However, there is no need to explain these to investors, and they will not understand them. Just like today, there are still many investors who think that the future of selling coffee is not as good as Luckin.

In fact, the profit margin of convenience stores and coffee sales is definitely beating Luckin, and all convenience stores are thanking Luckin Education Market for educating white-collar workers, and waiting to receive the fruits of Luckin's victory. Of course, Luckin also began to sell some convenience store products as a warning and counterattack to the convenience store industry.

Speaking of these pragmatic contents, the atmosphere has finally become better, and many people have asked questions one after another. Until the end, according to Chu Yuanxi's instructions, Yuan Yu asked two questions that he would rather be asked.

The first is cloud computing, which is the next bright spot of the well-off, but there are too many people engaged in cloud computing recently, so the bright spot is buried in a large number of bald spots, which is not bright enough. Therefore, it is necessary to use questions and answers, especially Yuan Yu's questions, to make people understand where the light is.

Yuan's question was: "I don't understand why you have to spend a lot of money to deploy data centers? Isn't our well-off cloud a block cloud taken from and used by users? Isn't our cost very, very much lower than that of all cloud computing? Why did you pay back hundreds of millions of dollars to build cloud resources?"

Chu Yuanxi felt that Yuan Alfalfa should have practiced repeatedly according to the lines, so he was sincere.

"Well, that's a good question. I have three points to explain. ”

He seemed to be able to see that all investors were listening with their ears pricked up, "First of all, cloud resources are equivalent to real estate, and building a cloud is to build a real estate, and then either live by yourself or rent it for rent."

The second is that block clouds inevitably need to deploy certain resources first, wait until there is no problem with smooth operation, and then rely on self-sufficiency. Therefore, in the early stage, it is necessary for us to deploy traditional cloud resources by ourselves, build them and live in them, and then we don't need to rent them out, and maybe we can make money.

The third is our cost. You know the online earning application, right? It's those xx pig farms, dragon money and the like, the logic is to let users click on ads, and the application is responsible for aggregating advertising fees, and then distribute a part of it to users.

In fact, our Internet of Gaming is the same, and the value of cloud computing is created by users. So you have to say how low the cost of Xiaokang Cloud is, if I don't give it to users at all, it will be zero cost, but it is impossible, the specific cost depends on our payment strategy. This part is linked to the currency cycle, let's not discuss it today, in short, the computing power that Xiaokang Cloud can aggregate depends on the scale of users, so the initial return ratio must not be low. That's why it's necessary to build our own cloud resources. ”

This incisive explanation makes the characteristics and future prospects of the well-off cloud computing clear, and investors, including Xu Xin, are basically in a state of happiness and convincing. But in fact, Chu Yuanxi still has a key point that he didn't say. That was revealed by the fact that he was going to convene a small meeting of the co-founders of the Ba people after the meeting.

Even so, it is expected to impress investors, right? You must know that cloud computing companies are now in the process of going public, and they are themselves fragrant and sweet in the capital market. Chu Yuanxi even considered using cloud computing as a selling point to tell the story again, which is not impossible, but considering that this story has actually been told in the previous A round of financing, telling a story twice is not in line with his own personality.

At this time, Yuan Yu raised the second question as planned, which was actually the last question of the entire meeting today: "Finally, I want to ask a special question, why has Xiaokang never been on the third-party purchasing platform?

This problem may not be noticed by many investors, because why write on the description of what has not happened? Therefore, many people who do not usually use Xiaokang APP take it for granted that convenience stores must go to a third party to purchase.

In fact, this is indeed the case, even Meiduo small store, which has its own delivery team, hands over the purchasing agent of the small store to a third party, but Xiaokang does not. This is exactly the "question" that Chu Yuanxi wants to answer.

"Well, they look very fragrant and can improve GMV, but have you ever considered that the gains outweigh the losses? Our own coupon system is even more fragrant, and on the third-party platform, we have to go through their preferential system, not only can not let customers come to the store, but also refuse customers out of our system. To the store, as well as our user system, are the two ways of development of the well-off, have you forgotten?"

Originally, Yuan Yuan thought that this was the end of the story, but he didn't expect Chu Yuanxi to talk about it later: "In addition, I thought that we would have a great competition with Huang Tuan and Ele.me in the future, so it would be better to separate from the beginning." ”

"What are your plans?" asked Xu Xin curiously, because this was not passed through in advance.

"I would like to ask you, how do you see the relationship between businesses and local life platforms?"

Zhao Zhujiang immediately said: "Symbiotic relationship, right?"

At that time, when they met by chance in West Lake, Chu Yuanxi's advice to him was to engage in logistics and e-commerce in Africa, and use Transsonic Technology's offline resources in the local area to directly roll it out. As a result, he didn't listen, because he didn't understand local life, so the new business he chose was smart TVs, which were closer to mobile phones.

As a result, he regrets it now, and a large number of Celestial Empire entrepreneurs chose to go to Africa to start a local life business, so he also began to study local life.

When the big guy speaks, Chu Yuanxi has to give affirmation first, although he is confident that the next round of valuation will make Xiaokang surpass Transsound Technology. But that is the valuation exceeded, the foundation of the people is huge and flourishing, especially occupying the most potential market, full of offline this most important skill, and there are some investors in stock trading who only look at the financial data to buy stocks with their feet, and the final market value is bought, which does not reflect the status of the rivers and lakes.

So Chu Yuanxi still thinks Zhao Zhujiang is a big guy.

This time, he brought Lao Zhao to the town, in fact, he also had an in-depth chat about local life, maybe Lao Zhao finally decided to vote for 100 million yuan for Xiaokang, and there was also a reason for this earnest discussion.

Of course, there are many problems in developing local life services in Africa, but Chu Yuanxi is a "bystander" who does not have a backache when he stands and talks, so he encourages him to say: "Do it or not! If you have the means to integrate the business of African people, you can do it, and if you don't have it, it will be extremely difficult, so don't do it at all." ”

The reason why I say this is because it is just as difficult to have the instrument, so many countries in Africa are different from each country, it is easy to be a country, but it is difficult to unify a "world". But people who have the capacity to get excited when they see so many difficult challenges are entrepreneurs.

Lao Zhao has been reflecting on himself recently and is still not an entrepreneur, so he finally decided to invest 50 million in Xiaokang.

At this time, the big guy took a stubble, and Chu Yuanxi said: "You are right, it should indeed be a symbiotic relationship." In the local life industry chain, the mainstream business of the online platform is actually the traffic model, which attracts a large number of users to inject traffic into the platform, and at the same time sells traffic to offline merchants to complete the closed loop of O2O. This is where the main value of the O2O platform lies.

However, at present, the relationship between the platform and the merchant is that of the landlord and the tenant, because the platform is too profitable by traffic. Originally, the platform was supposed to help merchants better serve users, but now the platform uses traffic to coerce merchants; it should be by serving users to make money, but now the platform is kneeling and licking users and squeezing money from merchants. The stronger the platform's ability to manage traffic, the more ruthless it is to cut leeks for merchants.

But I don't see it that way, I see businesses as resources. ”

Speaking of this, Chu Yuanxi was a little embarrassed, because he improvised it, and he didn't know what to say when he played it here. It's not that I didn't say it, but I don't want to say it. There are a lot of things that should be done after Milestone 6 is completed, and after putting up the flag with great fanfare, you can't bark if you want to be a biting dog before.

So he had no choice but to recycle: "Xiaokang has established an easy-to-use and fully functional user system, absorbing users like mobile Internet products, it is definitely not just for the store to sell goods, right? We also have to work hard for the goal of national application, otherwise where would we get the valuation of 300 billion?"

This remark makes people think about it, but it is not real at all, which makes many investors angry!

But Xu Xin and Yuan Yu's minds involuntarily reproduced the realistic map corresponding to the content on the well-off line. There are a large number of nodes on that map, and there are various venues and clubs that users have crowdfunded through the City Treasure gameplay, which is a closed-loop mouth for the currency cycle. The virtual merchants invested by users correspond to the physical stores, which is a strong support for mobile payment.

On such a beautiful map, the merchants have already gotten into the well-off car, so they can't rely on the well-off traffic to do some O2O?

The users of the yellow group are traffic, but the well-off ones are not? What's more, the function of the AI group owner is so flexible, Chu Yuanxi also has a plan to provide enterprise services, or in the form of open developer interfaces, with this scalability, it is O2O with two strokes, right?

The key is that they all know that Chu Yuanxi's plan has a home delivery business for Xiaokang, but it is not opened now.

Isn't it proper to put together these puzzle pieces to compete with Huang Tuan? And it's not a general competition, it's deeply malicious. In particular, Xu Xin can clearly feel Chu Yuanxi's malice, the big guys are all about dimensions, they are all trying to stand on the high dimension, and then turn back to fight the low dimension.

But when others drill into the high dimension, they are very hard and very open, relying on strength to bring down competitors, Chu Yuanxi secretly established a huge system, and then spread it out as quickly as possible, so that people don't even have a chance to react. Therefore, Chu Yuanxi regards the business as a resource rather than leeks, leeks are used to cut, and resources are used to add bricks and tiles to themselves, which is different.

You must know that others disclosing their efforts not only put pressure and motivation on their competitors, but also leave room for themselves, and once Chu Yuanxi's system and promotion do not meet expectations, they will face a comprehensive recession.

This link of thought made Xu Xin entangled, should he invest a little more or stop there? When risks and opportunities coexist, the most painful thing is that there is no reference to anchor, and the future is at a loss.

But intuition was also generated at this time, Chu Yuanxi had already finished speaking, Xu Xin suddenly added: "I said before that adding 200 million is a bit less, I will increase it by 200 million to 400 million." ”

After speaking, she smiled bitterly at Chu Yuanxi, as if she was saying that no matter how much she wanted, she really couldn't take it out.

This made Chu Yuanxi quite surprised, it turned out that she still had it, isn't it gone?

It's a pity, if there is a roadshow, Chu Yuanxi is confident, mainly because he has confidence in his own work, and he will make the work he has prepared, even if it is said that the audience will reward the flower basket for cross talk, not to mention that there is a group of investors in the audience? But if you can't communicate face-to-face, the aura can't be emanated, and it's not easy to make people tempted.

This shows that no one is perfect, and there are still flaws in their skills!

The whole conference is basically over, and Chu Yuanxi immediately does the finishing work, that is, to summarize the problems of the conference, and then look forward to the future again.

This outlook, which is more suitable for calling on investors to bet, has actually been written a long time ago, and it is written that after about a year of development, Xiaokang is industry-leading in terms of technology accumulation, organizational structure and corporate culture, and there is also a very strong traffic pool that can be used, so it is currently on the eve of the outbreak.

For the future, there are several things that a well-off company needs to do if it wants to succeed, among which the reduction of customer acquisition costs that can be expected at present, and the successful exit from the cash-burning link of subsidized users, which is the key to take-off.

The company basically does everything in front, and the continuous accumulation allows the company to get the support of a perfect user system in the rapid development. Among them, before the restructuring of Baren Group, the founder team of Xiaokang has completed the construction of the traffic pool and the exploration of monetization methods, and the huge private domain traffic can provide hard support for attracting new users and interaction in the future.

When it came to dying, Chu Yuanxi began to brag about himself, saying that two years ago, it was difficult for anyone to realize that private domain traffic could bring considerable results, and it was only in the second half of last year that local life players began to pay attention to private domain traffic.

Narrowing down to the convenience store track, this industry is not suitable for advertising. Going to any platform for global promotion is itself a low-cost behavior, and it does not play a role in establishing sales channels, so I have to start operating private domain traffic, but because I am not a professional player, the progress is very average.

The well-off has an incomparable advantage in this category, but because they have not used this advantage, many people do not know it clearly, which in turn affects the judgment of valuation.

Finally, Chu Yuanxi mentioned the online content of Xiaokang at the end of the email. Because online content is still low-key even today, many investors have been deliberately guided by Chu Yuanxi to ignore this, but it is not appropriate not to mention it at all.

Regarding the online content part, Chu Yuanxi promised investors that it has been fully developed according to the plan and will be gradually launched soon. Like the previous round of financing, he still had to hide his online content, in order to avoid someone digging into the roots, he finally said this: Regarding the online content part of Xiaokang, you can actually refer to the extranet video platform Netflix. FLIX's "content + channel" operates differently but can form a closed business loop and stand at both ends of the smile curve.

Of course, Chu Yuanxi didn't just send an email, but also announced the time node for each investor, this day is February 28th, and investors need to give definite feedback before March 5th, and start doing TS on March 6th. If there is no problem with the investment term sheet, sign the formalities on March 9, and strive to sign the subscription agreement SPA before March 14.

This time requirement really shocked a lot of people, half a month to go through the posture of completely unprocessed, and it is one-to-many, this is a bit floating?

Chu Yuanxi actually can't help it, he doesn't wait for his grandson in time. Originally, it would have been possible to start the financing process earlier, but it turned out that the special period could not start, which is already the most feasible set of plans.

So, the next day, commentators' articles appeared in the circle, published in relatively large investment and financing self-media. However, what is more strange is that people's eyes are focused on the Ba people, maybe they realize what is the source of the well-off confidence?

The article said: The outside world's valuation of Ba Ren Group is too obsessed with the direct realization value brought by the game, which may be due to the large volume of this value, so it ignores the self-media that Ba Ren relied on. This is indeed very problematic, and at the moment, the value of the Ba Ren Group is much more than a Ba Ren game and the cash it was exchanged for by the merger.

The author also noted that employees in key positions in Pakistan Information were required to sign large-scale non-compete agreements, and most of the top employees in the agreements were convenience store companies and M self-media companies that provide TOB services to convenience store enterprises.

Chu Yuanxi looked at this public account tweet is simply Spartan, who is this such a grandson? This is not a naked to tell friends and businessmen, come to the Baren Group to dig people, here are the talents you need! A very simple truth, an employee's competition is written on which companies, this employee has a higher probability of which companies need people, the higher the amount given by the competition, the greater the gold content of this employee.

Therefore, Chu Yuanxi was so angry that he vomited blood, and said in his heart, who is cheating on his father, what is this?

At that time, he was in a meeting, and it happened that Zhu Wei and the others had returned, and they could finally put together the entire founder team of the Ba people.

The financing of the well-off will definitely not be able to make up 4 billion by investors alone, and the extremely great immortals, which are regarded as the cornerstone by Chu Yuanxi, have made up less than 800 million in total, and the number reported by Zheng De is 150 million.

This is less than 800 million Xu Xin walked up to 400 million per person, even if Chu Yuanxi caught a sheep, he knew how much he couldn't come out.