EBay China left people’s network of Chinese financing story

"in June 2011, Turner capital has been a stake in people’s network." 13 evening, people network founder and CEO Wang Jianshuo for the first time to disclose the people of the C round of financing. This C round of financing occurred two years ago, but never disclosed to the outside world.

I note that the change in the share capital of the people may be in the history of Chinese science and technology by a wholly owned subsidiary of foreign companies into China’s local venture company, the first attempt.

net bodiless on eBay. For the good defensive competition, the second half of 2004 to buy the classified ads website Craigslist 25% shares, March 2005, eBay respectively in China, Japan, France, Germany, Italy and Canada launched the project "Kijiji classifieds".

eBay this venture is similar to the Craigslist model, designed to provide users with free release and query information services. But this time, people network "Kijiji" or a wholly owned subsidiary of eBay.

but since June 2008, the founding team China Kijiji and Silicon Valley Jinsha River venture has to offer most of the shares held by eBay. Among them, Chinese Kijiji founding team to become the largest shareholder, but the eBay is not completely in the stock change in exit, but a small shareholder.

The end of

shares after the transaction, Kijiji renamed people network". According to Wang Jianshuo revealed that the people of the second equity changes occurred in August 2009. Since 2005 to carry out business, people’s network has experienced two rounds of financing.

this time, the Silicon Valley Capital capital (Benchmark) into the board, the transaction has become the benchmark capital of the first equity investment projects in china.

at the end of 2010, the benchmark capital partner Matt Cohler in an interview with the author had talked about his understanding of the difficulties in the development of classified information advertising in china. At this point in time, Baidu has just launched the ah life project, set foot in the pan as the core of consumer life e-commerce platform.

if you look at the history of science and technology in the United States, innovative companies with a high degree of concentration, the execution of a market is the norm, in contrast, the use of large companies and the advantages of the capital of the success of only a small number of innovative enterprises. I believe this will be gradually reflected in China, because the law of the economy is the same, but it takes time, it may be the first to take part in the performance of some of the most patient and attentive segments." His emphasis.

Another noteworthy phenomenon is that

, the people behind the flash of the Turner capital. When it comes to Turner capital, Americans think of Pireman brothers. This is due to 6 of the partners in the Turner capital of the venture capital from the Lehman Vc firm, five. After the collapse of the Lehman brothers at the end of the financial crisis in late 2009, in early 2008, the investment department stripped from Lehman Corp