On July 7, Liu Hongliang, co-founder of Cainiao Technology, issued an obituary in the circle of friends and declared the death of the riding software “Ride in Case”. From December 25th, 2014 to July 7th, 2016, this technology-led smart-ride company survived for 560 days. When all this is over, Liu Hongliang has re-examined his own path to lazy bear sports. The following is the description of Liu Hongliang:

01
This would like to take a low-key off the ride, but still choose today, on July 7, last year's bird egg broke the record of the Beijing Dongdong crowd. Last year, this year, this year's ups and downs, but also to their own Mark.

Before starting my business, I worked as a training company in Qingdao. I was also a trainer and managed more than 40 people. For more than 10 years, everyone jokingly said that it was a golden rice bowl. Annual revenues can be as large as eight million, and individual words can be worth hundreds of thousands a year. In this city, you can live well.

However, after doing this for 12 years, I felt that I should do something. I was thinking about looking for opportunities in the Internet circle. I sold the company out in early 2014 and I also took a year or so to participate in the operation of many communities.
At the end of 2014, I met partners Yu Feng and Kong Fanbin. Yu Feng is a computer major and later returned to Beijing from Beijing to do folding car accessories. The old hole is Yu Feng’s former colleague. In 2011, the entrepreneurship made Push Share and AirJoy Enjoy, and got 360 investment.

Yu Feng thinks I know something about the Internet. He took me to start a business and said that we would work on bicycles together. The earliest attempt was to make a regular bicycle. At that time, it was supposed to be a bicycle with Internet thinking, thinking of selling it to college students on campus. In the process of doing this, the concept of smart cycling began to take off. Many companies like Baidu, Lenovo, Xiaomi, etc. are shouting this concept. We also think that it is not backward now that we are doing traditional things. It was also influenced by the current trend and decided to develop in the direction of smart riding.

Yu Feng said that this lack of technology, so I found the old hole, we three people began this venture. On December 25, 2014, we registered the company on Christmas Day. After that, everyone was very engrossed in thinking about this matter. At this time, they thought that everyone was shouting smart bicycles, but this was a pseudo-need. It would be better to make an accessory for the people who are currently riding and let it have the concept of intelligence. Now. What others do is an incremental market. We do the stock market.

The shape of the bird egg product was originally a tail light, then a tail light was not enough to add a controller, and at last we wanted to add a speed code table sensor in front, but the development process was not so fast.

Before and after the Spring Festival, in February 2015, we decided to publish a simple version of this product. After all, the Internet is about speed. Therefore, designing the product as a bird egg later becomes a form that can be twisted on the wheel valve core. (It can record cycling data including speed, mileage, time, altitude, slope, weather, calories, etc., and connect to the phone via Bluetooth)

â–² Bird egg product form.

At the time, the product was relatively small, and it would have been relatively simple. It began to develop, but during the actual development process, it was found that this product simply looks simple. In fact, the technology is quite complicated.

At that time we didn't know much about this piece and we made this product. Because of the professional things, I don't know much about technology. Yu Feng and Lao Kong are responsible for product development. I am responsible for operations and communication. In March, the release of a logo was disseminated in the circle of friends and it also caused a lot of influence in the circle.

Then we met our angel investor Cai Hu, who was already at Probe Capital, and his experience at Baidu and later was very good. He asked me: Do you need to invest in Lao Liu? We want to invest in such a project. At that time, financing was relatively easy. A lot of people would take the initiative to come to the door. Before we also rejected some of them, Cai Hu’s fame was relatively large. We decided to go and talk to the probe.

On March 10th, we departed to Beijing and went to a meeting and finalized it. According to a valuation of 30 million, we set this down in a very short time and voted us 3.6 million. Money arrived in May.

In the middle of this April, we participated in the dark horse games in Beijing and won the first place in terms of hardware. At that time, several CEOs like Sheng Faqiang were interested and wanted to participate. But just after the probe was finalized, I said wait for the next round.

After attending the dark horse games, he began to make a new round of communication. The original PR did not understand this piece. After the spread, it was found that the results of the competition were very good.

In May, it was just in time for the Shanghai Bike Show, which is the third largest exhibition in the world. We just wanted to find a reporter to release the bird eggs, and finally did a field press conference with the theme of "a bird egg caused by riding." At that time, in the bicycle circle, we did not have anybody to develop a cloth meeting. We were very early. In Shanghai, Zhang Xiangdong (co-founder of 700BIKE) and Li Gang (beast riding CEO) both came to see. Later, the 700Bike and the beasts were all developed and expanded.

After trying to do the crowdfunding, I originally thought that it was relatively simple. I started to raise funds in the process of doing it, and I could get some money back. However, with Jingdong, they said they must first look at the product before they can give it. Crowdfunding in China is not the same as foreign ones. There are concepts like kickstarter.

We think, then wait for the product to come out. The R&D process was actually quite difficult. Afterwards, it has been improving its products. Crowdfunding has also changed for a few moments and it was finally scheduled for July 7 last year.

Crowdfunding was successful. 10,000 bird eggs were snatched in 23 minutes. Of course, we did a lot of preparation in the early stage in order to complete the crowdfunding faster.

I really want to make it an internet event. To sum up, first, we did a press conference; second, early users accumulated in previous months played a big role. Because I used to play with the community, I was sensitive to this piece. From the very beginning, they made a group of gold egg owners and picked 100 senior riders and 100 gold egg owners. After these people were given experience, they were given to other users. During this time period, they recruited a lot of bicycle media and made 1,000 silver eggs. In addition, we cooperated with Luo Ji thinking and made 365 friends. This adds up to our early fans and the help that these communities have given us is really huge.

02

According to requirements, from August 7th to September 7th, we must ship normally within one month. At that time, there were many problems with the product to be debugged. By the end of August, all crowdfunding products have been sent out. Most of the circumstances in this batch are applicable, but they are not stable in different environments.
So the product has been improving, but to tell the truth, at the end of the entire project, there are still problems with the product. There are also many people who have invested in technology. At most, there are 2,30 engineers to do this thing, and still do not solve the technical problems.

One of our other app rides has been operating since the beginning of 2015, and we have accumulated 100,000 users in about 5 months. This is UFIDA's data.

Then from this time, the supply chain began to spend money, the team size is relatively large, 50 people. In the earlier period, we invested 1 million in our own investment. The investors gave 3.6 million, more than 4 million, but at this time, the supply chain's money and the team's salary made it very stressful. At that time, funding was already tight.

Looking back now, in the middle of last year, the investment market was also very exaggerated.

We can report in the capital that the newspaper can report 2,3 billion, and many people want to vote. At that time, the capital market was crazy. Everyone reported that. In the first round, we had a valuation of 30 million. The second round is about 100 million yuan. It is relatively normal, but we are reporting a valuation of 200 million yuan. Some investors think that the project is good and they also want to vote.

From the perspective of financing, the Angels just arrived in May and did not worry too much. Normally, we went out to finance in September, but when we went all out to finance in October, we found that the capital market was not very good. It was completely unexpected that the plan itself would have been incorporated before the end of the year, but at that time the industry was already very poor.

It must be experienced before you know that from August to September last year, it was completely different from before.

Because financing was difficult, it was found that this was not a good thing. The three partners discussed, and there was some disagreement on the direction of development. At that time, because Yu Feng and Lao Kong were all biased in products, but the bird eggs have not solved the problem. I am not confident enough. I don't think the product will come out again, but it will really be a complete failure.

Finally, the investors also suggested that since they are more determined in their own direction, it is better to split the project and run it separately. Yu Feng and Lao Kong also went to work on some of the products. I continued to work as a rookie and continued to work on this project.

After this, it involved a number of transformation issues. It has been tangled for a long time and some attempts have been made. However, in the later period, because the logic of the product did not come out, he did not meet many investors and did not dare to meet.

The direction that I wanted to do at the time was to use an equestrian platform as an O2O platform to connect riders, car shops, depots, and brands. Do B-side work so that there will be benefits later. But now many people are doing this model.

After that, there is a capital boss, which integrates us with another company. However, because the company’s equity has not been clarified, it is not the partners who have differences, the investors have opinions, and the final project has taken a long time.

At the time of splitting, money and many physical things were left to the partners. We took more than a dozen people. After the App basically stopped operating, and O2O urgently needed the integration of funds and resources, the employees went one after another. I put in hundreds of thousands of dollars and maintained the operation for about half a year. There was no result. So I made this obituary notice today.

▲ On July 7th, Liu Hongliang issued an “accident of riding” in a circle of friends.

03

When it was a bit early, in the first half of last year, investors felt that the market for riding was a relatively narrow area, giving them a first impression that there were fewer users, especially sports bikes, and fewer users. Afterwards, there are various excuse for investors not to vote, but the main excuse is that the market imagination is not so big, and they think that our business model is still problematic.

At that time, we were not very grounded. Where does the money come from? Everyone is not considering this matter. Everyone is thinking about how to do multi-users, can have a valuation, and when they cast me, they can invest more money. Still more to a VC's thinking.

In order to meet the investor's requirements, we have made operational data, activity, and the number of users. At that time, we were all considering this kind of thing, doing a lot of activities, sending out eggs, attracting attention to brands, and attracting people to download apps. Now think about these things as wrong. The users who are attracted are not necessarily riders. The most important thing is your ability to make blood. Beast riding is like us at the earliest, starting with smart accessories. Actually, we also saw this thing in the later period. We can't make money from the accessories and can only serve as an entrance.

All three of us are CEOs. We used to do our own business. We feel that we can do this very well. There are too many product lines, hardware, software, and community.

There are too many failed projects in hardware, and everyone's failures are similar.

To be aware of hardware, first, there will be problems with the product. Bird eggs from the development to a small amount of production, they made more than 10,000, and no more than the back production. Including the current situation, other hardware is the same, it takes time to accumulate, and the hardware itself is very good in the future, but now small-scale entrepreneurs should pay attention to investing much more than other Internet projects. Secondly, the supply chain has changed factories for several times. Shenzhen's factories in Qingdao have all looked for them because our orders are too small.

This piece of software, our logic is a bit confusing, is also trying to get it, but the software as an instrumental thing, the opportunity is not big, the walker and the blackbird are doing very early, we have used to . For example, if the pedestrian is now claiming more than 3 million users, it is very difficult for you to go beyond it.

â–² A photo of the rookie team.

Now if I continue to do it, I still prefer the integration of offline stores. This is what I wanted to do in the first half. We have more than 1,000 online. Last year, many brands also banned car stores from selling other brands, but this year has completely changed.

In the future, this collection shop will get better and better, which is why I later wanted to integrate the B-side to do this. On this basis, O2O must have a chance. Bicycles are a matter that requires offline. Whether they are 700Bike or wild beasts, after online sale, they also involve a lot of offline services, including Mavericks electric vehicles, all of which require offline.

When we promoted bird eggs last year, we did a "thousand store plan" and let their shop sell my products, but in the end it was more than 1,000. And the development cost is quite low, a store will get 100, and it is definitely not enough.

We integrated the car shop through the bird egg and its community. At that time, the opportunity was very good, but there was a problem. This year things like House Vaughan, Cycling, and American Riding, including the two-wheel alliance, the shopkeeper, are all doing this.

From the bottom of my heart, I like the industry very much and like to ride a bike. However, with such a business model, its best timing has already been missed. Would you like to play this thing again? Not so much thought.

We were using the community to do something. In the end, the key failure was the product. If the product is awesome, it may be that these business logics are realized.

04

When it comes to the community, we have a great advantage. When we were doing community, we operated 200 WeChat groups, one group was basically 300, 400 people, and there were also full groups. In normal operation, 4 people will do this. But today I dissolved them all.

Our community is divided into three levels: egg owners, nest owners, and city owners. The owner of the egg is the rider, and the owner is the person in charge of the shop. The city owner is the person in charge of the city.

There is no concept of community in the riding industry. It used to be forums or communities. In the community where I first operated the Starfish Club, hundreds of thousands of people have accumulated experience. I think the community is definitely one of the core elements of the future business model. The original brand was based on traffic, but this era has changed. It is not because of high popularity that I bought you, but rather liked and recognized your culture and values. Like Luo Ji thinking, listen to Luo fat voice to buy it, like Luo Yonghao to buy a hammer.

The community is not just a WeChat group, because so many micro-distributors are also playing with groups. It is very important for this thing. Are you trying to make money? shopping? Or do you like to stay with a group of people?

The group of rookies first likes to ride, followed by the recognition of the rookie culture. The rookie's mentality is: fresh, input, music, play! We have some slogans. For example, every rookie has an eagle's dream. Every eagle has a rookie's past. And the novice rider is also known as a rookie, and everyone buys a car called a food cart. We can also do logos, bird-faced birds, and many people like this thing and treat it as a toy.

Disbanded today, a lot of riders said, I cried. They thought it was a pity that they disbanded. They said that they must be raised for me to continue operations. Because of riding, he knew a lot of riders. He felt that feelings were there. A very important core of the community. But I think this thing has come to an end, do not toss this thing.

â–² Rookie Technology bids farewell to this.

Compared to other entrepreneurs, management is not a difficult task for me. Like products and technologies, the original contacts are few. I used to be a lecturer and I talked about how to transform the management team. This is what I'm good at. Of course, at the end of the day, I felt sorry for the team. The employees were disbanded. I paid them a month's salary. They said that Liu should look for me next time.

The last company was a golden rice bowl and went out to lecture for 10,000 days. Now, there is no income at all, and it needs to be supplemented every month. But at the time it was still to come out, staring at the end is to want to go public, or else I did it out of this stuff.

There was hardly any time to stay with my family and two daughters last year, but I felt that I had thoughts in my heart and wanted to try it.

It was indeed an experience that he himself had to carry out an arduous task to do this thing and finally had to declare the project failed. We are always looking for a solution. Finally, because of the failure of financing, of course, it is only one aspect, and there are other elements.

In general, the problems encountered in starting a business may be many, but I think more is persistence. We have not done anything further down the road. It involves a lot of factors. It is a pity that if we can persist, we may have a chance.

What to do next, I still do not think well, but more is to play their own advantages, brand, community, communication, do some work in this area. Yu Feng and Lao Kong are now playing tactical tricks. We are now often meeting to talk about this.

The sports industry is a trend. There is no problem, but the sports industry is a relatively slow industry, including profitability is not so fast, it is a process that slowly accumulates. Everyone in this industry, if they can adhere to as far as possible, do their own cash flow, the opportunity is still quite large.

We are still in a hurry.

In response to the rookie technology's death, Sloth Bear Sports chatted with two investors who had in-depth contact with rookie technology. They also said some of their own views.

A: I read it very early. Lao Liu wants to try something. Their community is indeed better than many people in the industry, but the solution is secondary. I think that App is not the main track of the bicycle industry, but it is a powerful aid for other tracks. If only the App, no other business, I am not optimistic about this thing. Beast riding this kind of vehicle, the main vehicle, the auxiliary is App, App's role is to help the vehicle brand advertising and interactive, I feel more reliable. But in turn, the app is the main, supplemental is the app to do the electricity supplier, I think even if this matter.

B: When we met them, we were already wary of smart hardware. The bird egg is not just what it needs, just like their own definition of "bicycle's bracelet," and the back of the bracelet has become a tasteless. In the bicycle industry, there are many traditional manufacturers that have accumulated for many years. It is too difficult for Internet bike companies to subvert them. When Apple subverts feature phones, it is because of years of accumulation.

Source: Lazy Bear Sports

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