Top of the big era

There are 570 million mobile users in China, which is almost the same as the total number of European and American users. This is a huge market.

It is naturally very attractive to some foreign technology companies.

However, many foreigners do not understand the situation in China at all.

They think that just like developing other overseas markets, they only need to copy the successful operating model in the United States and simply change the language to develop in China, and then they will fall into a huge misunderstanding, causing their business to encounter troubles again and again.

Those multinational technology companies often encounter restrictions on local area networks, which are often only understood and not understood, just like the secrets in Bermuda.

Microsoft has achieved such great success in China because when Microsoft entered the domestic market, it did not directly conduct business. Instead, under the background of serious domestic piracy at that time, Microsoft played the card of setting up large-scale R\u0026D institutions to train talents for China, and donated computers and software to educational institutions such as universities, middle schools and primary schools, emphasizing the establishment of a trusting and mutually beneficial relationship, which increased mutual understanding and trust.

Apple's model is similar.

When iPhone came to China a few years ago, it also made a series of promises. In addition to setting up large R\u0026D institutions to help China cultivate a large number of excellent talents in the field of mobile phones, it also had the requirement of "localization", to help China build a supply chain system for the entire smartphone industry, and actively use domestic spare parts as substitutes for iPhone.

When Tesla came to China later, it adopted the same model.

Only seeing that others make money, but not seeing their contributions, this is the limitation of thinking that many emerging multinational technology companies will have when they develop in China.

In fact, it is not only a small startup company like Duolingo.

Even a large recruitment company like LinkedIn with a market value of more than 10 billion US dollars has such misunderstandings and confusions.

This is also the reason why Zhou Buqi actively opposed it.

The acquisition of LinkedIn has not been completed yet, and there are still oppositions inside. They want to adopt an active international expansion policy and lead LinkedIn to develop in China. The evidence of such a decision is that LinkedIn now has no office in China and no simplified Chinese version of the LinkedIn website.

However, LinkedIn already has more than 4 million users in the mainland!

It is conceivable that these more than 4 million users are a group of elite groups in China, all of whom are capable of working globally and well-educated. This is a group of very high-quality seed users! With such a group of excellent seed users, isn't it reasonable and reasonable for LinkedIn to develop in China?

Zhou Buqi firmly opposed it.

For the same reason, he also opposed an educational product like Duolingo to develop in China, and told Louis von Ahn frankly and sincerely that it would definitely fail if it developed in China at this stage!

Policy factors are actually secondary.

Because the domestic mobile Internet is in a crazy period at this stage. In addition to the thawing of financial policies, private investment institutions are allowed to widely absorb investors, and insurance funds are entering the market, making the domestic investment market full of hot money!

Once these hot money enter the market, they will start crazy investments.

This will lead to unprecedented competition in the field of mobile Internet in China, with a bloody "red ocean" everywhere and bloody and cruel competition everywhere. In such a competitive environment, foreigners are scared to death, not to mention participating.

It can be said that whoever comes will die!

Louis was very unwilling, "Are we really going to give up? That's the biggest market!"

Zhou Buqi was silent for a while, because he didn't think much of the development of many neighboring countries in China, especially educational products.

Under the general trend of increasingly strict supervision, let alone foreign educational products, even some domestic education giants with a market value of tens of billions of dollars can collapse overnight with a single order. Even the locals can't figure out the doorway, let alone the foreigners.

But such a reason is not easy to explain.

Zhou Buqi glanced at him, "Don't you believe what I said?"

"Ah? No, no..." Louis was shocked and explained quickly, "Believe, why not? I just don't want to accept it."

Zhou Buqi said firmly: "You said that with the recommendation of the Apple Store, Duolingo obtained very good data in the early stage. But you don't realize the difficulty of developing market competition in China. I can tell you clearly that the so-called Bermuda excuse is not the core reason at all. Even Google and Facebook will die without a burial place if they develop in China. This has nothing to do with policies, it has to do with competition. You can't compete."

"Alas!"

Louis sighed.

Zhou Buqi smiled and said, "I know you may not be convinced, and may even be a little bit unconvinced. Let's put it this way, meeting is fate. As long as you give up your plan to develop in China, I can give you two better options."

"Oh?" Louis von An's eyes sparkled, and he looked at Boss Zhou expectantly, "What are the options?"

Zhou Buqi said, "First, I can acquire your company. If you don't want to sell the company and still want to stay in the entrepreneurial state, that's fine. Ziweixing International can make a strategic investment in your company to help you develop."

"Really?"

Louis became excited.

He finally got a chance to meet with Mr. Zhou. In addition to asking Duolingo for advice on its development strategy in China, there was another important reason, which was to introduce capital from Ziweixing International.

Ziweixing International is an Internet giant with many social products and the industry giant with the most traffic in the mobile Internet field.

If there is a chance to connect with Ziweixing International and obtain its resources and traffic, Duolingo's development will be unprecedentedly smooth.

Zhou Buqi took the time to meet him, not just to do good things, but also for his own needs. "Either acquisition or strategic investment. You decide which one to choose. However, there is a prerequisite, that is, to avoid the market in mainland China. I can't just watch you take my money and throw it away."

"Can't even you do it well?"

Louis was still a little unwilling.

Zhou Buqi said bluntly: "Yes, I can't do it either! You have seen Ucgram and Snapchat, both of which are the most popular social products in the world. However, both products have avoided the mainland market at the same time. I believe you can also understand something from my decision."

Louis took a deep breath, "I understand."

Zhou Buqi smiled and said: "Then what do you want to choose? Overall acquisition or strategic investment?"

"Uh..." Louis hesitated for a moment and said slowly: "My previous plan was to strive for an investment... I never thought that there was a possibility of overall acquisition. I... I need to discuss with the team, I need time."

Zhou Buqi said generously: "It doesn't matter, you can go back and think about it slowly. Ziweixing International is considering an IPO recently, and there will be no major financial moves. Wait until August or September, and give an accurate result at that time."

"Okay, no problem!"

Louis still has a few months to consider, and he feels that Boss Zhou is indeed an accomplished entrepreneur. He does not have an aggressive aura and is willing to consider issues from the perspective of others.

Zhou Buqi smiled and said, "By the way, I would like to ask you for a favor."

"Just say it!"

Louis was willing to stand up without hesitation.

Zhou Buqi said, "I have invested in a company called LinkedIn, and I am a director of this company. However, LinkedIn is currently facing similar problems as you. There are a group of people within LinkedIn who want to actively promote LinkedIn's development in China, but I disagree. I hope you can summarize some of the difficulties encountered by Duolingo in China, and then you can go with me to the next LinkedIn board meeting and speak at the LinkedIn board meeting."

"Okay, I will go!"

Louis immediately realized something. This was not an extra job assigned by Boss Zhou to him.

This was an opportunity for promotion!

This was an opportunity for Boss Zhou to take him to the LinkedIn board meeting and show himself and Duolingo in front of those bigwigs!

Boss Zhou is so friendly!

I was touched!