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Please do not change the meaning of yellow highlight sentences. Please based on the sentences of yellow highlight to advise my essay. b.docx Unformatted Attachment Preview Huateng Ma Entrepreneur Biography By: Yikun Shen Student Number: 6337257 Course Number: ENTR 2P91 Submitted to: Dr. Agostino Menna Submitted: 2020.5.20 Background Huangpeng Ma, also called Pony Ma, is a Chinese business magnate, investor, politician, and philanthropist. Huateng Ma, was born in Chaonan district, Shantou city, Guangdong Province on October 29, 1971, in Batsuo port, Dongfang county, Guangdong Province (now Dongfang city, Hainan Province). He received his bachelor of computer science degree from Shenzhen University in 1993. One of the main founders of Tencent, and he is the chairman and CEO of Tencent. Vice-chairman of all-China youth federation; Deputies to the National Peoples Congress. In 1984, He moved to Shenzhen city with his parents from Hainan. He graduated from the department of computer science of Shenzhen University in 1993. In the same year, I entered Shenzhen Runxun Communication co., ltd. and began the research and development of paging system. In 1995, he established Huiduo Net Shenzhen Station and named pony soft. In 1998, Huateng Ma and his classmate from university Zhidong Zhang registered and established Shenzhen Tencent technology co., LTD. Then Yidan Chen, Chenye Xu, and Liqing Zeng joined the company and became partners of Tencent. Now Tencent technology co., LTD. is the largest Internet company in China. Tencents business has expanded into social, entertainment, finance, information, tools and platforms. At present, Tencent has QQ and WeChat, the social software with the largest number of users in China, as well as Tencent games, the largest online game community. In the field of e-books, it owns the reading text group, which operates QQ reading and WeChat reading. QQ Huateng Ma has two personal characteristics of the entrepreneur to make him start his business, and the characteristics are prior industry experience and social networks. Thirteen years ago, Huateng Ma, five years after graduating from college, was a software engineer at a company in Shenzhen called Runxun. After work, his biggest hobby is surfing the Internet, from which he made a lot of friends, including Neteases ding lei. Netease is also one of the most popular network platforms in Chinas Internet era. The experience and social inspiration helped him grow his Tencent company. There are three primary reasons that people become entrepreneurs and start their own firms is desiring to pursue their own ideas, desiring to be their own boss, and Financial rewards. Tencents initial business is to do some pager system integration, a few partners and salesman, do engineers, very busy. An accidental opportunity, Huateng Ma saw the ICQ demo based on Windows system, ICQ was popular in the world, but there is no Chinese version. From there, Mr. Ma began to have an idea about whether to launch an ICQ-like software in China that combines pagers, chat and email. With such a simple idea in mind, ma and his colleagues began to mimic the functions and features of ICQ and developed a Chinese pager, or OICQ, with a Chinese instant messaging interface. At the beginning of 1999, with a try mentality, he put OICQ on the Internet and changed it from the original directional donation to a free download method, which was required by students at once. Free download of OICQ was popular in the university campus at that time. In less than a year, the muchvaunted software has gained five million users. As the number of users increases, it also means expanding the Network server. At that time, two thousand Yuan server hosting fees, let the small workshop Tencent company overwhelmed. In October 1999, a year after the company started operation, Tencent began to finance formally. At that time, a business financing, either have the core technology, or have a good project. But for Tencent, the only advantage of financing is users. At the time, OICQ had millions of users but no revenue. Venture capital people asked Huateng Ma, what is your core value? The Israeli ICQ sold for tens of millions of dollars. How many users does it have? We have more users now than they do, so were worth it. With that, Tencent was lucky enough to secure a $2.2m investment from IDG and Richard lis Pacific century cyberworks. According to a former Tencent employee, Huateng Ma had two lumbar spine surgeries during the fundraising process. After the second operation, he was flat on his back, working on his laptop. Since then, Tencent and its OICQ has grown rapidly in China, and Tencents OICQ also changed its name to QQ because of infringement of ICQ. Ma has built his own Internet empire and made him be one of Chinas top three richest people and one of Forbes richest people. Tencent Based on the success of QQ, Huateng Ma plans to 10x faster expand his Tencent company. The 10x rule means that in order to gain market traction a product must be exponentially better. Today, QQ has 500 million registered users. Based on this group of peoples community is more vibrant, in Huateng Mas plan, QQ community will cover communication, entertainment, media, business four platforms, in a word, netizens can have what they want. Tencent takes connecting everything as its strategic goal, providing two core services, social platform and digital content. Hundreds of millions of QQ users are Tencents biggest capital, through the Matthew effect of QQ, many of Tencents businesses as long as tied to QQ to get a great opportunity to grow, Huateng Ma is good at turning this advantage into a winning position. The development of Tencent has profoundly affected and changed the way of communication and living habits of hundreds of millions of Internet users, and created a broader application prospect for Chinas Internet industry. Facing the future, adhering to independent innovation and building a national brand is Tencents longterm development plan. More than 50\% of Tencents employees are research and development personnel, with a sound independent research and development system. Tencent owns a considerable number of patents in storage technology, data mining, multimedia, Chinese processing, distributed network and wireless technology, and ranks among the top among global Internet enterprises in terms of patent application and total authorization. There are three ways to identify an opportunity--- observing trends, solving a problem, and finding gaps in the marketplace. In the past 11 years, Huateng Ma has never stopped copying and innovating, so much so that in every product of Tencent, we can find similarities between domestic and foreign famous Internet products. As a software engineer, ma understood that the purpose of developing software is practical, not just innovative. He is a person who loves network life very much. He knows what netizens need most, and then develops his own software to solve problems according to the demand trend, and actively absorbs the advantages of advanced software. Learn from Huateng Ma From Huateng Mas experience, I can learn that becoming an entrepreneur requires seizing opportunities. Because an opportunity is a favorable set of circumstances that creates a need for a new product, service, or business. Ma was seeing that China didnt have enough Internet software at the time, and he seized the opportunity and built his own Internet empire. When Huateng Ma was developing his company, he knew what was missing from his plan to integrate resources to achieve his goals. Entrepreneurs assemble and then integrate all the resources needed- the money, the people, the business model, the strategy-to transform an invention or an idea into a viable business. As a software engineer, he knew he had the ability to develop software, but what he lacked was the capital to run the company. I also can learn that personal characteristics of the entrepreneur from him is prior industry experience and social networks. While he was trying to improve his major, he did not forget to socialize. He got more inspiration by socializing with the same fields. I think he is a successful entrepreneur, because he has passion for business, product/customer focus, execution intelligence, and tenacity despite failure. These spirits are helpful to my future work. ... Purchase answer to see full attachment