Zhang is the founder and CEO of Balanx, a manufacturer of electrode workout suits that help burn calories, which ships to mainly Europe and North America.
“They want the company to reach revenue of RMB 100 million (around $15 million) and complete another financing round in the near future, which was not my plan,” he said. “Manufacturing is not like the internet industry, where you can create a giant by simply burning cash.”
Zhang’s idea of tech success isn’t Google or Alibaba. During the interview, he expressed his admiration for some of his fellow Shenzhen-based founders who have never raised VC money. He mentioned as an example a company owned by an acquaintance, a dashcam manufacturer with around 40 employees and around RMB 700 million in annual revenue.
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.
Monthly Membership
Yearly Membership
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.