Sun Shuo @UFLY_Capital, born in 1980
1999-2003 South China University of Technology Department of Civil Engineering Bachelor's
2003-2004 South China University of Technology Business Administration
2009-2011 Stanford MBA
2004.1—2006.7, Procter & Gamble China Marketing Department;
2006.7—2009.6, Shell Digital Marketing
2009-2011, Stanford MBA;
After graduating from Stanford in 11 years, joined CICC Hong Kong to work in investment and mergers;
In 2015, Head of Retail Business and South China Business for Asia Miles. Asia Miles is an airline mileage program where users can accumulate points and redeem them for tickets, etc.
In the second half of 2017, began operations of Xiangwushuo.
The attached picture shows the founding team of Xiangwushuo: from left to right, co-founders Peng Gang, Wu Jianguo, Li Ying, Sun Shuo.
Peng Gang, graduated from Fudan University and Harvard University with a major in economics.
She previously worked at a points company, providing a complete logic and supporting services for large companies regarding points. Utilizing points to activate the #Xiangwushuo platform has a significant connection to what she learned in economics.
Li Ying: After graduating from the MBA program at Columbia Business School, she worked at Boston Consulting Group in Hong Kong for five years, and then managed post-investment operations at a private equity fund. In the summer of 2017, Li Ying was responsible for corporate strategy at Starbucks China.
In September 2017, Sun Shuo and his team received nearly 10 million yuan in angel investment from Xianfeng Changqing, ZhenFund, Yihang Highway, and the founder and CEO of Liepin.com, Dai Keben.
In November of that year, the Shanghai Xiangwushuo Network Technology Co., Ltd. was registered in Shanghai, with its registered address at 33 Guangshun Road, Building 8, Room 5107, Changning District.
Among them, Sun Shuo holds 60.95%, Peng Gang holds 17.55%, and Wu Jianguo holds 6.5%.
Sun Shuo's specific definition of #Xiangwushuo is as follows: Xiangwushuo mainly consists of WeChat public accounts + mini-programs, and is a comprehensive, points-based platform for exchanging idle items. Users can earn 'little red flowers' through sign-ins, sharing, and trading items, using 'little red flowers' instead of money, which offers users a new trading experience compared to traditional trading platforms — it feels less like a buyer and seller, and more like giving and receiving gifts on the platform.
Xiangwushuo's data growth is based on the WeChat ecosystem:
In December 2017, there were 100,000 users.
In mid-January 2018, there were 200,000 users.
In February 2018, there were 2 million users.
In May 2018, the number of mini-program users exceeded 6 million.
In June 2018, the number of mini-program users exceeded 10 million, and the app went online.
By the end of August 2018, the number of mini-program users exceeded 20 million, with daily active users exceeding 2 million.
With such data growth, Sun Shuo and Xiangwushuo completed Series B+ funding in August 2018, raising 65 million USD, led by Sequoia Capital, with participation from Hillhouse Capital, IDG Capital, Jingwei China, GGV Capital, Xianfeng Changqing, ZhenFund, and Yihang Highway Capital.
According to public data, from November 2017 to February 2019, Xiangwushuo completed five rounds of financing, raising a total of over 110 million USD.
After four years of entrepreneurship with the Xiangwushuo team, as of the end of 2022, the official website of Xiangwushuo is unusable, and all app functions have been removed.
In early 2024, another community shopping platform, 'You Good Things', suddenly closed and liquidated during the Spring Festival.
The sudden bankruptcy of the platform 'You Good Things' in early 2024 feels eerily similar to the previously popular community group buying platform Shihuituan and Xiangwushuo.
After the equity penetration of 'You Good Things':
Shanghai Xiangwushuo Network Technology, I Love Small Town Information Technology, and Beijing You Good Things Technology, these three companies have the same ultimate controllers, who are Sun Shuo, the founder of UXLINK.
This means that Sun Shuo used the same strategy to harvest investors and the market twice through #Xiangwushuo and You Good Things.
Sun Shuo, a serial entrepreneur who changed fields to the cryptocurrency space to continue harvesting.
@UFLY_Labs @UXLINKofficial @UFLY_Capital
@wiseadvicesumit @ccy1871
@yyds123888 @museowunsaram
@WWTLitee @Official_Upbit
@ausbro80 @SOU_BTC
@Bounty_ATM @BlockChain_CK @COmang___ @GMB_Coinangel @bongbongcrypto @SSsarisari @iinging747 @Edward__Park @jerrykoreaweb3 @Jerryalphanft @DOKDODAO
#uxlink #SunShuo
