After listening to the report of the school intranet, Jiang Hui shared some of his thoughts on the future development of the school intranet with Tang Wenwen. As for the recent fact that various companies have been receiving venture capital hope to invest, Jiang Hui also asked Tang Wenwen to contact and talk about it first.

With the development of the school's intranet to the current scale, there is no way for the Korn Glory Group to throw money into it for the time being, and it will be more worthwhile for the Korn Glory Games to invest hundreds of millions of dollars in other companies every month. As for the intranet, after all, the current valuation is 78 billion, or even higher, and it is not impossible to go to 10 billion, and the money obtained from financing should be enough for the intranet to be used until the end of 2005.

The school intranet now has 50 million users, and it already has the ability to expand its advertising business, so it should not be necessary to give him too much blood transfusion. Of course, if you have more money, it will definitely not hurt the development of the company.

After dealing with the affairs of the school intranet, Jiang Hui then went to Meituan. Zhou Benqiang, the general manager of Meituan, was recommended by IDG Capital, but Jiang Hui felt that his performance was good, so he promoted him from deputy general manager to general manager.

Meituan's current development is mainly concentrated in the three markets of the Celestial Empire, the United States and the island nation, and each market adopts a different strategy.

As the headquarters, the human resource cost of the Celestial Empire is also relatively low, so it adopts the method of casting a wide net, recruiting a large number of ground promotion personnel, enriching various group buying businesses, and enhancing the attractiveness of the website. At present, it is already the largest group buying company in the Celestial Empire, and the following websites together cannot match half of Meituan's share.

Meituan's U.S. branch has taken a very different approach to development. On the one hand, it is difficult to recruit a large number of suitable personnel because of the unfamiliar place, and on the other hand, because the labor cost in the United States is too high, and the salary of an American employee can be hired five or six or even more people in the Celestial Empire. At the same time, Jiang Hui also borrowed from the development model of Groupon, the world's first group buying website in the previous life, and only launched one group purchase project per day in the United States, but the discount given was very low, sometimes even up to three or four discounts.

The approach taken by Meituan's island country branch is between the Celestial Empire and the United States. A number of items such as food and beauty will be launched every day, so that consumers have several choices.

"Jiang Dong, then we started to report?", Zhou Benqiang asked.

"Let's get started," Jiang Hui said, sitting in the main seat of the conference room.

"Okay. Then let me start with the situation at the Celestial Empire headquarters. Meituan now has 12 offices in the Celestial Empire, including Wuyang, Qingcheng and Shanghai, basically covering major metropolitan agglomerations. Now the daily domestic turnover has reached more than 15 million, which is close to reaching the break-even point. At present, there are group buying companies in China such as our group network and a group, but the market share likes me about 15 percent, and the remaining 85 percent is Meituan.com," Zhou Benqiang said.

There is no myth of Groupon to stimulate everyone now, so although Meituan's development is rapid and its valuation has risen a lot, although there are websites that follow the trend, they are far less intense than the battle of thousands of regiments in the previous life.

"The rise and fall of group buying sites is very fast, and you can't take it lightly. Once other companies get strong support from capital, the speed of development will be very fast, you have to keep a keen sense of the market and adjust your strategy at any time," Jiang Hui said.

In the previous life, in order to compete for the domestic group buying market, various group buying websites began to compete in disguise. Handle, Meituan, Wowotuan, 24 Volumes, Full Seat Group, Gaopeng.com and other well-known domestic group buying websites have carried out round after round of financing competitions, and overwhelming advertisements such as advertising wars, tug-of-wars, and positional battles have been integrated into the daily lives of major people.

The excessively low entry threshold has undoubtedly accelerated the development of the group buying industry, but at the same time, it has also inevitably caused vicious competition and rapid reshuffle in this industry. Initially, group buying websites required a large number of salespeople to educate merchants about group buying, and before long, almost every merchant received salespeople from several or dozens of group buying websites. Merchants quickly reversed their position by promoting their websites, and began to weigh which group buying site was more beneficial to them to work with, and some group buying websites had to lower their bottom line again and again in order to compete for customers.

In this kind of game, both sides must ensure their profit margins, so consumers have become the ultimate payers in this profit competition. However, consumers who are dissatisfied with the single consumption experience are likely to stop buying the group purchase model from now on.

Fortunately, Meituan is the dominant market now, and many consumers have become accustomed to going to Meituan for group buying. Meituan also uses various measures such as quality monitoring and service monitoring to improve the performance of consumers' experience as much as possible.

"Okay, we'll ask the marketing department to collect more information and pay more attention to other group buying websites," Zhou Benqiang said.

"Let's move on to the rest," Jiang Hui said.

"Then let's take a look at the U.S. branch. Currently, we have three locations across the United States, with a total of more than 6 million registered users, and an average daily turnover of about $1 million. In the next step, we plan to increase the promotion of our US branch so that more Americans know about our company," Zhou Benqiang said.

"As for the island country branch, there are currently more than 5 million users, and there is also a daily turnover of 4 to 5 million yuan. However, we always feel that the development momentum of the island countries is not as good as that of the Celestial Empire and the United States, and there are many consumers who are very stubborn and only go to the stores they are familiar with, and they seem to have little interest in group buying," Zhou Benqiang said.

There are many time-honored restaurants in the island country, which may not be well-known, but they may have a history of fifty or sixty or even hundreds of years, and have accumulated a lot of regular customers from father to son and son to grandson. This kind of store has little interest in online promotion, and their customers are relatively fixed.

"Try as many ways as possible, and at the same time, Meituan is also considering expanding its business in South Korea, Baodao and other regions as soon as possible. Expand the company's size first so that we can increase our valuation and prepare for the next round of financing," Jiang said.

"Okay, we're going to expand our business right away and capture the markets in each region before the followers rise," Zhou said.

The Internet market is often one step ahead, step by step. Of course, there are many people who are not angry and are overtaken by others. Meituan is the company that Jianghui most hopes to go public first, relatively speaking, it does not have much core competitiveness, and mainly relies on leading innovation models to occupy the market.