Jumeiyupin Founder Chen Ou's Entrepreneurial Story

Chen Ou, CEO and co-founder of Jumeiyuping, studied at Nanyang Technological University in Singapore at the age of 16, founded Garena, an online gaming platform, and received an MBA from Stanford University at the age of 26. In 2010, Chen Ou joined hands with the popular kingpin Han Geng to launch the subway advertisement of Jumeiyuping, and his novel "double endorsement" model was warmly received. In 2010, Chen Ou teamed up with popular star Han Geng to launch the Jumei Youpin metro advertisement, whose novel "dual endorsement" model was warmly received. In addition, he personally appeared for the company to shoot "for their own endorsement" of the advertising video caused by the 80 strong **** Ming, in the Sina microblogging set off "Jumeirah body" imitation craze.

Chen Ou, a Sichuan native whose parents are both government employees in a prefecture-level city, studied and lived like most kids until he was 16. That is, until he enrolled in Singapore's Nanyang Technological University on a full scholarship.

"It was a great springboard." Chen Ou said he studied computer science in college and earned money as a hobby. How to earn? Playing games tournaments. During the university, quite talented Chen Ou often participate in game competitions, other contestants to play Warcraft as a life, and Chen Ou only in the three or four days before the competition to take the time to practice. At that time, his best achievement was to have been awarded the top three of the Singapore "Warcraft".

Playing the game didn't make Chen Ou addicted, and discovering and creating new games became his spare time. In his senior year of college, with just a laptop, Chen Ou founded Garena (formerly gg, now with over 24 million users worldwide), the world's leading online gaming platform, and attracted a huge number of gamers, becoming one of the largest gaming battles platforms outside of China.

At the time of Garena's success, under the pressure of his parents, he had to face a real problem - studying for the M B A at Stanford University. 2007, Chen Ou successfully enrolled in Stanford, and his focus shifted to studying again. During this period, Chen Ou met his second entrepreneurial partner, Dai Yusen.

Although he had worked in a big company like Google, his part-time experience made him more determined to start his own business. In Chen Ou's eyes, employment is based on the boss's ideas to complete the work, only their own duties; and entrepreneurship is different, it is to create value, you can follow their own ideas to do their favorite things.

Chen Ou said, he is a person with a lot of ideas, like to create and put ideas into practice. In the constellation, Aquarius is the most unpredictable character, which seems to be very consistent with Chen Ou's trajectory.

In 2007, Chen Ou was introduced to Xu Xiaoping by a Stanford alumnus. The two had a tea at the Cuigong Hotel in Beijing, and Mr. Xu decided to invest in his game matchmaking platform. But Chen Ou did not take Mr. Xu's money this time. Because he was facing the decision of whether to continue to study after graduation or to return to China, "If I took Mr. Xu's money and continued to study, I would be very embarrassed."

In 2009, due to the distance of reading MBA, Chen Ou found himself and Garena's company atmosphere is not so compatible, there is a kind of "destiny is not in their own hands feeling", so he had to bear the pain of selling the game platform Garena, which had made him proud. Although his parents wanted him to return to China after getting his doctorate, Chen Ou, who was already addicted to entrepreneurship, had already lost his mind to the campus. He returned to China on the third day after graduation to start his second business.

"As a male, why did you choose to do a cosmetics website?" "Because I'm an Aquarius and do things out of the box." This is Chen Ou's Aquarian answer.

Chen Ou returned to Beijing and registered Beijing Chuangrui Culture and Media Company Limited, of which Liu Hui and Dai Yusen are the co-founders. Xu Xiaoping and Chen Keyi, a founding partner of Sinopeng Huaxing, gave him money, and the company started a game advertising business.

"There was a thing that was very hot in the US at the time, which was that web games profited from built-in advertising. For example, if you're a game user and you want to buy game coins, you used to pay to buy them, but now you can go and sign up for an account or install the software, and we'll send you game coins."

But Chen Ou soon realized that this model was not going to work in China. As a man who is good at observing life, he found that the majority of female consumers in China have little confidence in buying cosmetics online, and no leading companies exist in the online cosmetics industry. For him, cosmetics were a new continent. He summarized three "feasible conditions".

First of all, e-commerce in China is developing at a high speed is an indisputable fact; secondly, the demand for cosmetics is very large, but there is no credible cosmetic website on the market; finally, to do this other men are embarrassed to do the industry in turn gave himself the opportunity.

The process of transformation is the first problem in Chen's life in more than 20 years.

"I am very strong, you can rationally convince me, but I will also convince you in a strong rational way." If the company wanted to transform, it had to have an explanation with its investors, and it had to tell the team a new story. The problem was that Chen Ou didn't have a clue about what he was about to 'do'. The three partners had a heated argument. Chen Ou wanted to do e-commerce, and Dai Yusen proposed community. "I told him that community is not reliable because it takes a long time to cultivate the market." And Yusen felt that the e-commerce link is too complicated, "did not do procurement, and do not understand retail, three big men have to do cosmetics." Their side of the argument when, the domestic blowing up the group buying fever.

Chen Ou proposed to do with the group buying way to play, by feeling step by step. As the company's liquidity is only 300,000 yuan, they had to continue with the game advertising business on the one hand, and on the other hand, two days, technically let the group beauty (Jumeirah predecessor) on the line. Product, Chen Ou found a friend who has done many years of cosmetics procurement "emergency". This is the prototype of Jumei Youpin. On the second day of the line, Jumei has the first customer. We are very excited, but happy not much longer to find that the back of the matter is super troublesome: "to pack, to send the courier, have to come to their own, the courier list are all handwritten."

Now Jumeirah, Liu Hui is responsible for technology development, Dai Yusen is responsible for product experience. Speaking of the friendship of the three, Chen Ou said, "We all have our own strengths and sympathize with each other." He believes that finding a business partner is more troublesome than finding a wife, because it is necessary to recognize each other in all aspects, including ability, character and career passion, three aspects are indispensable.

"The three of us have a **** the same characteristics - not particularly valued money." Liu Hui once said something that touched Chen Ou: "I would rather miss the opportunity to have money than miss the opportunity to create a great company with Chen Ou."

Back then, Liu Hui gave up his millions of dollars worth of stock in Matchmaker, and Dai Yusen gave up his Stanford degree, which he could get in 3 months, to follow Chen Ou back to China to start his own business.

The development of Tuanmei was going well, each day adding more users than the day before, the site was getting better and better, the team had confidence, and Chen Ou convinced everyone to start focusing on cosmetics.

"Setbacks are not called failures, it's just a hiccup encountered on the road of entrepreneurship, it's a small stone on your road, you can kick him away or cross over, as long as you don't get tripped up." Behind such a depiction, what does it show Chen Ou? What does it reflect about the post-80s?

"Post-80s" is known as the "bitter" generation. More than a decade of hard schooling, but after graduation, but ran into a wave of unemployment, can not find a job; find a job, not high income, can not afford to buy a house or car; now running three years old many people are still single, reduced to "leftover men and women". This is the first time in the world that I have ever seen a person who has been in the world for more than a year.

"I hope that no matter what, we still maintain a kind of optimism, together with the struggle, do not be beaten down by the pressure of life." In front of the new 80s, Jumei Youpin CEO Chen Ou to the 80s "cheer". Sunny, vigorous, passionate, full of positive energy, this is the impression that Chen Ou gives people, and this is precisely the message he wants to convey to the post-80s.

Overseas study, Stanford University MBA graduation, returnee entrepreneurship ...... these experiences reveal the personality of Chen Ou: not willing to accept the arrangement, hoping to play their own piece of heaven. The Jumei Youpin he founded has now become a popular cosmetic shopping site for many women, and his entrepreneurial dream has inspired many of his peers. In Tianjin TV's "Not Yours" program, Chen Ou attracted many job seekers with his sunny and handsome style, and became one of the guests who left a deep impression on the audience.

"To live is to change the world"

Speaking of entrepreneurial motivation, Chen Ou told reporters: "Previously at Stanford University, our business school has a kind of ethos: Change lives, Change organization. Change organization..., Change the world. that is, change life, change organization, change the world. This style has profoundly influenced me, and entrepreneurship is precisely to realize this goal."

In fact, earlier, Chen Ou's entrepreneurial ideals have sprouted. "Senior year, almost graduated, everyone is looking for a job, but I really do not know what I want to do, I neither want to continue to study, and then master's degree, doctorate graduation and then go to look for a job, that kind of step-by-step is not suitable for me. The entrepreneurial stories of the Internet inspired me, and I chose to start my own business." So when he was in his fourth year of college, Chen Ou relied only on a laptop, founded an online gaming platform Garena, and successfully accumulated the first bucket of money.

Jumeirah has undoubtedly changed people's lives, and Chen Ou also hopes to change more people through his own experience, bringing them more "positive energy". "I hope more young people can participate in entrepreneurship, together to work hard, struggle, to create value. Just like today's Jumei, there are millions of users on Jumei to buy things every day, bringing more beauty and more convenience to people's lives."

However, not all young people are suitable for entrepreneurship, Chen Ou summarized the entrepreneurial need to have the "three forces": "One is the courage, because entrepreneurship requires courage, you need to take risks, need to be ruthless to do something that others do not dare to do; the second is the power of judgment, because as a Entrepreneur, entrepreneur, need to make a judgment on the direction of the business, there must be a correct direction, in order to avoid the whole company to make fatal mistakes. Like when I first came back to China, I was in the game business, and finally I transformed over to do cosmetics e-commerce, and found the right direction; the last point is leadership, which is the most important point. Company founders need to unite a lot of people and integrate a lot of resources. If there is no leadership, the company team will inevitably be scattered, lack of cohesion, not to mention innovation. The final failure is just inevitable."

Especially in China, the entrepreneurial environment is relatively harsh and very different compared to abroad. "When we first returned to China, we looked at a project in the United States is particularly optimistic, but in China will not work. Americans can easily make money by starting a business, and feel that there is no difficulty, but when we returned to China, we found that there was no money to be made."

Despite the difficulties he has experienced, Chen Ou still maintains a sunny heart. "Setbacks are not called failures, it is just a hiccup encountered on the road of entrepreneurship, a small stone on your road, you can kick him away or cross over, as long as you don't get tripped up."

Enjoy entrepreneurship

If you say that entrepreneurship is to create wealth, I can not agree. Let me give you an example: I graduated from Stanford at 26, and if I had gone into finance right after graduation, I would have had more chances to make a lot of money in theory. But I always thought about doing something on my own rather than working part-time, so I made a gaming platform called Garena when I was in college, and then tried to make a gaming built-in advertising platform after I returned from Stanford.

When I first graduated from college, I had nothing and suffered a lot to start my own business, but I was able to make it work under those circumstances, so when I grew up and had a better platform, a better team, and more resources to support me, what else would I be afraid of? It's a pleasure for me to start up again later.

I was studying IT, so I know that selling 3C electronic products is actually "selling goods", but cosmetics is different, is selling "beauty", and the market potential is huge. It's not just a digital business. Being in the cosmetics market makes me feel like I'm doing an artistic and emotional business. Our products can make others happier, and I feel happy myself. And honestly, women's beauty can solve a lot of social problems, because when there are more beautiful women, guys will stop fighting. Didn't a war start in the old Troy days because of a beautiful woman, and we want to avoid that. (Laughs) Being in the business of beauty is not only something that you will enjoy yourself, but also something that the public can enjoy.