In 2005, in the field of e-commerce, the most prosperous was Alibaba.

After three years of "war of resistance", Alibaba finally won the key C2C battle with the global e-commerce giant Ebay in the Chinese market, and with this brilliant record, it launched a strategic cooperation with Yahoo.

The "packaged" acquisition of all of Yahoo's China assets and received a $1 billion investment, which is the largest Chinese Internet acquisition to date.

You must know that last year, Fengxing raided and acquired Tencent, which had just been listed, and the ups and downs of the acquisition and anti-takeover wars were fought, and the amount of mergers and acquisitions involved was only more than 6 billion Hong Kong dollars.

At the beginning of this year, another M&A case that shook the domestic Internet industry, Shanda's acquisition of Sina, was also thrilling, and finally because Sina's board of directors sacrificed the "poison pill plan", Shanda's acquisition failed and the ending was not very good. Shanda spent only $230 million on the acquisition.

If it is said that in the hustle and bustle of 2005, the two most beautiful people in China's Internet industry are naturally Ma Yun and Robin Li.

And Robin Li is because Baidu's stock price has soared five times after its listing, which is almost difficult to see in the capital market, reflecting Baidu's popularity in the capital market and has a strong symbolic significance.

It can be said that the NASDAQ has created a "golden body" for Robin Li.

Jack Ma is because of the feat of beating the giant Ebay and the huge merger and acquisition with Yahoo.

For a time, the traditional Internet giants: the popular Lin Feng, the grand Chen Tianqiao, and the Ding Sanshi of NetEase, the old IT richest man, seemed to be overshadowed by the dazzling light of these two people.

With Taobao, Alibaba has successfully transformed from a B2B to a C2C market, becoming a leader in both e-commerce markets in China.

The most difficult and bitter B2C market is still a toss between Amazon and Dangdang.

In the early days of the Internet era, B2C once carried the banner of e-commerce alone, making Chinese people realize that the Internet can also carry out e-commerce. However, in the face of the strength of B2B and the hustle and bustle of C2C, the B2C market appeared relatively calm in 2005, which is known as the "year of e-commerce".

Limited by the operation mode and profit model of China's B2C e-commerce, the B2C market at this time is entering an era of serious homogeneous competition. Tragic prices are a major problem for B2C e-commerce.

The vast majority of netizens choose to buy things on Dangdang and Excellence, and the reason is "cheap and convenient".

And for this evaluation, Dangdang and Excellence also paid a great price, and the price war intensified.

Especially after Excellence was acquired by Amazon, it gave up the high-end boutique route and copied the Amazon model to implement a "large and complete" sales strategy like Dangdang, and the competition between the two seemed to be only a price war.

However, in a market that is not very mature, the price war has completely broken the market balance, and the simple price competition has brought short-term prosperity to the market, but it cannot get rid of the situation of continuous losses. Although Excellence and Dangdang claim to have no losses, they are still a long way from making a profit.

At this time, no one noticed that in an inconspicuous office building in Zhongguancun, a B2C e-commerce website called "Jingdong Multimedia Network" was quietly surviving and growing.

From the SARS period in 03, the counter of the Zhongguancun computer market was transferred to the online sales of electronic products by Jingdong Company, which has been operating for almost 2 years.

From the initial offline familiar customer word of mouth, to now, "Jingdong Multimedia Network" has stabilized at an average daily order of 500 orders.

Although this is still a small company, it is already very exciting for Liu Qiangdong, the founder of JD.com, to reach a turnover of 30 million a year from online sales.

After all, after he closed the offline chain store, he saved costs including store rent, water and electricity, depreciation of displays, etc., and did not need a large number of sales staff.

In Liu Qiangdong's words: "As long as the cost is low, there is nothing to be afraid of, and no matter how you fight, you will not be defeated." ”

At this time, JD.com was still an inconspicuous newcomer in the B2C market, and the most famous in the e-commerce of IT products at that time was Newegg.com.

In 2005, Newegg's global sales were $1.3 billion, while JD.com's was only $30 million.

However, in the IT circle of Zhongguancun, Liu Qiangdong's JD.com already has a certain reputation.

In this year, the investors of Xiaoxiong Online wanted to buy JD.com at a price of 18 million yuan, although Liu Qiangdong hesitated and refused, but it can be seen that JD.com has begun to have a certain influence in the market.

But at this time, everything is very primitive, all links are very rough, it takes ten days and half a month to send a package, and the customer is impatient to wait, and he always loses goods. At that time, China's "last mile" delivery service was very poor, and most of the distribution stations were franchised stores, and the service quality was very unstable.

JD Multimedia's warehouse management has no system, no shelf number, no scanning code, and it all depends on the packer to remember the location of the goods to pick up the goods by their brains. Employees who first started out as warehouse managers had to spend nearly a week getting to know more than 300 products and mapping them to each location.

But in such a difficult environment, JD.com has cultivated a group of loyal, diligent, passionate and combative company talents. "The office is rented, the goods in the warehouse are someone else's, there is an account period, and the only thing JD relies on is this group of people."

For JD.com,It's still in a dormant period,Even Liu Qiangdong himself,I don't dare to imagine what scale JD.com will develop into in the future,Many times he even feels that JD.com may go out of business at any time because it can't hold on......。

In this case, the appearance of Zhao Yihua, general manager of the investment and M&A department of Fengxing, is particularly eye-catching.

"You mean, Fengxing wants to invest in JD.com?" In the cramped office, Liu Qiangdong asked in surprise.

Zhao Yihua nodded: "Yes, Mr. Liu, and it is the instruction of our big boss Mr. Lin personally." To be honest, I'm a little ashamed, I've never heard of JD Multimedia before, and I don't know about your e-commerce site. I didn't expect that our Mr. Lin was more well-informed than me, who specializes in investment. ”

Although Liu Qiangdong was not very familiar with the Internet circle before, Lin Feng had heard of it.

This is the richest man in China, and he is often a big man who makes headlines in major domestic media news.

"Mr. Liu, I don't know if you are interested in Fengxing's shareholding?" Zhao Yihua asked.

"This ......, I need to think about it." Liu Qiangdong hesitated for a moment and said.

The news came too suddenly, and he needed to think carefully about the pros and cons. Of course, judging from the current situation of JD.com, the financial pressure is still relatively large, and it would be a good thing if there was investment at that time.

But Liu Qiangdong is a very controlling person, and he needs to analyze how much money is needed to ensure the development of JD.com's next part, and how many shares he needs to give up to ensure his absolute control over the company.