Yu Gang: E-business trendsetter
Yu Gang, original co-founder of China’s first online supermarket Yihaodian.com and executive chairman and co-founder of New Peak Group, has been selected as a member of Pudong’s “Hundred Talents Plan”, Shanghai’s “Thousand Talents Plan” and the national “Thousand Talents Program”.
Smart and hardworking, Yu obtained a doctorate from the Wharton School of the University of Pennsylvania in 1990. He went on to teach at the Management School of the University of Texas at Austin, and was later offered a lifetime professorship. In 2002, Yu was awarded the Franz Edelman Prize by the International Association of INFORMS.
Yu began his entrepreneurial career in the United States. The aviation management system utilized by the Caleb Technologies Corporation and since adopted by most major U.S. Airlines was launched by Yu. He has also worked as a senior executive for Dell and Amazon.
In 2008, Yu returned to China and co-founded Yihaodian, which became a leading Chinese e-retailer, reaching annual sales of 20 billion yuan ($2.89 billion) within seven years of development.
While e-commerce encompasses many fields, the medical field is difficult to reach due to policy restrictions. “Entrepreneurship is not all plain sailing,” says Yu. “Entrepreneurial passion can stimulate creativity, make the impossible possible and make a person fearlessly enjoy the process.”
Yu founded New Peak Group in 2010 to provide a complete online medical solution benefitting Chinese patients. The company applied internet and IT technologies to offer users online diagnosis and drug purchases.
Within six years, “Yiyaowang” (111.com.cn), one of the main e-commerce platforms launched by New Peak Group, has become one of the largest online domestic drug-selling platforms. With more than 11 million registered users, 80 percent from mobile terminals, annual medicine sales were more than three times that of the platform’s nearest competitor in 2015.
Yu, with innovative thinking, solved the problem of poor access and high fees for medical treatment for Chinese people. He has always believed that the one who stands higher can see farther, and is devoted to creating larger societal values.