Pocket Shopping just received US$3.5 million in Series C financing, and its founder Ke Wang was so excited that he directly complained about its Series A investor Sequoia Capital, pointing out that the latter had defaulted on investment funds and almost ruined Pocket Shopping.

In an interview with "Chinese Entrepreneur", Wang Ke recalled the "dangerous situation" of the A round of investment at that time: "I was looking for them the day before (2012) Ching Ming Festival holiday. After the chat, I decided to do it on the spot. Then during the Ching Ming Festival, Sequoia worked overtime to send us emails. (So) later let Sequoia become the main investor, but they delayed for more than ten months and there was no news, basically they were released." Shan dragged, neither had any capital injection nor turned to find other investors, so Wang Ke sent a lawyer's letter to Sequoia. If he did not invest, he would be deemed to have given up. "Sequoia has dragged many projects to death in this way before. For example, ispeak was dragged to death. Originally, YY voice was made by ispeak, but Sequoia dragged on for 7 months. In the end, I said that I didn't think about it and didn’t vote. The investment company felt that since Sequoia hadn't thought about it clearly, it was estimated that there was a problem, and then they did not vote. For us, Sequoia had a problem at that time, I went to Jingwei’s Zhang Ying, and then Jingwei invested in us."

Two years later, Wang Ke’s pocket shopping has successfully introduced a C round of investment. Prior to this, he received about 2011 million US dollars in A round of investment from Jingwei China in 1200, and then received more than 2012 million US dollars of investment from Warburg Pincus in the 3.5 B round of financing. , Plus the recent round C financing of 4 million US dollars, the total of the three financings is close to XNUMX million US dollars. It is not enough for Wang Ke to silently slap Sequoia in the face with the firm confidence of other investors. This time, with the help of the media, he has to "happiness and enmity" heavily, and he is also drunk.

Wang Ke's difficulties: the story of ginkgo may be used for reference

Tiger Sniff once had a hot article, "This "Ginkgo" report by "Entrepreneur", why did it disappear after appearing on its Weibo? Which VC "Ginkgo" is? "The Ginkgo Capital mentioned in it may be used as a reference to understand Wang Ke’s anger, and we can also see the undercurrents and dangers in the VC industry.

Investment is buying and selling. When a large buyer enters the market, it is often a double-edged sword. Of course you are showing the value of your investment, but his entry will crowd out the original buyer, and the bargaining balance will be broken. Becoming a strong side may use "hands" to lower prices, or even turn around to abandon you and give the market a clear signal: you are not worthy of investment, whoever voted is taken advantage of-thus bringing your project to an end. This was Wang Ke's fear at the time, and of course it was also the psychological basis for his "revenge" today.

Is Wang Ke using Sequoia to tell stories for marketing?

But not everyone agrees with Wang Ke's complaints, especially for Shen Nanpeng's "release pigeons" with another observation and understanding. According to the analysis of Chuangye V Inn, Wang Ke's pocket shopping, whether in terms of business model or profit prospects, is actually far less exciting than his financing amount looks.

According to Wang Ke, as of September this year, micro-shops have covered 9 countries, attracting more than 172 million stores, 1200 million monthly unique visitors, and a turnover of 8300 billion. Pocket Shopping officially announced that, in the current mobile e-commerce field, mobile Taobao clients occupy the first place, followed by pocket shopping.

What is next? Did not say; how active are the 1200 million stores, did not say; how much did you buy with 8300 million visitors? Did not say. So I did a survey, and asked the dicks around the Internet, media, and financial circles, as well as local tyrants, students, rotten girls, and otaku... The answer was subversive. Among the people I surveyed, 95% of them had never done this. Software, 50% of people said they have not heard of it (half of the third- and fourth-tier people I surveyed, and most of the people who have heard about it are the Internet and investment circles).

I remember that during my investigation, a tech expert told me: "Pocket shopping? Their published data is multiplied by 10% before looking at it." Another buddy who is a micro business answered me: "Pocket shopping I thought I was going to die. , I didn’t expect to raise so much money, the CEO is really eloquent!”; The answer given to me by more investment circles is: I don’t understand this project.

Therefore, Shen Nanpeng’s Sequoia Capital’s PASS lost his pocket for shopping at the time, which may be a "hot eye and golden eye" (but in any case, you should not delay other people's cases to delay entrepreneurs' time); Excluding the use of Sequoia to do a free public relations communication-chatting is the most favorite free marketing strategy of Internet companies. It can get both fame and fortune with less effort. It can not only expand the influence of pocket shopping, but also push up various product indicators for investors. More confidence, of course, is to give yourself more confidence.

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