Reborn Entrepreneurial Giant.

Chapter 214 Jumei CEO

Qu Li returned to Jumei in Yangcheng and once again felt the chill brought about by the subprime mortgage crisis. It was not that the company was panicked, but that there were too many outsiders. Many entities in Guangdong Province regarded Taobao and Jumei as life-saving straws, while Jumei Beauty is around me and easy to talk to, so everyone comes to visit.

"It's pretty good now. There were more people when you were away. We have diverted a lot of traffic now. The service company is too busy and has come here again." Qu Li in the conference room understood the situation

"Are there a lot of complaints in the company?"

“There were definitely complaints, but mostly they were understanding and there was a greater burst of positivity.”

"That's good. It's understandable to complain at this time, but frequent complaints will affect the team. If these people are marginalized, they should be fired directly..." Qu Li looked at Xu Xiaoqin. This is the responsibility of human resources.

"Okay, I will pay attention." Xu Xiaoqin

Jumei’s financial report has not been released. This year’s sales have increased significantly compared with last year’s US$13 million, reaching US$[-] billion, of which third-party sellers accounted for more than half of the revenue.

"The loss in fiscal year 2008 was about 10 billion..."

The more you sell, the more you lose. More detailed financial reports are separate for Jumei, Juhuasuan, Shopee, Riyue Fenghua, Jumei Logistics and Juyun Technology.Except for Juyun Technology, everyone has income.This is not the most critical thing. Jumei's net profit, including free cash flow, is negative. It looks like it will go bankrupt, but it clearly has a lot of money in its account.

"If the development speed of e-commerce is not as fast as expected..."

"We at least have enough sellers."

Jumei did not announce its 2008 annual financial report, just waiting for Qu Li to come back to discuss it, but he didn't understand this either. Was he going to be scolded by investors behind closed doors?

After carefully looking at the financial report, Shopee's gross profit margin exceeds 30%, which has earned it a reputation in the United States for high quality and low prices. Jumei's is about 25%, Juhuasuan's is less than 20%, and Sun and Moon Fenghua's self-operated categories have always been profitable. However, because Xiangyun increased marketing and promotion fees, inventory and returns increased, the growth of net profit was limited.

Yes, the better the return and after-sales service, the higher the return rate of clothing categories. Ten years later, many e-commerce merchants complained online that the return rate of clothing was as high as 30%. It may not be accurate, but it may represent the real living conditions of some sellers.Xiangyun Danlin's return and exchange rate was almost negligible at the beginning, but now it is obvious that it must be taken seriously.

Doing the math, Jumei's gross profit is US$3 million. The main losses come from: losses from the acquisition of Goudong's consolidated financial statements, investment in logistics and information infrastructure, and Juyun Technology.

"Let's take a look at this plan first, and then discuss it." Qu Li took out the plan that he and Lu Qi had discussed for a long time. As a person who can grow up to executive vice president at Yahoo and join Microsoft this year and become global vice president, it can be seen that this person The ability to manage and deal with complex problems is outstanding.As for what happened later in Baidu, let’s not talk about it.

Lu Qi was originally planning to resign and return to China to start a business. In addition to Qu Li's invitation, Microsoft's Ballmer also personally came forward, which shows Lu Qi's status in Silicon Valley.Joining Microsoft will lead to higher income and social status, but Lu Qi chooses Jumei. It cannot but be said that the protagonist always enjoys cheating.

Luqi's plan or strategic plan recognized the significance of the existence of Juyun Technology, and believed that Sun and Moon Fenghua and Jumei Logistics were the key points that needed to be changed.Although scratching the surface may not hit the mark, but it can solve the problem.

This meeting was the core of Jumei. In addition to Qu Li, Lin Bing, Chen Danlin, Wang Yunliang, Xu Xiaoqin, and Tan Lijun also participated. Qu Li did not have many scruples.

"Jumei's situation is becoming more and more complicated. Foreign revenue accounts for one-third of the total revenue. This should be unique among domestic Internet companies, right? How to manage a multinational company? I don't think everyone here has experience. They all need to learn.”

"So I am going to find a capable person to take over as CEO for Jumei and be responsible for the specific operations of the company." As soon as Qu Li said this, everyone was surprised. Lin Bing and Chen Danlin are both major shareholders.

"This does not mean that I will quit the management of Jumei. In fact, except for the change in position, there will be many fewer people asking me to sign, and there will be no other changes. As for why it is not Lin Bing and Chen Danlin, it is definitely not because we have conflicts, let alone rights. struggle."

"My favorite candidate is Yahoo CEO Lu Qi. After Yang Zhiyuan resigned from the position of Yahoo CEO, Lu Qi also resigned..."

"Lu Qi joined Yahoo in 98 and was responsible for the search business..."

"At the same time that I invited him, Microsoft Ballmer also personally invited him to serve as Microsoft's executive vice president, responsible for Bing search."

"That's the specific situation. Let's see if it's necessary to invite him to Jumei for a meeting. Just because I'm satisfied doesn't mean it's a good fit..." Qu Li said for a long time.

"I know Lu Qi..." Lin Bing came out to support Qu Li's choice. The two had communicated before. International experience is very important to Jumei. It can strengthen investor confidence, otherwise it will only beautify the financial situation. Reported.

Chen Danlin also knew that it was impossible for her to take over as CEO. She was not as good at cheating as Qu Li. Neither the company nor the investors would choose her, let alone anyone else.

"My positioning of Jumei is a technology company based on the supply chain, but improving supply chain capabilities is obviously not something that can be done in a short time..."

"In addition to changing the CEO, I also found a way to save costs for Jumei Logistics. I invested in GLP Zhongguo, the best logistics real estate management company in Zhongguo. After we buy the land and build the warehouse, we can package it into a real estate fund and collect it for ourselves. Rent, because there is stable income to sell shares to private equity and trusts..."

"The other is Xiangyun. I have communicated with Zhu Yunlai from CICC. He thinks Xiangyun can be independently operated and listed. If everyone thinks it is OK, make preparations now..."

"There is also supply chain finance. We can cooperate with Xiangcai Securities. They will fully cooperate. How can we prevent our partners from capital chain problems during rapid expansion..." Qu Li will not only brag, but also solve some key problems. .

After talking about important things, everyone went about his or her own business. Qu Li also wanted to communicate with some businesses. In 08-09, a large number of foreign trade companies in Jiangsu, Zhejiang and Guangdong Province closed down. To find a way out, e-commerce was one of the best choices.

Taobao has Taobao University to teach sellers how to do e-commerce, as well as Taobao Alliance. These are all good things, and Jumei has to learn from them. How can they teach people how to do e-commerce with nothing?And this is only a short-term niche need, and most people can understand the situation through self-study.Only as the platforms become more and more complex will the demand in this area increase. But by then there will be more e-commerce talents in the country, and a few workers with a salary of three to five thousand a month can handle everything.

Jumei has finally produced a brochure to guide sellers in e-commerce. It covers Jumei, Juhuasuan and cross-border Shopee. It only charges a cost price. Jumei won Qingjing, Lu Qi came to China, and Chen Danlin She grabbed his ear and asked: That American girl...