Winning the new financial era

Chapter 578
As the end of the year approaches, the series of actions of Rui Xiang and Zhang Yida is still eye-catching.

First, a wholly-owned acquisition of Bilibili, which became famous with the chairman, and then the acquisition of Lilith, a well-known game studio.

What caught the attention of Internet giants the most was the acquisition of Wanlihui, a British cross-border payment company.

This acquisition has passed the review of the British Financial Supervisory Authority and completed the change of ownership, becoming a wholly-owned subsidiary of Ruixiang and the first subsidiary of Ruixiang Financial in Europe.

GrabPay, a subsidiary of Grab Group, of which Ruixiang is the major shareholder, is currently firmly in the No. [-] e-wallet in Southeast Asia, and the shares of the latter few cannot catch up.

In India, Paytm is leading the way, but BBPay has been catching up, and its share is getting closer.

In Japan, South Korea, Pakistan, Bangladesh, Africa and other regions, the series of e-wallets invested by Ruixiang are evenly matched with the leech financial system.

However, under the premise that Leech Financial's acquisition of MoneyGram failed and the US market was destroyed, Ruixiang's high-profile march into Europe this time has to be said to be a step ahead.

But Zhang Yida is not complacent either. European credit cards are well developed, and mobile payment involves citizen data, so it is difficult to really promote it locally.

The acquisition of Wanlihui is more about planning for cross-border e-commerce business.

Pinduoduo has also launched a cross-border e-commerce business that has been prepared internally - Duoduo International in one fell swoop.

Borrowing the resources of Wanlihui, Duoduo International began to tap the tens of thousands of cross-border e-commerce and trade customers on the latter platform to open stores in Duoduo International.

In addition to helping these small and medium-sized merchants open up the Chinese market, Wanlihui, a subsidiary of Ruixiang, can also help cross-border e-commerce remittances and remittances.

Buy Together under Grab has also joined the investment promotion project of DuoDuo International. In addition to guiding Southeast Asian e-commerce sellers to open stores in DuoDuo International, they also invested US$2 million in DuoDuo International and obtained a 20% stake in DuoDuo International.

There are many players in the field of cross-border e-commerce. NetEase Kaola is far ahead with a market share of more than 26%, and Tmall International is catching up with a market share of 22%.

In addition, Vipshop’s market share in this subdivision is similar to Goudong’s, both between 12% and 13%.

Ruixiang's Xiaohongshu ranked fifth, with a 6% market share.

No one doubts that Ruixiang can't do it in this field. After all, domestic short video live broadcasts such as Doushi and Kuaishou are already on the right track.

And Ruixiang also has Musical.ly, which has hundreds of millions of overseas active users.

What the outside world is looking forward to is that Musical.ly will also start short videos and live broadcasts to bring goods, putting some pressure on Amazon.

At the same time, Ruixiang is also holding a high-level meeting internally.

Gu Panpan looked at Ma Jun, the president of the international business group, and frowned in confusion, "Why can't Musical.ly start live streaming? Even if you learn to do TikTok with a short video, it's okay to open a TikTok store and hang a product window?"

Ma Jun smiled wryly, and quickly explained, "The foreign market is somewhat different from the domestic market. Historically, adding a buy button to foreign social software has not had a good effect.

Most people are used to choosing specialized shopping websites, and super APPs like ours are not popular in China.

Almost every major social media platform has tested e-commerce functions. For example, Instagram has launched an in-app shopping function, and Snapchat also cooperated with Shopify last year to provide a shopping experience, but the results are not satisfactory.

For foreigners, Musical.ly is for sharing life videos or watching short videos. "

Gu Panpan is still a little bit unwilling to give up. Now that Duodu International is under her control, she certainly hopes to make a difference.

If the game of Musical.ly is used well, it is no longer a luxury to surpass Netease Koala.

"Why don't we try first?"

She smiled and said, "Renjia's platform is a Renjia platform, and it's also different from short videos.

Let's give it a try, what if we get a big breakthrough? "

Ma Jun is a little entangled. He is mainly worried that adding these functions will affect the user experience and cause a decline in user activity.

Although Lasso launched by Facebook failed, it has never given up, and has been watching from the sidelines, waiting for Musical.ly to show its flaws.

Zhang Yida came out to smooth things over, and said with a smile: "User habits are indeed a problem. Social e-commerce is very popular in Asia, and users don't think there is any problem.

However, European and American users are used to doing different things in different apps, and it is difficult to reverse their concepts for a while. This needs to be cultivated slowly. "

Gu Panpan was a little tangled, but couldn't help but said: "Ruixiang will be listed next year, if the commercialization of Musical.ly can achieve as much success as Douvision, it will have a great impact on our valuation and market confidence in the listing. Great benefit."

Zhang Yida nodded, "I know that, but Musical.ly is also crossing the river by feeling the stones.

Before us, no Internet company has been so successful in going overseas. We have nothing to learn from, and we need to explore everything by ourselves. "

Lu Qi quite agreed with Zhang Yida's words, he said with a smile, "Musical.ly still uses in-app purchases of virtual items as the main monetization method, and they don't even dare to add too many advertisements at once.

Just considering that the current Musical.ly users are still growing rapidly, the ceiling has not been touched, and the market structure is not completely stable.

If you act rashly, it is very likely that the good situation will be ruined. "

Gu Panpan stopped talking now, the chairman and the CEO objected, so she couldn't say anything more.

Zhang Yida noticed that she was in a low mood, so he comforted her, "Although we can't open e-commerce to monetize on a large scale all at once, we can make some small attempts to let users adapt little by little."

"What attempt?" Ma Jun asked.

Zhang Yida said: "Build a product sales page for the brand, and then let KOLs and users on the platform promote it through a "challenge"."

Gu Panpan roughly understood that PlayerUnknown's Battlegrounds had used the same method to promote it before, and the exposure rate was very high. It's just that it didn't sell many products, and most of them were promoted in the form of advertisements.

Her ideal e-commerce realization is to directly configure an e-commerce system, and each user can open a store and sell goods on the short video platform.

Lin Zhenyang thought for a while and commented with a smile, "I think this is a way, first let users know that you can also buy things on Musical.ly, this is called cultivating users' minds.

Moreover, our early stage products are all big brands, so we don’t need to worry about quality control.

In terms of after-sales, we are currently beyond the reach of the global market.

If there is a scandal of "bad quality", it will be in big trouble. "

Zhang Yida nodded, "Yes, that's what I'm worried about. Unless Pinduoduo really enters the global market, these problems you mentioned can be properly resolved."

Lu Qi nodded, "I also have a small suggestion, for the brand merchants who launched the challenge, they can be provided with multiple sets of components related to labels, product displays and videos, and customers can use these components to design brand pages. "

"It's simple, I think it's okay." Lin Zhenyang agreed.

After a group of executives discussed for a while, they decided that Musical.ly's start of e-commerce monetization should be done slowly, and wait until Duoduo International has reached a certain scale.

(End of this chapter)