Don’t just start a career Start a
Business
Trilogy Ventures“Don’t just start a career –
START a Business
http://www.trilogyvc.comhttp://stevebell.renren.com
RenRen: 史蒂夫 steve bell
Agenda•Steve Bell - How to start-up
•Hu Sen - co-Founder CEO iWeiShi
•包炬强 Tim -co-Founder CEO Buding.cn
•Elevator Pitch Competition - 3000 RMB
Steve Bell
•B. ChE – Georgia Institute of Technology 1985•GE early career•GM Tier 1 Auto Supplier•Founder /CEO CORE Products GmbH•Founder / CEO SupplySolution Inc.•Trilogy Inc. VP•Founder / CEO ShangBy Inc.•VC – Trilogy Ventures – Founder and MD
Portfolio Trilogy VC
ZoZou.cc
DroidHen
Raising early stage capital in 2000
EASY
Raising early stage capital 2011is hard
•“Call me when you get bigger”
•“Let’s talk again when you have proven your business model”
•“We can met after you prove how it scales”
what is better.....
Raise < 1,000,000 ?
Or
Raise > 1,000,000 ?
Low capitalForces Focus
2000’s capital INTENSE models are
DEAD
✤ Only external proof matters
✤ need 10,000,000 something (RMB, users)
✤ show the business can be HUGE
✤ before running out of money
✤ “many tries” do do do do....
•10 -> 1000 ->1000000
EXTERNAL PROOF
Don't invest hereDate: FEBRUARY 16, 2011 1:39:34 PM GMT+08:00To: Stephen Bell <[email protected]>Subject: Re: Throw Out Your Business Cards, xxxxx iPhone App Is Now Live
sure, but for 10x less we dont need investment, we can invest ourself
And we can forget about a nice office, hiring 2nd group Eng people, all the symbian version, all the marketing, all the IP, legal and so on..
Droidhen• 3 students - profit after 30
days
• In 6 months - 13,000,000 downloads, + 500,000 rmb / mo revenue, fast growing
• In 9 months - 26,000,000 downloads, 1,000,000 RMB revenue, 50 + titles,
• new game every 5 days!
JiaThis• Social sharing
• 9 months old
• 1/2 china Internet population reached
• 120,000 + websites use
• 1,000,000 + unique IP per day share
Lezi.com• ZJU student team - 3rd
startup
• About 1,000,000 rmb investment
• Profitable < 6 mo
• 2 years later.... 5,000,000 per mo rev. , global, 250 people, Growing....
Only External Results Matter
Sure I have results - but I want to GET
FUNDED!
• How do you get customers
• NO Marketing Spend!!!!
Grow Plan
If you wanna do MORE, you gotta do
LESS
iWeiShi.cnSen Hu
- co-founder / CEO
包炬强 (Tim)• Experience
– Computer science/Master degree/ Zhejiang University – 2001 -2007– Product Manager/Tencent – 2007-2010– Co-Founder of a webgame( Sanguodou) – 2009-2010– Founder of Buding (one of projects in innovation-works) – 2010.6 – now
• Entrepreneurship – Sanguodou : a webgame, 100,000 users in half of a year, part-time, now failed
• Passion , no resource , no courage , no persist
– Buding : a mobile project focus on Local living information, 200,000 users in half a year, just got an angel fund.
• Dream , passion , the right time , team , explore , resource , courage , persist , learn , love
• Contact– Email: [email protected]– Tel: 18611202378– QQ: 32309278
“Elevator” Pitch
•60 Seconds – NO OVER-RUNS•What is your “Change the World” Idea
•20 Presenters – Sign up in advance•Audience Votes•Trilogy Ventures picks top few– based on
Audience Vote•Random Audience Panel – final vote
Don’t just start a career Start a
Business
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