#Laogao E-commerce Newsletter# [November 19 E-commerce Evening News]

　　#Laogao E-commerce News# [November 19 E-commerce Evening News Brief] Taobao Double 12 Investment Rules: The main venue is entered through the horse racing system; Alibaba and Tencent are among the top 20 of the EBI Global Top 100; the community group buying platform "Squirrel Pinpin" received US$30 million in Series A financing; the online food delivery platform failed to fulfill its review obligations, and the prosecutor recommended "online" to protect food safety; ofo began to reduce business in the UK market...

　　E-commerce newsletter

　　1. Alibaba and Tencent ranked among the top 20 in the EBI Global Top 100

　　On November 19, the European Brand Research Institute (EBI), an independent European brand and patent evaluation professional organization, recently released the "Global Enterprise Brand Value Top 100", with Apple ranked first, Google ranked second, and China Mobile, Alibaba and Tencent ranked among the top 20. South Korea's Samsung Electronics ranked 19th, becoming the only Korean company on the list (E-commerce News)

　　2. Insider: Xiangcheng is a new project launched by JD.com's fashion business group, which is meaningful to benchmark Pinduoduo.

　　In early November, news began to spread about the e-commerce shopping guide platform "Xiangcheng", which claimed to be a social e-commerce project officially designated by JD.com. An insider of JD.com revealed that Xiangcheng is a new project launched by JD.com's fashion business group. It has just started to do it and the promotion is not very strong. In his opinion, the Xiangcheng project has the meaning of benchmarking against Pinduoduo. A JD employee said that his JD employee also forwarded and promoted the project in his circle of friends, but he was not sure about the specific relationship between Suyun and JD.com, the company that Xiangcheng belongs to. (Yibang Power Network)

　　3. Taobao Double 12 Investment Rules: The main venue enters through the horse racing system

　　On November 19, Taobao’s Double 12 event announced the investment rules a few days ago and started merchant registration. (Yibang Power Network)

　　It is reported that the registration process for Taobao Double 12 this year is as follows:

　　4. Community group buying platform "Squirrel Pinpin" received US$30 million in Series A financing

　　The community group buying platform "Squirrel Pinpin" recently completed a US$30 million Series A financing. The investors in this round include IDG Capital, Hillhouse Capital, MSA, Yunjiu and other institutions, as well as Gan Jiawei, the former COO of Meituan.com, and Index Capital serves as the exclusive financial advisor. Previously, "Squirrel Pinpin" also received a US$4 million angel round financing from IDG and BAT. (Chuangyebang)

　　5. The online food delivery platform has not fulfilled its review obligations, and the procuratorate recommends "online" to protect food safety

　　Recently, the Market Supervision and Administration Bureau organized an administrative interview meeting for online catering service platforms, and interviewed the person in charge of third-party takeaway platforms such as Meituan and Ele.me in Rugao, and asked them to make all rectifications within 7 days and fulfill the main responsibilities of the platform. Up to now, relevant online platforms have been removed from the shelves of 16 merchants in Rugao that do not meet the conditions for online business. In addition, the rectification third-party platform has added the "View Food Safety File" column to the merchant homepage, and consumers can view the business license and food business license of the merchant online. (Legal Daily)

　　Internet Information

　　6. ofo starts to cut business in the UK market

　　This summer, ofo pulled out most parts of the UK, including Sheffield and Norwich, laying off most of its employees, essentially abandoning the goal of making British cities healthier, cleaner and less crowded. Matt Thomas Keeping, head of UK operations at ofo, said the business contraction was "part of a global strategy that focused only on the most mature cities, such as London, Oxford and Cambridge in the UK". (Tencent Technology)

　　7. Xiaomi released its third quarter financial report today, which is expected to correct its high valuation

　　Xiaomi will release its third-quarter financial report on Monday night. At that time, investors will pay attention to whether their Internet service business has achieved growth and the proportion of hardware business contributed to revenue. Xiaomi founder Lei Jun said that Xiaomi is an innovation-driven Internet company, but in the past two quarters, the Internet service business has only accounted for 9.2% of the total revenue on average. Smartphones contribute more than 70% of revenue. Lei Jun once promised to keep the profit margin of smart phones below 5%. (Phoenix Technology)

　　8. LeTV CFO: The debt pressure is extremely high, and it owes suppliers and service providers more than 5 billion yuan.

　　LeTV held its fourth extraordinary general meeting of shareholders in 2018 today. When asked about LeTV's debt issues, LeTV CFO Zhang Wei said that the company is currently facing very high debt pressure. As of the end of September, listed companies pay more than 5 billion yuan in funds due to suppliers and service providers. The company has been negotiating the repayment plan of suppliers and service providers on the debt extension, creating certain conditions for the company's production and operation. As of the end of September, interest-bearing debts including financial institutions were 8 billion yuan. (Tencent First-line)

　　9. Russian payment companies promote WeChat payment in Russia to facilitate Chinese tourists

　　On November 19, Russian electronic payment service provider "Yangzekos Payment" announced that it will access WeChat payment cross-border business for its partner merchants locally, providing convenience for Russian merchants to accept payments from Chinese tourists. Anna Kuzminna, deputy sales director of Yangzekos Payment Company, said, "Russia receives nearly 1.5 million Chinese tourists every year, and Yangzekos Payment Company can provide Chinese tourists with the payment methods they are used to using." (E-commerce News)

　　Cross-border e-commerce

　　10. Amazon’s new headquarters location is selected for more confidentiality: use the employee’s dog as the code name

　　When Amazon assigns code names to 20 finalists in 238 primary cities, the company thought of its employees’ pet dogs, people familiar with the matter said. The City’s shortlisted proposal was named “Project Clancy” and the bidding proposal in Montgomery County, Maryland was called “Project Duke.” Philadelphia's proposal is called "Bayley" and Indianapolis' proposal is called "Hazel". Amazon declined to comment on this. It is reported that Amazon employees were allowed to take their dogs to work. (Phoenix Technology)

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