The entrepreneurial story of Wu Bo, CEO of the former LaShou.com

Wu Bo, CEO of the former LaShou.com, is a pioneer in the field of Internet technology and business. With a bachelor's degree in electrical engineering from Tsinghua University and a master's degree in computer science from Western Michigan University, Wu Bo is the founder and CEO of the U.S.-funded ShadowLeader, a company that takes advantage of its video technology as its core and actively develops business in the field of Internet commerce. He is also the founder of Focus Real Estate Network and Richcore.

Wu Bo resigned from his position as CEO of LaShou.com on August 6, 2012 . Wu Bo re-entered the business of two projects: one is the apparel O2O "Meijiale", and the other is the real estate O2O "Meioju".

Wu Bo is probably the "living fossil" of China's Internet entrepreneurship history, which is longer than the record of the Internet history "15 years of boiling". Wu Bo is a typical "returnee" Internet entrepreneurs, he graduated from Tsinghua University Department of Electronic Engineering, went to the United States to study, and obtained a master's degree in computer science at the University of Western Michigan, and then went to work at AMD, and then resigned after getting a green card. Since then, Wu Bo's long 20-year entrepreneurial career has begun. Take a look at Wu Bo's entrepreneurial story:

Internet trendsetter

Almost every innovation "wind mouth", Wu Bo has been involved. As early as 95 years, he began to do the browser, when Microsoft has not yet launched IE. 1997, he founded the U.S. ShadowLeader Technology Ltd. and served as CEO, 08 years in Shanghai ShadowLeader in Hong Kong's main board shell listing.

In 1998, he founded webdvd and served as its president, and sold it to esst in 2000. He also founded focus.com in 1999, which was acquired by Sohu in early 2004, and in 2008 focus.com real estate advertising sales exceeded 200 million yuan.

Wu Bo was even involved in the VCD industry boom at the end of the 20th century in China, saying, "I have old acquaintances with the founders of Edo and BBK, and I have a lot of patented technology in my hands. I promoted the prosperity of the VCD industry at that time". 99 years, Wu Bo had assisted the Ministry of Information Industry to create vcd3.0 and the national standard of super vcd.

In 2009, Wu Bo founded the group-buying site LaShou, and predicted in 2010 that "China's group-buying site industry is similar to the state of China's portals in 2000, and there will be five to ten large group-buying sites left in the year."

Lashou submitted its IPO application to the SEC on October 28, 2011, and planned to land on Nasdaq on November 14th. But ultimately failed to go public. Soon after, Wu Bo left Lashou.com, which he founded.

Overall, Wu Bo almost every wave of innovation "occupied the pit", although did not make the industry look up to the success, but every time the whole body to retreat, and ultimately made a lot of money.

In a cafe in Sanyuanqiao, Beijing, Wu Bo chatted about his entrepreneurial journey, as well as the new O2O venture. He spoke in a very jumpy tone, with a rich expression and clear eyes. In short, like an "old boy".

Wu Bo doesn't have the same kind of entrepreneurial "die-hard" demeanor. But he is also absolutely smart and talented. Lei Jun once said: "80% of entrepreneurial success depends on luck, to be a pig on the wind, go with the flow." -- This is the truth that Lei Jun realized only after forty years, and Wu Bo seems to have been born that way.

Wu Bo said: "Enough money is good, the rest depends on the entrepreneur's contribution to the industry. I don't think personal achievement is that important."

Once heard many entrepreneurs say: "If at the beginning of the company does not intend to do their own listing, then simply do not do". Wu Bo proved that they are more bullshit, Wu Bo to now a **** entrepreneurship 8 times, did not do to a very bitter and do not die, do not want to become a big brother, take advantage of the situation, timely and retired, the harvest is also quite fruitful.

And now, Wu Bo said to i Hema, he thinks the tide of O2O is coming.

Why is Wu Bo betting on O2O again?

Wu Bo described this wave of O2O entrepreneurial opportunities: "It's a bit like the industrial revolution 300 years ago. Watt invented the steam engine, but now there is no textile machine, rolling mill and other machinery, so now the huge opportunity is to produce a variety of 'machines'. You have to think of programs as virtual robots."

Wu Bo is an electronic engineer, he likened the Internet to the basic "kinetic energy", e-commerce is only the primary stage, and the Internet and traditional industries combined with a close business model, will be the era of the new "machine", will enhance the entire

"China's Internet transformation of traditional industries, a very big advantage is that China's traditional industries are not strong. As long as you transform one of the traditional industries, you can give birth to super powerful O2O companies."

Wu Bo believes that this wave of opportunities brought by O2O has two characteristics: 1. transformation of traditional 2. intelligence.

"Intelligent refers to all computers are working, rather than people are working. 58 Tongcheng, group buying, pure e-commerce is the industrialized Internet era, with manpower to pile up, later is the intelligent Internet era. I do clothing brand 'Megalot' 30% of the clothes are computerized automatically to the user to choose."

Wu Bo is using this set of methodology to do O2O industry. First, after combing through the entire business process, he uses computer programs to replace the places where he can replace manual services. For example, let the program to division of labor, so that the skirt good factory specializing in making dresses for the "Megalopolis", and other clothing then assigned to other manufacturers. The selection of products is also partially replaced by the program, which analyzes what kind of clothes users like based on their social networks and historical data. Thirty percent of Megalot's clothes are automatically selected by the computer for the user.

"The mobile Internet has changed everything, including the factory 's manufacturing process, and the definition of the store. For example, the owner of a small factory may not have used the Internet before, but he uses the mobile Internet when he has a cell phone, he can easily record his business, and the business and data are naturally managed with a program. We can directly manage the entire production and shipping process."

Wu Bo told us that the use of intelligent systems, and even do not have to do "pop-ups", Megalot's sales volume is also very good. And Megalot produce clothing very fast, next year there will be 100,000 models, categories even beyond Zara, and all have a strong consumer point of view of the product."

Megalot has already begun to vigorously roll out offline stores, now in Zhengzhou, Xi'an, and will open to Beijing at the end of the year. But Wu Bo smelled a new opportunity, he said: "The Internet will completely change the traditional industry, real estate is the largest traditional industry. This is something I've been watching for 10 years, and now I think it's going to change, and I have to come in and take a pit."

At present, Wu Bo is no longer directly managing the business of Megalopolis. He puts all his energy into real estate O2O projects, and the entrepreneurial style of the wind chaser is once again on display. Perhaps, this is the reason why Wu Bo has been successful, always standing on the wind.

Using Internet thinking to do real estate

"Mei Aoju" is now doing foreign real estate projects, the project was launched at the end of last year, and Wu Bo just 3 months to let the site online. Wu Bo believes that the key to doing the Internet is fast, "fast, and have feedback, can improve. There will be no problem."

"The United States and Australia home" was just born, but plans to bring together the five continents available for sale of real estate, which will build a large editorial team? Wu Bo believes that a machine is enough, "Mei Aoju" now only 20 people in the team, mainly technical, Wu Bo hope that the maximum number of 100 people, because he hopes that the work can be replaced by a machine as far as possible not to use manual labor.

Wu Bo said, now the "U.S. and Australia residence" are not even editors, relying on the system to automatically go abroad to capture a variety of real estate information, and then analyze, and then recommend the best properties to the most in need of the user.

Wu Bo told that the reason why the real estate project started from abroad, because the United States and Australia's real estate information is very transparent, transparent to the community in the end how much money to buy a house in each unit of tenants, who is the head of the household, how much is the rent. The house was sold a few times, each time the sale price is how much.

First can information technology, in order to intelligent, intelligent in order to improve the productivity of the traditional industry, so as to transform the industry. This may be the defect of China's real estate industry, information is not sound.

"Not long ago, we machine in the United States 'plucked' an area, there are a lot of 60,000 U.S. dollars of single-family houses, monthly rental return of 1,000 U.S. dollars. These houses were also put on the US-Australia residence, and they were snapped up by my friends around me." Wu Bo is excited to talk about his machine. But also said that the current machine and algorithms of Mei Aoju still need to be improved, "its output is too low, like digging for gold coins, not enough digging, if there is a big enough information, there will be a better recommendation, and now the official website only puts out the listings in Australia."

Wu Bo said that now the process of overseas home purchase is also more standardized, in the United States to buy a house now people do not have to go to the United States, electronic signature scanning, payment, and then video confirmation on the line. Now the foreign purchase, mainly immigrants to buy a house, investment in the purchase of a house, and academic purchase of a house. "The company's website is a great source of information on how to find and recommend properties based on the user's specific needs, and their own data.

Wu Bo believes that the Internet thinking, the system is far more important than marketing: "Now the Internet to do marketing is not a problem, as long as you have something eye-catching, others are willing to spread, it is easy to let people know. The difficulty is that you really use a system to improve efficiency, can really make a good product. For example, in fact, now the best reputation in catering is Haijilao, now those who do catering on the Internet, none of them can have the reputation of Haijilao."

Wu Bo hopes that "Mei Aoju" subvert those who rely on information asymmetry to make money in real estate sales. Become the real estate sector Tmall or Jingdong. Wu Bo took a light approach, first with the mature foreign real estate market to verify their own model, and then slowly do the domestic market. He said "will definitely do the domestic market, and that is in this year."