In the era of Internet entrepreneurship, people succeed every day, and more people fail at the same time. I have compiled three cases of failed Internet entrepreneurship, hoping to provide you with a reference.

Decibel Network: A fiasco in the evil ways

In June 2003, Zheng Li and his friends created the 163888 website, which means "make progress along the way." Later, they developed K8 song recording software, and 163888 gradually became China's leading gathering place for online singers, known as "the first Chinese music community."

In October 2004, IDG invested US$2 million in it, accounting for 20% of its equity.

In 2006, the number of registered users of the website reached 12 million. In the same year, 163888 received a US$6 million investment from Alcatel VC, accounting for 12% of the equity.

In June 2007, the website launched a new name and domain name: Decibel.com, but the profit model of Decibel.com has not fundamentally changed. The profit model of relying on selling space and collecting membership fees is unsustainable. Advertising has become the main source of income for Decibei.com.

In 2009, Zheng Li was arrested on suspicion of operating a video chat business. In January 2010, the case was tried in court, and Zheng Li pleaded guilty in court. The reasons for Zheng Li's involvement in the business are not yet known.

Subsequently, the company was always in a state of loss, but new investment was never in place. Until it finally ended in dismal collapse.

Blog China: Poor management once brought together the top thinkers in the private sector

In 2002, Fang Xingdong founded Blog China. In the following three years, the website has maintained a monthly growth of more than 30%. The global ranking once soared to more than 60 places.

In 2004, it received US$500,000 in angel investment from Shanda founder Chen Tianqiao and SoftBank SAIF partner Yang Dong.

In September 2005, Fang Xingdong raised another US$10 million from well-known venture capital firms GraniteGlobal Ventures, Mobius Venture Capital, SoftBank SAIF and Bessemer Venture Partner, triggering an investment boom in China's Web 2.0.

Subsequently, "Blog China" changed its name to "Blog Network" and announced that it would be a blog-style portal, known as "the world's largest Chinese blog website", and also called "Super Sina in one year, and listed in two years" ” goal.

In just half a year, the number of employees at Blog.com has expanded from more than 40 to more than 400. It is said that 60% to 70% of the funds are spent on personnel salaries. He also spent a lot of money on videos, games, shopping, social networking and many other projects, but tens of millions of dollars were quickly squandered.

Since then, the blog network has experienced severe personnel turmoil that lasted for three years. Almost all senior management personnel were lost, and Fang Xingdong’s CEO position was also replaced by a decision-making group. By the end of 2006, BlogNet's staff had shrunk back to more than 40 people at the time of the financing.

With the rapid rise of emerging portal websites, blog networks have almost disappeared in the industry.

Fanfou: Don’t touch government sensitive areas

In the first half of 2009, the number of Fanfou users surged from about 300,000 at the beginning of the year to one million.

On June 2 of the same year, HP became Fanfou’s first corporate paying user and began to earn its first income. At the same time, a number of cultural celebrities such as Chen Danqing, Ai Weiwei, Liang Wendao, and Lian Yue joined in, driving the rapid growth of Fanfou.

In the second half of 2009, Fanfou was shut down abnormally by relevant departments. In an interview in 2010, Wang Xing, the founder of Fanfou, recalled that Fanfou was suddenly shut down a year ago and said: In response to the government’s In order to regulate online speech, Fanfou took measures such as deleting a large number of posts, restricting sensitive keywords, and suspending searches. "We have done what everyone can think of."

Fanfou reopened in a low-key manner in 2011, but as time has passed, it can no longer attract users' attention.