Dinghui recruitment

Name: Zhou.

Occupation: qihoo chairman angel investor

Location: China.

Introduction:

In March 2006, he invested in Qihoo Company and became the chairman of Qihoo.

Angel Investment Fund was established in February 2006, hoping to help more innovative enterprises get development opportunities.

In August, 2005, IDGVC, as an investment partner, hoped to help many small and medium-sized enterprises in China get opportunities for rapid development through years of experience in China, thus promoting the development of the whole industry.

In March 2004, President of Yahoo China was fully responsible for the development strategy formulation and specific implementation plan management of Yahoo China and 372 1 Company.

1998 10 founded 372 1 company, and previously worked for Founder Group.

Education background: Master's degree in systems engineering from School of Management, Xi Jiaotong University.

Zhou Honghui: Investment and entrepreneurship are correct.

Zhou Honghui left Yahoo without eating the meat in the bowl. Now, Zhou Honghui's mission is to go deep into the grassroots and explore the future of the Internet.

"Current positioning: the first is a bridge, a bridge between domestic start-ups and venture capitalists; The second is a coach, who teaches the experience to the founder (founder) of the enterprise.

Zhou Honghui told reporters, "The third thing is to be a founder who is not the founder. I am not an investor hiding behind, which is also in line with my specialty and personality.

Zhou Honghui, the former chairman of 372 1 and the president of Yahoo China, has completed the transformation from a technical expert, an entrepreneur, a foreign company manager to a venture capitalist in just a few years.

Now, he is no longer busy running a business, and finding excellent entrepreneurs has become his greatest pleasure.

Entrepreneurial history: "Eupolyphaga sinensis" went deep behind enemy lines.

Well, becoming an investor is Zhou Honghui's third venture.

Zhou Honghui, a native of Hubei, was born in June 1970. 1992, Zhou Bao sent a graduate student from an jiaotong university. During graduate school, I compiled game software and anti-virus products, opened two small companies to promote my products, and recruited people to "build their own sales channels" throughout the country. The result ended in failure.

"The frustration of starting a business made me understand that I was missing a lot. I decided to go to an advanced big company and start learning from the most basic things. " 1After graduating from graduate school in July, 1995, Zhou joined Founder Group, working honestly as a department manager and general manager of the division from a programmer and project supervisor, and finally as the deputy director of Founder Center. After organizing the development of China's first internet software with independent copyright-Fangzheng Yangfei Mailbox, he once again had the idea of starting a business.

1998 10, Zhou Honghui established 372 1 website (Guofeng internet software company), starting with five people, and the technical team mainly came from Founder. At that time, the company had only one idea, no products, no market strategy, no brand and no business model. Zhou and his colleagues rented a cheap house, cooked by themselves, and maintained a minimum living standard, but several hundred thousand yuan were soon spent.

At this time, 372 1 just launched a "Chinese website". Fortunately, in July of 1999, Wang Gongquan, a senior partner known to Zhou, invested $250,000 in 372 1 and became an "angel" on the road to entrepreneurship. At the beginning of 2000, 372 1 carried out the second round of financing, and obtained more than $2 million in venture capital from Vantone, IDG and European CIV3 companies.

Zhou absolutely controls the enterprise, practices high-handed rule and is a workaholic. He can always find new functions, new collaborators and strategic and tactical goals for very simple products, and then execute them fiercely. "Zhou is really a beast. In order not to be bitten by him, I basically work after 1 1 every day, or sleep on the table in the conference room. Going home early occasionally, I can see the lights of street shops and feel particularly warm. " A former assistant recalled.

"The scale of early financing is too small. The company is tight, and I have been worried about survival. " Zhou Hong reflected in the future, "The mentality at that time was not particularly good, because the pressure of survival was great, and the pressure on the team, employees and themselves was relatively great."

After surviving the low tide of the Internet, 372 1 successfully established its own offline marketing channel, and its money-making business grew bigger and bigger. By the end of 2003, Zhou sold 372 1 to Yahoo at a price of $0.20 billion, turning himself into the president of Yahoo China, from an entrepreneur to a professional manager. In order to unite the old people of Yahoo China, he got drunk and broke his front teeth.

In some people's eyes, Zhou's transformation is purely a "terrapin" adventure rooted in the local Internet, "going deep into the enemy's rear".

In fact, although he made a profit for the first time in the history of Yahoo China in 2004, he left before the two-year agreement expired. It is estimated that he got 60% (more than 50 million US dollars) of the final selling price of 372 1, and real money is enough to make him among the richest people in China.

Many people are surprised that he left Yahoo "without eating the meat in the bowl". Zhou didn't want to explain at first.

"It turns out that in the Internet market in China, all American companies can't do it and must be local companies." Zhou Hongyi, who has established a career, finally announced the real reason for leaving Yahoo at that time. "I want to explore the frontier power of the future Internet in grassroots and startups."

"Re-employment" in the investment sector

After leaving Yahoo China, Zhou became a partner of VC (International Data Group Venture Capital Fund).

"No longer when Yahoo China President, mentality changed? Do you feel the warmth and coldness of people? " The reporter asked.

"The title is not important. The last thing everyone remembers is what you did. I worked hard at Yahoo just to do something for China Internet. When I realized that this possibility did not exist, I decided to quit. " Zhou said flatly. "There is a saying: after a long time in the rivers and lakes, living is the last word. If you live, you have a chance. It won't win forever, there will always be ups and downs. "

Although I have worked as an intern in the position of the boss of a foreign company, it is actually difficult to change the fiery temper of the "soil turtle". Zhou sometimes doesn't act like a billionaire. He emphasized that the environmental conditions were unsatisfactory, and he was more like a depressed scholar, fresh and angry.

At the same time, the investor's open work has gradually restored his entrepreneurial mentality.

"Come out this paragraph feel very happy. As soon as you come into contact with those small entrepreneurial teams, they are so energetic and creative. You feel ten years younger, and that feeling is very cool. " He told reporters, "I firmly believe that the dark horse that will emerge in the future is by no means a big company today. Future wave figures must be hiding in small companies that don't know where they are today. "

Zhou Honghui is the investment partner VP of IDG Venture Capital, who mainly plays the role of consultant and staff officer. "The purpose of my coming to IDG VC is to learn and learn investment skills." After half a year, he has mastered some specific investment skills and a macro grasp of the project.

Today, six months after officially entering the investment field, Zhou Hongyi has made new adjustments to its position.

Investors and entrepreneurs.

"What I have been doing is what angels invest: observing early projects and making judgments." He announced. "I am an angel investor now."

"Angel investment" usually refers to investors who invest in very young enterprises to help them get started quickly. In the field of venture capital, "angels" refer to the first investors of entrepreneurs, who put money in before the company's products and business take shape. Although the rate of return is relatively high, the investment amount is not large. Angel investment is generally only a minority shareholder of an enterprise and does not seek control. Even if the company goes public, it may earn millions.

Although it doesn't earn much money, angel investment is the initial stage of venture capital and an important part of the development of entrepreneurial enterprises. In the past, IDG actually did this in China, incubating many Internet companies. But now there are many venture capitalists coming in from abroad, and not many people pay attention to angel investment. In Zhou's view, this has its own reasons.

You don't have to have money to make an angel investment. "China entrepreneurs and western investors will encounter many problems together, such as poor docking, different rules of the game and different languages." If investors have connections and experience, the success rate of investment will be much higher. But most investment funds are large in scale, so it is not feasible to invest only a little at a time. After angel investment, we have to do post-financing and communicate with new investors. Small businesses need investors to help them improve their business models like coaches ... it is difficult to make money.

IDG announced that it will invest an additional $500 million in the Internet and other fields in China. This means that a large-scale investment is being made, and Zhou thinks that he is more suitable to stay in the angel investment stage.

"Shen Nanpeng and Tang Yue are venture capital funds because they are born investors. And I pay more attention to products and details. " Zhou Honglie said, "Now many venture capitalists want to cooperate with me. They are more willing to accept the projects I brought out because they have already screened them. I am both an investor and an entrepreneur. "

Qihoo: a model of "Zhou Chuangye"

There is nothing better than the "Qihoo" website to explain the "investment+entrepreneurship" model of the week.

Until the end of last year, Zhou didn't want others to associate him with Qihoo. In fact, Qi Xiangdong, president of Qihoo website, is the old partner of Zhou Operation 372 1. China Yahoo has hundreds of people. In the field of web search, Qihoo can walk as soon as it is born.

In March 2006, Zhou's operation achieved initial results: Qihoo officially announced that it had won 20 million US dollars in venture capital. The $20 million comes from institutional investors Sequoia Investment, CDH Venture Capital Fund, IDG and Isabella Chow. He is familiar with institutional investment partners such as Wang Gongquan, and they trust Zhou's vision.

"After a successful career, how do you explain the past' old ministers'?" The reporter asked.

"For the past employees, I have cooperated with each other and got to know each other. They have projects, go out to start businesses, and I will definitely help them. There is no doubt about it. " Although Zhou is no longer the chairman of Qihoo, he is no longer secretive about his investment. "The Qihoo team is good and hopes to interact with the community. This is an area where Baidu and Google currently have no advantages. But I'm just a coach. Whether the company can do it well depends on themselves. "

Zhou Hong seems a little nostalgic. He grew up in Henan and graduated from high school. Many years later, among the 372 1 old employees, there are still some Henan villagers. In the eyes of onlookers, Qihoo looks like the "Web 2.0" version of 372 1: many old employees are still working there, and the core team has almost "shifted". Considering that many people come from multinational companies, Qihoo's treatment is higher than that of ordinary startups, and the working atmosphere is the same as in the past. Weeks still doesn't encourage meetings during office hours, so people often stay up until midnight. The difference is that a free restaurant with 24-hour service is added. In the past, everything was very simple, and the email name was a short spelling of the name. Nowadays, there are many people, and many people use the whole fight instead. There used to be an ordinary coffee can in the company hall, but now it has been upgraded to a coffee machine ... Qihoo's corporate culture of "innovation, entrepreneurship, cooperation, passion, honesty and dedication" is the common language of Zhou Hongyi. Zhou is sometimes interviewed "live" in Qihoo's office.

With the change of identity, Zhou's pressure on his subordinates has also changed. "Now Zhou can't stare at the results so carefully." From 372 1, Yahoo China to Wang Hang who joined Qihoo, he said that he is now in charge of product affairs. These backbones regretted selling 372 1, held their breath and decided to make a comeback and go public.

Foreign venture capitalists can be sixty years old.

Zhou Honghui is still starting a business.

Compared with the past, he is as busy as before. After returning from visiting relatives, the United States fell into a "mountain meeting sea." Calling him is always in a meeting. However, in the face of work, his mentality has calmed down a lot.

"Compared with my own career, I am not so impatient. Although I pursue perfection, the investment enterprise should allow him to make some mistakes. When I started my own business in the past, I often felt that' there is no shop after this village'. In fact, from the perspective of investment, there are opportunities everywhere, and good companies will not invest. "

"Will there be a lot of pressure?"

"I am still worried that it is difficult to have three or five companies at the same time. I also encourage the invested enterprises to be a bit' wolf'. But when it comes to finding excellent companies, I don't compare the size of the fund with others, and I don't invest in many companies with anyone, as long as you feel good. The only regret is limited energy. You can't see every potential company investing. "

"Are you concerned about the actions of Robin Li and Jack Ma?" These are Zhou Honghui's two rivals.

"China Internet Jianghu boss is' leading the way for 300 days'. I ask start-ups to learn from successful companies, but innovation must come from a new generation. They have more creativity. " As a long-term investor, Zhou seems to be able to control his anger.

"What is the ultimate goal of angel investment?" The reporter asked.

"Do angel investment, prove that you have a vision. In particular, I hope to find and cultivate a few rising stars. Who can imagine what the Internet in China will look like in five years? Any estimate is conservative, right? If I tap three or four companies every year, I will cultivate 10 to 15 companies in five years; It is already a great sense of accomplishment to have two or three companies to do new Baidu and QQ. " Zhou Hong said, "Although I have less energy than when I was doing 372 1, I can still devote myself deeply. It feels good not to leave the front line. I am still an entrepreneur. "

"How do you' work and rest' and adjust your state?"

"I like to work in my bones, which is determined by my personality. Don't worry psychologically, because this is a long career, and a good attitude is the most important. Physically, maintain good physical strength through exercise, health care and rest. " In order to relax, Zhou sometimes watches DVD, and tennis practice is also good.

Zhou Honghui can talk to reporters for an hour or two, because he has asked himself many questions and answered them many times. Every sentence of the early product white paper was recited, scrutinized and checked by him at the meeting, just like a primary school student who wrote a hundred wrong words. Such an introspective person can't live without a long-term plan.

"I think investment is to my taste. Using the power of capital and my own resources to help entrepreneurs is a relatively high-level business. But you still have to learn to make real venture capital. Success in starting a business does not mean success in investment. People have to do different things at different stages. In another five years, I may raise a fund, which is still between entrepreneurship and investment. "

"Foreign venture capitalists can be 60 years old." He finally added.

Passat is in charge. He is in charge.

CEO who loves racing

Zhou Honghui, who is not tall, is called the "boss" of Zhongguancun.

With the money at hand, he can't be the "richest man" in the village. But this young man from Hubei has maintained his "grassroots" side. "Concentration" can be described as "stubbornness", and "wolf nature" can also be described as "ferocity". He is outspoken in front of the media, criticizes his opponents mercilessly, and praises Microsoft's powerful means. ...

Once talking about competitors in a bar in Sanlitun, Zhou said maliciously: XX wants to eat me in the shade, and I want to bite him like a wolf! After one drink, it will be broken. After the waiter cleared the cup, he began to knock on the table.

Although his bad temper has offended many people in recent years, Zhou has no regrets. After being an investor, his words are much gentler, and sometimes he can't hide. "XXX is Jiang Biehe! (The scumbag in Jin Yong's novels) "Zhou commented bitterly, and then added:" Don't say I said it. "

But off the battlefield, Zhou is not difficult to get along with.

His schedule is quite full, so far there has been no scandal, and the local dog at home is also a treasure. "That's my daughter," he announced. Zhou, who has kept a dog for many years, hates cats because they have no feelings and scratched him when he was a child. Zhou seems to be a person who likes children. Once sitting opposite a little girl, he quickly drew a sketch and handed it to her with a smile.

"Zhou is not an enthusiastic boss, but his character is actually ok." A former assistant said with emotion, "In the IT industry in China, it is difficult to determine who is a' hero'; Zhou Hong is at least a man. "