Fire Music Technology: Making intelligent projector, how to turn 6 times the valuation in six months?dark horse, said: Fire Music Technology make intelligent hardware time and millet similar, the difference is, millet chose their mobile phones, and the fire Lok Technology chose projector. It is how to do it? More importantly, fire Nike Shoes music technology in the learning process of millet, to find its own development model. The following is a fire Lok Technology founder Hu Zhenyu dictation. Wen | i Black Maka Xi Edit | Sarkozy mediated Oakland Fire Lok Technology founder Hu Zhenyu I was born in 1983, Hunan, is a serial entrepreneur. I studied computer, from thirteen or fourteen, began to write code. After graduation from Hunan Normal University, I worked as an ordinary programmer, came to Guangzhou for an Internet company. In 2008, I met a partner in Shenzhen, we were made based on Nokia's Symbian system, a micro-channel similar product, but then did not do it. In 2010, Apple gave me a lot of inspiration, it uses hardware plus software to build an ecosystem, this model is very interesting, I want to try to do the hardware. I judge that entertainment will be a general direction, movies, sports will have a great imagination. In the end, I chose the projectors in the field, do the smart home theater. The logic is very simple, is to do cinema projector costs low, to go into every home. After the film at Cinema is dominated by home theater. The second half of 2010, fire Lok Technology was established. In January 2011, the Company completed registration, I quickly got 700,000 yuan angel investment, followed took eight months to make a first-generation product. We are looking for product design outsourcing. After the finished product came out, looked at the special cottage, shape plastic box, it was also sold several hundred units, each priced at 2699 yuan. At that time we do not have any \u0026 ldquo; quality \u0026 rdquo; concept encountered the same problem with a hammer \u0026 mdash; \u0026 mdash; the yield is very low. Only about 60-70%. The problem lies in the supply chain. The first generation of products is not tricky, angel funds are spent almost, barely propped also developed a second-generation product, despite the appearance of improvement, but still not out of the cottage, can not mass production. Products do it later, we started looking for channels and agents, the traditional sales thinking. That is my business since the darkest and most painful stage. By the end of 2012, the company was fast does not survive, the last owner of a real estate investment and our 8 million, took 33 percent of the shares. At that time the company's valuation was more than 20 million. At that time, millet has fire up. We found that millet marketing model is very successful. At that Air Jordan 17 time I have a sense of crisis in particular, on the formation of electricity supplier team, the entire sales model to electricity suppliers on the turn. The company began to transition the business in the second half of 2013. I faced a lot of resistance, because it was the investors are very opposed to transformation. They thought more traditional. They believe that once turned to the Internet, traditional channels no one wants to play with you. In addition, they can sell on the line can not be expected also in doubt. But I think, have to do it, I can not take the opportunity to give its competitors. At that time, everyone in the school millet appointment buying patterns, our second-generation products are tried and found to play no more. New general came out, sales will be high, but the entire reservation buying patterns can not long continue. I carefully to the next, or product positioning issues, including product design, user experience, brand appeal to users not attractive enough. The conclusion is that if you can not play the price of millet, millet do not learn Nike Heels Boots unless you lose half the selling price. Price or less, when we prefer something better, consumers do not care about two hundred dollars. If our prices more expensive than competing products, that product will be out of differentiation. The company must now have a brand new type of transformation, we must then with capital strength, we need an A round of financing. 2014, we contacted the Fortune Venture Capital, through contact with the morning, so that the entire company has completely changed the direction of development. Fortune firmly supports us to \u0026 ldquo; Internet + \u0026 rdquo; model transformation, and give Air Jordan Others us a higher demand from the team combination, to product definition, design, functional experience, brand management, marketing models provide many constructive comments. Especially the user experience, level of experience to do apple sense. To this end, we invited the outstanding industrial design team and the hardware team to join, most people have more than ten years of work experience, many from Foxconn. Especially my chief design partner in China's largest design company to do the design director ten years, took a lot of awards, did hundreds of products, in order to win he joined Nike Air Force 1 the company, the phone has been hit from the night 6:00 . Goal of the new team members are the same, we are all want the ultimate product. With the right direction, a great team of motivated, three months after we come up with a prototype, which is now the \u0026 ldquo; nuts G1 \u0026 rdquo ;, the end of our product optimization and stable production. September 2014 was held in Beijing \u0026 ldquo; nuts G1 \u0026 rdquo; product launches, a set of technology and art of home theater products, allowing users to enjoy high-definition, the hundred-inch large screen and has a sense of the experience of cinema-like audio and visual effects. It will soon open through the official forum community reserve, without much publicity, the access to the user's buying enthusiasm. The ultimate product is the only way to get users of all ages hands. Prior to a change in the market nuts like a square or rectangular design, but with a circle. In pursuit of the perfect color and gloss effects, just an aluminum roof proofing machine, to spend tens of thousands. In addition to design, other modules are the industry to get big. Nuts G1 integrally sound is known as \u0026 ldquo; The Father of Chinese tube amp \u0026 rdquo; it took several months to complete the design and debugging. A smooth financing later, after coming in the morning and IDG, the entire company to another stage. A round of valuations we are a multi-million, then the valuation of B round of six million, six months quadrupled. A wheel of time, just to attend the annual meeting of the morning met StarVC investment manager, he put our product pictures sent Huang Xiaoming, Li Bingbing, Ren Quan look at the micro-channel group, the three stars are very fond of our products, the next day Ren Quan personally expressed interest in hotel investments nuts, followed by the morning and flew to Shenzhen, IDG consensus. For the purposes of the morning, before they decide to invest in a risky venture early on its business model, the market cake can do much, how much higher ceilings have done thorough investigation. However, we feel, Nike King to find investors to find more important than money. Investors bring more than money, more is to look at the issue of the angle and height. Today, we have not sold a traditional hardware company, but turned into Internet companies, content-oriented large platform. For future products, we are with investors reached a consensus that nuts smart home theater to become Wanda Cinema online. About Fire Music Technology was founded in 2011, after several years of research and development, in September 2014 launched \u0026 ldquo; nuts G1 \u0026 rdquo; smart home theater. In October 2014, obtaining venture capital from the fire Lok Technology Fortune, IDG capital, 60 million yuan A round StarVC Air Jordan 12 joint investment financing. May 2015, the company B round of financing landing, worth a total of 200 million yuan. Fire Lok Technology is undoubtedly present intelligent hardware circle horse. 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