Huang Wang: 3 times to zero, only 1 billion US dollars in Huami

Editor's note: Prior to Wami, Huang Wang had opened three companies and made a lot of money and lost all his money. Today, Huami has become one of the most successful millet ecological chain companies, but it is more uncertain.

(Huami CEO Huang Wang)


At the age of 22, Huang Wang was tangled. Is the postgraduate still going to Huawei?

According to the original plan, he would choose to go to graduate school and read the microelectronics for 4 years at the University of Science and Technology of China. He wanted to transfer to graduate school of computer science and the tutor had already contacted him. Can not plan to catch up with the changes, when he saw Huawei playing "annual salary of 100,000" in the school, he hesitated.

The door was kicked by the classmate. " He pulled me and said to interview it together. We had a good relationship. I thought I would try it. Then I wrote a resume and I read a recommendation letter from a tutor and said that this classmate was doing it. If this is a good thing for this project, go to the interview. "

Behind the plot is very vulgar: Huang Wang, the classmate was brushed, and he took this expensive offer, the idea has become "work first, and then Kaoyan can also be."

Although it is impossible to verify, there are obviously not a few people who have the same mental history as Huang Wang.

" Affiliation to a Huawei department will find that the next-door person is Tsinghua University. This is Peking University. There is Jiaotong University, and here is Fudan University. This is Nandan University. It's a bit like college entrance examination just got into college. which province is the champion, which is gold, silver, which province. Huawei then basically the Chinese university graduates in all first-line strokes are passed, and we are feeling at the time of Huawei. "

Huang Wang likened this work experience to another study.

“The relationship between colleagues is very good and I feel a little bunk. I said I want to open a company, do this, and do that. They help me out. Everyone has a dream, but some people feel that they are not suitable for entrepreneurship. then to the end of 1998, I think you can not always want to ah, come out to talk about it. "

At this time, Huang Wang called the tutor.

"I don't think it's worth 100,000 yuan a year here. I still think I think entrepreneurship is more interesting. I told him that every morning, I remember that it was 8:30 to work at that time and it was 8.30 to 10.30 in the evening. From time to time, I don't see the sun every day. I said it wasn't what I wanted."

"How does the tutor say?"

"He didn't say anything. He said you think about it. I soon rang it back to Hefei when I called. When he appeared in front of him, he was surprised and asked me if you left. I said I left. "


Huang Wang is a native of Guangxi and prefers the eating habits of the South. He returned to Hefei for two reasons.

“ The cost of living in Hefei is low, and the cost of wages is also low. If you are close to your alma mater, you can recruit a lot of part-time teachers. The original teachers and seniors are also equivalent to relying on entrepreneurship in colleges and universities.

At that time, there was no incubator and there were not so many VCs. If you start a business in Shenzhen , you cannot afford to rent on the second day and you have to sleep on the street. In Hefei, if it is not feasible, the students are still studying in schools, and it doesn't matter if I go to school dormitory. There is no problem for the school cafeteria to eat a meal for a few dollars. ”

The motivation for starting a business is also very simple. The WPS that Bojun wanted to do in the past and Hanka developed by Shi Yuzhu were like Facebook and Google that could be touched by Huang Wang. Therefore, it is natural for them to “do a product that affects many people”. thing.

But obviously, he underestimated the difficulty of this matter.

“The biggest impact for me is that, at first, I think entrepreneurs can do a good job just by doing a good job of the product, and at the most they can deal with industrial and commercial taxation. But when you organize a team, you will find that when you do something similar, Everyone has their own ideas."

The first time the partner in charge of sales left and said that he wants to return to Shenzhen:

"At that time, I was silly. I didn't sell anything. I could only sit beside the little girl who was selling things. She called the customer. I handed her a small piece of paper and listened to the customer's question. I wrote about what you should do. Say."

The second time the partner in charge of the hardware left, saying that he would like to study:

“This is even worse. I think I may not know what to do in a month. Later, I had a younger brother. I found out that he was originally engaged in software. How can he draw circuit diagrams and can also be a board? Then I think I’m not worse than him. Grab teeth from drawing circuit diagrams to making circuit boards."

Having experienced two “high-level turbulences”, Huang Wang felt that he should be thankful for his alma mater. “The University of Science and Technology has this tradition and many classes have to be learned. Circuit design, software, and basic physics courses, including quantum mechanics.”

In the end, he discovered that "software, hardware, and sales have all worked themselves. One can also do this company. Then the company began to make money, began recruiting people, and recruiting people."


"When the first company did a good job, all the chip companies including the global Top5 found us.

The first was Motorola Semiconductor. At that time we were already the largest partner in his Asia Pacific region. All of our tools used its chips and processors. They will accelerate the development of their customers based on our entire package. ZTE, Huawei, Lenovo. This tool is also used in all electronics, communications, and electronic engineering majors in China. ”

The impact on the industry has made Huang Wang feel a sense of accomplishment, but he also feels troubled by his own limitations. This situation continues until the second company.

"The second company is to help OPPO, Blue Devils, Meizu do MP4 product design, basically sold out, OPPO voted so many TV ads for this product.

It was also very comfortable at that time. Tens of millions of dollars were also earned every year. But this success is a success in some segments. I always think how to do it is not a good one. When you go to a third company, you want to do a big one.

In fact, it is also a natural continuation, MP3 no screen, some are a small screen, MP4 screen is bigger, then you find that many users can say in the MP4 Riga plus a Bluetooth mobile phone, or make a PDA, make a music video Can see.

We were the first to really decode such formats in such a small digital product. It started with the Flash format, and later everyone looked at it in various formats. We gave this technique to the OPPO, and then we began to make tablets ourselves.

In 2009, I started to make tablets. The industry was very shocked. When we released the first product, the iPad did not come out. We had our own system based on the Linux GUI, and then we switched to Android from 2010.

At that time, Xiaomi also had a software called Xiaomi Driver. The software could check how many times you had violated the regulations. We talked to Xiaomi and said if you can preinstall the software on us, I will pay you.

I think I am very aggressive and very profitable. At the time of making the most money in 2010, it also voted for a film advertisement. At that time, the film's ad placement was still trying in the market and it was not expensive. ”

There is inertia in people, and two times to help dangerous buildings in the dumping, twice the successful startup on the book, Huang Wang does not think that external forces are necessary conditions to solve the problem. Until the flat-panel market turned sharply, he found that he did not have so much money to do brand transformation, or continue to invest.

In other words, “When 2011 and 2012 began to decline, all accumulation in the first 10 years took place. After returning to liberation overnight, you discovered that you could not afford it. ”


When talking about the third company, Huang Wang repeatedly used the word "trail".

“We found that doing so many technological innovations on the tablet did not make any difference at the end. When an industry fails, how do you make it? It is not okay.

If you think about it every night, you will find that you have spent tens of millions of dollars. In just two years, all these pits are reflected in your brain and everything is clear. ”

The company took the closest step from the closure, and Huang Wang came to arrears in wages.

" Our batches, the more grassroots employees are immediately dispatched, for example, the month or the second month. Then middle-level officials will talk and say that they will be issued two months later. The core executive will give you 2000. If you don't think about it, it's just like this.

At that time, the decline of the tablet market was perceptible, and the most obvious signal was that the iPad became the only non-growth in Apple's product line. At that point, Huang Wang decided to switch to wearable.

"In January 2013, I came back from CES. I immediately formed a team. The core of the distribution team went to the watch. A little bit of people would continue to sell computers. It wouldn't stop because it was the cash flow of the year. The brand channels also rely on tablet computers.

Turning to wearable, there was only Zwatch in September that year.

In Hefei, there are advantages in starting a business. Compared to a stable and closed environment, it is also possible to reach that point in time, and in the case of such arrears of employees' wages, smart watches are made, sold, and made some money.

However, when it comes to wearables, we have a scary place. It can be worn very hot in 2013, and Fitbit, Jawbone had a lot of money at that time, so we thought we would continue to do it in a small business. Will we do it? Do you still have to work?

In fact, when we were doing the first company, we talked to IDG. IDG didn't understand this thing. Of course, their judgment is correct. This thing is not big, but this company can live well in a professional field. It's correct, I said you don't vote, you don't vote and we also do it very successfully.

Then continue to do a second company and become bigger again.

I have formed a thinking formula, why do people look for investment. Looking back, you see our company in this circle, including Meizu looking for any investment, and finally looking for Ma Yun, why do you want to find Ma Yun, not the lack of money? When you talk to the bigger giant PK, you will find that it is not in the same dimension.

Therefore, in the second half of 2013, my main task was financing, but I did not look for Xiaomi, but it was exactly Xiaomi who voted us. This is very interesting. ”


“ In fact, when we were looking for investors in 2013, we all asked me if Xiaomi did what you did. I later answered this question and simply said that Xiaomi is investing in us. This is not a problem.

But still look at different investors, like before, people asked Tencent to do what you do, the same logic Well, if you do APP or an Internet business, Tencent do what to do, there are always ways. As long as you are a real player in this industry, you know what to do.

Anyway, I think that Xiaomi may do anything.

Sun Peng, the founding member of MIUI, is my alumnus and is also a China University of Science and Technology. I remember that he was flying to Kodak and was on a business trip. In the vicinity of my company, he passed along to us.

I will just make a watch and say to you, go back and try. If you feel good to be able to sell at Xiaomi Mall, he said, OK, I'll go back and wear it. As a result, Lei Jun was worn for a few days. Lei Jun put it on the table and talked about it. I think that Lei always has an interest in talking. There should be no problem with Xiaomi Mall. I said let's talk about it.

The personality of the HKUST is like this. It won't tell you for a long time. He said that Ray always said that this is quite reliable. You talk to him and you don't talk about anything. I'll talk about it. You know that at that point, everyone still wanted to chat with him, and I was actually quite bullish at that time, taking the Meizu cell phone.

That Ray always told me that your reader did a good job. I said when you searched the Internet, you took a look at our Smart Devices Reader (APP) with PDF function. Word of mouth is better than others. , The major Android market evaluation, we are four and a half stars, how much are you? Still talking about this thing.

So basically we were still very confident about our product capabilities, but talking about the Internet was really dumbfounded.

What impressed us was that when we exchanged business cards, I gave him my e-mail address and discovered my specialty. Lei always listened to you, and you weren't doing the Internet. So long, who can remember. I said that there is something. We have always done this. Someone else searches out the smart device and comes out. Now what is the domain name? Then he sighs.

I talked for almost two hours that time, but he didn't talk about investment. He told me directly. I'll introduce you personally. Liu De, you talk to Liu De about that. ”


In 2013, Xiaomi's main battlefield was mobile phones, televisions, and routers. How did I lose this IOT? In June of that year, Lei Jun put forward a "millet ecological chain" internally, with the intention of using investment in the way. At the time, his slogan was - grab the company.

"We are in the company (China meters) in 2014 established in January, before the establishment is already doing (millet bracelet), and both sides while talking about products, while talking about investment, did not say to wait for the money to me to do his work We are not like this.

At that time, the core team stopped the development of all tablet computers and smart watches in 2015, and snowed the 'Smart Devices' brand. The resistance is not great. The first is that the pressure of the company is very large. Second, I think everyone also believes me.

The only thing I need to endorse is that we don’t do our own brand, and everyone feels like they’ve returned to the second company to help others. Formerly to the OPPO, the Blue Devils did this thing. Now it is to Xiaomi to do this thing. The whole team must have some emotional resistance.

They certainly do not dare to say this directly to me, but I can feel it, because when they cooperate, they will ask us if they have a bracelet or something, but also say that the millet bracelet is not our 'kid'.

From 2009 until 2013, four years to make a brand from scratch, this feeling must be there. In fact, from the establishment of this company, which is after the millet bracelet, everyone has been saying when we pushed their own brand. I have been comforting everyone and said, you have to put up the millet bracelet and say, we can chat, but There is no time now.

In March 2015, Apple started the Apple Watch. We feel that this is a bit of a dilemma. When Apple Watch was launched, our monthly sales began to soar, and in March and April, it rose to 1 million a month. Only really crazy, we can not explain, in fact, think about it last year, last year, feeling is more than 5 years, it feels a bit far away.

Initially, we internally estimated that the sale of millions of millet bracelets should be able to do so, with the flow and influence of Xiaomi. But we did not expect to be able to do 10 million, and finally sold 20 million.

At that time, I felt that this matter should be started. We must really start to act and say how we do it. How do we define this product and how do we do it? ”

(High circle endorsement Huami own brand Amazfit)


“In the beginning of 2014, there were very few companies in Xiaomi's ecological chain. Rather, Ning Ning’s leadership in industrial design was basically her own work. We had a lot of exchanges and conflicts in the process. Finally, I told Ning Ning that We are looking for a very strong industrial designer.We are a startup company and we can't always rely on Xiaomi. You can also do your own brand. This is impossible.

She first introduced me to Yu Tao, saying that Tao Tao also wanted to join a good startup company in Silicon Valley. Dege is the oldest person in this circle. She said she wouldn’t ask you to find Dege. I ran into Dege. When I went to Xiaomi to find him almost every day during that time, I said that if you did not find Hao Tao, you wanted to endorse the book for me. How did he respond? How would you say to him?

On the National Day that year, when Min Tao had not yet joined the company, I ran to the United States to find him again, and then took him to talk about the next round of financing, let him feel. Later he became our first employee in Silicon Valley. He was looking for a house, renting an office, and so on. In this process you will find that with the gradual addition of many cattle, slowly the team's new core competencies and concepts are formed.

The team is constantly expanding. Our judgment on the market is also very simple. The entire bracelet market is actually a millet bracelet. Where is the opportunity? How can we tell a story when we make a product? Later we set a particularly high cold tone that is fashion.

We have experience in branding, so we don’t think opening up is necessarily big. We don’t have to say inside how good this thing can be. Because fashion itself is a high-cold thing, we want everyone to know that we started to make a brand. , and then to the entire supply chain, media, investors, the government many support our partners to pass such a message, as to how much is not what we care about most.

I feel that the brand is a child. When you were born, you have to let everyone know that the more you know, the better. Then give him the first tone is fashion, then we sent a sports watch, high-tech factors came in. Now, the feeling of exercise is there.

Prior to this time of the Swami watches, Zhang Xiaolong was probably the only one who had seen the outside company of our watch. He said that I think you are still very good, probably want to do sports watches, smart is included. This sentence is summed up by him, and I think very arrogant in my heart.

Therefore, during the process of the child's growth, or the growth of the brand, its personality will become more and more abundant. It will no longer be fashionable and cold, and its brand content will gradually be enriched. ”


As the only second-generation turnover exceeded 1 billion yuan, and the valuation exceeded 1 billion US dollars in the millet eco-chain company, people have always been watching the relationship between Hua Mi and Xiaomi. According to Liu Xinyu, product director of Xiaomi's ecological chain, Huang's “difficulties” have always been annoying.

“Actually, I told our internal backbones that our most hopeful status is the relationship between Jingdong and Tencent. Huami is doing extremely well in one area. Xiaomi is an important shareholder of us. We, in turn, support Xiaomi in certain areas. A field of influence.

I always thought that Wahmi was a human body data company. Xiaomi could not be a human body data company. He was a hardware-centric company or a company that now has a mobile phone as the center and connects everything. So we are essentially different from millet. Xiaomi also holds a lot of our shares. Why does it have to do it alone unless we can't do it well?

Dege also said that in the entire ecological chain, it is impossible for all companies to wait until the day of listing. There will always be some sales, or mergers or complete failures. This is the normal state.

I think that until now, Hua Mi hasn’t necessarily said that she will be able to go to the day of the listing. There is still a long way to go and there are a lot of gongs to fight, so no one can say this process well. I can only say This is probably the direction of ours. If it is successful, it must be big. ”

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