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E-commerce newsletter
1. Pinduoduo equity exposed: Huang Zheng holds 26.5% of the shares
According to May 3, Pinduoduo recently submitted a 20-F document to the US SEC. The document shows that as of February 28, 2023, Pinduoduo founder Huang Zheng held 26.5%, Tencent held 14.7%, and Pinduoduo partners held 7%. As of February 28, 2022, Pinduoduo held 5,057,542,676 shares. Comparison shows that in the past year, Gaorong Capital and Sequoia Capital have withdrawn from the ranks of Pinduoduo's major shareholders, and the collective shareholding ratio of Huang Zheng, Tencent and Pinduoduo's partners has declined, while the number of equity held by Pinduoduo has increased. (Pinduoduo)
2. Kuaishou Live launches video "Grid" chat room live broadcast incentives for guilds and anchors
On May 2, Kuaishou Live launched a video "Grid" chat room live broadcast policy for guilds and anchors - using the video "Grid" chat room task flow as the reward base, to complete the effective days of the broadcast and the effective duration of the broadcast in the assessment indicators, the maximum task reward can reach 8%; in addition to completing the corresponding reward ratio for fixed-value tasks, complete the increase task in the assessment indicators, and the maximum task reward can reach 12%. It is reported that as a multi-player live broadcast mode, the video "Grid" chat room can gather anchor traffic and improve the content quality of the live broadcast room. In 2022, Kuaishou’s live broadcast revenue reached 35.4 billion yuan. (Whip the Cow)
Internet news
3. Luckin Coffee's revenue in the first quarter was 4.437 billion yuan and 1,137 new stores were opened.
According to May 2, Luckin Coffee announced its first quarter 2023 financial report as of March 31. Financial report data shows that Luckin opened 1,137 new stores in the first quarter, an increase of 13.8% month-on-month. As of the end of the first quarter, the number of stores was 9,351, including 6,310 self-operated stores and 3,041 partnership stores; the average monthly transaction customers in the first quarter was 29.5 million, an increase of 84.6% from 16 million in the same period last year; the same-store sales of self-operated stores increased by 29.6%, while the same-store increase of 41.6% in the same period last year. (Luikung Coffee)
4. Maoyan Professional Edition: The total box office of the May Day new film exceeded 1.4 billion
According to the data from Maoyan Professional Edition, at 14:00 on May 3, the total box office of the new films in 2023 exceeded 1.4 billion, and "The King of the Sky", "Unfamiliar with Life" and "So many years" ranked among the top three. (Mao's Eye)
5. Alipay May Day data: consumption amount increased by 200% year-on-year
According to May 4, Alipay recently released consumer insights three days before the May Day holiday. Data shows that the amount of holiday consumption during the May Day holiday in 2023 increased by 200% compared with the same period in 2022 and 70% compared with the same period in 2019. The top 10 cities in 2019 increased year-on-year compared with the previous year are: Guiyang City, Guizhou Province, Xiangyang City, Hubei Province, Taiyuan City, Shanxi Province, Lanzhou City, Gansu Province, Haikou City, Hainan Province, Ganzhou City, Jiangxi Province, Luoyang City, Henan Province, Changsha City, Hunan Province, Huizhou City, Guangdong Province, and Chongqing City. The consumption amount in the catering industry increased by more than 50% year-on-year. (Alipay)
6. It is worth buying and appointing Wang Yunfeng as the company's chief technical officer
According to May 3, Beijing Weimai Technology Co., Ltd. recently issued an announcement stating that the company held the 18th meeting of the third board of directors and reviewed and passed the "Proposal on the Appointment of Chief Technology Officer". According to relevant regulations, Wang Yunfeng is nominated by the company's chairman and reviewed by the company's nomination committee. His term of office will be appointed as the company's chief technical officer. His term of office will be from the date of review and approval of this board of directors until the expiration of the third board of directors. According to official information, Wang Yunfeng has served as the head of Sogou Company's search architecture, a senior expert in Alibaba Cloud, and Sohu Focus CTO. (Worth buying technology)
7. Mafengwo Tourism 2023 May Day Tourism Big Data: Zibo’s popularity increased by 605% month-on-month
On May 3, Mafengwo Tourism released the 2023 May Day Tourism Big Data Report. During the May Day holiday in 2023, Zhejiang was the most popular province, followed by Yunnan. The fourth to tenth places in popular provinces are Guangdong, Fujian, Shandong, Beijing, Sichuan, Hunan and Guangxi. During the May Day holiday of 2023, Zibo, Gannan and Huludao had the highest month-on-month growth, with increases of 605%, 211%, and 206%, respectively. Mafengwo big data shows that the popularity of outbound travel continues to rise. Among the "Top Ten Popular Overseas Countries" on May Day 2023, Thailand firmly ranked first in the list of popular overseas countries. (Mad Bee Made)
Cross-border newsletter
8. Morgan Stanley plans to lay off 3,000 employees
According to foreign media reports, Morgan Stanley Bank plans to lay off employees again, affecting about 3,000 people. If implemented, this will be the second round of layoffs in half a year. The report quoted people familiar with the matter as saying that Morgan Stanley will lay off employees across the company this time, except for wealth management. Morgan Stanley declined to comment on reports of its upcoming layoffs. Morgan Stanley released its financial report last month, showing that its investment banking revenue fell by 24%. Morgan Stanley's chief financial officer said last month that "spension management" is the top priority given market uncertainty and high inflation. (ENECNEWS)
9. eBay: Reward $500,000 to promote small business sellers’ success
On May 3, eBay announced the launch of the "2023 Startup and Operations Plan", an annual rewards program designed to reward promising eBay small business sellers and provide them with the tools they need to take their business to the next level. This year, eBay added a $500 perk worth of bonuses to the grant, and each Up & Running grant recipient can equip themselves with eBay Refurbished’s basic office technology and tools. Between 2020 and 2023, eBay has committed to providing more than $2 million to encourage and support small businesses in the U.S. to scale, grow and develop. (eBay)
10. TikTok announces the launch of a product called Pulse Premiere that provides 50% share
On May 4, TikTok reportedly announced that it will launch a new product that allows publishers to place advertisements behind their posts. The product, called Pulse Premiere, is an evolutionary version of the TikTok "Pulse" project, which allows a group of elite creators to place video ads behind their TikTok posts and retain half of their revenue. TikTok said that while Pulse only offers posts to its top creators, the new product will allow participating publishers to advertise after all posts. Ray Cao, global head of monetization, product strategy and operations at TikTok, pointed out that TikTok hopes to support publishers and create new business opportunities for its own platform. (Interface News)
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