"On September 1, the number of registered users of Chujian Wallet was 8.3 million! 90% of them come from Hatsune content providers. Pen Fun Pavilion www.biquge.info"

"Saturday, September 12th. In the first two weeks of school, the number of registered users of Chujian Wallet rose to 14 million! There are 1.2 million original paid members from Hatsune Video. Another 3.1 million people belong to the new membership business after Chuyin Video launched the '1 yuan to enjoy the annual paid membership' discount. The remaining 1.5 million people are from the first batch of Warcraft players who coveted 100 point cards. ”

On September 19, the third week of school, this number rose to 17 million, and the growth rate of wallet users brought by Chuyin Video gradually shrank, because it was all a one-shot deal.

The registration boom from Warcraft and other Hatsune Battle.net client online players continues to attract wallet users at a rate of two to three million per week.

On September 26, 22 million, the increase rose again.

Later, after data analysis from Hatsune, it turned out that the two most popular PC stand-alone game masterpieces in the second half of this year, Call of Duty 6 and Ninja Blade, launched a discounted pre-sale in the last week before the National Day. THEN THE STEAM ENTHUSIASTS WHO WERE ORIGINALLY HESITANT FINALLY STOPPED WAVERING AND JOINED IN THE JOY OF OPENING WALLETS AND ENJOYING DISCOUNTS.

At the end of the 11th Golden Week, all the players who usually don't have much time to play Warcraft have accumulated a total burst of recharge demand - before, almost no players would charge more than three point cards in the game at one time, so the remaining game time they have accumulated is only a hundred hours at most.

People who usually work and study may not spend more than 100 hours of gaming time in a month, so there is no need to rush to make money right away.

However, if you are a player who really plays with your heart, it is impossible to add a long seven-day holiday, and you will not be able to use up the balance time in the number.

More than eighty percent of Warcraft players must charge their point cards at least once during the National Day.

As a result, by October 7, the total number of users of Chujian Wallet had exploded to 32 million.

An electronic payment product has been online for just over 40 days, and it has generated more than 30 million users. This momentum cannot but make peers staggered.

You must know that the gold content of these users can be much higher than that of ordinary game and social product users. Of these more than 30 million people, all of them have at least one real-name bank card!

Ma Huateng's Tenpay has been doing it for nearly 3 years, and it has only 30 million card users so far. Among the people who use QQ, on average, one out of every 15 people spends money to rush Q coins and spend money to play QQ games, so there are at least 2700~28 million of the 30 million card-tied users of Tenpay Tongjia. As for those netizens who simply use the e-commerce platform cooperated by Tengxun to buy physical goods online, there are less than 5 million people in the country so far, and they have been hanging half-dead.

Gu Mojie only took 40 days to complete the road that Ma Huateng had only completed in two or three years in the field of wallets. In one fell swoop, it became the second largest supplier of electronic payment means in China.

350 million users of Hatsune Computer Manager series software, 230 million users of the "First Meeting" social circle, 60 million total paying users of Hatsune Entertainment series of content products. The three-pronged effort to hold the wallet is terrifying.

In the final analysis, the root cause is that although the social users of Fuji Xun's family still exceed the "first meeting" by several percent, the paying users who spend real money in Fuji Xun's family are far less than those who spend money in the Hatsune ecosystem.

As for "Baidu has", which no one has heard of at all, over the years, even 10 million card users have not been made.

In front of Hatsune Wallet, there is only one Alipay with 180 million users.

According to later statistics, by the end of 2009, 45% of the country's netizens had opened Alipay accounts, and more or less formed a certain degree of online shopping habits.

Three-quarters of them have formed the habit of shopping online for both physical goods and virtual items. There are also so many users with low viscosity who always only use online payment methods to recharge various virtual items, and have a certain rejection of physical online shopping.

The water surface of the rivers and lakes was completely stirred.

……

Ma Huateng has always firmly believed that there are no eternal friends and no eternal enemies in this world, only eternal interests.

Gu Mojie's roundabout side attack, in addition to shocking him and making him difficult to resist, also made him see a glimmer of hope for uniting new allies.

Perhaps, the era of "two horses fighting for the groove" should have passed? In the future, it should be the era of the two horses joining forces to fight against Hatsune?

Ma Feng, that guy, won't watch Alipay's country be eaten by Hatsune's wallet, right?

When he thought about it like this, Ma Huateng seemed to have forgotten that he himself also made Tenpay, and the scale of Tenpay was not smaller than today's Hatsune wallet. It's just that it took Tenpay three years to grow to this size, and Hatsune Wallet only took a month and a half.

But in any case, Ma Huateng decided not to let go of this counterattack angle.

He convened decision-makers in the areas of corporate finance and public relations for an urgent meeting to discuss the possibility of contacting new allies.

Because it was a business strategy issue, not a technical issue, Zhang Zhidong, his most trusted old partner and CTO, did not attend the meeting. Among the technical talents, only Zhang Xiaolong of WeChat participated.

Ma Huateng had a faint foreboding in his heart: if the alliance with Ma Feng could not be realized, then Teng Xun could only take the next step, follow up with the leading duo, and be his own "WeChat wallet".

Zhang Xiaolong must be involved in the discussion of this issue.

At the beginning of the meeting, it was first necessary to make everyone aware of the gravity of the current situation. So the first person to be arranged by Ma Huateng to speak was Yu Dawei, director of the marketing and public relations department.

Yu Dawei's explanation was very crisp and neat, and the threat was brought out in a few sentences.

"It took a month and a half for Chujian Wallet to grow to 32 million users. According to our research, the subsidy expenditure of the Hatsune Group in this process reached 1.9 billion.

According to the current trend, the growth rate of users who have seen the wallet has slowed down significantly, but the rate of adding two or three million new people per week can still be maintained for a considerable period of time.

It is expected that by the end of the year, 80%~90% of all paying users in the Hatsune ecosystem can be converted into users of Hatsumi Wallet. At that time, the total number of card users of Hatsumi Wallet will reach 5000~60 million, and then Hatsune's platform advantage will gradually be exhausted and enter a state of short-term competition with other peers.

And in this process, if the subsidy in Hatsune remains unchanged, then they will drop a total of more than 2 billion subsidies in the next three months. It is equivalent to Gu Mojie using a net loss of 4 billion yuan, which forcibly accelerated the conversion process of these 60 million potential card-tied users. The 'cost per capita' is around 70 RMB. ”

70 yuan "per capita customer acquisition cost", is it worth it?

If you just buy others to follow a WeChat public account, 70 yuan is not necessarily worth it. (There are also valuable cases)

However, if you buy a user real-name bank card, it is too worthwhile.

Ten years ago, Peter Thiel raised $20 million to subsidize the first 2 million users of PayPal. Then before the dot-com bubble burst that year, those 2 million users were valued at more than $500 million.

Taking into account the economic growth of the United States over the years, inflation. Now in the United States, an electronic payment account with a real-name credit card is valued at $300 in the capital market; Converted into RMB, more than 2,000 yuan.

Chinese are not as expensive as Americans, perhaps less than half. However, after years of capital games, a consensus has basically been formed: the additional market value brought by "adding a new card-bound user to each payment instrument" is about seven or eight hundred yuan.

For example, although Ahri Group has not been listed for a long time, everyone knows that according to the conventional algorithm of the capital market, Alipay has 180 million users, and these 180 million cards alone can support the market value of more than 100 billion yuan for Alipay.

(Note: Historically, when Ma Feng listed Ahri on the NASDAQ in 2014, he did not list Alipay as well.) Alipay has always been a company in which Ma Feng personally holds more than half of the shares. Therefore, the company with a market value of $230 billion after listing is only the market value of Ahri Baba, excluding Alipay.

Some people think that because of the fluctuation of stock prices, Ma Huateng's personal wealth surpassed Ma Feng, which is just speculation by people who do not understand the capital market. As long as Ma Feng is willing to let Alipay also go public, it is easy to have a valuation premium of several times, and the total market value of his equity in hand will not have a problem at all. It's just that there is no point in giving up real benefits and competing for the false name of China's richest man. ）

……

"70 yuan customer acquisition cost! It's a great deal! Why don't we have this opportunity! Ma Huateng couldn't help but mutter.

In the face of complaints, marketing director Yu Dawei can only excuse himself like this:

"This success cannot be replicated or sustained. Gu Mojie didn't create so many users out of thin air, he just accelerated the people who had gradually precipitated over the years and had developed to spend money on Hatsune's virtual goods, and tied them to the station of Hatsune's wallet. Therefore, after the historical user has digested it, his user growth will stop. ”

It's like in a nightclub, an ugly man with no connotation, directly shoots 2,000 yuan on the table, and takes a girl back for the night, of course you can say that this person's drift is 2,000 yuan.

But a man who was already gentle and handsome and literary chatted happily with a girl, and finally spent a hundred yuan to invite the girl to drink two glasses of wine, and then brought it back. At this time, it must not be said that this girl is worth only two glasses of wine.

People have secretly agreed, half-pushed, half-pushed. Two glasses of wine are just wine as a color medium.

The cost of acquiring a customer for 70 yuan is only the price of pushing half a hand, not the price of directly catching a new customer on the road.

Ma Huateng was silent for a long time.

"I want to know, is it possible for Gu Mojie to come up with more subsidy tricks, and how much money he still has to play this kind of subsidy promotion with us!"

Yu Dawei shrank his head happily.

This problem should be a headache for CFO Luo Shuohan.

Everyone's eyes were focused on Luo Shuohan. (To be continued.) )