Due to the excellent style of Lei Jun, Cai Wensheng, and Ren Pingsheng, the entire investment board of directors was opened, and only two projects were really finalized, "59.com" and "Dianping.com", and 90% of the investment projects were rejected by them.

Although the two projects screened out are very potential and are also in line with Ren Pingsheng's judgment on the development trend of the second phase of China's Internet, he still has regrets in his heart, because the "Jingxi Mall" he has always wanted to invest in is not among the candidate targets this time.

Seeing that the last project was denied, Ren Pingsheng couldn't help but put forward his own opinion.

"Jingxi Mall, I have never heard of this project. ”

Lei Jun said with a misty face:

"Lao Cai, do you know what Jingxi does?"

Cai Wensheng knew a little more than Lei Jun, he frowned and said"

"Yanjing does have an e-commerce company called Jingxi Multimedia Network, Jingxi Mall has never heard of it, Mr. Ren, what you said is Jingxi Multimedia. ”

When Ren Pingsheng saw the reaction of the two, he immediately knew that he had lost his words, and once again told the future events that had not yet happened in advance.

The famous Jingxi Mall only appeared after the revision in June 2007, and it was called Jingxi Multimedia Network before.

As the name suggests, the main business of Jingxi Multimedia at that time was to sell all kinds of computer accessories and IT products, and the predecessor of Jingxi Multimedia, that is, the first step of the company's founder Liu Qiangxi's starting point, was to rent a small counter in Zhongguan Village to sell recorders and CDs, which was the origin of Jingxi Company.

Jingxi Multimedia started from a counter in Zhongguancun, and gradually established 12 branches through 5 years of development, becoming a well-known CD distributor in Yanjing City, but Liu Qiangxi was not satisfied with the status quo, and opened Jingxi Multimedia Network in 2004 to try to do online sales, and by the end of 2005, the daily order volume of Jingxi Multimedia Network has reached more than 500.

Of course, compared with the pioneers in the field of e-commerce such as Ali Ma Ma and Dibao, the volume and competitiveness of Jingxi Multimedia Network at this time are far from reaching the threshold of entry, except for users who are very sensitive to online shopping of IT products, not many people know Jingxi Multimedia, so Lei Jun's surprise is understandable.

"Yes, I may have misremembered the name of the company, the founder of this company is called Liu Qiangxi, right?"

Ren Pingsheng found an excuse to perfunctory the past, but Lei Jun and Cai Wensheng didn't care.

They wondered why Ren was so interested in BWI Multimedia.

"Mr. Lei, what do you think of Amazon?"

Ren Pingsheng was not in a hurry to answer the questions of the two, he turned his face to Lei Jun and asked.

Lei Jun had a thoughtful look on his face, and he said slowly:

"I do a very in-depth study of Amazon, Amazon is a pioneer in the field of e-commerce, but also a model of the B2C e-commerce industry, its creation and development has laid a lot of basic theories of e-commerce, it can be said that understand Amazon, even if you understand e-commerce. ”

Ren Pingsheng smiled and said:

So, why has Amazon entered China for two years, but there has been no breakthrough in the domestic business, and the transaction volume and the number of users have been left behind by Dibao. ”

Hearing Ren Pingsheng mention Amazon China, an indescribable expression suddenly appeared on Lei Jun's face, and Ren Pingsheng knew that he had talked about his pain points.

The predecessor of Amazon China is the excellent network founded by Lei Jun.

In 1998, Jinshan company got the investment of Lianxiang Group after the establishment of the excellent network, the excellent network started from software downloads, and then developed to the speaker book and other fields, before the treasure network was not launched, and the bell bell network divided half of the domestic e-commerce industry.

However, due to the immaturity of the soil for the development of domestic e-commerce at that time, although the excellent network sat down to 100 million yuan per quarter trading volume, it was not profitable, and Lianxiang Group did not have the patience to continue to invest money in the excellent network, in the face of the double pressure of financing and shareholders, Lei Jun had to reluctantly sell the excellent network to Amazon, which was preparing to enter China at that time, and became the foundation of Amazon China.

"Amazon's problems in China should be blamed on the lack of understanding and attention to foreign markets at the U.S. headquarters. Since the China branch is only a dispatched agency of the headquarters, all the executives are parachuted from the United States, there is no in-depth research on the Chinese market, and they do not understand the consumption habits of Chinese users. ”

Lei Jun pondered for a while and said slowly.

After being acquired by Amazon, Zhuoyi.com did not develop as expected, and still stayed in the field of video books, and its business and quality were not greatly improved.

"Moreover, Amazon headquarters is reluctant to delegate power to foreign branches, all major decisions need to be submitted to the headquarters for approval, without the approval of the headquarters, foreign branches can not move anything, the most important means of e-commerce promotions and discounts, in such a long decision-making chain, is not effective. ”

For the field of e-commerce, Lei Jun can be said to be a pioneer and explorer in China, his understanding of this industry is really profound, and he analyzes the etiology of Amazon China (Excellence Network) to the top, which is completely consistent with the memory of Ren Ping's previous life.

"Well said. ”

Ren Pingsheng clapped his hands, and continued:

"Lei Jun, your view of e-commerce is correct, and your exploration of e-commerce is also correct, but the real reason for the failure of Excellence.com is that the outlet has not yet arrived. ”

Ren Pingsheng's words were more straightforward, but Lei Jun was not displeased when he heard this, he frowned slightly and said:

"What do you mean by that?"

Ren Pingsheng had time to continue.

"There are two main factors restricting the development of domestic e-commerce: one is the payment system, because our financial industry has been relatively backward for a long time, the construction of the credit system is not perfect, before the credit card has not been popularized in large quantities, the lack of reliable means of payment is the biggest problem in the development of e-commerce. ”

"The other is the logistics system, our country is a vast country, and the geography is very complex, due to the state-owned postal and other enterprises have long monopolized the express logistics industry, express logistics is slow, high cost, has been restricting the development of e-commerce. ”

"The reason why excellence and bell have survived so hard in recent years is mainly limited by these two conditions, and before a major breakthrough is made in these two issues, it is very difficult for e-commerce to develop and grow, which is what I call the tuyere has not yet arrived. ”

Lei Jun listened and nodded again and again, these things he had considered when he was in business excellence, but after Ren Pingsheng's combing, it sounded more intuitive and logical.

"Why do you say that the wind is coming now?"

Cai Wensheng asked on the side.

Ren Pingsheng stretched out a finger and said:

"Since the direct payment of the treasure network proposed, UnionPay online and other third-party payments have sprung up like mushrooms after a rain, the network payment means have reached the effect of credit cards, and even better in convenience, the payment habits of netizens have also been developed by the treasure network, which has helped other e-commerce operators cut the entry threshold, and the first outlet has been formed. ”

Ren Pingsheng stretched out another finger and said:

"Similarly, while digging treasure network development and growth, it has also promoted the development of the private express delivery industry, especially the four private express delivery companies in Jiangsu and Zhejiang provinces, three links and one reach, through the rapid expansion of small parcels in the treasure network, and now occupies 80% of the domestic market share of small parcel express delivery, and far exceeds the state-owned express logistics enterprises in terms of express price and speed, so that the second outlet has also been formed. ”

Ren Pingsheng gently tapped his two fingers and said:

"When the tuyere has been formed, we must seize the opportunity and increase investment to make the enterprise fly faster. ”

Cai Wensheng asked rhetorically:

"What you said is a good outlet, but why did you choose Jingxi instead of Dangdang?"

Of course, Ren Pingsheng can't say that he was reborn, he had already witnessed Jingxi's success in his previous life, and he patiently analyzed:

"The main product of Dengdang is books and audio-visuals, with an average customer unit price of 10-20 yuan, while the main product of Jingxi is IT accessories, with an average customer unit price of 200-1,000 yuan, which is the biggest difference between the two. ”

"The difference in customer unit price determines the group and consumption psychological orientation of customers. For books and audio-visual with low unit price, customers pay more attention to cost performance when choosing and comparing, and who buys it cheaply, which leads to the low customer retention of dangdang, and the quality of the retained customers is not high. ”

"The high unit price of IT accessories determines that customers can not pay too much attention to cost performance when purchasing, if you buy cheap goods, but the loss is greater, so this kind of customers pay more attention to the brand and quality reputation of the business, once the trust is established, it will be purchased repeatedly, and the customer loyalty that has survived is very high and the quality is also very high. ”

"The main products of the bell are customers who are mainly driven by cost performance, which is actually picking up customers who do not want to dig treasure, this kind of customer can not support a large-scale enterprise, unless the bell expands the product category, it can only be a little brother forever, and the growth is not big. ”

"Although the current size of Jingxi is still small, it has established a good reputation in the field of IT accessories, and the customers of IT accessories are mainly large and medium-sized cities, the middle class with higher education, as long as Jingxi continues to expand the product category while ensuring the quality of sales and reputation, the purchasing power and purchasing habits of these classes are developed, the prospects are immeasurable. ”

With the rapid development of the country's economy, the purchasing power and shopping desire of the middle class will only grow rapidly. ”

Ren Pingsheng's words were eloquent and eloquent, although his optimism about Jingxi was a bit far-fetched, but his logic was very convincing, and it also inspired Lei Jun's enthusiasm to invest in e-commerce again.

The trio unanimously agreed to list BWI Multimedia as the key observation object for the next phase of investment targets, and Ren Pingsheng will be responsible for following up on BWI's investment projects.

For the investment of Jingxi, it is no longer the size of the "Shunwei Angel" fund can afford, Lei Jun decided to raise a second RMB investment fund, raising more than 100 million yuan, the name of this fund is named by Lei Jun "tuyere" fund.

The tuyere has been decided, and the next thing to do depends on how Ren Pingsheng puts Liu Qiangxi on the tuyere.

Liu Qiangxi, who was born in Jiangning,

。 Sogou