News that the electricity business Yao Point 100 will be dissolved: CEO run to burn money 300 million

Investment sector April 20 news, today, a micro-Bo said that the department of Consumer Electronics business Yao Point 100 face bankruptcy, management team will be dissolved in May, the general staff has not been paid for several months, "the owner of Wu surname and Gong surname boss has been hiding back to Taiwan."

In April of this year, Shangxiang, vice president of Huaqiang North, had a message about 100 employees. This is from Yao Point 100 of the internal real information, the current internal staff senior executives, has not been paid for more than 3 months, the average staff has been 2 months without pay, the owner of the boss Wu surname and the boss of Gong's surname has been hiding back to Taiwan. And in March, the Southern Metropolis Daily also reported that Yao Point 100 bankruptcy seeking buyers, Yao Point 100 responsible for business process Development Zhang surname responsible for verification, the other side did not deny the matter.

Yao Point 100 was founded in 2009 by Six Degrees Trading (Shanghai) Co., Ltd. is fully responsible for operations management, positioning in the "fashion department store." September 2011, Yao Point 100 claimed to have millions of registered members throughout the country, one-day orders have exceeded 30,000 single, monthly sales amounted to tens of millions of yuan.

2010, Yao Point 100 access to Qiming venture, Baidu Company and well-known fashion brand Daphne investment. In August 2011, it received a Tens capital injection from Intel investment, when COO Zhang said the injection will be used to improve logistics and other aspects, but also promised that the future will be listed refinancing and other ways to expand the enterprise.

People close to the situation said the 100 point has been operating hard since last October. Taobao Entrepreneurial Laboratory director Mao Zhibin Weibo revealed that the Intel 10 million investment is actually not in place, the company said 2011 sales more than 100 million, the actual figure is only 50 million, "and the purchase cost is as high as 60 million, there are market costs 50 million, technology costs 30 million." In less than two years burned the investor's 300 million, net worth is negative more than 30 million. "Analysis of the industry," one is its positioning is not allowed, they inject a lot of cultural elements for the brand, put a large number of ads, but the domestic consumer is still to recognize the price, followed by the customer price is too low, each price only 100, the new customer cost is very high. ”

Since the beginning of 2012 to reduce the cost of electric companies, Chen, vice president of the Amoy network, said in April this year, the company has stopped all advertising, Jiapin network also reduced the advertising budget, while the Massamasso employees of the company made a pay cut. Layoffs are rolling in the tide, the cotton network, Shang nets, good music to buy, walking show network has been burst into thin manpower. Luxury Web sites, NetEase still goods are the industry martyrs. Rather, Rakuten, Japan's E-commerce website, said today that it would close the cool days of its Chinese web site at the end of May this year.