STORY OF MIKE CAI
Cai Wensheng, angel investor and chairman of the well-known company, Meitu, is an individual who has left an indelible mark on the tech industry. His background is quite unique, given that he, akin to Meitu's CEO Wu Xinhong, hails from Fujian province and neither of them attended university. They are amongst the earliest Chinese entrepreneurs who developed their businesses through domain name trading.
Years after founding 265.com in May 2003, a site that was later acquired by Google in 2007, Cai Wensheng ventured into a series of website investments. Simultaneously, Wu Xinhong made a name for himself by launching his own product, 'Mars Text', famed among post-90s generation, and followed this venture with the formation of the Meitu family of products.
Known for his excellent execution ability, Cai Wensheng's angel investments are famed for their quick deal-making. He invested in over 70 companies, including Meitu, making a significant profit from investments just in the hundreds of thousands. Such significant returns from these investments solidified his reputation as a successful angel investor.
In fact, his most prosperous venture to date has been with Meitu, a company he co-founded with Wu Xinhong in 2008. Eight years later, the company had reached over 1 billion mobile devices. His leadership position as Chairman at Meitu's parent company, Meitu Xiuxiu, marks it as the first angel investment project he is personally leading.
Cai Wensheng's entrepreneurial journey hasn't been confined to Meitu and internet-related ventures. Recently, the advent of Bitcoin has once again placed him in the spotlight. Meitu's recent announcement about purchasing 15,000 units of Ethereum publicly has stirred up much discourse in the industry.
In a heartfelt open letter following Meitu's listing in Hong Kong in December 2021, Cai Wensheng thanked his business partners for their trust. The company's listing marked a significant moment, it being the largest IPO on the Hong Kong Exchange since the launch of the Shenzhen-Hong Kong Stock Connect, and Meitu being the largest internet company listed after Tencent.
Meitu's success story, backed by Cai Wensheng's influential role, is a testament to the potentials of angel investing in tech start-ups, a tale of strategy, risks, and triumphant outcomes.