my return 2002
Chapter 309 Self-built logistics
Chapter 309 Self-built logistics
As a social animal, human beings subconsciously stick together. This is a gene engraved in our bones and cannot be eliminated.
Shen Lang is not too entangled in this matter, as the boss, what he needs to do is to coordinate in the middle, balance the interests of all parties, and let them give full play to their advantages in the internal competition as much as possible, instead of focusing all their energy on internal fighting.
"Ahem." Shen Lang knocked on the table.
Immediately, everyone in the conference room focused their attention on Shen Lang, and everyone knew in their hearts that it was meaningless for them to argue like this. Shen Lang had the only decision-making power in the company.
Shen Lang said seriously: "I know what you think, how about this, the construction funds of the industrial park will be funded by various project teams in proportion, such as Wang Xiaochuan's AI Intelligence Research Institute, what kind of needs do you have, go to it yourself Discuss with the design institute, and then ask the design institute to provide a budget, and this part of the funds will be paid from the funds of the AI Intelligence Research Institute."
"As for the greening, restaurants, accommodation, and entertainment facilities in other public areas, each project team will share them according to the number of employees. In addition, in order to facilitate future property management, I will set up a new property company for unified management."
As soon as the voice fell, there was a burst of whispering in the meeting room, and after a while of communication, they stopped talking.
Shen Lang's plan cannot be said to be perfectly in line with the interests of all parties, but it is the fairest plan so far, and the boss has spoken, which shows that he has already planned in his heart, who would foolishly jump out and sing against the boss?
"Since everyone has no objections, let's get ready first. Mr. Zhang sorts out the plan and negotiates with investors to see what needs to be improved." Shen Lang finally made a decision.
Zhang Yong nodded hastily. This is already very obvious. He said he was negotiating with investors, but it was actually a notification. What needs to be improved is actually telling him that minor changes can be made, but the general direction cannot be changed.
In fact, in Zhang Yong's view, Shen Lang and Chen Tianqiao are the same kind of people, with the same stubbornness and pride, but Chen Tianqiao's stubbornness and pride are written on his face, while Shen Lang looks kind on the surface, but is actually stubborn And pride are engraved in the heart.
This made Zhang Yong a little puzzled. Could it be that stubbornness and pride are essential qualities for success?
Of course, even though he was busy with the industrial park, Shen Lang did not forget to promise to help the villagers in his hometown to build roads, contact a construction company in Shanghai, and hand over the project to them for completion. Regarding the size of this construction company, 2000 million Small projects are naturally not worth mentioning, but Shen Lang still holds a large-scale industrial park project in his hands.
Naturally, the construction company did not dare to be negligent, and immediately went to Shen Lang's hometown to conduct on-the-spot investigations, paying no less attention to benchmark buildings in first-tier cities.
Soon, various investors also agreed to the investment plan of the industrial park, and then the various project teams and design institutes will finalize the design drawings before the groundbreaking can begin.
There is no need for Shen Lang to keep staring at the next thing. On this day, he called his cousin Shen Hongbin who had been wandering around in Shanghai for half a month to the company, and then made an appointment with Liu Qiangdong.
"President Shen, I'm sorry, there is a little traffic jam on the road." Liu Qiangdong took off his outer coat and took a breath.
Shen Lang waved his hands and said with a smile: "It's okay, the number of cars is increasing every year now, and traffic jams are a common occurrence."
"Yeah, the capital city is also very congested now, and the second ring road can't move at all." Liu Qiangdong also felt a little emotional.
While talking, Shen Lang introduced his cousin Shen Hongbin to Liu Qiangdong, and then changed the topic.
"Mr. Liu, I heard that Mr. Taobao has been tripping you up recently?"
Liu Qiangdong smiled wryly and nodded: "Yes, now as long as the express delivery business with Taobao has to raise the price of JD. The company's logistics network is not perfect, which leads to a decline in the shopping experience of users, and many courier orders are canceled on the way."
At this time, the delivery volume of Jingdong and Taobao is simply incomparable. It is no wonder that the express company does not pay attention to Jingdong. On the one hand, it can please Jack Ma, and on the other hand, it can raise the price to make more money.
Shen Lang naturally knew that Jack Ma didn't do this against Liu Qiangdong, but was guarding against him, and Liu Qiangdong must have suffered an innocent disaster.
"Mr. Liu, I still remember the last time we met, I asked you what is Jingdong's core competitiveness."
Before Liu Qiangdong could react, Shen Lang said something that made his heart tremble, but his blood boiled.
"If online shopping wants to grow bigger, logistics is an unavoidable problem. Has Mr. Liu thought about setting up his own logistics system?"
The words were astonishing, Liu Qiangdong didn't even react, he just felt his head buzzing.
"Mr. Shen, what do you mean, let Jingdong build its own logistics?"
Shen Lang smiled at Liu Qiangdong: "What? Did Mr. Liu never have such an idea?"
Liu Qiangdong smiled wryly at Shen Lang: "Boss Shen, to tell you the truth, from the establishment of JD Multimedia in 04, I had the idea of building my own logistics [-] times, but I had to suppress it [-] times."
To put it bluntly, there is no money. Logistics is an asset-heavy industry. Warehousing and trucks require a lot of money. As far as his wealth is concerned, even if he throws it all out, it may not be splashed.
Shen Lang patted Liu Qiangdong on the shoulder, and said seriously: "The sooner the self-built logistics is established, the lower the cost. If it's just a matter of money, I can help solve it."
Liu Qiangdong obviously hesitated for a moment: "President Shen, this matter is too big, can you let me go back and think about it?"
"Of course, Mr. Liu can contact me anytime after he thinks about it."
After sending Liu Qiangdong away, Shen Hongbin asked Shen Lang curiously: "This person is really strange. You give him money, but he still has so many worries?"
Shen Lang smiled at Shen Hongbin: "Do you think my money was given to him for nothing? He has to exchange the shares of JD.com, so it is very likely that he will lose the controlling stake in JD.com, and now there is no e-commerce platform in the world that can With his own logistics platform, even Amazon’s self-built logistics has failed, and he has to consider the risks involved.”
Shen Hongbin had a dazed expression, then stared at Shen Lang for a long while, then stroked his chin and said.
"You are really good at business, kid. You can guess what other people think."
"Okay, stop flattering, you don't play around these days, get ready, and when Mr. Liu agrees to build your own logistics, you can go to learn from him." Shen Lang patted Shen Hongbin on the shoulder and said seriously.
Shen Hongbin was a little curious: "How do you know that he will definitely agree?"
"His ambition will drive him to make the right choice!"
As Shen Lang said, after Liu Qiangdong went back, he kept repeating Shen Lang's words in his mind: build a logistics system by yourself.
There is no doubt that the self-built logistics system can not only help JD.com get rid of the current predicament, but also allow JD.com to gain another core competitiveness in addition to product quality assurance.
However, the cost of self-built logistics makes Liu Qiangdong sleepless all night. In fact, he has visited Wang Wei of SF Express and dealt with many logistics companies. He knows very well that if the current express delivery industry wants to make money, it has to leave The way of Shentong and Zhongtong is open to join and reduce costs.
But in this way, it runs counter to the purpose of self-built logistics system. He is very clear that if a profession such as courier who directly faces customers is handed over to a group of "mercenaries", the quality of service will be impossible to talk about.
More importantly, in order to get Shen Lang's 1000 million RMB investment last year, he already sold 20% of the shares. If Shen Lang gets more shares in JD.com, it will be difficult for him to guarantee his right to speak.
"Can another third-party investor come in to participate in this project?" Liu Qiangdong suddenly had an idea in his mind, and then he couldn't restrain it anymore.
The next day, Liu Qiangdong began to actively contact various investment institutions. However, the results were not good, and the reason was very simple. At this time, JD.com’s business was not even a second-tier e-commerce platform, let alone Taobao and Dangdang.
What's even more ridiculous is that such a small company with mediocre performance is clamoring to build its own logistics. Many investment institutions even think that Liu Qiangdong is a liar. If it weren't for JD.com's investment from Shen Lang, it is estimated that a lot of investment would be enough. Liu Qiangdong will not be allowed to enter.
For several days, Liu Qiangdong went to dozens of investment companies, but was either rejected on the spot, or said to think about it, and then there was no further information.
This hit Liu Qiangdong hard and at the same time inspired his stubborn character. You said I couldn't do it, so I decided to make it for you to see!
At this time, an investor suddenly came to find Liu Qiangdong.
"Mr. Xu, welcome." Liu Qiangdong held Xu Xin's hand very warmly.
Xu Xin laughed secretly, if Shen Lang hadn't called her, she might not have made this trip.
Afterwards, the conversation between the two seemed to be very harmonious. Liu Qiangdong expressed impassionedly the significance of the self-built logistics system to JD.com.
And Xu Xin listened very seriously, and at the same time felt that Liu Qiangdong was a very pragmatic person. Unlike many entrepreneurs, he told investors what he would do in the first step. What will the second step do.
After listening, Xu Xin immediately made a decision: "Mr. Liu, I'm very interested in this project, how about this, you can make a detailed planning plan, and I will approve it to you for how much money it will cost."
Xu Xin has studied Shen Lang's investment cases and found that the projects invested by Shen Lang have not lost money. She believes in Shen Lang's vision, coupled with Liu Qiangdong's attitude of doing practical things, in Xu Xin's view, this is a success conditions, as to whether it can be made, it depends on God's will.
Liu Qiangdong was overjoyed when he heard the words, and he was able to introduce third-party investment, so he didn't have to worry about the high proportion of Shen Lang's shares.
"Ahem, Mr. Xu, Mr. Shen of Inspur Technology also talked to me before, and he should also invest part of it."
Xu Xin had chatted with Shen Lang before coming, so he naturally knew about it, but he still pretended to be pleasantly surprised.
"That's right, that's great. With Mr. Shen's investment, I can also persuade the senior management to approve more funds."
After sending Xu Xin away, Liu Qiangdong began to rack his brains to formulate a business plan for a self-built logistics system. Due to his inexperience, he wrote several editions, but was overthrown by himself in the end. He had no choice but to spend money to hire someone to come Finish.
Soon, the plan for self-built logistics system appeared in Shen Lang's hands.
After Shen Lang saw it, he nodded again and again, and had to admit that Brother Dong still had two talents.
He didn't aim too high to build a nationwide logistics system right away, but built an initial framework based on first- and second-tier cities, and then spread outward layer by layer.
This is also in line with the current development law of e-commerce platforms. First of all, it is only in 07, and the popularity of the Internet is actually not high. The main force of online shopping is still in cities with relatively developed economies.
In addition, JD.com's user groups are relatively high-end users, and most of these users are also in first- and second-tier cities. Therefore, at present, JD.com only needs to establish a logistics system in first-tier and second-tier cities to satisfy most JD users. There is no need to spread its tentacles all over the country like Taobao.
Finally, after discussion, Capital Today invested 1000 million US dollars, and Shen Lang's investment company invested 500 million US dollars to help JD.com build its own logistics system.
The news quickly spread in the e-commerce circle, and there was a lot of discussion for a while.
However, most of them are laughing at Liu Qiangdong’s overreaching. You must know how strong Amazon’s capital is, and its self-built logistics system has failed. How big is JD.com?Isn't it fantasy to want to do something that Amazon can't do?
For a while, Liu Qiangdong became a joke in the circle. For example, Guo Fanshen of HC.com asserted that JD.com would not survive a year.
However, compared to other people who were about to watch Liu Qiangdong's jokes, Jack Ma was inexplicably nervous.
"Where did Liu Qiangdong find the courage to build his own logistics?"
Cai Chongxin saw that Jack Ma was frowning, so he persuaded him: "Shen Lang is just following the vote this time, which means that Liu Qiangdong is also guarding against Shen Lang. As long as Shen Lang doesn't enter the arena in person, we don't need to be so nervous .”
Jack Ma frowned when he heard the words, and then smiled wryly: "Maybe I was too cautious, I hope the failure of JD.com can dispel Shen Lang's idea of entering e-commerce."
Cai Chongxin suddenly thought of a question: "Old Ma, tell me, Shen Lang is not doing anything other than the industrial park now. With such a large sum of money in his hand, what exactly does he want to do?"
Jack Ma was also puzzled, he now felt that what Shen Lang was holding was not a large sum of money, but a bomb, which was thrown out to stir up the existence of the entire Internet circle in the Mainland.
But Shen Lang didn't move at all, which made all Ali executives have a bad life for years.
"Are we a little too nervous?" Cai Chongxin couldn't help but smile bitterly.
Jack Ma waved his hand: "Forget it, let's put these aside for now. The most urgent thing is to prepare for the IPO of the Hong Kong stock market. You should pay close attention to this."
Taobao is a money-burning machine. In addition to investing in logistics and some other projects, it also spent more than half of the US$10 billion raised from Yahoo. IPO financing became the only way out.
(End of this chapter)
As a social animal, human beings subconsciously stick together. This is a gene engraved in our bones and cannot be eliminated.
Shen Lang is not too entangled in this matter, as the boss, what he needs to do is to coordinate in the middle, balance the interests of all parties, and let them give full play to their advantages in the internal competition as much as possible, instead of focusing all their energy on internal fighting.
"Ahem." Shen Lang knocked on the table.
Immediately, everyone in the conference room focused their attention on Shen Lang, and everyone knew in their hearts that it was meaningless for them to argue like this. Shen Lang had the only decision-making power in the company.
Shen Lang said seriously: "I know what you think, how about this, the construction funds of the industrial park will be funded by various project teams in proportion, such as Wang Xiaochuan's AI Intelligence Research Institute, what kind of needs do you have, go to it yourself Discuss with the design institute, and then ask the design institute to provide a budget, and this part of the funds will be paid from the funds of the AI Intelligence Research Institute."
"As for the greening, restaurants, accommodation, and entertainment facilities in other public areas, each project team will share them according to the number of employees. In addition, in order to facilitate future property management, I will set up a new property company for unified management."
As soon as the voice fell, there was a burst of whispering in the meeting room, and after a while of communication, they stopped talking.
Shen Lang's plan cannot be said to be perfectly in line with the interests of all parties, but it is the fairest plan so far, and the boss has spoken, which shows that he has already planned in his heart, who would foolishly jump out and sing against the boss?
"Since everyone has no objections, let's get ready first. Mr. Zhang sorts out the plan and negotiates with investors to see what needs to be improved." Shen Lang finally made a decision.
Zhang Yong nodded hastily. This is already very obvious. He said he was negotiating with investors, but it was actually a notification. What needs to be improved is actually telling him that minor changes can be made, but the general direction cannot be changed.
In fact, in Zhang Yong's view, Shen Lang and Chen Tianqiao are the same kind of people, with the same stubbornness and pride, but Chen Tianqiao's stubbornness and pride are written on his face, while Shen Lang looks kind on the surface, but is actually stubborn And pride are engraved in the heart.
This made Zhang Yong a little puzzled. Could it be that stubbornness and pride are essential qualities for success?
Of course, even though he was busy with the industrial park, Shen Lang did not forget to promise to help the villagers in his hometown to build roads, contact a construction company in Shanghai, and hand over the project to them for completion. Regarding the size of this construction company, 2000 million Small projects are naturally not worth mentioning, but Shen Lang still holds a large-scale industrial park project in his hands.
Naturally, the construction company did not dare to be negligent, and immediately went to Shen Lang's hometown to conduct on-the-spot investigations, paying no less attention to benchmark buildings in first-tier cities.
Soon, various investors also agreed to the investment plan of the industrial park, and then the various project teams and design institutes will finalize the design drawings before the groundbreaking can begin.
There is no need for Shen Lang to keep staring at the next thing. On this day, he called his cousin Shen Hongbin who had been wandering around in Shanghai for half a month to the company, and then made an appointment with Liu Qiangdong.
"President Shen, I'm sorry, there is a little traffic jam on the road." Liu Qiangdong took off his outer coat and took a breath.
Shen Lang waved his hands and said with a smile: "It's okay, the number of cars is increasing every year now, and traffic jams are a common occurrence."
"Yeah, the capital city is also very congested now, and the second ring road can't move at all." Liu Qiangdong also felt a little emotional.
While talking, Shen Lang introduced his cousin Shen Hongbin to Liu Qiangdong, and then changed the topic.
"Mr. Liu, I heard that Mr. Taobao has been tripping you up recently?"
Liu Qiangdong smiled wryly and nodded: "Yes, now as long as the express delivery business with Taobao has to raise the price of JD. The company's logistics network is not perfect, which leads to a decline in the shopping experience of users, and many courier orders are canceled on the way."
At this time, the delivery volume of Jingdong and Taobao is simply incomparable. It is no wonder that the express company does not pay attention to Jingdong. On the one hand, it can please Jack Ma, and on the other hand, it can raise the price to make more money.
Shen Lang naturally knew that Jack Ma didn't do this against Liu Qiangdong, but was guarding against him, and Liu Qiangdong must have suffered an innocent disaster.
"Mr. Liu, I still remember the last time we met, I asked you what is Jingdong's core competitiveness."
Before Liu Qiangdong could react, Shen Lang said something that made his heart tremble, but his blood boiled.
"If online shopping wants to grow bigger, logistics is an unavoidable problem. Has Mr. Liu thought about setting up his own logistics system?"
The words were astonishing, Liu Qiangdong didn't even react, he just felt his head buzzing.
"Mr. Shen, what do you mean, let Jingdong build its own logistics?"
Shen Lang smiled at Liu Qiangdong: "What? Did Mr. Liu never have such an idea?"
Liu Qiangdong smiled wryly at Shen Lang: "Boss Shen, to tell you the truth, from the establishment of JD Multimedia in 04, I had the idea of building my own logistics [-] times, but I had to suppress it [-] times."
To put it bluntly, there is no money. Logistics is an asset-heavy industry. Warehousing and trucks require a lot of money. As far as his wealth is concerned, even if he throws it all out, it may not be splashed.
Shen Lang patted Liu Qiangdong on the shoulder, and said seriously: "The sooner the self-built logistics is established, the lower the cost. If it's just a matter of money, I can help solve it."
Liu Qiangdong obviously hesitated for a moment: "President Shen, this matter is too big, can you let me go back and think about it?"
"Of course, Mr. Liu can contact me anytime after he thinks about it."
After sending Liu Qiangdong away, Shen Hongbin asked Shen Lang curiously: "This person is really strange. You give him money, but he still has so many worries?"
Shen Lang smiled at Shen Hongbin: "Do you think my money was given to him for nothing? He has to exchange the shares of JD.com, so it is very likely that he will lose the controlling stake in JD.com, and now there is no e-commerce platform in the world that can With his own logistics platform, even Amazon’s self-built logistics has failed, and he has to consider the risks involved.”
Shen Hongbin had a dazed expression, then stared at Shen Lang for a long while, then stroked his chin and said.
"You are really good at business, kid. You can guess what other people think."
"Okay, stop flattering, you don't play around these days, get ready, and when Mr. Liu agrees to build your own logistics, you can go to learn from him." Shen Lang patted Shen Hongbin on the shoulder and said seriously.
Shen Hongbin was a little curious: "How do you know that he will definitely agree?"
"His ambition will drive him to make the right choice!"
As Shen Lang said, after Liu Qiangdong went back, he kept repeating Shen Lang's words in his mind: build a logistics system by yourself.
There is no doubt that the self-built logistics system can not only help JD.com get rid of the current predicament, but also allow JD.com to gain another core competitiveness in addition to product quality assurance.
However, the cost of self-built logistics makes Liu Qiangdong sleepless all night. In fact, he has visited Wang Wei of SF Express and dealt with many logistics companies. He knows very well that if the current express delivery industry wants to make money, it has to leave The way of Shentong and Zhongtong is open to join and reduce costs.
But in this way, it runs counter to the purpose of self-built logistics system. He is very clear that if a profession such as courier who directly faces customers is handed over to a group of "mercenaries", the quality of service will be impossible to talk about.
More importantly, in order to get Shen Lang's 1000 million RMB investment last year, he already sold 20% of the shares. If Shen Lang gets more shares in JD.com, it will be difficult for him to guarantee his right to speak.
"Can another third-party investor come in to participate in this project?" Liu Qiangdong suddenly had an idea in his mind, and then he couldn't restrain it anymore.
The next day, Liu Qiangdong began to actively contact various investment institutions. However, the results were not good, and the reason was very simple. At this time, JD.com’s business was not even a second-tier e-commerce platform, let alone Taobao and Dangdang.
What's even more ridiculous is that such a small company with mediocre performance is clamoring to build its own logistics. Many investment institutions even think that Liu Qiangdong is a liar. If it weren't for JD.com's investment from Shen Lang, it is estimated that a lot of investment would be enough. Liu Qiangdong will not be allowed to enter.
For several days, Liu Qiangdong went to dozens of investment companies, but was either rejected on the spot, or said to think about it, and then there was no further information.
This hit Liu Qiangdong hard and at the same time inspired his stubborn character. You said I couldn't do it, so I decided to make it for you to see!
At this time, an investor suddenly came to find Liu Qiangdong.
"Mr. Xu, welcome." Liu Qiangdong held Xu Xin's hand very warmly.
Xu Xin laughed secretly, if Shen Lang hadn't called her, she might not have made this trip.
Afterwards, the conversation between the two seemed to be very harmonious. Liu Qiangdong expressed impassionedly the significance of the self-built logistics system to JD.com.
And Xu Xin listened very seriously, and at the same time felt that Liu Qiangdong was a very pragmatic person. Unlike many entrepreneurs, he told investors what he would do in the first step. What will the second step do.
After listening, Xu Xin immediately made a decision: "Mr. Liu, I'm very interested in this project, how about this, you can make a detailed planning plan, and I will approve it to you for how much money it will cost."
Xu Xin has studied Shen Lang's investment cases and found that the projects invested by Shen Lang have not lost money. She believes in Shen Lang's vision, coupled with Liu Qiangdong's attitude of doing practical things, in Xu Xin's view, this is a success conditions, as to whether it can be made, it depends on God's will.
Liu Qiangdong was overjoyed when he heard the words, and he was able to introduce third-party investment, so he didn't have to worry about the high proportion of Shen Lang's shares.
"Ahem, Mr. Xu, Mr. Shen of Inspur Technology also talked to me before, and he should also invest part of it."
Xu Xin had chatted with Shen Lang before coming, so he naturally knew about it, but he still pretended to be pleasantly surprised.
"That's right, that's great. With Mr. Shen's investment, I can also persuade the senior management to approve more funds."
After sending Xu Xin away, Liu Qiangdong began to rack his brains to formulate a business plan for a self-built logistics system. Due to his inexperience, he wrote several editions, but was overthrown by himself in the end. He had no choice but to spend money to hire someone to come Finish.
Soon, the plan for self-built logistics system appeared in Shen Lang's hands.
After Shen Lang saw it, he nodded again and again, and had to admit that Brother Dong still had two talents.
He didn't aim too high to build a nationwide logistics system right away, but built an initial framework based on first- and second-tier cities, and then spread outward layer by layer.
This is also in line with the current development law of e-commerce platforms. First of all, it is only in 07, and the popularity of the Internet is actually not high. The main force of online shopping is still in cities with relatively developed economies.
In addition, JD.com's user groups are relatively high-end users, and most of these users are also in first- and second-tier cities. Therefore, at present, JD.com only needs to establish a logistics system in first-tier and second-tier cities to satisfy most JD users. There is no need to spread its tentacles all over the country like Taobao.
Finally, after discussion, Capital Today invested 1000 million US dollars, and Shen Lang's investment company invested 500 million US dollars to help JD.com build its own logistics system.
The news quickly spread in the e-commerce circle, and there was a lot of discussion for a while.
However, most of them are laughing at Liu Qiangdong’s overreaching. You must know how strong Amazon’s capital is, and its self-built logistics system has failed. How big is JD.com?Isn't it fantasy to want to do something that Amazon can't do?
For a while, Liu Qiangdong became a joke in the circle. For example, Guo Fanshen of HC.com asserted that JD.com would not survive a year.
However, compared to other people who were about to watch Liu Qiangdong's jokes, Jack Ma was inexplicably nervous.
"Where did Liu Qiangdong find the courage to build his own logistics?"
Cai Chongxin saw that Jack Ma was frowning, so he persuaded him: "Shen Lang is just following the vote this time, which means that Liu Qiangdong is also guarding against Shen Lang. As long as Shen Lang doesn't enter the arena in person, we don't need to be so nervous .”
Jack Ma frowned when he heard the words, and then smiled wryly: "Maybe I was too cautious, I hope the failure of JD.com can dispel Shen Lang's idea of entering e-commerce."
Cai Chongxin suddenly thought of a question: "Old Ma, tell me, Shen Lang is not doing anything other than the industrial park now. With such a large sum of money in his hand, what exactly does he want to do?"
Jack Ma was also puzzled, he now felt that what Shen Lang was holding was not a large sum of money, but a bomb, which was thrown out to stir up the existence of the entire Internet circle in the Mainland.
But Shen Lang didn't move at all, which made all Ali executives have a bad life for years.
"Are we a little too nervous?" Cai Chongxin couldn't help but smile bitterly.
Jack Ma waved his hand: "Forget it, let's put these aside for now. The most urgent thing is to prepare for the IPO of the Hong Kong stock market. You should pay close attention to this."
Taobao is a money-burning machine. In addition to investing in logistics and some other projects, it also spent more than half of the US$10 billion raised from Yahoo. IPO financing became the only way out.
(End of this chapter)
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