Michael Lv’ New Company Obtained the Largest Angel Investment in “New Retail” Led by Lightspeed China Partners as well as Zhang Tao, Wang Xing, Ye Shuhong, Wang Huiwen, Founders of Meituan-Dianping (China Internet Plus Group) as Individual Investor.
Xing Bian Li Obtained Angel Round Financing worth more than 100 Million, Lightspeed China Led the Investment and Founders of Meituan-Dianping Invested Personnally.
Introduction: Last week, Michael Lv, ex-President of Meituan-Dianping general business group, and ex-COO of Dianping.com announced to be engaged in retail and convenient consumption field together with the senior vice president of Lawson Japan. Today, the new company declared that it has obtained angel round financing worth one hundred million RMB led by Top VC Fund Lightspeed China Partners. Additionally, Zhang Tao, Wang Xing, Ye Shuhong, Wang Huiwen, founders of Meituan-Dianping, the leading enterprise in the local life services industry, also invested personnally. It has been the largest angel round financing in “New Retail” industry so far.
Angel round financing worth over one hundred million RMB indicates that Internet giants are all optimistic about convenient and immediate consumption industry for trillion RMB scale investment.
It only took less than a week for Michael Lv’ new company to obtain the investment of top VC fund as well as the founders of Meituan-Dianping like Zhang Tao, Wang Xing, Ye Shuhong, Wang Huiwen after its announcement to enter the convenient and immediate consumption industry. It proves these outstanding entrepreneurs in China who are changing people’s way of life with technology, are unanimously optimistic about the possibility to restructure the market of trillion that combines both offline and online platforms, especially how to combine the new life style of younger generation who prefer “one-person serving”, to develop the most frequent, rigid-demand and underate 500m immediate consumption economic circle on the offline consumers’ consumption circulation. Nowadays, more and more young users expect to spare more time on learning and recreation, and this phenomenon will greatly lead business to adapt to this change through reconstruction. When the new demand becomes increasingly obvious, the inflection point of operation reconstruction also arrives! It’s also one of the meanings of “second half of the Internet” proposed by Wang Xing. The company’s business strategy transfers to the vertical intensive business and corporate empowerment on the one hand, horizontally reconstructs the new offline and online model on the other hand.
Fast Merge and Construction of the Best New Retail Team Enables Xing Bian Li to Occupy the New Retail At the very Beginning.
The company announced today a merger with the OwithO (Shanghai) Ltd (the actual operator of Xing Bian Li (Euphony of New Convenience), the unattended convenient stands). After that, the new company will consistently use Xing Bian Li as the retail brand to establish a global presence in the New Retail industry. In the future, it will quickly rebuild and reconstruct the convenient consumption solutions suitable for China in accordance with the “new species in convenient and immediate consumption industry” conceived by the team. Retail industry in Japan and the United States have demonstrated different development paths. Due to the extremely developed credit card system, and the distributed suburbanization structure in the US, its retail gradually evolves into small and medium-sized warehousing shops with a complete package and specialized subdivision to provide services, while mobile payment has not been popularized there. As to Japan, there has derived a highly developed retail network due to its geographical features. Specifically speaking, one hundred thousand convenient stores and five million vending machines widely distributed have already met the needs of fast-paced urban life to the maximum, making e-commerce something of little value. Different from Japan, Chinese retail industry has been underdeveloped for a long time. It’s a chance for the e-commerce model to grow up quickly, and super e-commerce platforms like Ali and Jingdong rised. As consumption upgrades, user demand has obviously transferred from “blind stock up goods with low price” to “quality priority and immediate consumption” approach. Furthermore, customers pay more attention to the demands of “immediate, fresh, live experience” at present. Additionally, because of online flow stagflation, high cost of customer service and other reasons, the senior executive of Xing Bian Li said, “We believe that China absolutely cannot copy the model adopted by Japan, and there must be a new solution, especially the one in line with the young people’s new consumption habits. This situation is very clear to us.”
Strong attack, yet it’s just the first step.
Within two months, Xing Bian Li became the top platform in the field of unattended convenience shelves in terms of China’s urban coverage and network share, the core business data, whcih all significantly surpass other companies in the industry. Regarding the causes for its success, it may account to the powerful comprehensive strength of its founding team in the supply chain management, selection procurement advantages, excellent ground promotion ability, category operating experience and other elements. Xing Bian Li almost occupies the market in an absolute way, especially since it proposed to provide high-quality services in accordance with the high standards of “daily replenishment and weekly update”, “different shelves demonstrating different goods” firstly in the industry. “This is actually determined by the accumulated comprehensive strength, we know that the logistics of some companies’ convenient shelves is outsourced to third parties, and some goods are even low-quality goods that almost hit their expiration date purchased from B2B website or wholesale market. According to us, such a low practice will run into the bottleneck, after all, it is completely different with bike sharing.”
To Create a “New Species” of Immediate Consumption, Xing Bian Li will Become Chinese People’s Own “7-Eleven”.
The senior management team of Xing Bian Li almost perfectly composes two necessary key competitive elements in new retail: “mobile Internet capabilities + traditional retail knowhow”. From that, it is evident that Xing Bian Li wants something more than a 7-eleven, and to satisfy the experience of the modern young people to greater extent. Xing Bian Li officially declared that a considerable proportion of the money would be invested in middle office capacity construction and supply chain restructuring after financing.
As for Herry Han, the founding partner of Lightspeed China Partners, Xing Bian Li has the strongest team in the new retail industry, and the team members are startup veterans or leading persons in China’s internet and traditional retail companies with the capability to change the landscape of the industry. “We are very pleased to work with such superior startup team of Xing Bian Li, to create the best instant convenience shopping platform in China. In the next 6 months, Xing Bian Li will enter a phase of rapid development, bringing a never-seen-before global footprint and brand new experience to the market…”
According to Zhang Tao, ex-founder and ex-CEO of Dianping.com, “Xing Bian Li’s startup team knows new retail precisely, all team members are leaders in all fields, while Michael Lv even masters the Internet field. It occupies dominant position regarding the reconstruction capacity of user experience, product selection, supply chain and other retail core parts, which are actually the basis and safeguard of retail industry. Now the best time to reconstruct the new retail has just arrived, I believe that Xing Bian Li, our own new retail brand, will bring us a brand-new and more interesting experience, to which I am looking forward!
Company Name: OwithO Internet and Technology (Shanghai) Co., Ltd.
Contact Person: Singer Yuan