oral | Lv Wensheng
| correspondents and Yang
financing too late?
three hundred or four hundred video sites are dead, the excitement did not die. Every time we step on the right (rhythm), but every time no focus.
do VOD excitement broadband was established in 2005, a month later than potatoes. 2006 it is transformed into an exciting network, but also better than Youku morning line.
we saw from the beginning, the video will be the core needs of video site users, so we believe that the video site business model is advertising, is the media. We put forward the concept of the media portal, Youku, potatoes do UGC, PPS, PPTV and thunder client. People think we’re not cool. Two or three years later, we all become portals, thunder also use Thunder KanKan.
another spotted, I think this is a marathon, not sprint. I estimate that eighty or ninety per cent of the website died in 2008, no money is difficult to continue. At that time, many VC said (excited net) this practice not to spend big price hit, hit up the traffic, I said so burn can not stand. Market ranking is not important, it is important to live a healthy life. You eat abalone, we also eat porridge. We wait for the industry to mature. Our shareholders value with us very close, they never think it is not the ability to burn, who will not burn? We are closer to the essence of doing business, profit is a must for us.
but I don’t think it’s a success, even though we’re not down. The year before last, I went back to Beijing Normal University, I have to let students talk about entrepreneurship, I told them that I was walking on the road to success, it would be more accurate.
we went a different way with other video sites. Do video mainstream model should be looking for VC financing, rapid financing, rapid development. We are not. Excited network on 2006 on the line, in December 31, 2010 to get the first financing of the paragraph, it is very late, very late. With Youku their path than, I never think that a development model of excited net to be proud of, just qiuwen.
is not do not want to melt, we have always seen investment institutions, close Term Sheet. To be honest, we were a thicker than others, we have had successful experience, media investment is also doing well, it should be easier than others to take the money. I think we may not be ready to finance the psychological preparation. We feel that the signature will count. I remember quite clearly that there was a big investment agency that said, when did you get the license? I told him I couldn’t promise. I recall the journey to get a license before, we felt unable to face investors. After obtaining the license we decided to formally enter the industry. That was the idea.
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