a stable growth period, and the net profit has been tens of millions of dollars every quarter.

Around the year 2001, Alibaba network, which has the same reputation as the excellent online name and the same e-commerce field, has become the largest e-commerce website in the world with a market value of tens of billions of dollars.

A large number of new business models, such as Ctrip, Shanda and Baidu, have also become the stars of the spotlight.

In 2008, the market environment faced by Internet enterprises was not the same as that in 2002. The world financial crisis became more and more intense. Nasdaq's Chinese concept shares fell sharply, and China's export situation was quite serious. In this context, Wang Shutong reappeared again with the identity of the entrepreneur, and she is undoubtedly facing more challenges and pressures.

In the face of these changes, Wang Shutong did not think so.

In fact, in the third years of "Seclusion", Wang Shutong has gathered a small group of more than 10 people and founded the Dunhuang network.

Despite the fact that they are all e-commerce sites, the business mode of Dunhuang network is very different from that of the excellent network. It is also very different from Alibaba network. Alibaba's main profit point is to collect membership fees and advertising fees through information display.

The Dunhuang network is not only a display platform for small and medium enterprises, but also provides a trading platform between buyers and suppliers to intervene in the paction itself.

The clear business model and excellent entrepreneurial team of Dunhuang network have attracted the attention of venture capital. The company has won two rounds of famous VC financing such as Kai Penghua, Ji Fu and Asia. The growth rate of the company is amazing. The sales volume in 2008 is expected to exceed 200 million US dollars, 100 times when it was founded in 2005. There is no doubt that Wang Shutong will return to the spotlight center, whether willing or not.

From Microsoft professional manager to CEO, Wang Shutong has entered Microsoft Corp as an important node in his career.

Wang Shutong, who graduated from the Beijing Institute of Electronic Engineering in 1993, worked as a teacher at the software development and research center of Tsinghua University. But Wang Shutong could not remain idle. After serving briefly in a foreign company, he saw a Microsoft Corp recruitment notice in a newspaper. At that time, Microsoft Corp was not well-known enough in China. Wang Shutong successfully passed the 3 round of interviews and became the first batch of local professional managers in Microsoft Corp.

In the early days of Microsoft China, the main product is MS-DOS.

It is only a small office with only 6 people, the marketing department and the sales department two departments.

Although the scale of Microsoft China was not large at that time, the professional style of foreign companies still touched Wang Shutong deeply.

In the face of professionals from world-class enterprises, local professional managers are still somewhat immature.

Wang Shutong, the boss of Taiwan, told Wang Shutong that he had to work hard and study hard, and said that such a gap also existed between Taiwanese and Europeans and Americans.

These words are very useful to Wang Shutong. From then on, she became a hard working member, working 7 days a week, working overtime to 11 or 12 points every day.

Wang Shutong is the first and fastest promoted local professional manager of Microsoft Corp, and is the manager of Microsoft China company's career development department.

In the sixth years of Microsoft Corp, Wang Shutong's performance has been excellent. At that time, 1/3 of Microsoft Corp's $30 million sales in China were completed by the team led by Wang Shutong.

This achievement made Wang Shutong hope to find new challenges. She joined CISCO company as manager of marketing department in China. At that time, CISCO was at its peak. At that time, it was the highest value enterprise in the world. Wang Shutong became the only woman in the executive of CISCO China. The team led by her was named the best team in Asia Pacific region by the company.

Wang Shutong was not satisfied with the position of senior manager of a multinational company in China. After 1 years of working at CISCO, she chose to leave again and came to the outstanding network at that time, and started another round of business.

She made this decision very short time, "and Jinshan, Lenovo boss through several times the phone, each other feel very speculative, it is over."

Wang Shutong, frankly speaking, decided that the decision to join the excellent network at that time was that the main shareholders of this website were IT and software giant Lenovo and Jinshan, and they had the dream of starting their own businesses independently. Wang Shutong believed that e-commerce is a fast-growing industry with bright prospects for development, and at the same time, she has full confidence in her ability.

Wang Shutong is eager to make decisions and take responsibility. He hopes to apply his valuable experience in foreign companies for many years. She hopes that China can also have such an excellent enterprise.

When he arrived at the excellent network, everything started from scratch.

The former excellent network is a place for users to download games and software free of charge.

After Wang Shutong came, together with her team, after 2 or 3 months' full investigation and heated argument, he decided to start e-commerce.

With his years of experience in foreign enterprises and his courage and wisdom, Wang Shutong has survived the hardest days and quickly made the excellent network the first audio-visual shop in China.

The excellent "big talk Westward Journey" first launched the first online sale of audio-visual products, selling 5000 sets a day. The sales volume of Tokyo love story is equivalent to the total volume of two months of the Beijing audio and video wholesale center. The sales of Garfield in three months is equivalent to the total sales volume of 5 years in the Xidan book building.

In September of 2001, excellent network took the lead in realizing the balance of payments in that month.

Wang Shutong has become one of the pioneers in the field of e-commerce in China.

But unexpectedly, in August 15, 2002, Wang Shutong submitted his resignation and left the network of excellence.

This move deeply shocked the Internet industry at that time and was greatly surprised.

At that time, Wang Shutong did not announce why he left the network.

But 6 years later, Wang Shutong frankly said that he chose to leave the network of excellence at that time, mainly on the company's development strategy and shareholders have different views.

Two years after Wang Shutong left, the excellent network was sold to Amazon Co at the price of 75 million US dollars, becoming the Seventh International node of the company.

At the end of 2004 at the end of the year, Wang Shutong, who has worked as a regional executive in another foreign company, decided to leave and prepare to start a career in the field of e-commerce. Dunhuang network was born.

Different from the B2C mode of the excellent network, Dunhuang network has been positioned as the B2B domain of the service enterprise users at the very beginning.

Wang Shutong thinks that the maturity of foreign enterprise users is higher, and it can better adapt to the e-business mode.

The reason why Dunhuang network should be built into a platform similar to eBay is to avoid the problems of inventory, logistics and payment in the first generation of e-commerce enterprises.

When talking about B2B, Wang Shutong will often be asked such a question: "what is the difference between Dunhuang network and Alibaba"? Wang Shutong has provided such an answer: "unlike Alibaba's mode of collecting membership fees, online buyers and sellers in Dunhuang are free to register and distribute product information. Dunhuang network relies on pactions between buyers and sellers to collect different proportion of service charges.

In terms of technology and function, Dunhuang network is more like eBay, integrating seller and buyer resources, identifying trading rules and providing services with third party identity, but the difference is that Dunhuang network is facing the business market.

Another difference between Alibaba and the Alibaba is that the target size of Alibaba services is relatively large, and the goods are usually at a level of more than $one hundred thousand, and the goods are at least one container.

The Dunhuang network is mainly based on small buyers, and the paction volume is usually between tens of dollars and thousands of dollars. Wang Shutong called these small buyers "the long tail of e-commerce field": "Alibaba's service object is big B to big B, and Dunhuang net is small B to small B."

The reason why Wang Shutong chose small B for small B is that he saw a huge market prospect in this field. One end of the small B is China's more than 3000 million SMEs. Their manufacturing capacity is amazing, but the profit margin is limited. The export accounts for only 4% by e-commerce. On the other side of the small B, WAL-MART, Metro, Carrefour and other retail giants are buying and selling globally on the strength of their global network advantages, thus forming a strong impact on the local small and medium retailers.

Wang Shutong believes that the world is flat, and with the continuous improvement of information technology and logistics supply chain, the time is ripe to build a platform between small and medium-sized enterprises and small buyers.

The location of the website is right, but for Wang Shutong, the challenge she faces is just beginning.

The website was originally planned to go online in the summer of 2005, and more than a dozen of the teams have been set up, and the offices have been found, but a good deal of capital injection has been withdrawn at a critical juncture.

In May 2005, the investment that had signed the contract did not arrive on time. Wang Shutong flew to Shenzhen, but the other side had decided not to cooperate.

After returning to Beijing, Wang Shutong resolutely took out her savings. There were fewer than 10 people left in the team. She moved her office to the 20 square meter room in the IT Department toilet of her friend's company, and the Dunhuang network went on like this.

Finally, Wang Shutong met the first investor who agreed with her.

This person is Ru Linqi of KPCB.

In January 2006, after listening to Wang Shutong's presentation in Beijing China World Trade Center restaurant, Ru Linqi decided to throw money into Dunhuang net.

The investment of Kai Peng Hua Ying is very important. After that, the sales volume of Dunhuang network is rising all the way, and it can double in a few months.

Since then, ATLAS has also been inject capital into Asia and Europe.

Le Wenyong, who has decided to invest in Dunhuang network, is: "the reason why I choose to invest in Dunhuang network is not only optimistic about business mode, but also optimistic about Wang Shutong's entrepreneurial team. Wang Shutong has entrepreneurial experience. Her team members have many people from Hongkong and the United States who have had deep management experience. Such a group of people doing a website, I feel successful."

For the "plumber Joe", the company provides a platform for entrepreneurship procurement. At present, there are more than 10 million kinds of clothing, consumer electronics, accessories and household products available online in Dunhuang.