(Follow this number [top left] to learn more about the stories of world-renowned companies and entrepreneurs)
Yang Bing, who started a business at the age of 18, is now worth 2.2 billion.
First, start a business at the age of 18
During his college years, Yang Bing co-founded Tiger Sports as a co-founder of his hobbies and dreams, and at the age of 18, he began to start a business. Today, Tiger Sports is one of the largest sports event providers in China.
Since then, Yang Bing has discovered the huge development potential of the Internet industry, and after the success of Hupu's entrepreneurship, he also began to think about other industries related to it.
At that time, Yang Bing and his friends around him invested a lot of energy in studying trend culture, thus smelling the huge business opportunities in the field; moreover, Yang Bing also saw macro trends, trend culture is constantly out of the circle, fashion consumption, trend consumption has become an important option for young people's consumption upgrade.
Second, the creation of things
In 2015, Yang Bing began his second venture.
This time, he set his sights on the trendy e-commerce platform, and the Dewu APP (also called "poison" at the time) came into being. At the beginning of its establishment, dewu mainly helped young people understand the sneaker culture and trend culture, and also provided users with online identification services for fashion products. And gradually create interactive social networking.
In 2017, the platform launched the trading function, creating a "first identify, then ship" trading model.
On the platform, consumers can not only purchase various fashion brand products, but also exchange consumer experiences and release life dynamics, thus forming a consumption ecology from "understanding" to "acquisition" to "communication". Because of its dual attributes of social and e-commerce, the platform is loved by many young consumers.
More than 80% of the users are "post-90s", and the ratio of men to women is 55:45. They have a relatively strong willingness to consume and spending power, many people no longer pay too much attention to the "big brand", but more advocating the concept of "pleasing themselves", and strongly hope to meet their aesthetic preferences. The "social e-commerce" attribute of the thing is precisely in line with the new needs of young people, allowing them to complete a "love cycle" in the process of "communication-purchase-exchange".
In 2018, Dewu obtained the third round of financing, including DST Global, Gaorong Capital, Sequoia Capital, Tiger Punch Investment, etc., at this time, the valuation of Dewu was about US$1 billion.
With the support of funds, the object has built an inspection and identification system that attaches equal importance to personnel and technology, and has set up an algorithm team to independently develop AI identification. After two years of continuous investment, ai identification has finally reached an accuracy rate of 99.99% on some products.
At the same time, Dewu has also attracted more brands to settle in, and as a launch place:
Japanese brand Casio Nautical King joint sports watch debut;
LV and Japanese fashion brand Nigo joint series of clothing debut;
LEGO and Lamborghini jointly launched a building toy;
The debut of each popular product is stirring up waves on the platform, and the world's trendy products are moving from Shanghai to the whole country through the goods.
In 2019, public data shows that the annual GMV of the App reached 6 billion to 7 billion yuan.
In 2020, according to the statistics of third-party institutions, the annual GMV of the App has reached 50 billion yuan. Ranked 11th in domestic consumer e-commerce in 2020.
In 2021, the peak number of monthly active users has reached 81 million, and the number of users has increased rapidly.
Nowadays, dewu has become an online gathering place for international trend consumer goods, and many global new products and national tide originals have been launched here.
Third, the business philosophy of getting things
Young people are becoming the main force of consumption upgrading, consumer goods with cultural value have great attraction to them, and fashion culture and fashion consumption will be an important choice for young people.
Service users
It is very heavy on the existing user needs. The most significant difference from other e-commerce platforms is that each product of the product is first identified and shipped later. Not only for shoes, but also for each product sent from the platform, it will be inspected by multiple people and then sent out after passing.
The most questioned point of the thing is whether there is such a large offline team and how to ensure efficiency. But it is "necessary to be heavy", and the Internet has developed to this day, and it is also a certain luck to be able to do the "necessary weight". Through the "necessary weight", differentiated value can be created.
It also spends a lot of manpower and material resources to use computer recognition aids and AI aids to help us do such a "stupid job".
Help brand owners
Many talented designers may lack a good supply chain and a platform to communicate and sell with users.
In the past two years, Dewu has invested a lot of resources in brand support, including participating in brand design and sharing the online marketing experience accumulated by the platform with brands.
I hope that more users can "get good things" through things!