Chapter 745 One Pinduoduo = Two Amazons! Breaking the 260 Billion Dollar Mark! Kang Guodong Resigns!
In the evening, Liu Qiangdong appeared in JD.com's live broadcast room, taking over as the vice president of small appliance procurement and sales. He introduced 30 home appliance products in one go and sold goods for two hours.
On the other hand, Li Guoqing also tasted the benefits of live streaming. He sat in front of the camera, holding a bottle of Moutai in his hand, commenting on the taste while talking about the e-commerce market, while users placed orders one after another.
In orange supermarkets in East China, the fresh produce section is already filled with cherries.
Gift boxes weighing five or ten pounds were piled up like small mountains. The single-J value-for-money, double-J medium-sized, triple-J large-sized, and quadruple-J premium-quality fruits were arranged separately, with the prices on the tags being particularly eye-catching. Many customers picked up the boxes and put them into their shopping carts.
The best-selling item is the Double J 10-pound pack of cherries, priced at 299 yuan, which works out to less than 30 yuan per pound, making it extremely cost-effective.
The store had prepared 300 boxes of stock, but they were all snapped up before the supermarket closed. In the end, several customers who didn't get any even asked the staff when they would be restocked.
Bihu Yunxi, inside Villa No. 6.
Ye Qiuping opened the steamer and carefully took out the garlic lobster.
As she got closer, a scent of garlic mixed with seafood, which she usually loved, wafted over, but she suddenly felt nauseous, as if something was churning inside her stomach.
She quickly put the plate on the stove, rushed to the sink, and gagged twice while holding onto the countertop. Her throat felt empty, and she couldn't vomit anything.
Then he splashed cold water on his face and muttered to himself: It must be because I didn't cover myself properly with the blanket last night and caught a cold.
Just then, a soft footstep sound came from outside the door.
Ye Qiuping knew that Chen Yansen had returned, so she quickly walked out of the kitchen, rummaged through the shoe cabinet for a pair of cotton slippers, and ran towards the entrance of the living room.
As soon as Chen Yansen pushed open the villa door, he saw Ye Qiuping running over, holding a pair of gray cotton slippers in her hands.
"Boss, I've made fish maw and ginseng chicken soup, as well as your favorite duck feet stew and braised eel."
Ye Qiuping habitually squatted down, gently holding Chen Yansen's trouser legs with both hands, and helped him take off his shoes. Her movements were skilled and gentle, clearly indicating that she had done this countless times before.
"I want to try something different tomorrow, something a little spicier."
Chen Yansen said casually.
"good."
Ye Qiuping is from Sichuan, so she naturally prefers dishes that are a bit spicier.
Chen Yansen took out his phone, first sent a message to Song Yuncheng, and then opened Meng Jie's chat box.
Mengjie sent a selfie: she was wearing a uniform with the Senlian Bank logo printed on the chest, leaning on her desk, with a layer of pink lip gloss on her lips, which looked shiny like a piece of jelly.
...
...
at the same time.
Shanghai, the headquarters of Kuaipao.
Pei Yi sat in front of the computer, his eyes fixed on the real-time transaction data on the screen.
From 0:00 to 20:00, Kuaipao Flash Sale's total transaction volume reached 7.09 billion yuan, a year-on-year surge of 64.1% compared to the 618 promotion period.
The rapid growth of the flash sale business is evident.
Ultimately, flash sales rely on the food delivery model, enabling delivery to your door within 29 minutes, while traditional e-commerce takes at least half a day to a day, and cross-province orders can take two or three days. "Immediacy" is its core advantage.
Although Kuaipao Flash Sale currently only focuses on categories with high frequency of demand, strong seasonality, price sensitivity, or scarcity, it has already covered areas such as food and fresh produce, personal care and beauty, household goods, digital appliances, and baby products.
With coverage spanning nearly 800 cities nationwide, it's reasonable to expect sales exceeding 7 billion yuan.
"Knock knock knock—!" A knocking sound suddenly rang out on the door.
"Please come in!"
Pei Yi snapped out of his reverie, leaned back in his chair, and responded loudly.
With a "creak"!
Kang Guodong pushed open the door and walked in. Before Pei Yi could speak, he pulled up a chair and sat down opposite him, asking, "Still not off work?"
"More than 400,000 brothers are risking their lives outside, how could I possibly go home first?"
Pei Yi replied with a smile.
With the end of the food delivery subsidy war, the national daily order volume has dropped from 86 million to 70 million, but the market size has actually increased.
The current market structure is that Kuaipao alone occupies 80% of the market share, Taodiandian occupies 15%, and the remaining 5% is divided among regional food delivery platforms in various regions.
As a result, Kuaipao expanded its delivery capacity again, increasing the number of full-time delivery riders to 410,000. This move also led to a large number of Taodian's delivery riders switching jobs.
Even so, with more than 50 million orders to fulfill every day, the delivery capacity of 410,000 full-time riders is still a drop in the bucket, and more than 60% of the orders still have to be distributed to part-time riders.
To this end, Pei Yi communicated with Orange Bike and Orange Garment Factory, planning to select 50,000 part-time riders each month to become full-time riders over the next six months, until the total number of full-time riders reaches 800,000.
After all, the big boss had said long ago that full-time riders should be used as much as possible. However, the production of electric bikes and the production of work clothes take time, and the training of new riders must be done step by step. It can't be rushed.
"That's true."
Kang Guodong smiled slightly.
He is now the CTO of KuaiRun Technology, in charge of the company's technology line.
Although he lost his position as CEO, he remains a shareholder of the company, holding 2.5% of the shares, which are worth $950 million based on the current valuation.
Looking at Pei Yi's exhausted face, he couldn't help but sigh: Pei Yi's abilities are indeed more outstanding than his own. With his own abilities, he probably wouldn't be able to handle the position of CEO of Kuaipao.
It's worth noting that Pei Yi has had an impressive track record since taking over as CEO of Kuaipao.
First, it defeated Ele.me, then beat competitors such as Dianping, Qiandu Waimai and Taodian, and expanded its business from China to Hong Kong Island, Macau Island, and even Southeast Asia, Europe and North America, making Kuaipao's influence go global step by step.
To be honest, Kang Guodong himself knew that he really didn't have the confidence to compete with Pei Yi.
Whether it's strategic planning or business development, Pei Yi's abilities far surpass his.
"If you don't have anything else to do, go home early. The tech department has been working really hard lately."
Pei Yi put down the documents in his hand and looked at Kang Guodong.
"Have you had dinner yet?" Kang Guodong didn't answer the question, but instead took the initiative to ask about dinner.
"It seems like I haven't actually eaten anything."
Pei Yi subconsciously touched his stomach, only then belatedly realizing he was hungry.
He got so busy in the afternoon that he threw himself into his work and didn't even think about eating.
His secretary had reminded him that it was time to eat, but he just gave a perfunctory reply and then forgot about it.
"A new Western-style barbecue restaurant just opened near the entrance. The food is pretty good; they serve large meat skewers on red willow wood. Want to grab a drink?"
Kang Guodong then made the suggestion.
"OK."
Pei Yi readily agreed.
He knew that Kang Guodong rarely invited him to dinner, so the fact that he specifically asked him out today meant that he probably wanted to talk to him about something, either the work of the technology department or the upcoming business plans.
The two walked out of the Kuaipao headquarters building side by side. The evening breeze carried a hint of coolness, which dispelled some of the fatigue from work.
After walking a few steps, I saw a barbecue restaurant.
The sizzling meat skewers rolled on the grill, and the rich aroma of meat mixed with cumin wafted through the air.
Kang Guodong found a seat by the window and skillfully called out to the waiter: "First, twenty skewers of red willow mutton, two skewers of roasted lamb kidneys, and two bottles of Wusu beer."
"Okay, it'll be ready soon!" the waiter replied.
After the waiter had walked away, Pei Yi put down his teacup and looked directly at Kang Guodong: "Speak, what is it?"
"You figured it out?" Kang Guodong grinned, asking with a hint of self-deprecation.
"Your thoughts are practically written all over your face."
Pei Yi teased, half-jokingly.
Kang Guodong's smile faded slightly. He picked up his water glass, took a sip, and slowly said, "These past two years, I've been working non-stop with the company, and to be honest, I'm a bit tired. I also know that with my current technical skills, it's becoming increasingly difficult to shoulder the responsibility of CTO. So I want to resign and find a southern city with a spring-like climate all year round to take a good rest and rejuvenate."
"You want to resign?" Pei Yi was slightly taken aback upon hearing this, then frowned and advised, "Brother Dong, can't you wait a little longer? I talked to Brother Sen before, and the company will start the listing process no later than next year. Why do you suddenly want to leave now?"
"I know my own limitations. Brother Sen didn't take the initiative to replace me because of our past relationship, but I also have to be clear-headed and not occupy the position and delay things."
Kang Guodong shook his head with a wry smile, looking relieved.
Pei Yi frowned even more, but didn't say anything more. He just glared at him angrily: "Sen knows your abilities. He personally appointed you as CTO. You're just trying to slack off and making excuses."
"Hey, you're absolutely right, I just don't like going to work."
Kang Guodong didn't argue; he just shrugged and readily admitted it.
Seeing his expression, Pei Yi sighed and didn't try to persuade him any further: "Alright, next time I have a video conference with Brother Sen, I'll mention your idea to him."
After all, everyone has their own ambitions.
When people have enough money and don't have to struggle to make a living, most people would like to leave their jobs and do something they enjoy.
He could understand why Kang Guodong would have such thoughts.
Thanks.
Kang Guodong picked up his wine glass and raised it towards Pei Yi.
"cheers!"
Pei Yi also picked up his wine glass and gently clinked it against his.
The two were classmates, friends, and colleagues. They went from working together in a small office modifying code and visiting merchants when the company was just starting out, to watching Kuai Pao grow from an unknown small food delivery platform into an industry giant.
Despite his reluctance, he knew that some things cannot be forced.
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At 10:00 AM the following morning, Pinduoduo officially announced the single-day transaction volume of the Double Eleven promotion—74.16 billion yuan—through all online platforms.
The moment this figure was released, it instantly went viral across the internet.
Related topics quickly rose to the top of the trending search list on social media platforms, industry analysis articles flooded social media feeds, and even netizens left comments in the comment section marveling at how "they can sell so well."
The reason for such a strong response is the astonishing growth rate behind this achievement: a year ago at the same time, Pinduoduo's sales on Singles' Day were only 23.76 billion yuan.
In the same period last year, Ali's Singles' Day sales reached 34.92 billion yuan.
In other words, Pinbei not only achieved nearly three times its own sales growth in just one year, but its daily transaction volume also reached more than twice that of Ali last year.
Only after seeing his "big brother's" battle report was released did Liu Qiangdong signal the JD.com marketing department to release the results – 26.14 billion.
Compared to the sales volume of Singles' Day in 2013, it increased by a full 15 billion yuan.
For a time, among the three e-commerce giants, only Ali has not yet released its Double Eleven sales report.
Sporadic discussions have begun online, with many netizens speculating about Ahri's performance this time, and some bloggers even jokingly asking, "Is he preparing a big surprise?"
They knew very well that the reason Ahri hadn't released the data was probably because his performance this year had been so poor, which was why he was hesitant to announce the results.
Ma Liyun scrolled through these discussions, feeling a weight on her heart: In previous years, Ali would release its sales report in a high-profile manner as soon as Singles' Day ended. This had long been a common practice in the industry and a way for Ali to maintain its industry position.
However, if they suddenly break with tradition and do not release data this year, the outside world will inevitably interpret it as "poor performance." At that time, they will not only be ridiculed by their peers, but may also shake investors' confidence.
Oh well, so be it if I'm embarrassed!
Half an hour later, Ali finally released a sales report on its official Weibo account, showing a single-day transaction volume of 49.36 billion!
This figure might have been respectable in previous years, but compared to Pinduoduo's dazzling 74.16 billion yuan, it seems like a joke.
They were instantly reduced to dust!
Old Ma couldn't help but recall the glory days a few years ago when Ali dominated half of the e-commerce market!
Back then, the release of the Double Eleven sales report would shake the entire industry. Now, however, the company has to carefully present this "report card" amidst speculation and ridicule.
What bothered Ma Liyun the most was that the first World Internet Conference was to be held in Sanhe Ancient Town a week later.
As the chairman of Alibaba, he must attend.
But the thought of possibly running into Chen Yansen made him hesitate.
The two used to have a good relationship; when they met, they could chat, discuss cooperation, and have a drink.
The competition between the two sides has become increasingly fierce in the past two years, and they can only maintain a superficial politeness when they meet.
The key point is that Alibaba lost in all three areas: food delivery, group buying, and e-commerce.
If Ahri wins, he'll definitely be eager to meet Chen Yansen.
The results of the three companies' battle reports were quickly reflected in their stock price movements.
Ali's stock price continued to decline after the market opened, and by the close of trading, its market value had fallen from US$196 billion to US$183 billion.
JD.com's stock price rose slightly and broke through the $60 billion mark for the first time.
Pinduoduo's stock price performed the strongest, soaring from $98.6 per share to $117.1, bringing its market capitalization to $260 billion.
In contrast, Amazon, due to the failure of the Fire Phone, had to write down a financial loss of $170 million, which caused its stock price to plummet, and its market value at that time was only $135 billion.
One Pinduoduo is equivalent to two Amazon products!
It's clear from the stock price fluctuations that investors in Europe and America have implicitly acknowledged Pinduoduo's leading position in the e-commerce industry!
(End of this chapter)
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