Lei Jun revealed that it was difficult to pay wages with only a few hundred thousand yuan in the account at the worst time of entrepreneurship.

　　On the evening of August 11, Lei Jun, chairman of Xiaomi, delivered a speech on the 2022 annual report.

When he told his personal entrepreneurial story, he said that in 1996, Jinshan fell into a critical juncture of life and death. At the age of 26, he was the general manager of Beijing Jinshan. It was the first time he faced such a situation.

He said that at the worst time of starting a business, there were only a few hundred thousand yuan in the account, and it was very difficult to even pay wages.

He was often insomniac and could not sleep night after night.

　　At the annual speech, Lei Jun said that after the rise of the Internet in 1997, he offered Ding Lei 10 million to acquire NetEase, but Ding Lei refused.

Two months later, Ding Lei told him that NetEase had successfully raised US$10 million, and the company was valued at more than US$60 million. According to the exchange rate at the time, the valuation of the company exceeded 500 million yuan.

(Wang Dongyu Produced by Wu Rui)

Responsible editor: [Li Ji]