Jingdong Mall Xu Xin Is In A Good Mood.

Xu Xin took off his shoes and sat on the red sofa near the window. In late November in Shanghai, the phoenix trees began to shed their leaves, and the grass was still green. The photographer is lighting the lights, and the two story villa becomes quiet. Soon, she faced the camera again. "A hundred times earnings." The photographer smiled and prompted. She also laughed and showed brilliant Apple muscles on her face.

Jingdong mall is on the market. Xu Xin is in a good mood. In today's popular saying, she is completely blooming. In 2007, she founded today's capital, A, which invested $10 million in Jingdong. After the listing of Jingdong, today's capital holds 7.8% of the shares. At the beginning, the investment value of US $18 million has exceeded US $2 billion 600 million. The rate of return on investment is as high as 150 times, and the book has earned about 10000000000 yuan. This is the highest rate of return in capital investment projects so far.

In addition to Jingdong, today's capital investment lingerie chain city beauty has also been listed in Hongkong in June 2014. The company was founded in 1998 by Zheng Yaonan, a Gutian native in Fujian, and is mainly driven by fast fashion underwear. In 2010, after accepting today's capital investment, urban beauty was developing rapidly. Sales revenue rose from 700 million yuan in 2010 to 4 billion yuan this year. At present, there are more than 6000 stores in China covering all provinces.

Today, capital only invests in three areas, that is, "consumer goods brand, retail chain, consumer Internet". The basic logic of Xu Xin is to find forerunners in these fields and give them enough money to run their lives and occupy the leading position. As a forerunner of a category, once the market share exceeds 30%, and two times the share of second, it will be hard for an opponent to surpass it. This investment concept is most vividly reflected in the case of Jingdong.

October 2006, Beijing. Xu Xin met Liu Qiangdong for the first time. They talked from 10 in the evening to 2 in the morning. Xu Xin felt a dark horse at that time: "Jingdong did not play a penny ad, sales revenue grew by 10% a month. Lao Liu gave people a good sense of honesty. Every day they lay down on the Internet and returned their posts to the user. They would return in two minutes.

Liu Qiangdong wants 2 million dollars, and Xu Xin gives him 10 million dollars. "Internet companies must be bigger and bigger, or they will not die. An industry that burns money is not enough for 2 million dollars, and it will come for money in two days. " They agreed to focus only on growth in the first 4 years and talk about making money in the last 1 years. Xu Xin had experienced something similar and had tasted sweetness. She was not afraid. She bought Liu Qiangdong a second day air ticket and took him to Shanghai, and signed a framework agreement that day, so that he had no chance to meet other investors. At that time, Jingdong revenue was only about 60000000 yuan, 50 employees, not even an accountant.

After getting the money, Liu Qiangdong was bold enough to expand the product line. Jingdong's products quickly extended to digital cameras, mobile phones and other consumer electronics products, and established its position in the field of 3C, which greatly improved the frequency of users' purchase. In order to make Jingdong entrepreneurial team more motivated, today's capital commitment to take up 18% of the shares as employee options, as long as the first four years, the company's annual revenue can grow more than 100%. In fact, the annual growth rate of Jingdong is over 200%. This option pool has laid a good foundation for Liu Qiangdong to attract high-quality talents and complete the management of professional managers in the future.

With regard to the rise of Jingdong, price war is a topic that can not be carried away. Price war is inevitable. Other industries may need to fight for ten or twenty years, and the Internet industry will win every year. We should quickly shuffle the cards and reduce the waste of resources. Price war can be seen in particular whether enterprises are efficient. Why is the price cheap? It is because of the high efficiency, in a concentrated competitive environment, the line is OK, not out. " Xu Xin said.

New egg, Amazon, Dangdang, Suning, Jingdong all the way along with these rivals. The price war with the new egg is a small test knife. The price war with Amazon belongs to the point, and the price war with Dangdang is of special significance. Jingdong not only wants to sell books, but also cheaper than Dangdang, further reducing the entry threshold of new users.

As for Suning The fierce battle is the first large-scale confrontation between B2C business enterprises and traditional retail enterprises, which indicates the coming of a new era. Despite the rush, the Jingdong was short stocked and the delivery time was too long. Many people in the middle and old age are well aware of the Jingdong.

This experience is right. Entrepreneur It means that in a certain period of time, we must bear unprecedented pressure. The cruel journey of survival of the fittest is inseparable from the support of capital. As a female investor, Xu Xin resolute and resolute and has a strong heart.

This character is related to her growth experience. In 1967, Xu Xin was born in Dazu, Chongqing. Her father was a Xiaoshan native in Zhejiang. After graduating from Jilin Polytechnic University, she came to Sichuan Dazu automobile manufacturing factory and worked as a factory director from the grass-roots staff. He has a good business sense, intuition and talent. Most of the time, he is serious and awesome.

As soon as the guests left, she began to ask questions. Until mother and brother sleep, they are still asking. My father did not regard her as a child, but always answered her question seriously: why can't this person be used? What is the quality of the product? What is the selling problem?

Father is a person who wants to compete for everything. This also affects Xu Xin, a young man. "He will also study fishing carefully, and keep flowers to the best. I am more like him." She remembered every time the adults went out fishing and came back, their father always walked to the last. When children look at their basket, people in front say, "not much, not much. Go to the back."

　　 Xu Xin She is the eldest daughter in the family, but not a obedient child. In junior high school, she often ran away from chemistry. A friend is reading a dream of Red Mansions by the river. She is fishing in the river. Later, the teacher visited her family and enumerated her three counts: "chatting in class, eating in class, skipping classes." Her father was very angry, but when the teacher left, she immediately hit her. Hurry up, pick up the clothes hanger, and greet your hands, interrupt the hangers. Fortunately, she responded in a timely manner, her hand shrinked back, or else her hands would be broken. From then on, friends did not dare to go home to play with her, and her father asked chemistry and physics teacher to make up lessons for her, and her grades began to pick up.

After graduating from junior high school, Xu Xin faced several choices, either secondary or technical school, or high school. Technical school package allocation, monthly salary of 16.5 yuan is not low. But she wanted to go to high school, and her father was a college student. She is the kind of person who usually doesn't study hard and can always perform well. After the mid-term examination, she was admitted to Chongqing Nankai Middle School, which is a provincial key high school.

In the three line big state-owned enterprise such a small society grew up, Xu Xinlian ice cream has not seen, for her, Chongqing is like a little heaven. On the day when her father sent her to school, she saw "sharp things" on the roadside, which looked delicious. One ice cream with five cents each, the father bought only one for her, and she could not bear to eat it. "My father bought me a marinated duck. That's probably the best ice cream and duck I've ever eaten in my life." She said.

In 1984, Xu Xin was admitted to the English language and literature major of Nanjing University. She has read many novels. The book can only be read in the reading room, for fear that someone else will take the book away, she can not eat it for three meals in the morning or in the evening. At one time, her stomach was not very good because she read books.

The memory of NANDA is beautiful. 2014 in June, Xu Xin returned to his alma mater to talk about the first time that several girls in the dorm took part in the dance. No one asked them to dance, only one boy invited Xu Xin to dance. She always remembered the goodwill of the dance and the partner. However, she found that language and literature are not what they really want to do in the future. She began to attend the course of economics, though it was purely an interest and no credit.

There was a long vacation. She didn't go home and stayed in Nanjing to translate for a foreigner. Foreigners are coming to negotiate with China's state-owned enterprises. As we all know, the state of state owned enterprises was at that time. So the foreigner always complained about China's bad behavior in front of her, saying that after he returned to the United States, he wanted "Kiss the land of California". Xu Xin was a little upset at last, and said to the foreigner, "it's like you go to see a sick relative. You always say, I am so glad that you are ill, and I am not ill. Do you think this is a good idea? "

She did not drink Coca-Cola, and the foreigner let her pull the pull ring of the cans. She dared not worry about the sudden explosion. The foreigner said, you will encounter many such new things in the future, and you have to learn to open them yourself. Then she plucked up courage and opened the cans like a grenade.

She worked hard and felt that she had entered a commercial society. But at the end of the work, the state-owned enterprise only paid her 50 yuan, and the foreigner could not see it, and gave her 100 Hong Kong dollars.

In 1988, Xu Xin graduated from university and first entered the head office of Bank of China. 3 years later, she came to PWC, Hongkong. This is a Sino British joint plan aimed at supporting the first batch of International Certified Public Accountants for China. In 1995, Xu Xin entered Hongkong's local investment organization, peregrine. In 1998, he was transferred to baring investment group to be the managing director of baring in China. In 2005, she founded today's capital.

In her high school and college days, the whole of China began to thaw, and the days of material deprivation were soon gone. In such a tide, the industry of consumer concept will breed great opportunities. Over the past 20 years, she has focused on this investment career (her WeChat signature is "focused, self disciplined and lasting"). "At this stage of our country, the middle class is growing, they are willing to buy something better, and they are willing to pay a little premium for good things. Chinese people also have entrepreneurial genes, which are called "chicken heads rather than Phoenix Tail". One thing, as long as you do well, thousands of people will copy your pattern and dig your people. Since competition is inevitable, how can we win? We must have a brand of our own and have a premium capability. We have invested in many retail businesses. As you know, the rent of retail businesses rises by 0.5% to 1% every year, and the salaries of personnel increase by 0.5% to 1% every year. That is to say, nothing is done, and profits from one to two points are eaten every year. However, the profit margins of these enterprises have not declined, but are on the rise. Because they have a premium capability, and the brand is a real moat. The key is to find opportunities for every category, run hard and occupy the minds of consumers, so it's safe. "