Electric business capital lose weight and gamble "socialization"

Big Park won the first million dollar investment Ding Hui, jingdong Mall to complete the 700 million-dollar D-round financing, dream Bazaar complete D round 55 million U.S. dollars of financing ... From January until now, the field of electronic business financing frequently. Iban Power sources said that the 2013-year first quarter of a total of 62 financing, and according to investment in China and many other industry websites, open to find the number of electric dealers financing also have more than 10.

Electric Business Capital Slimming

Obviously, the electric business is still one of the hottest investment trades, and the social electric quotient, the food class electricity merchant became this round investment tide's favor standard, for instance the meter folds the net, the pocket shopping, the Qi drinks net and so on all obtained the investment, they are the new bright spot which this year starts.

The entrance guide continues to hold the gold

The start of this year, E-commerce industry seems to have warmer trend. However, in the electric business industry, the direction of financing also has a new trend, one of which is the social electric dealers are sought after.

For example, from the mobile end of the social electric business shopping mall shopping company to complete the second round of financing news, it was last April, received 12 million U.S. dollars of financing, to "save money" mainly hit the shopping guide rebate website meter folding nets, get ID g of a round of investment.

In essence, the social power provider is the use of community, micro-bo, SN s and other social platforms, through social interaction and other means to promote the purchase and sale of goods, is the import-oriented shopping guide. It not only for the user information screening more accurate, but also conducive to the accurate promotion of goods. Over the past few years, the venture has been favor to social power providers. Beautiful say, Mushroom street, watercress, mother said, petal nets and so on social electric quotient, all obtained the investment.

"This year, the big environment of the electric business is worth looking forward to, which leads to the linkage effect of the electronic business shopping." "Just led a social shopping case investors T Om told the south are reporters, before the E-commerce has been due to excessive" burning money "and into the downturn, investors tend to rational, in E-commerce, the relatively conservative shot, but this year seems to have a good start. Take February as an example, the capital of Beijing and East released a positive signal, plus every guest, the domestic online and so on, have publicly announced that this year to achieve profit, the momentum is good.

"If the electric business chain, Jingdong, Fank and other large and small electric dealers are gold miners, they play ads, do promotions, sales demand is constantly expanding but it is difficult to self-sufficiency." Then, around these needs, the ' sell water ' business is quietly emerging, social shopping for the electric business is one of them. "T Om said, the Electronic business site access to new users more and more expensive, portal-type Web site, electric business marketing has become an effective clue upstream," no doubt this is a correct direction.

In the eyes of GGV Capital partner Jixun, the social electric quotient "reason is very simple", it is around the content and the core, help the user to find the necessary goods, has the value.

"The entire service chain of the electric dealer has two pieces, one is the operation, the other is to do the content." "He said to the South reporters, the former has Jingdong, Taobao, only product will, and so on, the ability to spell operations, from warehousing, logistics distribution to after-sales service; the latter is the social power provider, is the community-oriented shopping guide, through the user, or some of the user U G C site to provide content itself, the content itself is interactive Let users better find the products and services needed. "The two pieces are different and have value. ”

Shopping model to provoke controversy

As for the social electric quotient, from its birth until now, its model whether can make the argument that the debate has been endless. For example, the model of social electric business beauty said, Mushroom Street, although some of their traffic is imported to other B 2C sites, but at present, the dependence on Taobao is still very high. Too much reliance on Taobao, become its criticism of the place.

In addition, in an internal meeting last May, MA also clearly pointed out that do not support the upstream shopping site to continue to grow bigger, and do not support the return of the site, to tighten the flow of Taobao entry.

"Should look like this, Taobao in the field of electricity accounted for about 80% of the largest share, it is one of the most Open data platform, the largest volume, so the shopping platform and cooperation with it is natural." "Investors T Om said, now everyone in the open up outside Taobao partners, such as B 2C Mall and so on." He thinks, in fact, regardless of Taobao to guide the restrictions or not, the significance is small, because the fact is, Shopping guide rebate does enhance the purchasing power, the user's conversion rate is high, this is the value. "Imagine if there is no beautiful said, Mushroom Street, such as shopping guide platform, user channel Taobao conversion rate is not so high." ”

In the interview, including the Rice folding net founder Zhang Lianglun, Pocket shopping c E o Wang all introduced, they have docked Taobao outside of the electric business platform, for is to minimize its dependence.

In addition, the social power quotient of the profit model also has the voice of doubt, because the main source of income is also the commodity Shopping guide turnover Rebate Commission, many people think that the rebate model is not long, do not long.

Jinsha Venture partner Zhu Yuhu the rebate model, said: "Not very optimistic." ”

"Rebate is certainly not done, you attract customers are not growth-oriented customers, but rebate-oriented customers." Rebate is a lucrative business, but it's not very big. "He told reporters in the south, even in the United States, the rebate model is difficult to see large enterprises appear." At the same time, he does not deny that the shopping guide does have market demand. "Shopping guide itself is to have this demand, you buy things in the real life, you will often ask around friends good, not fit, very meet the needs of people." "But he thinks the social electric business Shopping guide How to do, is the more crucial question, in the end is beautiful said, Mushroom Street or Sina Weibo and other models more suitable, need to explore."

In addition, he pointed out that in the beauty of the street as the representative of the social electric dealers, now the most fatal problem is not and the fashion of people divided into, "such a talent is certainly not motivated." "Even if the media can be biased advertising revenue, but it attracts ads behind, or by the fashion of people gathered to the user, the role of fashion is like" editing ", light on enthusiasm does not long.

Of course, there are investors who have different views.

"Social Power is a light company, no big business."

GGV Capital Partner Jixun

Jinsha Venture partner Zhu Yuhu

"is rebate a long-term business?" I think the next 5-10 years, Shopping guide rebate has the value of survival. "Investor Tom said that, for example, Jingdong Mall has said that not with the rebate site cooperation, and then soon, it began to work with the return of the net cooperation." This shows that the merchant on the rebate network has the demand, the default this mode, users have a demand for it. As long as the market to return to the shopping guide has the demand, it has the value and the growth space.

Jixun also believes that social power providers have greater room for growth.

"To beautiful said for example, it is in addition to Taobao with the flow, in fact, other partners such as Jingdong, Tencent patted the pace of growth are very fast." In addition, it's more valuable on the phone side. "He said, to the beauty of the representative of the social electric power once in the mobile phone, can imagine that the future is not only to the line with flow, but also to the line with the possibility of flow, do O2O." For example, in a business district, users sit down to have a cup of coffee, may be in the browsing of the mobile phone, was taken to a shop, see the right clothes to complete the purchase. "O2O in the phone terminal like beautiful say such app, also can realize, its imagination space is much larger than Taobao with flow." ”

Vertical non-standard to "beautiful say"

Although the model is disputed, but from the commercial point of view, Mushroom Street is undoubtedly successful. Mushroom Street founder Chen, for example, said last year that Mushroom Street was expected to bring 3 billion turnover to Taobao last year, while Mushroom Street would be divided into 70 million.

Moreover, in terms of category, the social electric quotient is currently more female fashion category, so other industries can appear their own "beautiful say", became a big suspense.

Investors disagree.

"I feel less likely. In fact, Mushroom street and so on itself is not a good business model. "Zhu Yuhu said, social electric business roots Taobao, female fashion, is indeed now socialized shopping for the status quo, but in addition to fashion, offline category, may be cars, real estate is relatively large category, the real big category is not much." "In the Internet 1.0 era, who made the vertical type of Web site very large?" Not much, real estate, finance, automobiles, fashion and health are doing relatively large. "In the 2.0 era, these areas can still be explored," he said.

The investor T Om thinks there are two criteria for determining whether it can be done. In particular, the first is that the industry should be big enough, the second is non-standard goods, standardized things users can make their own judgments. ”

However, Jixun that other areas may appear to have their own beauty to say. "Around food, food is also a very big market, as well as home furnishings, homes and so on, are good areas." "He's a very hot web site in the U.S.," he says. This is also a community site that, in a way, leads users to buy goods. "In fact, the community itself is a trend, and relatively vertical, its content is more easily focused, users more easily absorbed, what they need, suitable for what." "He said, so it won't be a too platform thing, more of a vertical content."

Food Electricity quotient Risk

In this year's disclosure of the case of the electric business investment, there is also a focus on the bright spot, the vertical market to gain attention, such as textile electric Business network, liquor dealers still wine, flowers, electric business R oseonly have financing. Among them, the food electric dealer is a bright spot.

"We have invested in the bean net, which is community-centered and currently revolves around recipes, and the long-term goal is to focus on food," he said. However, the food dealers, we did not vote, may not be very likely to vote. Jixun said that the food and electricity dealers need a lot of capital support. In addition, the entire supply chain, including food safety, timeliness is a challenge. But it is also because of these problems that it is a professional field. I also can not imagine Jingdong food, inventory period problem is not the General Electric business can effectively solve, so there will be an independent vertical opportunity to come out. "He said that it needs a lot of input, it is valuable to do, there is market demand, which is why it attracts a part of investors to enter."

and investment cake electric Shangno Heart cake Zhu Yuhu think, do food electricity quotient, entrepreneur should consider three points, one market is big enough, second is the customer unit price is high, three is gross margin.

In addition to the category highlights, this year, there is a concern about the investment in electricity business, single financing seems to be small, in addition to the Beijing-East won the largest single investment of 700 million U.S. dollars. Investment group announced the financing data show that the network first obtained 3 million U.S. dollars angel investment, after the Ding Hui capital of 30 million yuan, meter folding net to obtain IDG 5 million U.S. dollars investment, single financing in tens of millions of of a lot. According to China's E-commerce Research Center monitoring data show that in the third quarter of 2012, E-commerce Enterprises in the single investment, the amount of single investment in the 100 million yuan to 500 million yuan in this range. In this way, the amount of public financing this year has indeed shrunk.

In Zhu Yuhu's view, this is not surprising. "There are basically big projects in the field of electrical business that have been voted out and there is no big chance." "He said that some of the models come out this year, the investment community is not particularly bullish, most of the mainstream organizations have not how to vote, now there is no good electricity business opportunities, investment amount must go down."

Jixun is very interesting to see the small amount of social electric quotient financing, "the social electric quotient is ' Light Company ', the capital use efficiency is high, originally need not big money." ”

He said that the main operators to do business, from the acquisition capacity, supply chain shipments of inventory, to services, the trend to a great investment. However, the social power of the operators of high efficiency, there is no so-called inventory, no own products, but to guide users to some of the electrical business to buy things, do not sell things, the overall capital efficiency is much higher, do not need a lot of money to do business. "This is one of the most important reasons why investment is not too big, that is, the efficiency of capital is much higher than that of the so-called retail-type electricity dealers." ”

"Ali Department" of Huangpu Military Academy

Social electric dealers Now more around the big tree Taobao, and explore the background of the founder of Social power, most of them and Taobao or Ali has countless ties, many born "Ali department."

One of the most representative of the Mushroom Street founder Chen. He was born in Taobao, Taobao work to see the community and E-commerce combined with the huge market space. When he resigned, the founder of Taobao Shopping guide for women to buy Mushroom Street community. Today, Mushroom Street is one of the biggest Taobao guests.

"Stroll" mining is also a social shopping guide field, because the type of goods and a very rich amount of Taobao, has become consumers to choose more and more difficult place, "stroll" to solve this problem. Its founder White Jay has been in Alipay as chief product designer, and with him to start a business, as well as Alipay original user division general manager of the Chan Zhirong.

The Zhang Lianglun of the meter fold net also comes from Ali, before becoming the CEO of the net, he was the head of Alibaba Wang Pu product line. Although the Pocket shopper CEO Wang himself is not Ali origin, but he said that the entrepreneurial team by a group of Baidu, Tencent, Taobao and Sina Weibo engineers and product designers, also have the elements of the Ali system.

Wind pitching to right touch

This issue champion

GGV Capital Partner Jixun VS Jinsha Venture partner Zhu Yuhu

Whether social electric business can grow up

Square：

Jixun: "To beautiful said as the representative of the social electric power, once in the mobile phone end, can imagine that the future is not only to the line with flow, but also to the line with the possibility of flow, can do O2O." ”

Negative：

Zhu Yuhu: "To Beautiful said, Mushroom Street as the representative of the Social electric power quotient, now the most fatal problem is not and fashion up to people, the role of fashion is like ' editing ', light on enthusiasm dry not long." ”

Can other industries show their own "beauty"

Square：

Jixun: "Other areas may appear their own beauty said, around food, food, home furnishings, homes and so on, are good areas." ”

Negative：

Zhu Yuhu: "I feel the possibility is relatively small, in fact, Mushroom street and so on itself is not a good business model." ”

Comment on the risk of food electric business

Square：

Zhu Yuhu: "Do the food electricity quotient, the entrepreneur must consider three points, one is the market big enough, second is the customer unit price is high, three is the gross margin is high." ”

Negative：

Jixun: "Food dealers need a lot of capital support, in addition to the entire supply chain, including food safety, timeliness are challenges." ”

(Responsible editor: Lu Guang)