This article is machine translated
Show original

A 32-year-old woman, a factory worker earning 9200 yuan a month. How could she earn 3 billion yuan in 3 years? It's simple. At 32, she only needed to interview Li Bin with an engineer. When Li Bin heard the engineer's dream was to make bicycles, not cars, he casually remarked: "Making a bicycle is less appealing than making one that can be borrowed and returned anywhere." The engineer showed no interest. Slightly annoyed, Li Bin turned to the woman and said: "Why don't you do it? If you can really do it, I'll give you angel investment. The bike only needs to last four years to break even." This woman seized the most important opportunity of her life. She said: "I'll do it!" Then Li Bin gave her 5 million yuan as angel investment. She immediately resigned from her journalism job and started working diligently, conducting research and interviews, and finding manufacturers. Initially, no manufacturers were willing to do it because bicycles need to withstand wind and sun for four years without breaking down—a very difficult task that would essentially require rebuilding. No one wanted the business. Finally, her connections as a journalist led to an automotive engineer willing to design a bike for her. The design included replacing tires with rubber, eliminating the need for air, and removing hinges to eliminate the need for chains. Thus, in an era before the concept of shared bicycles existed, Mobike exploded in popularity, appearing everywhere – the concept had taken off. Capital poured in, and competitors emerged. She took profits, and three years later, sold it to Meituan for $3.7 billion, retaining a 9% stake. She pocketed nearly 3 billion RMB. Her name is Hu Weiwei.

From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments