Chapter 341: Paopao Company and 'North American Partners' [10/10]
"Tyler, you are right. You can buy 2.0 in a few days, so consumers in Greater China will definitely not buy 1.0." Charlie gradually became excited and quickly added: "Because of this, the purchase of 2.0 is restricted.
, but not 1.0. For a company as big as Coastline, their senior management is certainly not stupid, and such a move is obviously to hope that we practitioners will eat up the inventory of 1.0 and then sell it to Europe and the United States. Don’t forget that Coastline’s current
The global business is in a 'dormant period', and we all know the price of 1.0 in the European and American black markets, how could Coastline Company not know?"
"What you said makes sense, but I think you are too ambitious. I still don't think you can meet Ye Hua or other executives of Coral Island Technology under Coastline Group." Taylor shrugged and said, obviously the gap is too big.
, he didn’t even have any thoughts.
"What's the difference between not having a dream and being a salted fish? What if it succeeds?" Charlie smiled nonchalantly and said: "I want to give this a try. After a year of doing business, I also met some big names. On Wall Street,
I have also established some connections that may be useful, but how will you know if you don’t try?”
"You are the CEO of Paopao and have veto power." Taylor glanced at Jay and he smiled and nodded, which meant that he supported it. Although he was the co-founder of Paopao, Charlie had the final decision.
If everyone has the right to veto, it will break down when the differences of opinion are irreconcilable. At this time, the importance of the veto power is self-evident. At critical moments, there must be a strong voice to make decisions.
"Put this matter aside for now. What we are going to talk about today is the transformation of Paopao. The 2.0 purchase limit has fully demonstrated the fragile side of our company. We must transform. This is a top priority." Charlie told his two friends very seriously.
explain.
Two friends also agreed with what he said. Paopao Company is indeed too dependent on PHC. Everyone wants to make this business successful and bigger, so this issue cannot be ignored.
"Then do you have any ideas, Charlie." Jay looked at him and asked.
"I do have an idea, that is, to transform paopao into an e-commerce platform that specializes in purchasing goods for customers in North America and even Europe. From tops, slippers, cookies, to coffee machines, and of course us
The old business is PHC, and the purchasing channel, Taylor, you are responsible for creating the paopao website."
Charlie stated clearly and clearly. It was obvious that he had already considered the transformation issue early. He organized the language in his mind and continued: "The paopao website should link consumers and Dibao. Its positioning should be a shopping guide website based on Dibao. However,
Taylor, you need to use technical means to allow users to consume directly on paopao, instead of jumping to Dibao like other shopping guide websites. At the same time, paopao shopping guide website must be different from other shopping guide websites. All content on paopao needs to be translated into English.
Automatically translate product names and basic parameters."
"Well, then I need a larger team to build this website." Taylor said.
"No problem, we have money now, we can hire more engineers, and even if it improves, we may be able to get the favor of venture capital." Charlie said.
When the company was founded, the three partners had a clear division of labor. Charlie and Jay were responsible for the company's direction and team building, while Taylor, as the technical leader, handled everything from the website to the office IT.
Online shopping, cash withdrawal, online payment, online payment... These new consumption models are nothing new to Chinese people. However, even now in 2022, they still appear extremely fresh and magical in the eyes of foreigners.
, after all, China is moving faster than Europe and the United States in this area.
"I heard about Taobao from my colleagues and friends in China a few years ago, but my Chinese was not good at that time and I couldn't understand it. I always troubled them when I wanted to buy something." Charlie smiled and told his story: "
Sometimes I will ask the students around me for help. Classmates, in the remaining 10 minutes, could you please help me buy the following products from Taobao, haha... When time passes, I will feel very embarrassed, so I usually don’t
purchase."
It is for this reason and after experiencing this personally that Charlie thought of paopao's transformation direction.
The news announced by Coastline this time has indeed made them feel a crisis, making Paopao Company's transformation or expansion of its business scope an urgent matter, otherwise the future will be too unstable.
The three of them discussed together for a whole afternoon. They actually didn't know much about e-commerce. The leader of e-commerce was Alibaba, but it had nothing to do with the three of them.
To transform, the first difficulty they face is how to translate the huge data on Timmao and Dibao into English and move it to the paopao shopping guide website, and how to create an account to charge users.
Also, whether such a business model complies with legal procedures, legal procedures in China, legal procedures in North America, etc., each item needs to be considered.
Then you need to expand the company and recruit employees. First of all, legal issues need to be handled by professional lawyers.
Once your business gets bigger, there will definitely be more things to do.
No matter it is any enterprise, large or small, transformation is painful.
However, Charlie and the others firmly believed that this idea was credible and reliable, and that it would be profitable if it was successful. Once they believed it, they continued to promote this cause and maintain this cause and this spirit.
Later, after three months of hard work, paopao shopping guide website was officially launched, and paopao company also kicked off its transformation.
As a website that connects consumers and Dibao, paopao updates the products of Dibao and Timmao on its own website, and automatically translates the product names, product parameters and netizens’ messages into English to facilitate consumption in English-speaking areas.
Browsers.
It is worth mentioning that Charlie and the others have successfully enabled users to consume directly on paopao without having to jump to Dibao.
Ali:???
The slogan of paopao shopping guide network is [the-best-way-to-shop-in-huaxia], which translates to "the best way to shop in Huaxia".
It is confirmed that the paopao shopping guide website will be updated at least once a week. Foreigners shopping on paopao can directly search for Chinese or English keywords, or they can enter English and select "Translate" to translate the index content into Chinese before searching.
After in-depth research, Charlie and the others also established paopao's profit model, which is to charge users a service fee of 4.5% for each product and 6 yuan for each order.
Supporting WeChat payment, UnionPay, Alipay and Paypal payment, they not only provide cross-regional e-commerce services to users in North America, Greater China is also the business scope, and even the core business in the early stage, so there are UnionPay, Alipay, WeChat payment and so on.
Because there are more and more foreigners in China today, and being able to provide services to them will bring huge benefits, and most foreigners in China will authenticate these payment methods, which are the simplest payment methods.
Charlie has made a very clear strategic plan for the future development of paopao. He will first serve foreign customers living in Greater China, that is, foreigners in China first, and then actively expand overseas business.
As foreigners, the three partners understand the shopping mentality and consumption habits of foreigners living in China better than Chinese merchants, and know what they are thinking and wanting better than Chinese merchants.
Paopao has established sections such as "This Week's Recommendations", "Today's Specials", and "Latest Arrivals" based on the consumer tastes of foreigners to help users filter products and recommend suitable products.
This small model is actually a direct copy of the phc-tore app store, with a slight modification, it became a means for Paopao to guide users to consume.
At the same time, product information is sent to users via email on time. The three founders later said that users trust paopao and like the products they recommend.
In response to the browsing habits of foreigners, Charlie also arranged a blog column on paopao to explore products, divided into columns such as "User Choice", "Shopping Tips" and "C".
The idea of column c comes from Jay, which means "the-cool, the-cheap, the-crazy", that is: the coolest, cheapest and craziest, with new content pushed every week.
Although Charlie is not technical and is an English teacher, he is very ambitious and hopes that Paopao will sell Dibao and Timmao products overseas and become a global e-commerce provider. Even in the entire long-term plan, it has
Clear service concept: Establish a new way to change people's shopping patterns, make shopping a social experience, build a shopping community, and make paopao global.
In the first month when paopao went online, it only received a measly 15 orders. After half a year, it received nearly 30,000 orders and 19 million views per month. And according to incomplete statistics, women's clothing is the most popular, accounting for the most sales.
21%, followed by home furnishings, smart electrical products, etc.
Most foreigners are not familiar with Huaxia sellers and brands. Paopao Shopping Guide Network provides a lot of high-quality and low-priced product information and consumption methods. More and more foreigners have obtained Huaxia products through paopao.com.
After two years of development, paopao.com has ushered in a rapid take-off stage. Even Chinese netizens know about it, and some domestic netizens go to paopao to shop online.
Charlie's company was soon noticed by the two super giants Alibaba and Amazon. Two years later, paopao.com was valued at US$800 million, becoming a quasi-unicorn startup.
As they continue to develop, both Alibaba and Amazon have extended an olive branch to Paopao. The former wants to acquire it for US$2.5 billion, and the latter has invested US$3 billion. Jay and Taylor are already interested, but Charlie is unwilling to sell himself to the giant.
The co-founders finally had their first huge disagreement. At a critical moment, Charlie used his veto power. Later, the two friends were very happy that Charlie used his veto power.
For Amazon, paopao.com is actually very popular in Greater China. Amazon has failed in Greater China, so it really wants to acquire paopao company, and by the way, insert a needle into Alibaba's back garden to make its opponents uncomfortable.
.
Of course Ali couldn't bear it anymore, and as paopao continued to develop, Ali also took a fancy to its international business capabilities.
But Charlie refused the solicitation from the two giants. Naturally, he was subjected to crazy suppression. In the end, he compromised with capital and mainly accepted financing from Goldman Sachs Capital to introduce capital. After several rounds of financing, among the shareholders of paopao.com, except for the three major alliances,
Founder, Goldman Sachs Capital, Alibaba and Amazon are the other three major shareholders.
But the company is at least firmly in the hands of the founders, because Charlie has veto power.
In the end, paopao.com managed to find a way out and was successfully listed on Nasdaq in the sixth year of its establishment, with a market value of US$47.7 billion.
Domestic netizens also ridiculed Paopao as the North American version of Pinduoduo, and also spoofed Charlie, Jay and Taylor as the three leading actors in "North American Partner".
Of course, these are all things for later.
Now, Charlie and two other friends are still discussing the transformation of paopao company. After five days of intensive planning, they have initially determined the future path of paopao.
Next, Jay was responsible for team building, Taylor was responsible for technology, and Charlie flew to Zhouyong Town. Later, the three co-founders learned that without Charlie's trip, there would be no possibility for Paopao to be listed on Nasdaq in the future.
Three days later.
At around 15:00 in the afternoon, Charlie took a taxi and drove on the Zhouhaiwan Bridge. After crossing the bridge, he reached Yongzhen.
Staring at the destination getting closer and closer, Charlie said secretly: "Opportunities will always be reserved for those who take action and persevere. Dreams still have to be used. What if they come true?"
