The news of life information website Ganji.com, which has been circulating for a long time in the industry, has been confirmed by the Nokia ’s growth partner fund and other large financing. On June 1, Ganji.com announced that it had obtained a joint investment from Nokia Growth Partners Fund and Lanchi Ventures, with a total investment of approximately USD 20 million.
This investment was also officially called the largest amount of financing obtained by China's classified information industry and life service websites to date. Yang Haoyong, founder and CEO of Ganji.com, said that after the completion of this financing, Ganji will strengthen the application of classified information in the mobile Internet, channel construction, regional cooperation, and increase marketing efforts.
Ganji.com was created in 2005 to imitate foreign Craiglist. It provides users with a free information publishing and exchange platform. It is currently China's largest and most active local life information portal and the most concerned and classified user information industry website. Ganji.com received a US $ 4 million investment from Google in 2006 and Lanchi Venture Capital in 2008. Since then, news about Ganji.com's investment has been constant. Some media said that this round of financing of Ganji Network was finalized during the Spring Festival in 2010, and the proceeds will be used for brand promotion and wireless. At that time, Yang Haoyong denied the financing news, but admitted that Ganji was indeed in contact with various VCs, and there were no financing details that could be disclosed. Afterwards, there was news that Ganji.com had received about US $ 10 million in investment from Nokia's venture capital fund "Nokia Growth Partners", but the news was also denied by Yang Haoyong.
Two major orders within six months for classified information websites
Corresponding to this, in April 2010, Ganji.com's competitors and another major domestic classified information website, 58 City, received $ 15 million in financing from DCM and Softbank SAIF. Since the introduction of classified information websites in China in 2005, there were nearly 1,000 websites at the beginning of the game. After the big waves, the only classified information websites that can be called portals are only Jiji.com, 58 cities and ordinary people. After 5 years, classified life information websites have become the third fastest growing Internet field after portal websites and search engine websites.
Some analysts said that the success of Craigslist has also confirmed the business model of classified information websites. In 2010, China's classified information website will continue to maintain rapid growth, the market size will reach 60 billion yuan, and it will usher in its prosperity in the next few years. "The classified website provides classified information in the field of netizens' lives and is positioned as a localized application service for life. It undoubtedly captures the next application cut of the Internet." Yang Haoyong described the prospects of the classified market in this way. In his view, users of classified websites are almost independent of migrant workers, white-collar workers, and turtles. Everyone has the need to search for life information online, and classified information based on subdivided regions will be more sticky. Talking about the investment, Paul Asel, the managing partner of Nokia ’s Growth Partners Fund, said that with the widespread coverage of 3G networks in China and the emergence of next-generation smartphones, information services that serve people ’s lives will become the next key mobile Internet in China One of the applications. The Nokia Growth Partners Fund is a US dollar fund that was raised in 2008 and has a scale of US $ 250 million. It has been invested since 2009. He mainly invested in the Internet, wireless value-added and IT industries, and had invested in Youshi Technology and Skynet in China.
Chen Weiguang, a partner of Lanchi Ventures, another investor, said that with the increase of the Internet population and the expansion of the second and third tier cities, users' demand for online classified information services has grown tremendously. "Jianji's business has covered many different areas in many cities, such as renting houses, buying second-hand items, looking for part-time opportunities, etc., and from this you can find a good business model." He said. Qu Weidong, the investment director of Lanchi Ventures, who was in charge of the case, said when he chose to continue to make additional investments, he was very satisfied with the cooperation with Ganji in the past two years. "The Ganji network team has strong execution capabilities. All indicators in 2009 include revenue. , User growth, etc. are all over-fulfilled, plus we are very optimistic about this market, so we are willing to continue additional investment. "Qu Weidong said.
Lan Chi Ventures once reached out in 2008 when it was the most difficult time to catch Jiji. Chen Weiguang said that the reason for optimizing Jiji is that this is a life application in the Internet field. It has great potential. More importantly, it is optimistic about the execution ability of the team . "If you have a good idea, you need an executive team to implement it."
Hurry up and hope that the content will support the future
"The cooperation with Lanchi has been very pleasant," said Yang Haoyong, who believes that Lanchi brings not only funds to Ganji, but also that VCs can anticipate the company's problems and give immediate reminders. "For example, we can give a lot of suggestions on staff growth, capital expenditure, and brand promotion." More importantly, venture capital and the company are consistent in their strategic goals, and in the promotion of some decisions , Will be quick and convenient. Yang mentioned the requirements of investment institutions for enterprises, implying that Lanchi does not really emphasize profitable growth, and is more willing to see the progress of the platform to provide users with a better application experience. "In the long run, catching up with IPOs is a matter of course. When it comes to profitability, we can make profitable reports at any time, but so much money needs to be spent after all, and investors are not willing to see this month's book is 20 million. Next month is 22 million. What's the use of so much money? "Yang said, he said that he will invest a lot of money in marketing in the future, so there is no need to pursue too much profit data at this moment. Important It is to do a good user experience and increase the base.
"This is a process of rapid growth and accumulation. Our sales revenue in 2009 has increased tenfold. In 2009, it was a financial crisis, but even in that case, the profit balance was still achieved." He said. When talking about why he chose the Nokia Growth Fund for Series A financing, Yang Haoyong said that since August 2009, he has been in contact with many VCs. The main reason for Nokia is that it has superior resources in the wireless Internet field. The idea is the same as catching up. "It's been a pleasure working with them for two months."
Speaking of future development, Yang Haoyong introduced three important tasks facing the future, including market expansion, regional cooperation and channel expansion. "Our main source of income in 2009 is still concentrated in direct sales in Beijing and Shanghai. The next step is to do channel expansion, hoping to open the face through agents and other forms in other cities." In addition, Ganji.com It will consider the form of mergers and acquisitions of similar websites, cooperation with vertical industry websites such as Tintin, Dianping.com, and regional media to better spread the content advantage to other fields. "Compared to other partners, whether it is a sns, a forum, or a portal, we are more willing to position ourselves as a content provider. I hope that the future channel revenue can account for more than 50% of the total revenue of Ganji." Yang Haoyong defined this way The future definition of Ganji. In his view, the current release of 200,000 pieces of daily life information is enough to support the larger future of Ganji.com.
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