58 city Yao Jinbo CEO： Market will remain at a future Category 12

58 city guest Sina Technology CEO Yao Jinbo Silver Age

Sina Technology News on May 11 morning news, 58 city recently a guest Sina Technology CEO Yao Jinbo Silver Age interview, the talk about market structure, he classified information that the market has a bright future, classified ads are being migrated to the Internet, but with the the deepening of competition, the future existence of classified information market will be one or two companies. Yao Jinbo also shared his entrepreneurial story and 58 of the corporate philosophy.



58 city CEO Yao Jinbo: future classification will remain at 12 media markets Source: Sina Technology



Wonderful view:



About Financing



Our B round of financing is the financing round, a second round of financing, we first financing in 2007, SAIF the first round of financing, this soon. Not that we actively pursue financing, as investors chase after us, so we set up a time for the last time before the Spring Festival, when we speak with investors, we ask all be done before the Spring Festival, if not finish before the Spring Festival on alternative.



About competition



Before 2009 there is no distance with each other, either we or our competitors, but entered in 2010 to expand our competitive advantage, and 58 can now be responsible for speaking, our market share, many indicators, including income, number of users, posts markets are likely to be second and third in the combined. I believe that classified advertising will be a winner-take-all market, the future online classifieds market in China may be only one there, I very much hope, I hope will be 58.



About Venture



I have always wanted to do something to influence the public, the most common thing people. I had to choose what services will be in a foreign country that has broad prospects, at least in web traffic have reached a high level, no one in China to do that. I did remember to open a position, the first Google, Yahoo, down from, to see first is not very familiar with the site, is Craigslist, so I look at the site of the before and after half a year, I studied not only to see it a variety of news, see its Web site, I will go into its user, I paid for it, I used the overseas credit card issued in the above, the first payment information. This service is very much needed Chinese people, while China has not a strong opponent. I was out of product marketing for Network VP, I was determined to out do in fact no security, what really I am determined that I see some foreign companies into China, if I do not come, there will be no chance, I was decided to rush out to do this thing.



About Team



We have a story of the beginning, the Internet was also very widely upload the most to begin our first office rent and 60-position, I told the people that cut down the design of two bar into 58. Initially 58 of the 58 employees, now I figure a little, there are more than 30 individuals in 58. Four years have passed. Including many people who have left the 58, most recently in 2012 may be returned. Cohesion of a team depends not only on treatment, other than by others, is more important is two things: First, all employees must have a common vision, as I believe they are classified to be successful, the only way they can overcome temporary difficulties . Second, we work very happy, from my staff to the nearest floor, I am a very open environment, each of us can work together, be inclusive failed to encourage a culture of innovation, these two points to 58 in these probably many years in the industry can unite to 58 a very important reason.



About Ideal



58 I do not make it into a listed company, I totally made that the services should be 58, great service, great service is in China has millions of users, all of them, most people know , including my parents, relatives and friends are all in use, and help them solve the problem. Not only is the amount of users or solve the problem or create value for society, must be large.



Record interview follows:



Host: Sina's friends Hello everybody, Welcome to Sina Technology "Silver Age" between interviews. Today we are pleased to go to the 58 city's CEO Mr. Yao Jinbo, ask him to talk to you and 58 market categories. Mr. Yao Jinbo first of all say hello to everyone.



Yao Jinbo: Sina's friends Hello everybody, I am pleased to have the opportunity to communicate with you, I was 58 city of Yao Jinbo.



Moderator: Jin Bo, recently a message Tinghuo, you won the DCM and SAIF's investments, please describe the first Yao total financing process, because we more concerned about where the story of gossip.



Yao Jinbo: our round B financing round of financing is, is the second round of financing, we first financing in 2007, SAIF first round of financing, this soon. Not that we actively pursue financing, as investors chase after us, so we set up a time for the last time before the Spring Festival, when we speak with investors, we ask all be done before the Spring Festival, if not finish before the Spring Festival on alternative. This is a very smooth, about one or two months to complete.



Moderator: We know that 58 is the same city as the first investment by venture capital injection, you recently received 15 million U.S. dollars capital injection, Yao general, do you think of 58 companies rely on to attract venture capital to chase?



Yao Jinbo: In fact in our industry, 58 is a rather unique company, and several other companies than are large Internet companies as a sub-brand appears, the entrepreneurial 58 is a complete record of a company team. Contact our team for this cause is very loving relationship. In addition, I believe we not only love the team cause, and we the past few years, may we also understand the industry.



Moderator: Please describe the fresh wave largely Chinese classification market situation, because you are an expert.



Yao Jinbo: China Categories market to see how, the current classification of the Internet market in the area now, or very small, yet up to the real stage of development. If the classified ads from the market point of view, China is a very large industry, we know that every newspaper, including "Beijing Evening News," "Shopping Guide", an annual income in the categories above can be billions of dollars. The classified advertising market in China should be a value of 30.05 trillion market. I believe this market is being gradually transferred to the Internet. Recently I have with some of the media including newspapers category for people to talk to, they also feel this pressure, many of the traditional classified advertising customers slowly to the budget to the Internet, many users had come to rely on newspapers, living information, may gradually They began to choose to use the Internet, using a mobile phone to solve the problem. So, next year or the year after next will be a classified ad, classified information on the Internet was really the first year of public acceptance.



Moderator: We also noticed that the classification of the Chinese market is not only 58 a, there are other competitors, you describe what the market competition is like.



Yao Jinbo: 09 years ago did not pull away from each other, either we or the competitors, but entered in 2010 to expand our competitive advantage, and 58 can now be responsible for speaking, our market share, many indicators, including income, number of users, posts are likely to be the market second and third place combined. I believe that classified advertising will be a winner-take-all market, the future online classifieds market in China may be only one there, I very much hope, I hope will be 58.



Moderator: General Yao, like classified ads for-profit model, which is mainly a business model?



Yao Jinbo: this stage we are not particularly care about this piece of income-profit model, we care about is the user content and user experience, word of mouth. Because at this stage, most users do not use classified information, including the earlier video, I exchanged business cards with him when he had not used 58, Sina such high-tech enterprises, do not use the classified ads every day, still using papers and other services. This stage may be most users, including IT circles, including the use of computer users, has not yet begun to use classified information, not to mention the people, our parents, brothers and sisters, medium and small cities of the user. Therefore, I include our team at this stage is that users are more concerned about the amount.



Moderator: You are now mainly rely on to make money?



Yao Jinbo: the more non-interest income, the income the more likely we are not bad. Grasp some of the data from our point of view, our data in the 2009 year is profitable, audited statements. After this year, our revenue may be inferior to last year more than doubled. The more we are not concerned about the revenue, we find a rule, our revenue growth rate will be greater than expected growth, our revenue sources and a lot of channels, in general, we have now is the League of top 30 Internet sites, of course, we smaller overall size of the income or the. Most users Ye Hao, customer Ye Hao, pay for 58 of the service, and some competing products, such as Baidu, for instance, than the number of vertical sites, 58 still is worthy. Our revenue model is simple, 58, is the whole business, to provide users with a completely free platform, you can completely free release information, industry information. Of course, if you want to get a little better results, you can pay a little more, put your information on the more front position, which is one sentence can sum up our profit model.



Moderator: the originator of classified information is Craigslist, then there is a data in the mobile Internet, mobile phones in the United States visited it more than Google, I would like to know the mobile phone users access to 58 account for approximately what percentage now?



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