Boss Town - Mobike
China used to be known as the kingdom of bicycles, but now, it seems that the amount of our bicycles has dropped a lot.
Host: But the guest come to our show today can be called an uncle according to our definition. He says he hopes to bring the bikes back to our daily life. Have you ever seen a bike with two orange wheels on the street? And it's name is?
Host: Oh, you all know that! How much does it cost if you ride it?
Audience: 1 yuan! 50 cents! (Yuan is the Chinese currency)
Host : I hear someone says 1 yuan, and someone says 50 cents. So, do you know how much is his business worth?
Guest: He just received two hundred million dollars financing recently. It was the fifth round financing, so with a roughly calculation, the valuation of his company might be a billion yuan.
Host : I think the total valuation of Forever Bike, Phoenix Bicycle and Flying Pigeon was less than a million yuan back then. But today, he can make such a business big, only with 50 cents or 1 yuan at a time, what are the secrets to his success?
NARRATOR: Wang Xiaofeng was born in 1973, Da'an, Jilin.He graduated from the Department of Business Administration in Xiamen University at the age of 25, in 1997.
Then, he became a salesman in Procter & Gamble, and worked there for nine years.In the year of 2006, Wang Xiaofeng left Beijing for Shanghai to join Google.He set up the advertising channels for Google search engine in eastern China in the early times.
He worked in Coty, Tencent and Uber, and after eighteen years of working as an employee, the 42-year-old Wang Xiaofeng chose to set up his own business to join Mobike, becoming the co-founder and chief executive officer (ceo).
NARRATOR:Mobike connects smart phones with bicycles by using the mobile Internet technology, which allows people to rent and return the bike at any time and anywhere.It provides an option for the last-kilometer travel.
On February 20, 2017, Mobike announced the new financing of the D-round, introducing a new investment of Temasek Equity Investment, and also an additional investmen of Hillhouse Capital Group.