#Laogao E-commerce Newsletter# [February 22 E-commerce Evening News]

　　#Laogao E-commerce News# [E-commerce Evening News on February 22] Alibaba CEO Zhang Yong: Alibaba will not lay off employees; Pinduoduo's rumors was cleared: Tencent Sequoia did not reduce its holdings Futu data was wrong; Alibaba Entertainment responded to management adjustments: Division of labor was announced last year, not news; JD Wang Xiaosong: Fresh food is a strategic category that brings more new users to JD; WeChat mini-program pet e-commerce pets received tens of millions of angel round financing...

　　E-commerce newsletter

　　1. Alibaba CEO Zhang Yong: Alibaba will not lay off employees

　　Yesterday, Alibaba Group CEO Zhang Yong made it clear at the internal management meeting that Alibaba will not lay off employees. Instead, it will continue to open recruitment, increase talent training plans, and invest more platform resources to help the society create more job opportunities.

　　Zhang Yong said, "This year we will not only not lay off employees, but we must also vigorously play the role of Alibaba's platform, make every effort to drive consumption and drive more orders in manufacturing and service industries. When the economy is bad, the greatest value of the platform economy is to create employment." (Laogao E-commerce Circle)

　　2. Pinduoduo shares were cleared for rumor-refuting: Tencent Sequoia did not reduce its holdings in Futu data error

　　On February 22, a screenshot from Futu Securities showed that Tencent and Sequoia Capital reduced their holdings in Pinduoduo, almost clearing all the shares of Pinduoduo held by them. In response, Pinduoduo said that this was a mistake in Futu Software's data. Tencent Sequoia did not reduce its holdings. The slight change in the shareholding ratio was just diluted due to subsequent issuances and the same proportion was diluted. As of 14:00, Futu has corrected the database and the data has been restored to normal. (Sina Technology)

　　3. Alibaba Entertainment responds to management adjustments: Division of labor was announced last year, not news

　　Regarding the report of "Finance" magazine, Alibaba Entertainment has experienced a series of changes such as management adjustments, game business transfers, and merger of sports, Alibaba Entertainment stated that Alibaba Entertainment has always adopted the class committee system. The division of labor between the four class committee members was announced at the end of last year, and it is no longer news. (36Kr)

　　4. JD Wang Xiaosong: Fresh food is a strategic category that brings more new users to JD.com

　　On February 22, at the first JD Mall Fresh Open Platform Merchant Strategy Conference, JD released the first JD Store Opening Season plan and JD Store Opening Season. Wang Xiaosong, head of 7FRESH business and senior vice president of JD Group, said that fresh food belongs to the category of high repurchase rates and is a strategic category that can bring more new users to JD.com. (Tencent First-line)

　　5. WeChat mini program pet e-commerce pets received tens of millions of angel round financing

　　On February 22, WeChat mini-program Pet E-commerce Pet Galler received a angel round of financing of tens of millions. This round of financing was led by Xianfeng Changqing and Lightspeed China. The financing funds will be used for the development of mall product SKUs, team building and supply chain management. Its mini program matrix such as Ai Save Money has been launched in May 2018. Its cumulative registered users have reached 2.5 million users, of which 40,000 daily active users, and about 5,000 new customers per day. The purchase conversion rate has increased from 5% in the early stage to the current 10%, and the repurchase rate of old users has reached more than 20%, and the average customer price is between 100 and 200 yuan. (E-commerce News)

　　Internet news

　　6. Kuaishou launches the app "Dianmao Live" that focuses on game live broadcasts

　　Dianmiao Live is developed by Beijing Kuaishou Technology Co., Ltd. and is currently only online on Android. It is a live broadcast app that covers diverse content such as game live broadcast, game video, game community, etc. and provides game download services. Under the same account system, in addition to consuming the game content that users follow on Dianmao Live, they can also synchronize the short video content they follow on Kuaishou. (Tencent Technology)

　　7. Li Guoqing stepped down as legal representative of Dangdang.com (Tianjin)

　　Qichacha shows that on February 22, 2019, Dangdang Information Technology (Tianjin) Co., Ltd.'s industrial and commercial information was changed, and Dangdang founder Li Guoqing stepped down as a legal person and changed to Chen Lijun, vice president of Dangdang Group. On February 20, Dangdang founder Li Guoqing announced his departure from Dangdang in an open letter. (36Kr)

　　8. Full-time convenience store East China and Chongqing stores are in Luosen

　　Quanshi Convenience Store has no more than 94 stores in East China and Chongqing, and has all been "taken over" by Rosen China. The transaction is carried out through store transfer, and the relevant procedures have been basically completed or are close to completion. Luo Sen China said that it is not convenient to respond to this matter for the time being. On January 18, 2019, the number of stores in Luosen China exceeded 2,000. The East China market (Shanghai, Zhejiang Province, Jiangsu Province) is Luosen's main battlefield, with more than 1,220 stores. (Business Observer)

　　9. Didi employees talk about compensation: compensation has been increased to n+2 this week, and internal audit has been strengthened

　　Didi insiders said that the compensation for layoffs was n+1 before, and this week it was decided to increase it to n+2. But in 2018, Didi's year-end bonus for employees was not paid for one month. The person said Didi has also begun to strengthen internal audit methods, and employees involved in illegal reimbursement and improper business operations may also face the risk of dismissal. Regarding the above information, Didi official did not respond to a request for comment. (Tencent First Line)

　　Cross-border newsletter

　　10. Cross-border e-commerce company "Star Merchants" completed a C round of financing of hundreds of millions of yuan

　　Cross-border e-commerce company Xingshang completed a Series C financing in December 2018, with a financing amount of several hundred million yuan. The specific amount will not be disclosed for the time being. This round is led by Times Bole, followed by old shareholders Haier Capital and Zhenghai Capital. The company was founded in 2011 and started as a big seller on cross-border e-commerce platforms, creating its own brand through big data product selection + OEM production. The company plans to carry out B2B business in India, Southeast Asia and other places in the future. (36Kr)

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