Beijing, September 12, recently, the net transfer of an internal mail Gong Haiyan exposure in the message, Gong Haiyan admitted that because of his aggressive too optimistic, front too, spent a few months ago that the company financing, has been using their own funds to support Si Yunzhuan." She also mentioned in the mail, I hope the affected colleagues can find their own arena as soon as possible". Thus, Gong Haiyan’s two venture capital chain may have been broken, so massive layoffs.
strategic focus shift frequently indecisive
at the beginning of 2013, Gong Haiyan retiring Jiayuan after only a month, 91 foreign teachers rushed to the line on the network. However, 91 foreign teachers at that time the price of up to $300 per hour, and the price of English training institutions under the line quite, resulting in the number of foreign teachers and the conversion rate of 91 users has been very unsatisfactory. Later, Gong Haiyan admitted that from the beginning to do 91 foreign teachers soon, I thought of the transformation, because the 91 foreign teachers network is actually a relatively thin, very narrow face, the competition is very fierce." Midway real fund partner Wang Qiang’s exit, more firmly the idea of Gong Haiyan, "because Jiayuan is a huge amount of users, but revenue is not a plate. I don’t want to start my own business in a space where there is no room for growth."
in the 91 teachers sideline, in November 2013, the free online education platform ladder line. At that time 140 people team, there are 120 people in the main ladder, only 20 people in the maintenance of 91 foreign teachers network. Ladder network can almost be regarded as the opposite of 91 foreign teachers: from non exam to exam oriented education, from charging mode to free mode, do not do the platform to a large platform. Gong Haiyan once boasted, "for a lot of grass-roots entrepreneurs, the ladder network model is unbearable weight, this is a gamble" she said, "three years to burn 4.5 billion to promote".
July 2014, Gong Haiyan has not yet set a ladder to announce the need to do interactive live platform – the good network. Although Gong Haiyan claimed that the money is not a problem, but she was anxious to launch the good network, hoping to see the flow of family education, she still has a profit pressure. At the same time, in order to get rid of the heavy burden, 91 foreign teachers network was split, independent accounting financial self financing, no longer rely on the parent company transfusion. Now, it is no good net below, ladder network layoffs, Gong Haiyan’s online educational trip seems to teeter.
new financing hopeless capital chain or broken
At the beginning of the establishment of
91 foreign teachers, Gong Haiyan from his pocket of $10 million. In the first two months, it cost about $4 million. At the same time she was actively seeking angel investment, but decided to quit it real fund partner Wang Qiang, gave Gong Haiyan no small blow. 10 million for the 91 foreign teachers is not enough, Gong Haiyan in 2013 after the Spring Festival to find NetEase capital and other VC launched the A round of financing. Although in July the same year, 91 foreign teachers won the $4 million NetEase lead, but has long been suspicious of the 91 foreign teachers mode