He started his business at the age of 25 and failed nine times, and finally won the 10th time. He once turned down Jack Ma's investment and Wang Jianlin's high-paying offer because he wanted to be a rival to rival him.
After years of struggle, he has successfully built the No. 1 brand of takeaway in China, and his employees are all over the country. As of December 2023, his worth has reached 125 billion yuan.
What is his entrepreneurial path? How did he become more and more courageous? In this issue, Ziya Children's Fun Business will take you to understand Wang Xing's story.
In 1979, Wang Xing was born in Longyan, Fujian. He is a typical young master born with a golden soup spoon, and his father Wang Miao is a famous local cement tycoon.
Although Wang Miao has already become a billionaire, he has always held the idea that only by arming his mind with knowledge can he go better and further on the road of life.
Therefore, Wang Miao attaches great importance to the education of a son and a daughter in the family. Not only did he spend a lot of money to hire tutors for his two children, but he would also watch the two children learn Xi in his spare time.
Later, the two sisters and brothers did not let Wang Miao's hard work go to waste, the elder sister was admitted to Tsinghua University with excellent results, and a few years later, the 18-year-old Wang Xing was directly sent to Tsinghua University with more outstanding achievements.
During college, Wang Xing was a little at a loss in the face of his classmates who were better than the other. So in order to alleviate the pressure of his studies, Wang Xing will go to the Internet when he has free time.
One day, he almost entered the Yahoo website, and the small website actually contained email, music, movies and other services, which made Wang Xing feel the magic of the Internet.
It was from that day that Wang Xing had the idea of starting a business on the Internet. However, he did not act rashly until he graduated from his bachelor's degree, but chose to go abroad to continue his studies.
During his time studying in the United States, Wang Xing witnessed the rapid development of the Internet industry. In 2004, Wang Xing, who could no longer bear it, gave up the idea of continuing to study for a doctorate and returned to China, and then began to prepare for entrepreneurship.
Wang Xing's first venture was given to the project "Duoduoyou", which is a dating site that focuses on meeting friends through friends. Although the project is very new, due to lack of experience, the project has been yellow within two months of opening.
Wang Xing didn't particularly care about this, and immediately started the second project in his life, "Wandering Map". Learning from the experience of the failure of "Duoduoyou", Wang Xing has made different degrees of optimization in all aspects from the scope of users to the use of the website.
At first, the development of the website was not bad, Wang Xing thought that he would win this time, but he didn't expect to be photographed directly into the beach by Facebook.
Later, Wang Xing realized that it was not enough to rely on his own strength, so he found two like-minded classmates, Wang Huiwen and Lai Binqiang.
So at the end of 2005, the three of them rented a house next to Tsinghua University and started a new round of entrepreneurship.
After the trio discussed again, they decided to build their own social networking site based on Facebook's model.
After the project was determined, the three also carried out a clear division of labor. Wang Huiwen is complex in the front end, Lai Binqiang is in charge of the back end, and Wang Xing is in charge of making suggestions.
In this way, after a period of research and development, the campus network came into being. This time the campus network did not disappoint Wang Xing, and only three months after its launch, the website had more than 30,000 users.
But the good times didn't last long, and soon the website was frequently stuck and crashed because the server was fully loaded. There's only one way to improve these situations, and that's to spend money on maintenance upgrades.
But the website has just started, and the initial investment cost has not been recovered, so there is no money for maintenance and upgrades. But Wang Xing didn't want to seek help from his father Wang Miao, so he began to solicit investment everywhere.
However, this road is not easy for Wang Xing to take, and many investors only leave Wang Xing with the sentence "the development potential of this website is not great" after evaluation.
Fortunately, Chen Yizhou of Thousand Oaks Group later stood up and acquired the campus network for $2 million. After the acquisition, the campus network had a new name - Renren, and then not only developed at an astonishing rate, but also successfully went public in 2011.
Wang Xing, who successfully cashed out, immediately started a new round of entrepreneurship, this time he plans to imitate another well-known social networking site in the United States, "Twitter".
Soon after the goal was determined, Fanno.com was launched. Founded in 2007 and by 2008, the website had more than 100,000 registered users.
After another year of development, the number of website users has directly exceeded the million mark. In addition, Fanno.com has also attracted many celebrities to post.
Just when Wang Xing thought that Fanfu.com was the final destination of his own business, the accident happened again. In 2009, with the continuous strengthening of online supervision, Fanfu.com was shut down due to a large number of sensitive remarks.
Wang Xing, who was greatly impacted, instantly became a lot decadent, but he was still unwilling to give up easily. So he continued to start his business while waiting for the day when Fanwo.com would return to its peak.
But things didn't get as good as Wang Xing thought, and after the rice gateway stopped, Wang Xing fell into the quagmire of a project that dried up in two months.
Later, when the eighth project failed, Fanno finally resumed operations in November 2010. But at that time, Weibo had already been born and quickly captured the hearts of the public.
As an old love, Fanno.com was left far behind by the public, and finally Fanno.com became Wang Xing's ninth case of entrepreneurial failure.
This time Wang Xing could no longer pretend to be indifferent, and for nearly a month, Wang Xing locked himself in his room and did not see anyone.
But in the end, Wang Xing decided to regain his confidence and set off again. So in 2010, Meituan was launched. But Wang Xing had already missed the bonus period for group buying, and no one was willing to invest in the fledgling Meituan at that time.
But fortunately, in the end, Sequoia Capital saw Meituan's development potential and directly raised $12 million for Meituan. Meituan started from this, but soon the industry set off the famous "Thousand Group War".
Through this war, Wang Xing deeply realized that the endless spending money to make discounts to attract customers, the platform will sooner or later be unable to make ends meet, and doing a good job in team building and merchant resources to obtain sufficient cash flow is the last word for sustainable development.
It was also at this time that Wang Xing was successfully appreciated by Ma Yun, and tens of millions of dollars of financing were instantly transferred to the US dollar account.
With the blessing of tens of millions of financing, Meituan not only survived the "Thousand Group War", but also made Meituan directly become the leader in the field of group buying.
But later, because Wang Xing didn't want his hands and feet to be tied, he rejected Jack Ma's additional investment. At this time, Wang Jianlin, who had long admired Wang Xing, directly threw an olive branch to him and invited Wang Xing to be the president of Wanda Group with an annual salary of 8 million.
Wang Xing refused Wang Jianlin's invitation, and finally reached a cooperation with Ma Huateng of Tencent Group. In this way, Wang Xing led Meituan to continue its development, and finally expanded its business from group buying to catering.
Since then, Wang Xing has been keeping up with the trend of the times and expanding Meituan's business scope to travel, hotel, tourism, leisure and other fields.
After the rise of shared bicycles, Wang Xing's eyes were immediately attracted. After confirming that the industry was developing steadily, he quickly entered the field of shared bicycles.
In the end, he saw the dividends of mobile payment, and his old club Ma Yun has become the richest man in China through Alipay, and Wang Xing will certainly not sit still.
So in 2016, Wang Xing officially entered the field of financial payment through the acquisition of Qian Daibao. And Wang Xing has already gotten rid of the shadow of nine entrepreneurial failures and has become the CEO of a 100 billion market value group company.
However, Wang Xing is not satisfied with this, and he has already begun to plan to tap the market in medical and health care. Wang Xing's ambition is to make Meituan a company with no industry boundaries, and he wants the public to see Meituan in all fields.
What do you think of Wang Xing's entrepreneurial story? Welcome to leave a message in the comment area to discuss and leave your own views.