Reborn in 08, Public Enemy of Competitors

Chapter 110 Jack Ma, the Swindler and Deceiver; Boss Shen, the Moral Exemplar

The next day, the conference hall was brightly lit, and the words "Lingyun Technology · Pinduoduo Media Communication Meeting" on the backdrop were particularly eye-catching.

Below the stage, cameras from dozens of media outlets were pointed at the podium.

Lin Qingyan, as the Director of the Legal Department, along with Sun Tongyu, Huang Zheng, and others, represented Shen Mo and were responsible for the press conference.

Back then, I couldn't get a permanent position at a top-tier law firm because of my first degree. Now, things are very different!

"The reason we at Lingyun Technology are holding this press conference today is not to shirk responsibility or to evade the issues."

The sound echoed in the conference room and was also recorded by the voice recorder and camera.

"Although the police are still investigating the fake wine incident on Jiuxian.com and the responsible party has not yet been definitively identified, Pinduoduo, as an e-commerce platform, must bear the responsibility it should bear."

"President Shen has decided that any user who purchases Moutai and Wuliangye from Jiuxian.com through Pinduoduo should contact Pinduoduo customer service with the authentication certificate from the China Institute of Inspection and Quarantine or the official Moutai anti-counterfeiting office, as well as the purchase record on the platform."

"We will strictly follow the Consumer Rights Protection Law to implement the policy of refund plus one-time compensation, that is, double compensation."

These words caused an uproar in the room.

These days, even Ali (a popular Chinese fox spirit) can only offer a refund at most.

Moreover, the return process is cumbersome, and you have to pay for the return shipping yourself. If you buy counterfeit goods, most people can only accept their bad luck.

Pinduoduo not only accepted the loss but also offered a refund plus an additional compensation, making it a breath of fresh air in the e-commerce industry!

Before public opinion spiraled out of control, Pinduoduo quickly regained user trust by offering a "refund plus one-time compensation" apology.

In the forum posts, some people regretted not being able to snag Moutai and Wuliangye, some made sarcastic remarks, and others started to defend them.

Moreover, this trend is becoming increasingly apparent, with more and more people speaking well of him.

"Shen Mo's character is fine. Just because he dared to shout the slogan of 'refund one, compensate one,' I will still buy things from him in the future."

"From now on, I will only buy things on Pinduoduo and Jingdong. There are too many counterfeit goods on Taobao. If I want to return something, I have to argue with the seller. The customer service is just trying to smooth things over and doesn't stand in the interests of the users at all."

"I don't ask for anything else, just being willing to give a refund is better than not giving one."

After receiving double compensation, the customers who bought the counterfeit alcohol changed their attitude drastically and spoke highly of him.

With the "scandal" of Zhifubao's equity transfer officially exposed, and compared to its competitors, Shenmo's image became even more radiant.

It's simply a case of "swindler Jack Ma and morally upright Boss Shen".

"Haha, spending a little money to get this kind of effect is more worthwhile than losing money on CCTV."

Huang Zheng couldn't stop smiling when he saw Pinduoduo's user growth curve.

"The online sentiment has completely reversed!"

"The fake alcohol incident did not harm Pinduoduo at all; on the contrary, it greatly increased users' trust in us."

"This time we were lucky; the responsible party is not Pinduoduo."

Shen Mo clicked his tongue. "We need to be extra careful in the future, and it would be best to nip these kinds of things in the bud."

"In my experience, Huitong Logistics is the most likely culprit in the case of counterfeit alcohol from Jiuxian.com."

Sun Tongyu said, "The express delivery industry is now growing wildly. There are far too many cases of rough sorting, lost or damaged packages, and even tampering with packages for personal gain. High-value commodities like liquor, especially Moutai and Wuliangye, are the easiest targets."

Shen Mo said, "Regardless of whether it's a logistics issue or not, we should start developing our own courier company."

"The quality of courier companies varies greatly these days. Fruit often rots when it reaches customers, and Pinduoduo ends up taking the blame."

Huang Zheng nodded in agreement: "If the logistics issue isn't resolved, our reputation will be ruined sooner or later."

Sun Tongyu cautioned, "But building your own logistics network is too costly. Look at Jingdong; they've invested so much effort in it."

"Back when I was at Taobao, I chose an asset-light strategy, which allowed me to leave Jingdong far behind."

"Therefore, we cannot end up like Jingdong!"

Shen Mo said, "We must make full use of transit warehouses and sorting centers, but we also cannot allow more companies to be established under multiple names, thus diverting resources."

Huang Zheng counted on his fingers, explaining that there are generally three models for e-commerce companies to establish logistics.

One type is like Jingdong, which builds its own logistics network entirely; the other type is like Vancl and Newegg, which combine self-built logistics with third-party logistics.

Another approach is for Ali to seek strategic partners, such as Shentong and Yuantong.

"We'll take the third approach, but unlike Ali, we'll target a small to medium-sized courier company and try to acquire a controlling stake."

o

Shen Mo held up three fingers.

Sun Tongyu asked, "Controlling stake? Will they agree to that?"

Shen Mo did not answer directly, but asked instead, "Tongyu, how many parcels did Taobao generate in a day in 07?"

'

"Probably two or three hundred thousand," Sun Tongyu replied.

When did you leave your job?

"It's over a million. Shentong handles around 80 orders a day, Yuantong around 50, and Zhongtong and Yunda also handle over 20."

"Mr. Shen, are you trying to use Pinduoduo's e-commerce shipments as leverage?"

Watching the two of them exchange questions and answers, Huang Zheng was the first to figure it out.

"Yuantong and Shentong are closest to Taobao and have already taken most of Taobao's market share. Zhongtong and Yunda can only get scraps, and other small and medium-sized express delivery companies can't even get scraps. Do you think they are willing to continue to struggle with Taobao, or do they want to take a gamble with Pinduoduo?"

He looked left and right in silence.

"We traded orders for their controlling stake, and they traded their existing logistics network for their future survival and development."

Sun Tongyu said with a smile, "Both sides get what they need, and neither side loses out."

"good!"

Huang Zheng clapped his hands. "I'll arrange for Wu Mei to find a suitable courier company right away."

"Look, you're in such a hurry again."

Shen Mo nodded: "The most important thing right now is to secure the Series A funding. There are no shortcuts in life, but money opens up new paths."

At the end of July, the Sands Century Tower welcomed representatives from IDG, Goldman Sachs, and Tencent.

The atmosphere in the meeting room was more somber than usual.

Ma Huateng attended the event with Liu Chiping, Wu Xiaoguang, and others. His gaze swept around the room before finally settling on Shen Mo.

Shen Mo stood up and extended his hand: "Pony, I didn't expect it would be you who came in person."

Ma Huateng smiled and said, "It's been less than a year since we last met. I didn't expect things to develop so quickly."

"Ten thousand years is too long, seize the day."

Shen Mo said, "It's also thanks to Tencent. Without QQ's social traffic, Pinduoduo and YiTao GO wouldn't have developed so quickly."

"No need for formalities."

Ma Huateng got straight to the point, "Let's talk about the terms of this financing."

"As you all probably know, Pinduoduo has made a lot of money from ginger and garlic."

Shen Mo was somewhat reserved in his statement. He planned to sell 70% of the ginger and garlic shipment first, locking in a profit of approximately 1.03 million yuan.

The remaining 30% will be sold in batches until the end of the year, aiming to earn more money. The overall balance sheet should be around 100-200 million.

RMB.

"What we lack is not money, but your resources and endorsement."

"Especially for Tencent, Pinduoduo needs a quantifiable traffic support plan."

"You mean adding Pinduoduo to QQ's main navigation bar, right?"

Ma Huateng stared straight ahead.

Huang Zheng said solemnly, "That's right, it's for one year, and we'll decide on a later date depending on the situation. I don't think this condition is unreasonable, is it?"

Liu Chiping received a signal from Ma Huateng and slowly began to speak.

"That's not unreasonable, but in exchange, Tencent needs to have priority investment rights in Pinduoduo's future Series B and even Series C rounds."

"Can!"

Shen Mo agreed. The reason for wanting QQ's primary navigation window was not only to facilitate Pinduoduo's social sharing and accumulate more users, but more importantly, to secretly obtain information such as QQ's friend list, in preparation for the later cold start of WeChat.

It's like secretly using the Northern Darkness Divine Skill to absorb QQ's internal energy, and then silently passing through WeChat.

Subsequently, IDG and Goldman Sachs also participated in the negotiations to determine the overall framework and corresponding terms of the Series A financing.

After some haggling, Pinduoduo's valuation was set at $13 billion, surpassing Jingdong and second only to Taobao.

After all, compared to the asset-heavy logistics B2C model, Pinduoduo's C2M asset-light model is more favored by capital!

Moreover, the fact that Shenmo was able to emerge unscathed from Ahri's pressure and even become more courageous in the fight is enough to prove the potential of Shenmo and Pinduoduo!

After the meeting, Ma Huateng took advantage of the time when Goldman Sachs and IDG left to privately approach Shen Mo.

"We've been working together for so long, so let's be frank: Tencent is interested in acquiring E-TaoG0, or at least getting a controlling stake."

"To acquire our YiTaoGO, that's no small sum."

Shen Mo was not surprised, or rather, it was something he had planned in advance.

YiTaoG0 holds a crucial position within Tencent's e-commerce platform. It serves as a hub connecting QQ Zone, Paipai.com, and QQ e-commerce, is the core of the entire social e-commerce chain, and is the largest traffic guide window for e-commerce platforms such as Ali, Jingdong, and Amazon China.

Whoever controls YiTaoGO will secure a place among the top two e-commerce platforms.