Early Life and Career Beginnings
Cai Wensheng's entrepreneurial journey began after he dropped out of high school. He started his first business venture, registering hundreds of thousands of domain names, a move that showcased his early understanding of the internet's potential. This foundation led him to establish 265.com, a web navigation site that he later sold to Google China. This initial success was a catalyst for his transition into angel investing.
Rise to Success with Meitu
In 2008, Cai Wensheng founded Meitu, a photo-editing app that quickly gained popularity. The app's focus on enhancing selfies and beauty features resonated with a wide audience, particularly in China and other Asian markets. Meitu's user base grew rapidly, transforming it into a significant player in the mobile app industry. Cai served as Chairman of Meitu from July 2013 to June 2023. Under his leadership, Meitu expanded into smartphones and related products, solidifying its market position.
Key Business Strategies and Investments
Cai Wensheng's success extends beyond Meitu. He is a prolific angel investor, with investments in numerous startups. Cai's investment strategy focused on identifying promising ventures in the early stages, providing not only capital but also strategic guidance. His investments in 58.com and Baofeng Yingyin yielded significant returns, further establishing his reputation as a shrewd investor. In 2023, Mike Cai Wensheng resigned as Meitu Chairman to focus on other business commitments.
Philanthropy
While specific details on Cai Wensheng's philanthropy are not readily available, his focus on innovation and technology suggests a potential interest in supporting educational initiatives or technological advancements. Cai's recent purchase of property to be converted into a crypto and AI start-up hub indicates a continued interest in technological advancement.