As a result, many group-buying merchants on Koubei.com and Wowo.com started running away with the money. Who could afford that? They were being complained about and given bad reviews every day.
This is unbelievable! I just wanted to make some money, but I feel like these group-buying quality inspectors are looking at me like they want to kill me.
After this series of exchanges, Jack Ma felt mentally exhausted. Something must have gone wrong. Upon reflection, he realized that it all started when Xu Maodong called him to ask for cooperation.
Sure enough, WowoTuan was the unlucky one.
Seeing Wowo's market share plummeting to less than half of what it used to be, Jack Ma was a little embarrassed.
He made a phone call to Xu Maodong.
"Mr. Xu, I'm really sorry, but Lin Chen is such a scoundrel. He has no sense of honor whatsoever. In order to prevent further losses to Wowo Group, I'll return the 500 million to you first. I'll focus on conserving my energy and building up Taobao's big data capabilities before helping you seize market share."
After saying that, he hung up the phone.
Not long after, Xu Maodong received a refund of 500 million yuan from Alibaba.
This wave may seem like Xu Maodong didn't lose a single penny, but in reality, he lost a fortune.
He didn't spend a single penny, but Wowo Group's market share is almost gone.
Not to mention the greasy food from Lashou and Meituan.
Even Jack Ma, who gave him money and promised to help him, created a reputation website for himself.
Where did this market share come from?
No need to say more, right?
Moreover, he took out a loan for 500 million, and there's interest on it!
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