Although Zhou Shi was a little skeptical about his charm, after soliciting the opinions of all parties, he still accepted Yuan Tianfa's surrender (should it be regarded as surrender?). After several negotiations, Yuan Tianfa was left to continue to communicate with AIG and AIA people to express his sincerity. It is an important player on Wall Street, and although it is now a state-owned enterprise, it is a hassle for his acquisition, but at the same time, it is a lot less troublesome.

In a few days, Zhou Shi sought the support of all parties in terms of funds, policies, laws and other aspects, as well as communication with the current chairman of AIG, but the effect was not very good. Within a few days, Zhou Shi finally couldn't stand it anymore and left the matter here and returned to Silicon Valley.

Yelp is growing quite well, with 20 million registered users today.

"We have more than 5 million actual consumer users worldwide, and the conversion rate is around 25 percent, with a high repeat purchase rate. The main competitor, groupon, is approaching 8 million users, thanks to the acquisition of a five-month-old group-buying company called CityDeal in Germany. "Shen Haoyu

"How's our travel review section developing?" said Zhou Shi

"With the promotion of the Yelp mobile app, we have developed rapidly in the area of reviews, which has covered hotels, attractions, restaurants, airlines, etc., which are involved in travel and local life, and have begun to carry out travel planning and hotel, attraction, and restaurant reservation functions. However, we have a strong competitor in this area, TripAdvisor, which has been operating successfully for many years. "Shen Haoyu

There is not much prospect for simple group buying, but the group buying reviews will form a huge amount of traffic, and these traffic prospects are very considerable if they can be used reasonably. Food, clothing, shelter and transportation are the four basic needs of human beings. Not to mention clothes, this has little to do with his website, but the three aspects of "food, housing and transportation" are promising.

"How are you discussing, do you want to start a mobile phone-based taxi service?" Zhou Shi asked what he was most concerned about, he always had doubts about this, Uber is good, but its development has been accompanied by various legal disputes and moral questions, as a Chinese, he may not be able to break through many obstacles like Travis Kalanick.

"Someone has already launched this kind of service, and we can try it too. "Shen Haoyu

"Who's there?" Zhou Shi

"A company called Uber has launched a ride-hailing app in San Francisco, but now there are not many users and car resources are not abundant, so I went to experience it and felt that this service is very promising. "Shen Haoyu

Uber came out now, a little earlier than he thought, but he didn't know when Uber was founded, so he didn't have much doubt. Since it has been established, Zhou Shi will not go to the acquisition, and it is good to have a benchmark to attract attention there. His vision for Yelp is to become the first choice for personal life services, travel, accommodation and travel, and its overseas development may be different from that of Meituan in China, but the goal is obviously the same, to become the leader of the O2O and sharing economy industries. There is also an important mission, which is to promote mobile payment and promote the time payment APP.

"Then let's launch our own products quickly!" Zhou Shi urged, and then arrange someone to invest in Uber, he never likes to fight alone, and he also likes to fight alone when dealing with a person, after investing in Uber, the two companies can better face the challenges of the market.

"Okay, I'll arrange it, in fact, there is no technical problem, someone has already been arranged to do pre-research, the important thing is that we put this project in the parent company or the financing YLEP group purchase company?"

"Let's operate independently, don't attract too much attention at this stage!" Zhou Shi, Uber, an online car-hailing service, has little to do with group buying for the time being, and it can't reflect its value, but Airbnb is more suitable for yelp. But since they were separated, he didn't think about merging now. This is not because Zhou Shi is reluctant, but in order not to affect the valuation level of YELP.

Don't worry about technology, and most of Yelp's servers are on Time Cloud, saving a lot of costs, and the strong demand has prompted Time Cloud to continue to expand its scale, and Yelp has concentrated its limited funds on more important things, for example, it has opened up markets in nearly 200 cities around the world (excluding China) and has 2,000 employees. The rapid expansion in a short period of time makes it difficult for the quality of personnel to meet the requirements, and a large part of the funds are invested in personnel training. In order to ensure the company's operation of low cost, low price, low gross profit, high technology, high quality, high efficiency. Ensure that it is guided by consumer needs, not merchants, and adhere to the company's values.

Sitting in the company's office, Zhou Shi discussed with his secretaries while dealing with various things in the company.

"Mr. Zhou, can I ask you a question?" asked a new secretary

"What's the matter, you ask!" Zhou Shi didn't look very busy, and said casually

"YELP is a company that we don't think is top-notch in terms of valuation or potential, why do you spend so much energy on it? Isn't it more important on AIA's side?" asked the new secretary

"My ability is limited, and the more important things are, the less I feel like meddlers. No matter how important AIA's affairs are, they are not what I am good at. With so many professionals in charge, if it still fails, I go too. "Zhou Shi

"But why YELP, and not any other company, like Miramax, or Micron. ”

"Choose what you are best at, relatively speaking, I know more about the Internet, things here are simpler, and the potential of YELP is not necessarily bad!" Zhou Shi smiled slightly mysteriously and did not elaborate.

"Yelp is important?"

"It may or may not be important. Zhou Shi stopped him from continuing to ask, and answered your three questions, do you want more? Do you know that if you don't keep secrets, you will lose your ministers, if you don't keep secrets, you will lose your life, and if you don't keep things secret, you will be harmed. Now the matter has not been skimmed, where can I talk nonsense.

Is Yelp's potential great? Zhou Shi can be very responsible to say that it is not big, even if he reaches his limit, Meituan plus Uber and Airbnb will have a market value of 100 billion US dollars. And the probability of reaching this limit cannot be said to be none, but the probability is extremely low. Not to mention that he won't buy Uber, even if he buys the company, there will still be many such competitors in the market. What's more, the market environment in China and the United States is different, and the Meituan model has little chance of success in the United States. At this rate, the market value of 100 billion US dollars may only be seen in dreams. He invested in yelp because of the explosion of the group buying market and the valuation miracle of Groupon's group purchase of 10 billion US dollars in three years.

I'll talk about it later, but running YELP well is the foundation.