The last video said that when He Xiaopeng started a business to do UC, Lei Jun invested 4 million yuan in him, and 8 years later UC was acquired by Ma Yun for 30 billion, and he made almost 5 billion yuan, making more than 1,000 times. And Ma Yun's acquisition of 30 billion yuan finally drifted, because since it was acquired by Ma Yun, UC began to decline. It can be seen from this that Lei Jun's vision is very unique! In addition to investing in UC, he has invested in many Internet companies, such as investing in Juju Times and achieving a book return of 112 times; investing in Lakala has achieved a return of up to 900 times.
In addition, more than ten companies such as yy, Letao, Multi-play, Multi-watch Network, Good Doctor Online, CRM, Hechuang Technology, Wali Chat, 7K7K and so on have Lei Jun's investment figure.
In fact, investment is only his business hobby, his main business is to start a business, start a business, and start a business again. He became a millionaire in his junior year of study by helping people write software. In his senior year, Lei Jun and his classmates founded Tricolor Company, and after graduating from college, they joined Kingsoft and became kingsoft's sixth employee. Two years later, Lei Jun became the general manager of Beijing Jinshan. In 1998, at the age of 29, Lei Jun was promoted to general manager of Kingsoft Company.
In 2007, Lei Jun led Kingsoft to attack the IPO five times, and finally relied on the performance of online games to successfully list in Hong Kong in October 2007.
In 2008, he wrote in his personal blog: The mobile Internet is a big opportunity for the next wave of entrepreneurship.
So in April 2010, Lei Jun established Xiaomi. As of the second quarter of 2021, Xiaomi surpassed Apple to become the world's second largest smartphone maker with a market share of 17% for the first time.
Some people say that this is an assist by the United States, because the Suppression of Huawei by the United States has made Xiaomi, but it is still that sentence, opportunities are prepared for those who are prepared, and Lei Jun is the kind of person who can seize the opportunity.
Many people think that the world's second place has reached the top, but the entrepreneur's heart can't stop. In addition to hitting the world's first place in the mobile phone business, he also wants to start a business again and enter the field of electric vehicles.
On March 30, 2021, Lei Jun said at the Xiaomi press conference: "This is the last major entrepreneurial project in my life. I am willing to bet on the entire reputation of my life, put on the battle again, and fight for the Xiaomi car! In this way, Lei Jun announced that he had built a car. At the same time, it also said that the cash balance of Xiaomi Group at the end of 2020 was 108 billion yuan, saying that "Xiaomi can afford to lose money". According to reports, Xiaomi Automobile has been registered in Beijing on September 1, and the first factory will be located in Beijing Yizhuang, and mass production is planned for 2024.
Why is the road for successful people so smooth? Why is Lei Jun so powerful? People are not born strong, but the more they live, the stronger they become, and Lei Jun has become strong in the process of entrepreneurship again and again. The reason why he became strong may be related to his way of employing people.
For example, in July 2015, Lei Jun refused a "cattle man" who was highly recommended by an executive to join.
This person originally worked at a very important supplier of Xiaomi, and his resume was close to perfect. When he took over the business at the former company, he had only $9 million in annual sales, and four years later, he achieved $200 million. He talked with Lei Jun for more than an hour and said triumphantly to Lei Jun, "I have the ability to sell straw for gold, this is my ability." ”
But Lei Jun replied: You are not suitable for Xiaomi, you do not match our values, Xiaomi does not like to deceive users.
He told the employees: We founded Xiaomi, we don't like people who use pit users, and I don't like people who can sell straw into gold bars, we don't need it. We must be like peasants planting land, one point of cultivation and one point of harvest. Even if such people are very popular in the market, this is not our philosophy. What is real material? What is it to be friends with users? If one day, you know that your friend was your friend when he sold straw to you for the price of gold?
The so-called gentleman has done something and not done something, there is a reason why he has become so powerful, and his entrepreneurial road is not smooth, remember that there is a saying in "Detective Chinatown" that says, "Sometimes others think that you are very well mixed, but sometimes your teeth are broken and you can only swallow it in your stomach." This passage is too similar to Lei Jun. Today, let's take a look at Lei Jun's entrepreneurial story.
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Lei Jun was born in 1969 in Xiantao, Hubei Province. I have been studying hard since childhood. In 1987, Lei Jun was admitted to the Department of Computer Science of Wuhan University. At that time, many people didn't even hear the word computer or computer. At that time, Wuhan University was one of the earliest universities in China to implement the credit system, and according to the requirements of the school, as long as a certain number of credits were completed, they could graduate. Therefore, as soon as Lei Jun went to college, he had strict requirements for himself and took many senior courses. In just two years, Lei Jun completed all the credits and completed the graduation project of the university. He also published two programming textbooks during his college years, and don't look at the fact that he is now an entrepreneur, in fact, he is definitely a first-class programming engineer.
In the remaining two years, Lei Jun began to break into the computer market. He has written encryption software, anti-virus software, financial software, CAD software, Chinese systems and various practical gadgets, etc., and has done circuit board design, soldered circuit boards, and even worked as a hacker for a period of time to decrypt various software. He became a millionaire in his third year of college, and it was the "first pot of gold" he earned by helping people develop software.
Later, influenced by the entrepreneurial story in "Silicon Valley Fire", in the fourth year of college, Lei Jun began to establish a tricolor company with his classmates Wang Quanguo, Li Ruxiong and others.
At that time, the product was a kind of imitation of Jinshan Hanka, but then a company larger than them appeared, pirated their products, and this company suddenly collapsed lei Jun's first company through low-price competition.
Lei Jun, who was 22 years old at the time, knew that he had not experienced enough and had to work harder.
After graduating from university, Lei Jun came to Beijing to break through, and at the end of 1991, he met Qiu Bojun in Zhongguancun (Qiu Bojun was known as "China's first programmer" and served as the chairman of Kingsoft After 2000), he then joined Kingsoft. Two years later, Lei Jun became the general manager of Beijing Jinshan. In 1998, at the age of 29, Lei Jun was promoted to general manager of Kingsoft Company.
But Lei Jun stayed on this ladder for ten years until he left at the end of 2007. This period of time is also the day when Lei Jun "pushed the stone to the mountain". Qiu Bojun is determined to make Kingsoft a national software company that can challenge Microsoft, the ideal road is difficult, Kingsoft has gone through many transformations from office software to word bully, poison bully, and then to games and networks, and has undergone several ups and downs. Lei Jun led Kingsoft to attack the IPO five times, and finally relied on the performance of online games, and successfully listed in Hong Kong in October 2007. However, Kingsoft's listing valuation that year was far less than that of Alibaba, which was listed in Hong Kong a year ago, and even less than that of Shanda, Baidu and other Internet companies listed in the United States in the early years.
When Lei Jun was the general manager of Kingsoft, Ma Huateng, Ding Lei and others had just graduated from school and went to work at the Telecommunications Bureau, Li Yanhong was still studying in the United States, Zhou Hongyi also joined the work, and Ma Yun's preparation for the China Yellow Pages ran into walls everywhere in Beijing.
However, just a few years later, these "descendants" have become well-known Internet tycoons, and Ding Lei, Chen Tianqiao, and Li Yanhong have successively become "China's richest people".
In the midst of the clouds, the times are natural. Years later, Lei Jun recalled this paragraph and sighed: "Jinshan was still very popular in the 90s of the last century, and when the Internet tide rose in 1999, we were busy doing wps, busy fighting Against Microsoft, and had no time to take care of it." By 2003, we looked around and saw that we were far behind. At that moment, I was very stressed, as a CEO, I was summing up every day for the next two or three years, what went wrong, is the team not good enough, or the technology is not good, or I am not working hard enough? ”
In the end, Lei Jun himself figured out two points, one is that success is not enough to rely on diligence, and the other is to find the fattest market and go with the flow. In Lei Jun's view, the so-called Dacheng is highly correlated with the general trend.
Although Kingsoft missed the first wave of the Internet, there is one thing that will be crucial in the future. In 2000, Lei Jun led an in-house Kingsoft entrepreneurial project, Excellence.com, which was sold to Amazon for $75 million more than four years later. The sale allowed Lei Jun to achieve financial freedom and capital for his later angel investment.
At the end of 2007, two months after Kingsoft's successful listing, Lei Jun resigned as president and CEO for health reasons and left Kingsoft. A friend of Lei Jun said: "He was physically and mentally exhausted for a while, and leaving was the best choice. This freed Lei Jun from the shackles of habit. However, on July 11, 2011, the Nomination Committee of kingsoft's board of directors nominated Lei Jun as chairman of the board, which was unanimously approved by the board of directors, and Lei Jun officially returned to take over Kingsoft.
Afterwards, it turned out that it was this departure that made Lei Jun's rebirth.
Lei Jun, who left Kingsoft, turned into an angel investor and began to start from the general trend and observe and think about the Internet from a larger perspective. Lei Jun was one of the first people to devote himself to the mobile Internet. In 2008, he wrote in his personal blog: The mobile Internet is a big opportunity for the next wave of entrepreneurship. At the same time, Lei Jun has continuously cast a number of well-known cases in the industry in many fields such as mobile Internet, e-commerce, and social networking - Lakala, UC, Vanke Eslite, yy, Letao, more play, more looking, etc. Among them, investments such as UC have made it hundreds of times more profitable, which has already been said at the beginning of the video.
Making investments has enabled Lei Jun to have a deeper understanding of the Internet, and has also obtained exceptionally rich returns, while also achieving financial freedom. But the companies he invests in can hardly be said to be his own business.
In the depths of his heart, he still wants to do a business that really belongs to him, to be a huge, even great company.
Soon, Lei Jun found his own "potential". As a science and engineering man, Lei Jun has always liked to tinker with mobile phones and digital products, seeing the release of Android and Apple's smartphones, and seeing that the wave of mobile Internet has arrived, Lei Jun knows that "the wind is coming soon."
"Even if it is a pig, it can fly up into the sky standing in the wind." The keen Lei Jun sensed that China was about to usher in a new era of smart phones and mobile Internet, and he decided to open a new chapter in his life.
In April 2010, he established Xiaomi, which has quickly become a phenomenon brand in the industry.
In addition to going with the flow, the rest depends on his ability, and Lei Jun has always attached great importance to talents. Before founding Xiaomi, Lei Jun spent several months looking for someone, and once he met the right person, he chased after it and used various welfare resources until he persuaded the other party. In his words: Ask someone to take care of "thirty times." In this way, he invited Lin Bin, vice president of Google China Academy of Engineering, Hong Feng, senior product manager of Google China, Huang Jiangji, development director of Microsoft China Academy of Engineering, Zhou Guangping, senior director of Motorola R&D Center, Liu De, director of the Department of Industrial Design of University of Science and Technology Beijing, Li Wanqiang, general manager of Kingsoft Ciba, plus Lei Jun to form a luxurious founder team. Xiaomi's early employees said that many employees of international technology giants at that time, after seeing the list of founders, directly followed the past.
In the early days of founding Xiaomi, Lei Jun's biggest worry was the team's run-in and mentality, he said: "Seeing the fattest market and finding the most powerful people, there is no reason why things are not successful."
Before deciding to do Xiaomi, Lei Jun made an extremely long phone call to Liu Qin, a partner of Morningside Venture Capital, and during the whole process, Liu Qin only asked one question: "You have achieved fame, do you still need to jump down and fight?" Lei Jun replied, "I still have a reverence for entrepreneurship, and I will not die because my name is Lei Jun." ”
At the end of 2010, Xiaomi completed a round of financing with an amount of 41 million US dollars, and the investors were Morningside Venture Capital, etc., and the company's valuation was 250 million US dollars.
In the years after the establishment of Xiaomi, its revenue can increase by more than 100% every year, until it exceeded 100 billion in 2017, becoming the fastest company in the world with revenue exceeding 100 billion.
But the development of millet is not smooth, at the age of 5 years old, millet mobile phone sales fell sharply, the annual shipment fell by 36%, and even once fell out of the world's top five, the company's development also exposed many problems.
In order to revitalize Xiaomi, Lei Jun is personally responsible for research and supply chain, in addition to online channels, Xiaomi has launched offline stores and developed the Indian market. After a year of dormancy, Xiaomi achieved a counterattack, which is extremely rare in the hardware field, and Xiaomi's new retail strategy contributed to the company's bottoming out.
On July 9, 2018, Xiaomi Group was listed on the main board of the Hong Kong Stock Exchange, when Xiaomi was only 8 years old.
In the year of listing, Xiaomi's revenue increased to 174.915 billion yuan, an increase of 52.6% year-on-year, and this revenue scale also allowed Xiaomi to enter the world's top 500 list for the first time. Lei Jun's net worth also rose to more than 100 billion yuan.
On July 21, 2019, Fortune magazine released the 2019 World Top 500 list, and Xiaomi Group made the list for the first time. And the excited Lei Jun also sent three microblogs in a row to celebrate.
In just 8 years, Xiaomi has become the fastest Chinese Internet technology company on the list and the youngest company in the world's top 500 list.
On July 16, 2021, the latest report released by the well-known market research agency Canalys showed that in the second quarter of 2021, Xiaomi surpassed Apple for the first time to become the world's second largest smartphone manufacturer.
Among them, Samsung is leading the way, and its smartphone shipments account for 19% of the market share. Xiaomi came in second for the first time with a 17% share. Apple ranked third with a 14% share, while Oppo and Vivo maintained strong growth momentum, ranking in the top five.
Ben Stanton, Research Manager at Canalys, said: "Xiaomi is rapidly expanding its business overseas. For example, Xiaomi's shipments in Three markets– Latin America, Africa and Western Europe, soared by more than 300%, more than 150% and more than 50%, respectively.
As mentioned earlier, Xiaomi's continuous growth and keeping pace with the times are inseparable from Lei Jun's way of employing people.
Lei Jun once said: One person may go fast, but a group of people can go further. His way of employing people is also reflected in the motivation of employees, which can be said to be quite "generous", not in the generous "send money", or on the road of generous "sending money".
On July 2, Xiaomi Group announced that it will grant a total of 70231664 shares to 3904 employees. According to the closing price of Xiaomi stock on the same day, the total value of this incentive is about 1.53 billion yuan, about 390,000 yuan per capita.
Among them, the first batch of "Young Engineer Incentive Plan" a total of 700 outstanding young engineers were selected, of which the youngest selected employee is only 24 years old, and they will receive a total of 16.042 million shares, with an average of about 500,000 yuan.
Xiaomi's equity incentive has not yet been hotly searched, and Lei Jun has announced a more 'eye-catching' equity incentive plan.
On July 6, Lei Jun announced the 'second' equity incentive plan, rewarding 11,965,000 shares of Xiaomi stock to 122 people, including technical experts, the first batch of inductees of the New Decade Entrepreneur Program, and middle and senior managers, which was about 2.982 billion yuan according to the closing price of the day, with an average of about 24.4 million yuan per capita.
This equity incentive plan reveals Lei Jun's attitude towards talents: In Xiaomi's view, technical talents are not divided into men and women, regardless of age, and there is only one criterion, that is, technical strength. As long as it is a talent, it will never be buried in Xiaomi, and it will realize its value and get its due return.
Xiaomi's generosity is well known. According to statistics, Xiaomi has issued 12 equity incentive plans since its listing. Among them, there were 4 times in 2019, 5 times in 2020, and 3 times this year.
With the launch of a series of equity incentive mechanisms of Xiaomi, it will surely attract the world's top technical talents, and Xiaomi's bright future is worth looking forward to.
When everyone thinks that Lei Jun distributed shares and prepared to enjoy his old age in peace? Lei Jun made another bold decision!
On the evening of March 30, 2021, at the Xiaomi press conference, the 52-year-old Lei Jun officially announced that Xiaomi has entered the smart electric vehicle industry.
At the press conference, Lei Jun said: The company plans to invest 10 billion US dollars (about 65.7 billion yuan) in the next 10 years into the smart electric vehicle business, the first investment is 10 billion yuan; Xiaomi Group decided to develop the smart electric vehicle project in the form of wholly owned.
Lei Jun said, "This is the result of repeated consideration by all the partners of Xiaomi, and it is also the last major entrepreneurial project in my life." I am willing to bet on the entire reputation of my life, put on the battle again, and fight for the Xiaomi car! ”
This is not a whim of Xiaomi and Lei Jun. He said: Since 2013, he has been very optimistic about the new energy automobile industry. Over the past seven or eight years, he has invested in more than a dozen related companies.
In the first three months of this year, Xiaomi conducted 85 industry visits and communications on the construction of cars, in-depth exchanges with more than 200 auto industry veterans, and conducted 4 internal management seminars and 2 formal board meetings, after repeated demonstration and prudent decision-making.
Lei Jun said he is well aware of the risks and huge investment in the automotive industry. But "today's millet is no longer the millet of the year", and today's millet company has "a little accumulation" and has reserves in capital, technology, business, talent and intelligent ecology. Xiaomi Group's cash balance at the end of 2020 was 108 billion yuan, and he said that "Xiaomi can afford to lose money".
On September 1, 2021, Xiaomi Automobile Co., Ltd. was formally established with a registered capital of 10 billion yuan, and Lei Jun, chairman and CEO of Xiaomi, served as the legal representative and CHIEF executive officer. Xiaomi Auto is expected to be officially mass-produced in the first half of 2024.
Suddenly, I felt that Lei Jun was becoming more and more reliable. Whether it is a bet with Gree Dong Mingzhu, or a mutual tear with Huawei Yu Chengdong, or then to enter the new energy vehicles, mobile phone sales jumped to the second largest in the world, he may be the last person to laugh.
His success may be due to knowing how to "go with the flow and ride the wind." "Ten years of struggle, he led Xiaomi to successfully go public, becoming the world's top 500, and mobile phones to become the second in the world." Xiaomi's success is inseparable from his "pirate" adventurous rebellion and "farmer"-like pragmatic duty. As his personal quote puts it:
There is no success that does not take risks, faces risks head-on, and opens up to do it. Looking for someone is not "three Gu Maolu", looking for someone to "thirty times Gu Maolu". Success is often not planned, and crisis is an opportunity that you can't think of. Good companies make profits, great companies win hearts and minds. Xiaomi's three iron laws: technology-oriented, cost-effective, and the coolest products. Believe in yourself and keep going.
Finally, I hope that Xiaomi cars can also succeed!.
Dear friends, how do you think of Lei Jun and Xiaomi Cars? Feel free to leave a message in the comments section. Well, that's all for today's show! Can see the article at the end, must be true love, come to a three-in-a-row, thank you!!! Here is the World Celebrity List, welcome to click on the avatar to enter the homepage to see more wonderful content, we will see you in the next program! Thank you all and see you soon!