Behind the fall of a giant, there is a lot to reflect on.
Positive Solution Bureau original
Business has been struggling, and business wars are endless.
The competition for shopping malls often seems silent, but when you recover, you have fallen from the top of the mountain to the abyss.
In our impression, the fall of the Qin Dynasty seems to be an instant, in fact, it took only 2 years from Chen Sheng Wu Guang's uprising to Liu Bang's capture of Xianyang.
But in a shopping mall, how long does it take to get from No. 1 in the industry to heavy debts and dying?
The answer is that it will not be used for even 1 year.
Today, let’s talk about such a cruel business case.
The protagonist of the story is:
Kay Rucker Navigation.
After 90s and 00s, it is possible that none of the 10 people knows Kay Rucker navigation.
But the Kay Rucker navigation was much more bullish than Baidu and Gaode navigation.
Chinese family car ownership has already exceeded 200 million.
But in reality, the large-scale entry of automobiles into ordinary households in China is still after 2000. Previously, cars were basically all kinds of buses.
Back then, in the highest-level policy document, it was the first time to encourage cars to enter the family. Later, there was a document that realized that 70% of the year's car sales would be private purchases within 10 years.
With the explosive growth of family cars, it naturally brings a rigid demand: navigation.
2006,China's annual mileage of new and rebuilt roads is 340,000 kilometers, of which 4,460 kilometers are expressways.
China’s urban construction is too fast, and it’s not surprising that the roads change every month.
Now, everyone is familiar with the car navigation market is basically the BAT three-part world: Gaode map ( Ali ), 8span map _Tencent Maps Baidu.
But in fact, the earliest player in the Chinese car navigation market is Kay Lide.
Kay Lide was founded in 1997 and soon entered the map navigation field.
Its founder Zhang Wenxing graduated from Wuhan Span5span Surveying and Mapping University of Science and Technology. He was a professor and doctoral supervisor of Wuhan University.
With such a founder with a technical background, Kay Lide started smoothly.
Kay Rucker is the first to successfully develop a navigation engine with intellectual property rights.In 2000, the research and development of navigation maps began.
Subsequently, Kay Lide became the only domestic private enterprise with Grade A surveying and mapping qualification.
Then, Kay Rucker released the country's first "full coverage" navigation map.
It is not an exaggeration to say that Kay Lide is the originator of domestic car navigation.
It can be said that the Chinese car navigation is like a fish.
In 2006, Kay Rucker received more than US$10 million in investment from SoftBank SAIF and HSBC.
In 2013, Kay Lide occupied 71.1% of the market share in after-installed car navigation.
In 2014, Kay Rucker had a 56.6% market share in the field of car navigation in China.
At this time, the four-dimensional map and the high-tech map accounted for only 16.1% and 8.1%.
Kay Rucker is also known as the "first share of the domestic car networking industry."
Some netizens recalled that the only car used to be Kailide navigation.
At that time, how popular Kay Rucker was can be seen in the title of the article below.
There are countless software companies that pirate and impersonate Kay Rucker.
In the capital market, Kay Rucker is also highly sought after. It has successively received investments from , millet and Ping An, and the accumulated financing exceeds 300 million yuan.
Standing in the air vent, one step ahead, I thought it could soar up.
But whoever thinks, Kay Rucker made a net profit of 50 million in 2014, and became a loss of 16 million in 2015.
In 2016, the loss further exceeded 100 million.
stock price also fell from 22 yuan to 1 yuan6.
Xiaomi , Ping An, Fortune Venture Capital and many other well-known investment institutions also suffered big losses. Among them, Lei Jun Xiaomi invested 4 years with a loss of 58%.
Until June 26, 2019, Kay Rucker is completely delisted.
Mark Twain once said that sometimes reality is more absurd than fiction, because fiction is carried out under a certain logic, and reality is often illogical.
However, in reality, the defeat of Kay Lide has obvious logic to follow.
For one, Kay Lide gradually began to pay less attention to its own housekeeping skills.
Kay Lide was originally based on technology.
However, after 2005, Kay Rucker is facing more and more lawsuits, most of which are petitioners suing Kay Rucker for copyright infringement of electronic maps.
The point is that Kay Lide loses in most cases.
Among them, the most representative one is that in April 2008, in the country’s first electronic map infringement case, Kay Lide was sentenced to apologize to Changdi Wanfang for publishing in the “China Surveying and Mapping News”. , And compensate 10 million yuan for economic losses.
When a technology-based enterprise cannot withstand the test of technology, then the crisis is not far away.
seems to be the easiest and most unwilling part to give up.
The navigation is free of charge now, and there are even activities that let you use it differently. Kay Rucker navigation is charged.
Because the road network information changes rapidly,Therefore, the road network information must also be upgraded. Kay Lide upgrades four times a year.
Now, when we look back, the way Kay Lide upgrades is incredible:
br5span
br5span
br5span Kay Rucker authorized outlets.
The key is to charge!
For example, in 2014, the "Homeland Edition" cost 15 yuan per month!
At that time, the free war between navigation giants had been fought for one year.
As early as August 2013, AutoNavi announced that the original price of 50 yuan mobile APP navigation is free to use.
In less than 24 hours, Baidu immediately followed up and announced that Baidu navigation is free to use.
and Kay Lide did not start to use it for free until January 2016.
At this time, the car navigation market is already a different world:
span5 statistics show that in 2016, the statistics show It is more than 96 million times, but , Baidu and AutoNavi have reached nearly 5 billion times and 2.55 billion times respectively.
Kay Rucker's market share has been compressed to a very small part.
Zhang Wenxing recalled: "At that time, Kay and Span5span did not prepare to fight on Baidu _span. Prepare, I can only watch them fight."
In the Internet age, the boss and the second child fight, and the third child is often the one who dies.
But this time the second and third fight, they killed the boss.
This is rare.
As Zhang Wenxing said, Kay Lide focused its efforts on listing.
Third, it may be attributed to Kay Rucker's eagerness to make money at the time.
Originally, Kay Rucker could be listed on the GEM, but because of successive lawsuits, the listing hit a wall.
So we can only switch to the New Third Board, and finally listed on the New Third Board as desired.
Kay Lide has indeed been sought after. By 2015, its market value was as high as 2.553 billion yuan.
large capital has also begun to deploy.
In 2013, Baidu acquired the venue Wanfang and connected the data to the Baidu map.
In the same year, Ali made a strategic investment of US$294 million in AutoNavi, followed by a wholly-owned acquisition.
In 2014, Tencent became the second largest shareholder of NavInfo.
When a crisis is discovered, it means that half of the foot has entered the abyss.
Map Class A mapping qualification of suppliers is no longer so scarce after
Baidu high moral war, Kay Rucker Has been completely marginalized.
But that's it, Kay Rucker still did not wake up.
has suffered huge losses year after year and customers have lost a lot.
In July 2016, Shandong enterprise Xingmin Zhitong was willing to acquire Kay Lide at a price of 1.6 billion.
Kay Rucker’s revenue in 2015 fell 8% year-on-year, with a loss of 15 million.1.6 billion is already a pretty good price.
However, Kay Lide took a high look at himself and was unwilling to "sell himself."
However, the situation is getting worse and worse. In 2016, the staff turnover was as high as 35%, and the technical staff was reduced by nearly 40%.
On January 13-17, 2017, Kay Rucker's stock price plummeted 44.79%, and its total market value also shrank to more than 400 million.
Kay Lide still has a ray of life:
was given back by Ningbo Span for a valuation of 650 million yuan in 2018. The general meeting of shareholders rejected.
The last chance was also abandoned.
After less than half a year, when we talk about the acquisition, Kay Rucker's "price" has been slashed again.
At that time,Some investors said, why choose Kay Rucker for pure financial investment, and what waves can this company make?
Once, Kay Rucker had 15 million users, but now, Kay Rucker has more than 1,000 fans on the upgraded official Weibo account.
Kaylide, who is proud and ignorant of current affairs, walks into the abyss like this.
What do you think about the decline of Kay Lide? Welcome to chat in the message area.
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