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Why does Tencent have no super unicorn?

via:博客园     time:2018/10/11 19:15:28     readed:79

图片来源:视觉中国

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In the arena of entrepreneurship, it has always been the BAT world. Starting from 2016, in the dimension of the number of entrepreneurs, it has become the ATB's ranking. Ali Alumni entrepreneurship projects about 680, Tencent alumni about 429 entrepreneurship projects, Baidu Department about 321.

Over the next few years, Ali entrepreneurs grew out of super Unicorn businesses such as drops. By contrast, the volume of Tencent entrepreneurs is much smaller. Except for Futu Securities and Lexin, which have a market capitalization of about 10 billion yuan, most are in the hundreds of millions to billions of dollars. Even on the rivers and lakes, some people have argued that Tencent is not big enough to start a business. Is that true? What are the causes?

Tencent has no super unicorn.

Before 2012, there was no Tencent Department of Entrepreneurship, most of which were represented by Sohu, such as Youku Gu Yongqiang, iqiyi Gong Yu, Momo Tangyan and so on. Because of the explosion of the mobile internet, the role models of great entrepreneurs, the restructuring of Tencent, and the background of capital-intensive entry, there was a group of people who left Tencent actively or passively.

In 2013 and 2014, Tencent's employees who left their jobs were set up one after anothe

In 2014, Monofly Penguin Club joined Litchi Garden, Cloud hunting Network released every six months of the "Tencent Department of the entrepreneurial wind list." Since the launch of the 14-year list, by the end of 2017, theSo far in the list, new three board listing 5, E round 1, D round 3, C round 15, B round 25, A round 50, Pre-A round nearly 20, Angel round 15. (part of the data is not final data at the end of 2017).

Of the more than 1,000 entrepreneurship projects, few are known, and few are known as unicorns (companies valued at more than $1 billion), making the entire Tencent venture even less likely to be super unicorns (companies valued at more than $10 billion). Even though Tang Jian, ranked as the top entrepreneur in Tencent in 2017, is only a co-founder and has limited influence on corporate culture.

Hu Weiweiwei, the founder of sharing bicycle mobiles, did not stay long at Tencent and was not greatly influenced by the corporate culture. And never mentioned in public that he is a Tencent department. Lexin, a club with a market capitalisation of 10 billion yuan, has more influence in its industry. According to popular speculation, the emerging Fortune Road Securities and ucloud are valued at about 10 billion yuan, but officials have never officially disclosed their valuations, nor have third-party investment institutions officially disclosed their valuations.

为何腾讯创业系没有超级独角兽?

The Nasdaq-listed Aiclick in December 2017 had a market capitalization of only 1.134 billion yuan as of October 9, 2018.

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The Soul Network, which was listed on the Shanghai Stock Exchange on October 26, 2016, has a current market value of 3.701 billion yuan, and the Creative Sky, which was listed on the new third board in December 2015, has a current market value of 167 million yuan, while Yaoyu Culture, which was listed on the new third board in September 2016, is now quietly delisted.

Compared with the current valuation of more than $60 billion in super unicorns drip, valuation of tens of billions of yuan of digging money, as well as the well-known Mushroom Street, Tongcheng network, singing bar and other companies from the Ali Department of entrepreneurship, Tencent's overall business department is obviously not big enough.

Why is it difficult for Tencent to launch big unicorns?

The reason for this situation is closely related to Tencent's corporate culture, management model, the current large entrepreneurial environment, and so on, thus creating the current situation of Tencent's entrepreneurial department.

1, Tencent's corporate culture is a double-edged sword.

Low key and pragmatism have always been the labels of Tencent. This is from the founder of Ma Huateng, to the entire top Tencent personality characteristics of the general, and this founding team personality characteristics, will directly affect every Tencent employees, it is understood that most of the Tencent Department entrepreneurs do things as a person, which makes the company they founded by Tencent corporate culture. Profound influence.

In the past, maybe there was nothing wrong with being low-key and pragmatic, but with the advent of the media age, a new torrent of public opinion has emerged in mass media, and brand and publicity have become essential qualities for every company. Compared with Ali's high-profile and high-profile entrepreneurship department, Tencent's startups, which are too low-key, will lose a lot of opportunities in the process of entrepreneurship and suffer from loss in exposure and awareness. It will be greatly reduced in terms of business cooperation, recruitment and competition.

Even though Lexin, which is at the top of Tencent's entrepreneurial pyramid, or Futuo and ucloud, has a low national awareness, which is related to their own finance or the 2B industry, the deeper reason is the cultural tone of Tencent's immersion and poor publicity. This has become a short board of Tencent's entrepreneurial department, which is hard to overcome in a short time.

The situation has eased, but not enough, with the addition of young entrepreneurs in Tencent after the 1990 s. Even Tencent entrepreneurs complain about Chuangjing.com:

2. A good product manager is not a good CEO.

Tencent is famous for its products. The most typical products are WeChat and other products. This also deeply affected the Tencent entrepreneurs. But this is also a double-edged sword, which causes Tencent entrepreneurs to go all the way in products.

Tencent's products, from QQ, Weixin and then to the later design of related products, users can feel it inside the concern for human nature. Social networking is characterized by the fact that it is impossible to predict the future at all, and that the best way to do the present is to focus on user needs and experiences. Excessive product thinking, but as CEO, the overall development and commercialization of the company is short board. There is a clear shortage of future trends and overall strategic structure.

At the same time, due to the tonality of products, the characteristics of the team are also created. Over the years, Tencent's standard to C business has led to the fact that the people it trains to make products are essentially mild. Good products must be slowly milled out in a mild environment. Most of the founders of Tencent's entrepreneurship department are gentle, not impatient, which directly affects the management of enterprises, more than warm and wolf less.

A Huawei entrepreneur in India told Chuanjing.com that he worked with Tencent when he started the business, but quickly parted ways.

A start-up company is beginning to spell out the basic links of products, vision, employment and finance. But in the future, to expand and develop, the company needs to be more business architecture capability, capital operation capability and overall outlook. Throughout the current Tencent entrepreneurship companies, we will find that Tencent training mechanism, the concept of this level is missing.

Due to excessive focus on products, many Tencent entrepreneurs, the trend, business realisation and other aspects of the grasp is not particularly in place. Startups, if they want to grow into super unicorns, have very high requirements for their founders' comprehensive abilities in terms of luck, systemic thinking, trend judgment, pattern, and so on, all of them Zhang Yiming and Wang Xing. Wang Xing, after the listing of Meituan, said:

Tencent entrepreneurs also admit that there are deficiencies in the building and training of strategic thinking and pattern of employees. A founder of Tencent said he was impressed with Ali's close collaboration with him after he started his business, and that Ali's employees were indeed far better than Tencent's people on strategic and organizational issues. Most of Tencent's work is not related to sales, there is no robbery with others outside, leading to the Tencent Department entrepreneurs in the entrepreneurship of the natural lack of awareness of competition.

3, more and more brutal entrepreneurial environment

As we all know, Tencent is a well-known company of humanization, Tencent is the first human nature, 30 days of full-paid sick leave, a billion living plan, family members open day, various insurance and other benefits, Tencent has always been the best comprehensive benefits known in the industry, which created Tencent people to be content with the status quo.

The annual bonus dividends range from millions to tens of millions of directors and above, and a large number of talented people have completely settled down at Tencent and are waiting for retirement. With changes in policies such as tax and social security, increasing difficulty in financing and high human costs, the entrepreneurial environment is getting worse and worse. Tencent employees who have the courage to start their own businesses will only become fewer and fewer.

The current Internet is changing rapidly, and Tencent shares fell below HK $300 in October 8th. Even the Tencent itself is constantly changing for new life. In the past holiday, Tencent made a big structural adjustment. Tencent was developing rapidly with the demographic dividend of China's Internet.

But now the Internet development dividend has reached its peak, the Internet incremental market has gradually become a stock market, the competition is increasingly fierce. Even the giants are facing new environment and challenges, have to restructure, for those start-up Tencent entrepreneurs, the challenge is even more serious. The more white-hot the stage, the industry competition, customers and resources to seize, we have to fight a lot of vicious battles to solve. In the Tencent, we only need to do our own things well and cooperate with the whole team.

But the environment is more complex, and the higher the requirements for entrepreneurs. One of Tencent's hundreds of millions of entrepreneurs said that there was a Huawei Engineer in the team who told him to go out and talk about the project in Huawei. The boss had only one sentence. If he couldn't hold it down, the whole project team's bonus would be deducted. There was no excuse for that. This method could not exist in Tencent.

It is precisely because it is too free from the world, on the road to entrepreneurship, Tencent graduates have suffered a lot, missed a lot of opportunities, resulting in the Tencent Department of entrepreneurship can not grow into a big Unicorn situation.

There is a saying in Sun Tzu's Art of War:

(titanium media Author: Wen / Xi Xiao Jing, South seven, editor / South seven road)

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