Rebirth: Starting with Capturing the Goddess Mentor

Chapter 279 Yao Jingbo: Go and acquire him.
68同城成立于2005年12月，2006年8月推出核心产品网邻通，2009年推出新版招聘产品，2011年找杨密代言，2013年10月在纽交所挂牌上市。

It became the first listed company in the domestic life services sector.

68.com's business segments include housing information, flea market, ticketing, pets, second-hand goods trading, vehicle sales and services, dating and marriage, yellow pages, recruitment, tourism, and finance.

This is, to put it simply, an extremely strange website.

Any one of these functions could be used to build a unicorn company.

But 68.com has miraculously managed to gather all these complex and cumbersome functions onto one website.

Just like Yang Mi's advertising slogan says: "68.com, a magical website!"

Of course, it was precisely because of its haphazard operating model that it eventually declined.

But that's all in the future. 68.com has just been listed on the New York Stock Exchange and has a market value of US$32.2 billion (RMB197 billion). It is currently enjoying its heyday.

On this day, in a high-end office building in Beijing, 68.com was holding a meeting of its senior executives.

Founder Yao Jingbo, dressed in a bespoke, well-fitting suit, sat in the main seat, his gaze sweeping over the various executives below, his tone calm:
"Each department, please report on your work last month. Did you encounter any problems?"

"If there are any problems, please raise them promptly, and we can discuss and resolve them here."

Wang Lei, the leader of the housing information department, spoke first:

"Mr. Yao, our department facilitated the sale of over 600 properties last month, totaling 1 billion yuan. The overall secondhand housing transaction business saw a 12% month-on-month increase. The rental business also saw an even greater month-on-month increase of 18%..."

Yao Jingbo nodded in satisfaction: "Yes, Mr. Wang did a good job. This month, have the finance department approve a bonus of 200 million yuan to be distributed to all employees in the department as an encouragement."

Wang Lei beamed with joy: "I dare not accept such praise. It's all thanks to General Manager Yao's excellent leadership, plus the booming development of GJ's real estate business. Our department just happened to be riding the wave."

……

Next, each department reported to Yao Jingbo in turn.

It wasn't until Zhu Yulan, the head of the recruitment department, began to report: "General Manager Yao, our department's overall performance has decreased by 21% compared to last month."

The moment those words were spoken, the atmosphere in the meeting room became subtly tense.

In this era, the demographic dividend of the internet is far from reaching its peak.

Major internet companies are still in a period of rapid growth. At this time, even if your performance is the same as last month, let alone decline, it is considered a failure to perform well.

"Mr. Zhu, what's going on?" Yao Jingbo asked.

Zhu Yulan straightened her women's suit and said earnestly:
"Mr. Yao, full-time recruitment has never been our strong point. The market is almost dominated by Zhaopin.com and 51job.com, but we have been the only company in the online part-time market for the past few years."

"But recently a mobile app has emerged that has significantly eroded our original market share, and according to recent online reports, their revenue has far exceeded ours."

Yao Jingbo's expression didn't change much after hearing this, since the revenue from the part-time job market only accounts for a very small part of 68.com's total revenue.

To put it bluntly, even if 68.com completely abandons the part-time job market, it will be of little consequence.

However, even a small amount is still something, so Yao Jingbo still asked, "Does President Zhu know about their revenue situation?"

Zhu Yulan said, "I also saw it on the news, but this data shouldn't be too far off, after all, this app is indeed very popular among young people right now." Yao Jingbo: "What software is it, and what is its monthly revenue?"

Zhu Yulan: "[Daily Part-Time Job] The monthly revenue is unclear, but the revenue on Singles' Day is rumored to have reached 2500 million yuan, with a gross profit of 375 million yuan."

Upon hearing this, everyone in the conference room fell silent!

It's worth noting that 68.com, as the only online part-time job platform a few years ago, only had a daily revenue of around 200,000 yuan!

Of course, this is because its revenue model is completely different from that of [Daily Part-Time Jobs]!
Because 68.com only charges a service fee to merchants who post part-time jobs, and does not participate in the process of distributing part-time wages.

To put it bluntly, it's just a traditional intermediary!

You pay me the money, I'll find you someone, and what happens after that, like the salary, is none of my business.

Therefore, every service fee it collects is profit.

【Daily Part-Time Jobs】does not charge merchants a service fee, but instead takes a cut directly from the part-time worker's salary.

In other words, the merchant will pay the salary to the "Daily Part-Time Job" company in advance, and then "Daily Part-Time Job" will deduct its share before distributing the money to the user's mobile phone backend.

Even though the calculation methods are different, everyone here knows that this app called "Daily Jobs" has far surpassed 68.com in the part-time job market, and the two are no longer on the same level.

However, since [Daily Part-Time Jobs] has not yet expanded to Beijing, and most of the people sitting here are middle-aged people over 40, and no one pays attention to entertainment variety shows like "Running Man", almost no one present has heard of this app.

After a full two minutes of silence in the conference room, Yao Jingbo finally spoke:
"Which company owns 【Daily Part-Time Jobs】?"

Zhu Yulan: "President Yao, it is not from a big company, but a startup product of a college student."

"Oh?"

Yao Jingbo raised an eyebrow. This was interesting. For a college student to create such a product, it might not be said that there would be no one like him in China, but it was definitely unprecedented.

"What are everyone's thoughts?" Yao Jingbo asked.

Then everyone shared their opinions and expressed different views.

Some say we shouldn't worry about it, since it won't have much impact on 68.com.

Some suggest directly acquiring the other party, since the founder is a college student, and which college student could afford to spend 100 million yuan?

After an hour of discussion, Yao Jingbo made the decision:

"Mr. Zhu, you should go and negotiate with that college student to see if we can acquire the company outright."

Zhu Yulan: "Okay, President Yao, what is the acquisition budget?"

Yao Jingbo: "It shouldn't be more than 100 million US dollars."

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(Godfathers, there will be 2 more chapters tonight, please vote with recommendation tickets and monthly tickets~)

(End of this chapter)