Chen Ye, former senior vice president of Meituan Dianping, started a business again: 2C is king trading for Wang High Frequency is king

Chen Ye, founder & CEO of Hubo Technology, gave a product demonstration

On March 25, Hubo Search, the flagship product of Hubo Technology and the artificial intelligence financial information search engine, was officially announced to be open to individual users.

In an interview with the surging news reporter, Chen Ye, founder and CEO of Hubo Technology, said that the experience of Meituan Dianping allowed him to witness the rapid development of China's mobile Internet, and 10 years ago in Silicon Valley, the experience of microsoft, Yahoo and other large companies exposed him to the most advanced Internet technology development at that time, "I hope to organically combine the two." ”

Ye Chen was a senior vice president of Meituan-Dianping and previously held positions as chief scientist and R&D director at Microsoft, eBay and Yahoo. In July 2017, tiger bo technology was founded. In March 2019, Hubo Technology announced the completion of a Series A financing of $33 million.

The financial industry data processing is still stuck in the PC era

Before choosing the entrepreneurial track, Chen Ye did some thinking. He said that all the entry points for choosing financial information are based on market demand and user needs.

Chen Ye believes that in the financial industry, the acquisition and processing of data is still relatively stuck in the PC era, and there is no convenient product replacement so far, and it needs to be greatly improved." ”

The financial industry also has the convenience of starting a business. Chen Ye said that finance itself is a relatively universal industry, the demand and market are very large, in addition, financial data is relatively open, greater opportunities for entrepreneurs. "It is more difficult for industries where data has an exclusive advantage, or where industrial resources have an exclusive advantage." We want the data to be public, and everyone is more likely to have a better chance than commercial smell and technology. ”

For the prospects of artificial intelligence, Chen Ye also expressed optimism about the entire field, "Artificial intelligence has found a large commercial application in the fields of image, speech and other fields, and I personally firmly believe that once text processing and natural language processing find commercial applications, it will have a larger space and greater impact than those imagined." "I want to be able to lead technological breakthroughs." ”

Meituan-Dianping's experience has enhanced strategic thinking

Talking about the help of working in large companies to start their own businesses, Chen Ye introduced that his experience in Meituan Dianping allowed him to witness the rapid development of China's mobile Internet, and 10 years ago in Silicon Valley, the experience of large companies such as Microsoft and Yahoo made him contact with the most advanced Internet technology development at that time, "I hope to organically combine the two." ”

Chen Ye said, "Meituan is one of the major achievements of China's mobile Internet. ”

"The rise of the US group has undergone many track shifts, from group buying, to takeaway, to other wine and tourism transactions." He introduced how to grasp the trend, to operate the appropriate product, and how to organize resources to fight this battle after identifying the trend, "I had the privilege of witnessing the whole process. It has been a very far-reaching help for me to start a business and become a great company in Shanghai, China. ”

Chen Ye also said that Wang Xing gave him a lot of help, and the success of the US group is inseparable from Wang Xing's strategic thinking.

"When Wang Xing looks at a business, trend, and industry, he will go from macro, including GDP, The macro development of the Sino-US economy, and the global economy, to some micro-specific business data, and integrate these data specifically, which is why Meituan always wins in a certain thing."

Chen Ye also mentioned that As one of the few artificial intelligence companies that has developed into the field of to C, Hubo is related to an experience he had in Meituan Dianping.

"About three or four years ago, I went to Silicon Valley with Wang Xing to visit DST boss Yuri (DST investment company founder Yuri Milner, a Facebook and Alibaba investor), and we had breakfast together. He came up and said three sentences that impressed me deeply, '2C is king, trading is king, and high frequency is king'. Chen Ye told the story to the surging news reporter: "China's Internet has not left this thinking in the past decade. ”

Choose like-minded investors

At present, Hubo Technology has obtained a total of nearly 400 million yuan of investment, investors include PAC, CreditEase New Financial Industry Investment Fund, Gaorong Capital, New World Group member of the New Creation Group (00659. HK), Sun Hung Kai Limited (00086. HK), Light up Fund and Dianping founder Zhang Tao. The most recent round was a Series A funding round of $33 million just announced in March 2019.

Hubo Technology is not receiving all the hot money as ordered, but it is selecting like-minded investors.

Chen Ye said, "I think artificial intelligence will lead the next step of the industrial revolution in the future, so we will choose and firmly believe in this, and the investors who can follow us for a long time are represented by Gaorong Capital." Gao Rong is heavily involved with us in the past three rounds. ”

The second category is strategically synergistic investors, representing the NWS family, NWS and Sun Hung Kai in Hong Kong, all of whom have fully licensed financial operations. Chen Ye introduced that the introduction of CreditEase's new financial industry fund also has strategic synergy considerations.

Chen Ye also said that in encouraging start-up companies, the Shanghai Municipal Government and the Changning District Government have provided pragmatic help to Hubo Technology: "We can all settle down every quarter, and some rent subsidies and concessions are being implemented." I even feel that the support of this business environment is even greater than when I was in Silicon Valley. ”