Electricity “infernal affairs” : BuGuang qi and liu

the author: Xie Pu

over the years, BuGuang together with liu still remember the first time to eat. That was the end of 2005, BuGuang neat new egg, leaving the Yi Xun entrepreneurship. When liu, don’t call jingdong, nor a jingdong mall, but jingdong multimedia network, a name that was quite fashionable.

“Lao liu is a frank person”. BuGuang has the global entrepreneurs “recalls. In a company called Shanghai beauty “Vietnam Mekong” restaurant, luo BuGuang qi and liu a meeting. BuGuang qi is yangzhou, jiangsu province, 270 kilometers of suqian, liu is home. Incidentally, electricity, CEO of tencent Wu Xiaoguang, originally from suqian. In BuGuang’s point of view, the two of them are temperament middleman, since then have also been linked with, together for a conference often meet to snack industry, beer, red wine, drink, love to drink or home made in yanghe liquor, “every time a good drink.”

however, six years later, to tencent investment Yi Xun finally erupted. Old friendship is still there, however, BuGuang relationship qi and liu began making a change, because of work quietly between jingdong began to face Yi Xun challenge.

the day BuGuang meet liu qi travel-stained came to Beijing for dinner. Drunk drunk liu to BuGuang qi said: “let us fight like a man, like a man competition”.

this is their last meal, time is, the end of 2011.

new egg edge

BuGuang qi and liu met in about nine years ago, the origin of newegg.

in the spring of 2003, the SARS epidemic, fear and spread rumors are growing, zhongguancun has seen beside the counter of the survival pressure, liu decided to electricity. At 16 ali staff have been drawn, lake in the secret garden in hangzhou for taobao, at that time, the whole electricity industry benchmarking enterprise named new eggs.

newegg is BuGuang his third job, and then sell burners distribution, liu is still in the zhongguancun counter is the supplier new eggs. Working in a new eggs under high school classmate referrals, liu met BuGuang together. They talked about many, gradually gradually familiar with each other, but the real personal contacts or 2005 years later.

BuGuang has decided to leave at the end of 2005, and jingdong also began to search the foreign investors. Announced in January 2006, jingdong into Shanghai, set up a wholly owned subsidiary in Shanghai, after six months, the established Yi Xun, BuGuang qi and liu more exchanges.

“new egg network domestic electricity across many talents.” A familiar with liu and BuGuang’s former new egg staff said, “is also this year, jingdong small appliances purchasing director ZhuangJia entered jingdong customer service. Later, she and liu become men and women friends, they get to know each other also because new egg “.

Yi Xun key PC high-end game peripherals, jingdong is given priority to with 3 c, because the good word of mouth and cost-effective, jingdong propose are flawed, the first super new egg, then cross the red children. “From a business point of view, it is a big size than we.” BuGuang has the global entrepreneurs “said. In jingdong strategy competitor analysis, until 2010 years ago, are not present Yi Xun figure.

BuGuang qi said, Yi Xun initially want to do a small, urban electricity 3 c accessories. In the second half of 2006, Yi Xun find a batch of matsunichi one they called bean MP3, because small, suddenly can’t eat so many goods, BuGuang qi call liu, liu is also very brightly with his points. BuGuang qi said, until today, he is still very grateful to liu.

at that time, the Yi Xun compete with jingdong is not obvious. Perhaps in the eyes of liu, Yi Xun are nothing, and his personal feelings with BuGuang together is good too. A jingdong staff said, “liu is a particularly confident people”.

has been elaboration electricity business circle pie generation XingKong) founder, is a common friend BuGuang qi and liu. XingKong education wants to contact electricity industry in Shanghai is done better people, to personally liu of carmel BuGuang his telephone, and also let liu greeting BuGuang qi, this just let contact Yi Xun had sent generation.

“BuGuang qi don’t like liu personality is distinct, angular.” XingKong) said, “is a precocious, quiet few words, but have enough ambition and dedication – and liu, temperament middleman, said much, do too much”.

with BuGuang liu qi, a like summer, like a winter.

watershed and the tropic of cancer

in 2007, is the liu and rise of jingdong watershed, this year, jingdong began to financing. In 2010, is Yi Xun tropic of cancer, this year, tencent in Yi Xun.

is capital changed with BuGuang liu qi’s fate.

one night in October 2006, liu shangri-la met with in Beijing today, the capital of China, jingdong marks the financing long-distance running, driving all the way. Some people say that China is liu noble, his vision was his own doing constantly pull litre, xuxin for liu opened the window.

on January 27, 2008, BuGuang qi and liu eat again, as it happens, jingdong warehouse in Shanghai the next day because of the collapse of the snow, fortunately, jingdong bought insurance, but also need to get compensation for a few months time. It is said that the matter of liu touches is very big, is the origin of jingdong determined to make their investment logistics.

jingdong have this determination also because power has changed. In 2008, in its counterparts only hundreds of millions of turnover – amazon, dangdang, jingdong rely on sales of 1.3 billion a procession, as China’s largest autonomous B2C electrical contractor. Developing in contrast with jingdong, Yi Xun still rely on word of mouth, slow development and Yi Xun also did not take any venture.

2008-2009, jingdong a procession. BuGuang together come to realize that, small, urban positioning Yi Xun sooner or later will be jingdong big platform marginal 3 c, then Yi Xun started to adjust the direction, scaling is jingdong. Edge is different, with liu capital Yi Xun founded in 2006 after until tencent before investment, did not take any investment. After Yi Xun positioning adjustment in 2008, of course, he also tried to find investors.

BuGuang’s first encounter with the vc is sequoia shen. At that time, shen asked for PS valuation, valuation, according to the turnover of Yi Xun do BuGuang hope in the coming year turnover valuations. Jingdong’s valuation is Yi Xun a dozen times, according to the judging sequoia valuation mode and the industry, for a heart trying to catch jingdong Yi Xun PS valuation is extremely bad, negotiations.

in 2009, electricity makes the bubbles appear, jingdong once again become a vc, financing two consecutive times within a year, respectively is a male cow capital and Mr Leung $31 million of the individual, and tiger fund of us $75 million. This year, BuGuang contact with trying to exhibit skill in the field of electricity CEO terry gou, hon hai group and the commercial hna. Contact with the traditional enterprise, however, is not happy, in their view, enterprise to buy a piece of hundreds of millions, but an electrical business valuation billions.

at the end of 2009, generation at a conference in guangzhou, met liu BuGuang together again. A person says, when liu from macau to come over, he’s just talking about good tiger fund financing, ambitious, high-spirited. Wine lead three cruise, liu to tiger fund investors strongly recommend BuGuang neat and fast.

if the tiger fund in success, Yi Xun and jingdong will naturally, become “biconditional gate brothers”, but does not talk about the cooperation. At this point, the emergence of another capital strength, make interesting changes have taken place in the situation. This is tencent.

in 2010, jiaxing, meeting generation about hero, tencent electricity Wu Xiao light met BuGuang together. At that time, tencent electricity has not also operate independently, Wu Xiao light just took over, a good game, after the tencent investment are frequent in the electrical business circle for investment project. The two eventually successful cooperation.

a top jingdong, tencent in Yi Xun, jingdong and still keep in depth cooperation in marketing. Yi Xun before he got a stake in operating conditions, investment department of tencent has consulted many insiders, including taobao, but there was no jingdong. This means that the “thick” provocative smell.

is another story, tencent had tried to investment jingdong, “tencent style is for holding”, hence to attend.

on September 16, 2010, sent generation net hna marriott hotel in Beijing held a grand electric business summit, then Yi Xun tencent has identified investment, in this meeting, tencent with jingdong, jingdong very you’re welcome to ask, “why do you want to invest Yi Xun”?

tencent’s investment in, let Yi Xun became more subtle relationship with jingdong, also let Yi Xun had to chase jingdong Windows of opportunity.

BuGuang qi know, Yi Xun disadvantages and advantages, as a chaser, and market laggards, “Yi Xun must rely on word of mouth and services, as well as tencent’s resources, fight and war service.” BuGuang qi said.

in 2010, Yi Xun pioneered “distribution” to enhance a day, night accurate delivery service, and in 2011 launched “lightning”. By electricity price war in the region’s 2012, Yi Xun and shouted out “you lose”, “slow loss”, “false will compensate” service slogan, obviously, “you will lose” scaling is jingdong.

at the end of 2011, BuGuang travel-stained came to Beijing, he again with liu reunion dinner, drunk drunk liu, for BuGuang qi said: “let us fight like a man, like a man competition”.


jingdong’s official discourse, they used to call the competition for the “bad”.

XingKong founder generation), for BuGuang qi and liu communicating are appreciated with jia. “Lao liu and his old bligh short, when we meet about rules.” He said: “still can maintain good communication, will drink together, are all true temperament, very rare”.

in 2012, on February 6, say less quiet BuGuang has finally opened sina weibo. His weibo users have liu first concern. Then, liu has been electricity weibo first.

on August 15, 2012, liu weibo call su ning, electricity price war, BuGuang together also in the weibo for Yi Xun war drum and shout, his weibo says, “the true strength and only Yi Xun jingdong play 3 c price war. , having a drink at the end of last year in Beijing and liu think competition is good for the market progress, final consumer benefit, and a good start of the year “like men of war. Yi Xun last year from China to south and north China began a national logistics layout, can be completed by the end of the 6 regional logistics coverage across the country, the war has just begun, the real drama behind!”

however, Yi Xun official said in a statement, liu comments allegedly hype. , of course, more hope consumers read the content of the statement was, Yi Xun net will start from September on a large scale promotion, not only all electricity, 3 c products are cheaper than jingdong.

August 15 price war has finally been “relevant departments” as a “farce”. Once on weibo temperament news soufangwang liu update weibo again to stop. During the stop weibo, liu two change your avatar, also conveniently changed his own signature to “low-key, low-key, low-key” again. Whether consciously or not, he hasn’t been attention BuGuang together.

then BuGuang qi and liu also have communication in public. Once on the BBS, BuGuang qi said, “we delivery late lose money”, liu also said, “we delivery late also lose money,” liu also spoke of jingdong logistics to open up, “my logistics, Stone (BuGuang qi)” can also be used.

“Yi Xun logistics has been the sting of jingdong.” BuGuang qi said, “liu zhongguancun distribution, jingdong gene is retail and channels, and I, and the software is Yi Xun gene is an IT system, so we good logistics”.

on September 8, 2012 formally Yi Xun switch new domain name 51 buy.com, this domain is the 360 buy.com domain name to follow the example of jingdong. March 30 this year, however, enable the new domain name of JD.com, jingdong mall also launched JOY mascot, is a dog. Recently, the rumors spread out Yi Xun will also start a new domain name.

began in December 2012, Yi Xun “lightning” ads in the Beijing subway. On December 12, Beijing celebrated on the third snow of winter, Yi Xun at tencent space held formally entered the market news conference in Beijing.

into the Beijing headquarters of jingdong market, has a strong symbolic significance. Under the tencent electricity system, Yi Xun strategic planning is gradually breakthrough, tencent hopes Yi Xun start from the two markets of the east China, south China, and then expand to the southwest, central China, the last step in north China and northeast market. At the end of 2012, can’t wait to surprise the north China market, more is to sniper jingdong ipos, preempt the window of opportunity.

at the end of 2012, with jingdong’s “round in Shanghai trading co., LTD.”, “Asia’s no.1” in Shanghai jiading investment logistics base, liu become the 12th CPPCC member of Shanghai. On January 25, 2013, liu appeared officially in the Shanghai people’s political consultative conference meeting. Ten days ago, Yi Xun received a warning letter from Beijing, a party is jingdong mall operators – “Beijing jingdong three best pick up lu degree e-commerce co., LTD.”, the company was founded in 2007 on April 4, the legal representative person liu.

in the warning letter, points out that Yi Xun net is contrast with jingdong mall website commodity prices, “you will lose” activities to customers, “the activity in violation of the” anti-unfair competition law “and relevant laws and regulations, seriously violated the universally recognized norms of business ethics, violate the interests of our”. Jingdong requirements Yi Xun immediately stop “you lose” activities, delete the related page, in the newsletter web page XiangJing east to apologize, otherwise, jingdong will take further legal action, “we have taken the corresponding evidence preservation measures, hope you weigh the pros and cons, as soon as possible to correct illegal behavior. Our company reserves all rights over the responsibility shall be investigated for your legal law “.

since the Shanghai CPPCC member liu, was pressed by the media to jingdong is warning letter, he replied: “I don’t know.”

according to the official size of the two companies in 2012, jingdong proprietary trading turnover reached 60 billion yuan, Yi Xun turnover reached 6 billion. The gap between BuGuang qi and liu, is still very big.

BuGuang qi know, will pursue liu with Beijing East Africa daily, it is a long fight. Yi Xun strategic focus is 2013, “the overall layout, the key breakthrough”, BuGuang qi acknowledged, jingdong is too big to fall, want to beat the jingdong, almost impossible.