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In the past, the domestic e-commerce pattern was dominated by JD.COM, Alibaba and Pinduoduo. Others, such as Vipshop, Suning.cn, etc. Even if there are online channels, it is only to share a soup in the vertical category, or an extension of offline stores. Some people say that JD.COM and Taobao had the first-Mover advantage because they started early, but Pinduoduo's introduction refuted this point, that is, one of the enterprises with the first-Mover advantage once became a negative textbook.

This company is HC. Com, which used to be called "North and South" with Alibaba. When Alibaba just recovered from the cold winter of the Internet with the goal of making a dollar, HC listed on the Hong Kong Stock Exchange and became a 126 millionaire, with a subsequent market value of over 10 billion.

When Alibaba's market value is about 4.5 trillion yuan, HC Group's market value is only HK$ 654.38+04 billion, which is less than Alibaba's fraction. When Guo Fansheng, founder of HC Group, thought that Ma Yun didn't respect HC Group and called Ma Yun to apologize to him, it became a joke.

In the field of e-commerce, HC Group can be said to be the originator of China, which was established eight years earlier than Alibaba. At that time, Guo Fansheng, a university graduate, had been working in the system for nearly ten years. Due to the change of domestic business environment, he decided to go to sea. However, his road to entrepreneurship was not smooth, and he experienced three consecutive failures before founding HC.

It was not until 1992 that Guo Fansheng, 35, discovered that there were information gaps in many industries in the market. Some enterprises can't buy goods, while others can't find sellers. The cost of setting up HC commercial advertisement is148,000 yuan. More than 20 people rode bicycles from door to door to pull business. In three years, Guo Fansheng opened branches in 30 economically prosperous cities.

At that time, regardless of IT, household appliances and automobile industries, HC was asked to publish advertisements. It can be said that "without HC, there would be no business." Later, with the development of the domestic Internet industry, HC also established HC Network, which became the first business website in China.

The climax of HC Network was in 2003. At that time, HC Network had 4,500 employees and also completed its listing on the Hong Kong Stock Exchange. At the opening, the share price rose from HK$ 1.23 to HK$ 1.53. It is also because of the listing of HC Group that 126 people, including Guo Fansheng, became millionaires overnight. It stands to reason that HC should have a better development, but Guo Fansheng underestimated Alibaba.

In a commercial program in 2006, a young man said in front of Guo Fansheng that he thought that the most successful e-commerce field would not be HC, but Alibaba. At this time, Guo Fansheng immediately looked unhappy and replied, "I once won a great victory." . If I don't deserve the trust of this young man, how can Alibaba get his trust? The tone is full of disdain.

In 2007, Ma Yun declared that "even with binoculars, we can't find out where Alibaba's competitors are". This sentence made Guo Fansheng feel very disgusted and angrily criticized that there was something wrong with either the telescope or his eyes. And also asked Ma Yun to apologize. It's just that this matter finally went away. However, HC network has planted the bane of decline.

HC Network started from advertising magazines, newspapers and other businesses. This is the advantage of HC over Alibaba, but it is also the shackles of HC. Just as Kodak gave up digital cameras because of the film business, Nokia was reluctant to join the Android camp because of its own Saipan system. The business of traditional media made HC afraid to put too many resources on the Internet, and watched Alibaba's development on the Internet grow gradually.

Even more deadly, HC was conscious when the mobile Internet began to develop around 20 10. Later, more and more enterprises began to move from HC to Alibaba. HC's performance growth has almost stagnated, and its market value has been declining. The usual market value of HC Group no longer exists, and the market value of HK$ 654.38+04 billion is only a fraction of Alibaba.

Some people say that the primary reason for HC's decline is Guo Fansheng's arrogance, which can be seen whether he is dismissive of young people's actions or shouting that Jack Ma is sorry. However, the contempt for Alibaba also made HC pay a painful price. After the performance of HC Network began to decline, Guo Fansheng also stripped HC Network.

As usual, Guo Fansheng often appears in various business training forums. And also published some books related to enterprise management. I just don't know, if someone asks him about his experience in setting up HC Network, will he feel embarrassed?