Editor’s Note: Wang has repeatedly stressed that success was accident, failure is the norm. Ninebot to get the “money” before, walk on a high wire comes with every step.
Oral | Yeh Wang
Interviews, organize | Liu ye
Lao Gao (Gao Lufeng) is mechanical, I saw, in 2003, when doing a project together.
When I read his senior year without the grind, especially busy, he just graduated, and entrepreneurship. We carried out a project called intelligent toys. The product was sold more than 2000 units, then a problem with quality control, making problems, funding is wrong. At that time it was too advanced, program experience really bad, very bad. The company from beginning to end more than a year.
When I talked to old high in the second half of 2009, he said, have been out of touch for a long time, to see a face. He just buy the end of the project, a serial entrepreneur, has been in Internet circles together, has been looking for opportunities.
He knew balance, feeling this thing is quite tricky, we both went to Sanya to experience one. Before actually experiencing, our prototypes have been made here.
We bought a four-wheeled scooter for the elderly, saw off the back, installed their own control panels. Because the program, control panels which are readily available, are the things that we chop down from robot above, gyro sensor, gesture detection unit, motor driver Board, are also readily available, we take a fly line up, set out in two days.
After all, we think this thing is fun, but it was too expensive, to seventy thousand or eighty thousand. 80,000 money then it’s not a toy, is a luxury, we want to make it cheaper, lighter and smaller.
Then I borrowed a friends Segway, all to play around, play feel, this thing is awesome, but to my asking price.
ZHICHUN road company at that time, Sigma building there. We play in front of the company car, a lot of people after just three words, how does this thing down, fun, can I try it on. After you try, how much money he knew after 80,000 dollars, fuck. Went away.
In 2010, we all jump in. I added there four people over regulating, including Yuan (Chen), Zhang Hui, Shen Tao, the three now are our partners, and a big fly (Xie Fei), now is our international Department Deputy Director.
Old high 2011 also has set up a Ninebot, called their joint, but before setting up, in fact, has been in operation for some time, looking for angel investors.
Because we know, that 3 million to take the machine to make enough functioning old job took 2 million investment, so the entire Angels combined is 5 million, but in two different companies.
My goal was very clear, is to achieve less than 10,000 dollars, ordinary people can afford. But it is still too optimistic, 10,000 dollars is not the majority of people can afford.
We analyze the structure of balance, preliminary estimates have the opportunity to be 8000 cost. Then tell whether it was problematic, cost 8000, you can’t sell 10,000, but dealer, store, hiring, pay taxes, and also to promote.
The first generation of products (Windrunner) for 2.5 years of research and development, long, look very simple thing today was bothering me for a long time, by today’s standards, the machine is not yet a mature product, more like a high performance and handling, but not enough to meet the production cost and the target machine.
We first do a 60 second made 200 all out. We sell 36800 39800, cost over 15000 RMB, as does not sell, the more operating costs add up to more than 27000, there are channels open and cost of sales.
For start-ups, in fact, water is a very important matter, means that someone has to pay for your value, you optimize the value chain is the opportunity. Gross profit is OK, no gross profit will be ruined, Maori is no net profit, this is a normal thing.
At that time we are saving money, the whole mold cost less than 2 million Yuan. As we are doing now is 5 million to 6 million, were made a lot of sacrifices.
Die out without finishing it directly using, for example, it’s possible, but at the time we choose to open a blank mold, rough after getting the products, but also do a lot of finishing, is mold cheap, post your.
Because there is no money, so I have to die to save money, spend more money on the production. Designed many fine things did not dare to use. Is afraid of putting too much, research expenses are too high, I can’t afford to.
That is the most difficult stage, that is, at that time, we have nearly completed the “big nine” design, we need money to do it. But clearly, we are fully capable of reducing it costs in half, we call it half the price falls further, performance is also very good, very nice.
But we don’t have enough money to do it, balance at that time nobody knows, nobody in this business. So I think we need a success.
From May 2012 to May 2013, we already have a full set of annual financial data. Well, we did almost 20 million or 30 million in the first year of life. Just Cavalli iPhone 5 Case
Vote in our road is Pre-A, at that time has sold 10 million first generation product performance, last voted in 12 million road, another new angel investment of 4 million. 16 million money came in, we legally the two teams combined together, are in working together before, there is de facto.
That is our most fun things a few years, because we know that close to the transaction, we will certainly do a great thing. Brothers went out and strung the line of the day, everybody drank two glasses of wine. Just Cavalli iPhone 5 Case
Balance is very small. In 2013, the easy step to do the maximum, sales are said to have hundreds of millions. In fact, we are almost at the start, but we do so slowly. Select easy step the start is in the direction of the car, we got to do is high-performance car.
Were not to think so much, mainly car isn’t fun, do it only as a transport, and we want to do is cool, with a sense of strength, the roar of engines, gears, mechanical things.
At that time our office in wangjing, developed most of the people in a house in tiantongyuan, which houses 7,000 rent, 300-square-meter, two-story, we are all into the basement laboratory, is hoping to make a good car can make your blood boil.
It seems this is coincidence makes some sense.
From the business logic, if Tesla started doing baic E150 level car like that, it won’t have so much fame, even if he has made, he is a car plant in California, he would not play the media headlines, nor become a source of electric cars counter hit such a point.
Ninebot a couple of years ago was doing high-end balanced representative. Our big nine in November 2013, that is lay the influential product. No better on the market, other than may be less reliable than Segway, torque and handling response and even stronger than it.
Team that is the most hopeful when I had no money, and many want to do do anything, now has 16 million this amount of money, we did a lot of adventures, but these were eventually carried off. After the release of nine responses are also very good, we also boast that when eating together, one day bought the Segway.
Iono Readme (part I): from Asimov to Ninebot
Iono Readme (part two): let everyone use our one wheel