waved his hand to let Zhao Liying follow Hu Tingting away, but Shen Fei was not idle here.
He received a call from Li Chunfeng.
"Liu Qiangdong is crazy. "
The first sentence Li Chunfeng said made Shen Fei stunned.
"What's wrong?"
Shen Fei asked a little strangely.
"Here's the thing..."
As Li Chunfeng spoke, he told the whole story of the matter.
It turned out that after getting Shen Fei's investment last year,
As soon as the money arrived, Liu Qiangdong announced two decisions: JD.com expanded its products to all categories, turned into a one-stop consumer platform, and decided to build its own logistics system integrating warehousing and distribution.
In fact, when the people in the company heard these two decisions from Liu Qiangdong's mouth, they almost couldn't laugh or cry.
Because whether it is the expansion of the whole category or the self-built warehouse and distribution logistics, in their eyes, it is a trick to burn money.
All categories of products will increase logistics and operating costs, not to mention warehousing logistics.
A lesson from the past on the other side of the ocean, a fresh e-commerce company in the United States burned a full 1.2 billion US dollars because of its self-built warehouse, which scared the fresh e-commerce of the United States to stagnate for 20 years.
The first decision to expand the category, everyone is against it, and nearly half of the management of JD.com has questioned it, the reason is very simple, even Amazon has not been able to sell large household appliances online, let alone domestic.
When the second decision to build self-built warehousing and logistics was proposed, Li Chunfeng euphemistically asked Liu Qiangdong to make a budget first.
And then his budget was: a billion dollars are needed!
According to Li Chunfeng's calculations, investing in the logistics of warehousing and distribution, a city needs to send 2,000 orders a day to break even.
It takes a long time to achieve 2,000 orders, it may be nine months, or it may be two years.
One billion dollars and two years, as soon as these two figures came out, Li Chunfeng was about to cry at that time.
But Liu Qiangdong said very firmly: "Profits can't be packed in money bags, there is a larger territory to be explored, and the harvested funds or resources should be scattered like seeds." "
He held an overwhelming stake in JD.com, and in the face of overwhelming opposition from the overwhelming majority, he used the $10 million he had just raised to push for these two measures: preparing to build a Guangzhou branch, buying a warehouse, and expanding channels, and gradually increasing the variety of products from 3,000 to 18,000.
But the problem is that the speed of burning money is too fast, and now that the financial crisis has come, his tens of millions of dollars have only been burned for a few months before they are used up.
"He still wants to raise money, what should he do?"
Li Chunfeng asked Shen Fei.
Shen Fei's brows furrowed, and he recalled what happened to Liu Qiangdong and Jingdong this year in his memory.
In most people's memories of '08, in addition to the financial crisis and the Olympics, there was also the heavy snowfall at the beginning of the year.
It was this snow that crushed the warehouse of Jingdong Shenghai.
At that time, Xu Xin, who was in charge of today's capital, pulled Liu Qiangdong, who was in urgent need of financing, and introduced investors to him everywhere, but the objective economic environment was too bad.
Wall Street is dead, and fear is spreading throughout the venture capital world.
Several investors who had a good talk with JD.com avoided it in the blink of an eye after hearing that Lehman Brothers in the United States had gone bankrupt.
JD.com's valuation plummeted, and the price dropped from $200 million to $150 million, $120 million, $100 million, $80 million, $65 million, $45 million... In the end, it was reduced to $30 million. Xu Xin called Liu Qiangdong and said that although the price was not good, JD.com had to ask for the money.
Liu Qiangdong directly refused!
That period of time can be said to be his most tormenting days: investors are unwilling to pay, logistics is still losing money, funds are not in place, and it is very difficult for Jingdong to survive the Spring Festival.
Once, Wang Xiaosong, the vice president of JD.com, took the payment slip to the finance because the supplier said that JD.com would not give the goods if it did not pay.
Finance is also helpless: "I have to pay employees tomorrow, and after the money is paid, the wages will not be paid." "
Overnight, Liu Qiangdong's hair turned gray.
As a last resort, Liu Qiangdong applied for a bridge loan from Today's Capital, with an annual interest rate of 20%.
Time is money, Liu Qiangdong began to desperately meet investment institutions, sometimes two or three a day, sometimes five or six a day, visited more than 40 companies, and still no one took a fancy to JD.com.
Every investor asked him: "How does JD.com make money? What are the advantages of your model compared with Taobao? What are the advantages of cost compared with Gome and Suning?"
It is also mixed with criticism that the gross profit margin is too low and the operational efficiency is too poor.
Today's capital has made four or five bridge loans to JD.com, and the end of the year is the repayment date.
When Liu Qiangdong faces employees, he always says enthusiastically: "Money is coming soon!"
But in a place where everyone can't see, he hides in a coffee shop alone to relieve stress because he is afraid that the employees will lose confidence after knowing the truth.
"From the beginning of the business in 98 to the present, Jingdong has had two or three hundred brothers, many of whom have followed me for almost ten years, and others can't dig them away. Ten years later, they may leave with nothing, not even a house or a car. And when he goes out to look for a job again, others will say that he is from the bankrupt Jingdong Mall, and it is difficult to find a job. It's easy for an employee of a successful company to leave and find a new job, but as an employee of a failed or bankrupt company, it's hard to find a job because it's a loser. My pain is really indescribable, my bones are full of fear, and that kind of guilt and shame for my brothers. "
When Liu Qiangdong said this, he had already become famous.
But even so, every time he recalls this, he is still sad.
At that time, Foxconn, which was in full swing, announced that it was going to enter e-commerce, and also talked about financing with JD.com, with a very arrogant attitude and harsh conditions: if you want to hold it at a very low price, you must agree to Liu Qiangdong, otherwise you will use 500 million US dollars to kill JD.com.
Liu Qiangdong refused again and fought back strongly: "We are barefoot and not afraid to wear shoes, and cooperating with me is the last chance in your life to enter the retail industry." "
Seeing that the day of repaying today's capital bridge loan is getting closer and closer, JD.com still has not found an investor.
That year, when Today Capital held its annual meeting, it did not forget to call Liu Qiangdong.
When Liu Qiangdong introduced himself and JD.com on stage at the annual meeting, good fortune finally came to him, and a well-known banker from Hong Kong Island noticed him.
This person is Xu Xin's former boss, Liang Botao, the founder of Peregrine Investment and the super-rich man on Hong Kong Island.
It is because of him that JD.com finally completed the second round of financing of 21 million US dollars, of which Bull Capital led the investment of 12 million US dollars, Today Capital followed the investment of 8 million US dollars, and Liang Botao invested 1 million US dollars in his personal name.
This money was still used by Liu Qiangdong in an orderly manner in Jingdong's logistics platform, service technology and other aspects.
I have to say that with this money, Jingdong finally ushered in a respite, from 08 to 12 years, JD.com's sales increased from 1.3 billion to 60 billion!
There are more types than Dangdang and more genuine products than Taobao, which are the two decisions that Liu Qiangdong made at the beginning, which made Jingdong fight a bloody way.
Beautiful report cards have also attracted investment: Tiger Fund, Hillhouse Capital, Sequoia Capital, Penguin...
Recalling this, Shen Fei's face changed instantly.
"What do you think?"
Shen Fei asked Li Chunfeng. (If you read a violent novel, go to Feilu Novel Network!)
"'Well, isn't it too much money to burn?"
Li Chunfeng said with a wry smile: "I see that Jingdong is like this now, it has been losing money, and it is not a way to lose money like this." "
It's the truth.
As an investor, what Wanli Investment needs to see is the rate of return, under the premise of today's financial crisis, Jingdong's situation, even wants to finance and burn money, Li Chunfeng is more or less worried in his heart.
"Then cool him down first!"
Shen Fei thought for a while and said slowly: "But it's not that we won't vote, but we have to wait for him to be desperate before making a move." "
Although the development of JD.com in later generations is not as good as Alibaba, in the field of e-commerce, it is definitely one of the top three enterprises in China.
In this case, Shen Fei naturally would not miss the opportunity.
However, he knows very well that Liu Qiangdong is full of confidence now, and it is the time when he is triumphant, and he needs to give him a little setback.
At the very least, let him know that this money did not come easily.
Also raised 200 million!
He thought JD was face?
Picking wool on his head is really a fool's dream.
"Okay. "
Li Chunfeng nodded.
He naturally understood what Shen Fei meant, which was nothing more than letting Liu Qiangdong accept the beating of society.
But the problem is that Li Chunfeng still doesn't quite understand why Shen Fei has to invest in this JD.com.
Could it be that he is very optimistic about the future development of JD.com?
"When investing, be patient. "
Shen Fei smiled (Li De's) and said lightly: "What we do is not financial products, not buying stocks and futures, sometimes if you are not patient, it is easy to miss the opportunity." "
It's the truth.
Investing is not the same as doing finance.
Buying stocks and futures, sometimes you need not only courage, but also luck, see the right time to go ahead, and then make money and leave.
But when it comes to investing, you can't be so impulsive.
If you are optimistic about a project and invest in it, it is likely that you will not get a return for three or five years.
But if it succeeds, the benefits will be unimaginable.
In fact, Li Chunfeng himself knows this.
The key problem is that he really can't see hope in the current development situation of JD.com.
That is, Shen Fei insisted, otherwise Li Chunfeng would not have invested in JD.com.
Putting down the phone, Shen Fei shook his head helplessly.
He didn't understand Li Chunfeng's worries, but the problem was that no one would know what Jingdong would develop into in the future, and no one would know what Huaguo's economy would become with the introduction of the four trillion plan.
PS: It's on the shelves, ask for automatic subscription, ask for flowers, ask for monthly passes, ask for evaluation votes, ask for rewards, ask for various data support! I've worked really hard to write this book, and I hope you can support it more.
Người mua: ミ★๖ۣۜHεη๖ۣۜTαĭ★彡
He received a call from Li Chunfeng.
"Liu Qiangdong is crazy. "
The first sentence Li Chunfeng said made Shen Fei stunned.
"What's wrong?"
Shen Fei asked a little strangely.
"Here's the thing..."
As Li Chunfeng spoke, he told the whole story of the matter.
It turned out that after getting Shen Fei's investment last year,
As soon as the money arrived, Liu Qiangdong announced two decisions: JD.com expanded its products to all categories, turned into a one-stop consumer platform, and decided to build its own logistics system integrating warehousing and distribution.
In fact, when the people in the company heard these two decisions from Liu Qiangdong's mouth, they almost couldn't laugh or cry.
Because whether it is the expansion of the whole category or the self-built warehouse and distribution logistics, in their eyes, it is a trick to burn money.
All categories of products will increase logistics and operating costs, not to mention warehousing logistics.
A lesson from the past on the other side of the ocean, a fresh e-commerce company in the United States burned a full 1.2 billion US dollars because of its self-built warehouse, which scared the fresh e-commerce of the United States to stagnate for 20 years.
The first decision to expand the category, everyone is against it, and nearly half of the management of JD.com has questioned it, the reason is very simple, even Amazon has not been able to sell large household appliances online, let alone domestic.
When the second decision to build self-built warehousing and logistics was proposed, Li Chunfeng euphemistically asked Liu Qiangdong to make a budget first.
And then his budget was: a billion dollars are needed!
According to Li Chunfeng's calculations, investing in the logistics of warehousing and distribution, a city needs to send 2,000 orders a day to break even.
It takes a long time to achieve 2,000 orders, it may be nine months, or it may be two years.
One billion dollars and two years, as soon as these two figures came out, Li Chunfeng was about to cry at that time.
But Liu Qiangdong said very firmly: "Profits can't be packed in money bags, there is a larger territory to be explored, and the harvested funds or resources should be scattered like seeds." "
He held an overwhelming stake in JD.com, and in the face of overwhelming opposition from the overwhelming majority, he used the $10 million he had just raised to push for these two measures: preparing to build a Guangzhou branch, buying a warehouse, and expanding channels, and gradually increasing the variety of products from 3,000 to 18,000.
But the problem is that the speed of burning money is too fast, and now that the financial crisis has come, his tens of millions of dollars have only been burned for a few months before they are used up.
"He still wants to raise money, what should he do?"
Li Chunfeng asked Shen Fei.
Shen Fei's brows furrowed, and he recalled what happened to Liu Qiangdong and Jingdong this year in his memory.
In most people's memories of '08, in addition to the financial crisis and the Olympics, there was also the heavy snowfall at the beginning of the year.
It was this snow that crushed the warehouse of Jingdong Shenghai.
At that time, Xu Xin, who was in charge of today's capital, pulled Liu Qiangdong, who was in urgent need of financing, and introduced investors to him everywhere, but the objective economic environment was too bad.
Wall Street is dead, and fear is spreading throughout the venture capital world.
Several investors who had a good talk with JD.com avoided it in the blink of an eye after hearing that Lehman Brothers in the United States had gone bankrupt.
JD.com's valuation plummeted, and the price dropped from $200 million to $150 million, $120 million, $100 million, $80 million, $65 million, $45 million... In the end, it was reduced to $30 million. Xu Xin called Liu Qiangdong and said that although the price was not good, JD.com had to ask for the money.
Liu Qiangdong directly refused!
That period of time can be said to be his most tormenting days: investors are unwilling to pay, logistics is still losing money, funds are not in place, and it is very difficult for Jingdong to survive the Spring Festival.
Once, Wang Xiaosong, the vice president of JD.com, took the payment slip to the finance because the supplier said that JD.com would not give the goods if it did not pay.
Finance is also helpless: "I have to pay employees tomorrow, and after the money is paid, the wages will not be paid." "
Overnight, Liu Qiangdong's hair turned gray.
As a last resort, Liu Qiangdong applied for a bridge loan from Today's Capital, with an annual interest rate of 20%.
Time is money, Liu Qiangdong began to desperately meet investment institutions, sometimes two or three a day, sometimes five or six a day, visited more than 40 companies, and still no one took a fancy to JD.com.
Every investor asked him: "How does JD.com make money? What are the advantages of your model compared with Taobao? What are the advantages of cost compared with Gome and Suning?"
It is also mixed with criticism that the gross profit margin is too low and the operational efficiency is too poor.
Today's capital has made four or five bridge loans to JD.com, and the end of the year is the repayment date.
When Liu Qiangdong faces employees, he always says enthusiastically: "Money is coming soon!"
But in a place where everyone can't see, he hides in a coffee shop alone to relieve stress because he is afraid that the employees will lose confidence after knowing the truth.
"From the beginning of the business in 98 to the present, Jingdong has had two or three hundred brothers, many of whom have followed me for almost ten years, and others can't dig them away. Ten years later, they may leave with nothing, not even a house or a car. And when he goes out to look for a job again, others will say that he is from the bankrupt Jingdong Mall, and it is difficult to find a job. It's easy for an employee of a successful company to leave and find a new job, but as an employee of a failed or bankrupt company, it's hard to find a job because it's a loser. My pain is really indescribable, my bones are full of fear, and that kind of guilt and shame for my brothers. "
When Liu Qiangdong said this, he had already become famous.
But even so, every time he recalls this, he is still sad.
At that time, Foxconn, which was in full swing, announced that it was going to enter e-commerce, and also talked about financing with JD.com, with a very arrogant attitude and harsh conditions: if you want to hold it at a very low price, you must agree to Liu Qiangdong, otherwise you will use 500 million US dollars to kill JD.com.
Liu Qiangdong refused again and fought back strongly: "We are barefoot and not afraid to wear shoes, and cooperating with me is the last chance in your life to enter the retail industry." "
Seeing that the day of repaying today's capital bridge loan is getting closer and closer, JD.com still has not found an investor.
That year, when Today Capital held its annual meeting, it did not forget to call Liu Qiangdong.
When Liu Qiangdong introduced himself and JD.com on stage at the annual meeting, good fortune finally came to him, and a well-known banker from Hong Kong Island noticed him.
This person is Xu Xin's former boss, Liang Botao, the founder of Peregrine Investment and the super-rich man on Hong Kong Island.
It is because of him that JD.com finally completed the second round of financing of 21 million US dollars, of which Bull Capital led the investment of 12 million US dollars, Today Capital followed the investment of 8 million US dollars, and Liang Botao invested 1 million US dollars in his personal name.
This money was still used by Liu Qiangdong in an orderly manner in Jingdong's logistics platform, service technology and other aspects.
I have to say that with this money, Jingdong finally ushered in a respite, from 08 to 12 years, JD.com's sales increased from 1.3 billion to 60 billion!
There are more types than Dangdang and more genuine products than Taobao, which are the two decisions that Liu Qiangdong made at the beginning, which made Jingdong fight a bloody way.
Beautiful report cards have also attracted investment: Tiger Fund, Hillhouse Capital, Sequoia Capital, Penguin...
Recalling this, Shen Fei's face changed instantly.
"What do you think?"
Shen Fei asked Li Chunfeng. (If you read a violent novel, go to Feilu Novel Network!)
"'Well, isn't it too much money to burn?"
Li Chunfeng said with a wry smile: "I see that Jingdong is like this now, it has been losing money, and it is not a way to lose money like this." "
It's the truth.
As an investor, what Wanli Investment needs to see is the rate of return, under the premise of today's financial crisis, Jingdong's situation, even wants to finance and burn money, Li Chunfeng is more or less worried in his heart.
"Then cool him down first!"
Shen Fei thought for a while and said slowly: "But it's not that we won't vote, but we have to wait for him to be desperate before making a move." "
Although the development of JD.com in later generations is not as good as Alibaba, in the field of e-commerce, it is definitely one of the top three enterprises in China.
In this case, Shen Fei naturally would not miss the opportunity.
However, he knows very well that Liu Qiangdong is full of confidence now, and it is the time when he is triumphant, and he needs to give him a little setback.
At the very least, let him know that this money did not come easily.
Also raised 200 million!
He thought JD was face?
Picking wool on his head is really a fool's dream.
"Okay. "
Li Chunfeng nodded.
He naturally understood what Shen Fei meant, which was nothing more than letting Liu Qiangdong accept the beating of society.
But the problem is that Li Chunfeng still doesn't quite understand why Shen Fei has to invest in this JD.com.
Could it be that he is very optimistic about the future development of JD.com?
"When investing, be patient. "
Shen Fei smiled (Li De's) and said lightly: "What we do is not financial products, not buying stocks and futures, sometimes if you are not patient, it is easy to miss the opportunity." "
It's the truth.
Investing is not the same as doing finance.
Buying stocks and futures, sometimes you need not only courage, but also luck, see the right time to go ahead, and then make money and leave.
But when it comes to investing, you can't be so impulsive.
If you are optimistic about a project and invest in it, it is likely that you will not get a return for three or five years.
But if it succeeds, the benefits will be unimaginable.
In fact, Li Chunfeng himself knows this.
The key problem is that he really can't see hope in the current development situation of JD.com.
That is, Shen Fei insisted, otherwise Li Chunfeng would not have invested in JD.com.
Putting down the phone, Shen Fei shook his head helplessly.
He didn't understand Li Chunfeng's worries, but the problem was that no one would know what Jingdong would develop into in the future, and no one would know what Huaguo's economy would become with the introduction of the four trillion plan.
PS: It's on the shelves, ask for automatic subscription, ask for flowers, ask for monthly passes, ask for evaluation votes, ask for rewards, ask for various data support! I've worked really hard to write this book, and I hope you can support it more.
Người mua: ミ★๖ۣۜHεη๖ۣۜTαĭ★彡
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