How QCC (Quickly Check Companies) CEO Zong Peng grew QCC (Quickly Check Companies) to $62.4M revenue and 1M customers in 2024.

qcc.com think of it like the Zoom info of China launched in 2014 Zhong was part of the four-person founding team he joined in 2016 when the company is doing three million bucks a year in Revenue the company at 60 million in 2020 80 million 2021 100 million in 2022 Zhong said I want to grow this thing fast the other Founder's like man we really like our 20 million dollars of profits last year there's a bit of a difference he left he's now deciding when his next move is going to be we will see what he does hey folks my guest today is zong Pang after 14 years in the U.S he moved to China in 2017. he's early he's an early investor and former CEO of qcc.com the leading director user B2B data intelligence tool in China with 100 million plus registered users and 80 million AR in 2021 he loves SAS artificial intelligence machine learning and data-driven businesses he's not he's also solo motorbiked across Vietnam in 28 days in a Columbia alums Andre he takes to the top thank you very much for the introduction let's begin you bet so just to be clear were you also are you the founder of qcc I know you it sounds like you left last year but were you the founder um well I joined the pre-a yeah and I was an early investor I know the founder very well and um strictly not a Founder but very very early stage so what year did you join the company and what year was the company launched uh complementary was in 2014 and I joined in 2016. okay 2014 got it and and walk me through that relationship so you were an angel investor in 2014 or 2015 and then the founder brought you in as CEO well I was in the US back then and then uh we found this company and um [Music] what could happen and early investor but we got in the on the pre-a-ron okay got it so you you came in before the series a round as an investor yes so I what what was the round size in 2014 or 2015 that the founder raised uh uh five million dollars and you are part of the five million yes okay so how does somebody go from part of a pre-series a series a round of five million you know an investor to becoming the CEO what happened there I I was uh when I was uh at SMP Capital IQ and uh I had always been a very few student of the market of um the data company right and I had a lot of friends in the in in China that um back when I was in Colombia and the story when some days a person called me hey would you like would you like to be the CEO of this company would like to look at this company and and qcc was one it was a company that that came onto our screen and um I look at it it's and the business model is very much similar like cap IQ or Zoom info or so where you at where are you at cap IQ oh is that a comeback kid uh were you a founder or leadership team or what was your role there no I was not a founder of leadership team I enjoyed very much very much later yep yep okay so you're on the leadership team at cap IQ you were also an early investor at qcc you joined qcc full time in 2016. now how much revenue was the company doing when you joined do you remember three million dollars it was a baby it was very or very much of a baby okay so three million in 2016 and just we skipped over sort of the product you've mentioned zoom in vocab by Cuba tell us real quick what are customers paying you for today is it still sort of data intelligence very much data intelligence okay so we can think of it like the Zoom info of Asia is that fair it is fair but zooming for you know it they they do Enterprise sales they have have a lot of a lot of Enterprise sales teams that push the product but our product is pushed to customers directly via app stores and um be a lot direct channels okay so your Bottoms Up you're saying your Bottoms Up individual employees are paying for you versus top down you're not selling to the cro hn we're an iPhone to see our own well we we at the beginning we were selling to the cro and the cios um but that was not sustainable because in China um if you do a top-down approach the sell cycle is very very long yeah it takes months and luckily in in the U.S it takes a lot it takes months or half a year to get the sale done yep our plan I was pushed to through the app stores fof Store Android App Store directly to the consumers they all they have to pay is 260 RMB not dollars you could divide that that's very very cheap um what is that I need to do the conversion real quick hold on 52. 52 a year 52 yeah oh what's going on there YouTube good to see you guys now imagine this you love watching these interviews with SAS Founders but imagine if we took all of the valuation data out from over 2807 interviews I've done manually saves you a lot of time well we've done this we've built the into the beautiful interface inside of founder path check this out I'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for evaluation this 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platform I hope to see you there all right let's jump back into the interview and so if if you're a consumer in China and you open up the Apple App Store or the Android App Store and you find qcc what's the headline right what does it say what's going to make me want to download it uh checkup companies look up you know your bosses or I see check out your employers um that's the the cash yep so if you if you haven't got hired you want to go look for a self-lead you're good you want um that's the kind of catch yeah so how many downloads do all the apps have today combined across Apple Android and other app stores um the last time I checked is three billion three billion with a B yes billion or million you have three billion app downloads across all the app stores uh well there's duplicated right but overall there's millions of there's a lot of repetitive downloads but overall there's more than 300 million people who have downloaded the app Not Duplicate 300 million unique downloads of the application and then how do you measure how many of those 300 million are active in the last 30 days well um we mattered the UN Mau right yep uh anybody who has opened up the app in the past week or the past months that's Mau but data user that's very standard metrics yep so what is your what is your Mau past 30 days affected me six zero million 50 million oh five zero five zero five zero million okay that's I mean what is that that's uh that's almost 20 it's almost 20 right 20 20 of your total download they're active every month that's pretty good how do you drive that kind of activation rate oh they actually rate the vision right it's uh that has to go back to the history if you know if you know zoom zoom in for Capital IQ or other B2B companies like the one that you founded right it's very much B2B you had to drive um through sales channels to um basically sell people but with China is very different because on back in 2016 um when our accounting was founded um Apple was the only Channel where you could Market it but in 26 17 and 2018 [Music] um Android uh fluctuated because a lot of...