My American magical life
Chapter 567 - 567 94 Come the electric fan is here

567: Chapter 94: Come, the electric fan is here, * 567: Chapter 94: Come, the electric fan is here, * Hua Country’s commercial market never lacked people with ideas.

With a population of more than a billion, there had been too many geniuses and heavy hitters who had emerged.

But generally, only two types of people dared to venture into e-commerce: one was the fool who couldn’t recognize his own strength, and the other was the extremely confident genius.

Confidence and arrogance often looked the same to outsiders, and a genius who failed could sometimes be called a madman when he fell into a predicament.

Regardless of which type, those who dared to do e-commerce at least had some real skills.

The vast market in Hua Country had nurtured over a dozen e-commerce giants: there were Dongxin and Old Ma doing all categories, now there was also Pinduoduo, and for niche categories, there were Dangdang, Mushroom Street, Vipshop, etc.

Special sales, cross-border, auction, membership-based, social, second-tier, guide shopping, second-hand…

All the above still counted as TC business strategies.

If one included B2B e-commerce, there were more giants that ordinary people had never heard of: Shanghai Steel Union, Business Treasure, HC360, Meicai—all curling titans.

There was quite a notion of “freedom to compete under the frosty skies,” and although the mix contained all sorts, those who dared and could scale up were undoubtedly no simple characters.

CEO Cheng dared to try leveraging his MCN’s traffic to make a foray into the e-commerce industry, not because he was arrogant, but because CEO Cheng too had some real skills.

—————–

In the grand hall of Dongxin Group, CEO Cheng was giving a speech to his internet celebrities.

Sun Dongxin, as the owner of Dongxin and a shareholder of Shanhaiguan, also attended today, but he had given the stage entirely to CEO Cheng.

There were over a hundred signed internet celebrities present, but Shanhaiguan’s photography department was live streaming, and several hundred people were watching through the stream, since not everyone could attend in person.

Today’s meeting video would be sent to all the signed internet celebrities; those who didn’t have time to watch the live stream could catch up later.

“Hello everyone, many of you may have seen my videos before but haven’t met me offline.

There are familiar old faces seated here, as well as new faces I don’t recognize.

But all of you are signed internet celebrities with Shanhaiguan, and today I’ve specially gathered you all here to bring you a few good opportunities.

Shanhaiguan is about to partner with Jiājiā Good Stuff, and you might not be very familiar with this platform.

It belongs to a new breed in the e-commerce track, which I call private-domain e-commerce.

Of course, that’s not important.

What’s important is that starting from late December, Jiājiā Good Stuff will be using Shanhaiguan’s system for marketing and promotion.

They pay the money, and we do the promotion.

President Wang from Jiājiā Good Stuff told me that for the year ’19, she has prepared forty million in advertising dollars for us at Shanhaiguan.”

At this point, Cheng Daqi paused, and the settlement standard for this advertising fee appeared on the screen behind him.

The internet celebrities brought by the big boss to the meeting all craned their necks to take a careful look.

Forty million; this amount might only be the protagonist’s first pot of gold in many urban rebirth novels, but in real-life business cooperation, it was enough to excite all the Shanhaiguan internet celebrities present at today’s meeting.

Why did they sign with an MCN to become internet celebrities if not to make money?

Now the company had already secured a forty-million deal.

If they could get a slice of it, they were looking at tens of thousands at least.

When internet keyboard warriors quarrel, anyone without a few modest goals is considered a pauper, but in Hua Country, the reality is that most people are quite satisfied with an annual income of a hundred thousand.

This country is too big, resources are scarce, and people are highly competitive; making money is actually quite difficult.

Seeing the good reaction from below, CEO Cheng continued with a smile.

“President Wang also said that as long as the promotion keeps up, forty million isn’t the cap, but she didn’t say how much more there could be.

However, I can share with you, in the domain of e-commerce promotion, an effective user—that is, a user who has made transactions on the platform—is worth three hundred dollars.

Jiājiā Good Stuff gains users through our Shanhaiguan promotion can then raise funds in the capital market, and these users can all be converted into valuations.

Then, they can continue to promote using money raised from financing.

So, you can understand that this advertising project has no limit.

This year, Pinduoduo just went public on NASDAQ, also in e-commerce.

Do you know what the valuation was?”

Cheng Daqi was engaging in interaction, and some finance-savvy internet celebrities started to become aroused by the big boss’s question.

Pinduoduo had just gone public a few months ago; they clearly remembered the frenzy it had caused on social media.

“24 billion US dollars, CEO Cheng!

“Around 160 billion.

“I remember it being two hundred ninety billion dollars, did I remember wrong?”

Cheng Daqi made a quieting gesture with one hand and continued.

“It was two hundred forty, it went up to two hundred ninety on the first day of listing.

Converted into Hua currency that’s about 2000 billion, and in the twelve months before it went public, it had about 350 million active users.

Do the math, how much valuation did each user fetch?”

Actually, Cheng Daqi’s calculation was quite far-fetched because analyzing a complex company based solely on one element was entirely unreliable.

However, sometimes extreme examples indeed had their expressive power.

“No need to calculate, a user is worth over five hundred, but that’s not important.

What matters is, if you bring an user to Jiājiā Good Stuff, eighty bucks will be transferred to your account immediately.

One hundred users mean eight thousand, a thousand users mean eighty thousand.

There are several people here with over a hundred thousand followers, raise your hands.”

An eighty-dollar price per valid user for promotion might sound preposterous, but it was actually very, very low.