Rebirth 2010: I taught Mr. Lei how to make a mobile phone

Chapter 590 Xiao Mo's Foot Massage
Baidu's strategic layout in the O2O field began in 2012, when Internet giants had been fighting in this field for a long time.

In order to seize the market opportunity, Baidu spent US$1.6 million to acquire Nuomi.com, renamed it Baidu Nuomi, and invested heavily in technology and product upgrades.

In early 2013, with Zeng Liang taking on the role of general manager, Baidu Nuomi officially launched its entry into the market.

Robin Li’s strategic vision is very clear: relying on Baidu’s huge traffic advantage and using group buying business as the core link, connect a large number of small and medium-sized businesses.

Once the market share is consolidated, it will then achieve commercial monetization through its core paid ranking advertising model.

This asset-light, fast-turnover business model can not only quickly boost Baidu's performance growth, but also effectively counter the outside world's doubts about its "falling behind in the mobile Internet era."

At that time, Baidu was strong and powerful, with hundreds of billions of cash flow on its books.

Although they entered the market relatively late and the group buying market structure has been initially formed, latecomers still have a chance to turn the tables in the face of a subsidy war of real money.

Facts have also proved that with the dual support of Baidu's traffic and huge subsidies, Baidu Nuomi surpassed Dianping in just one year and jumped to second place in the industry, second only to Meituan.

Last year, when Baidu saw Ele.me emerging as a dark horse in the food delivery field and Meituan also accelerating its layout of food delivery business, it naturally did not want to lag behind.

Thus, Baidu Takeout came into being. The company mobilized thousands of field sales forces, invested billions of funds, and sent a core management team headed by Gong Zhenbing to try to replicate the successful path of Baidu Nuomi in the group buying market.

However, this time, Baidu's wishful thinking failed.

Who would have thought that Baidu Waimai would encounter unprecedented resistance, whether it was burning money for subsidies or investing resources, like a small sampan directly hitting the huge ship on the other side.
Li Yanhong's decision to sell Baidu Waimai was a helpless one. This decision reflected three fatal flaws in Baidu's O2O strategy:
First, organizational management fell into chaos.

Although Baidu Takeout claims to have nearly 10,000 field sales staff, with only more than 5,000 actually registered, its management system is non-existent.

In the field marketing war at the beginning of the year, compared with the well-trained iron army of Bi'an and Meituan, Baidu's riders were like scattered soldiers with a huge gap in combat effectiveness.

A former senior executive revealed: “Our field sales team has not even been able to standardize basic business processes, let alone establish an effective incentive mechanism.

Secondly, the subsidy strategy suffered a double blow.

On the one hand, the crazy spending of money not only failed to bring the expected results, but also bred serious corruption problems within the company.

Baidu’s internal audit report showed that in some areas, up to 30% of subsidy funds were misappropriated.

On the other hand, Baidu's proud strategy of "burning money for market share" failed for the first time, and the input-output ratio continued to deteriorate.

Data shows that Baidu Takeout’s subsidy cost per order is 2.3 times that of its competitors, but its market share continues to decline.

Third, payment shortcomings constrain development.

Despite having the "Quick Money" payment tool, internal departmental barriers have caused its development to lag seriously.

A product manager admitted: "The payment department and the food delivery team are independent of each other. It takes two months to connect a simple payment interface."

This internal friction directly caused Baidu to lag behind its competitors by at least 18 months in the key payment experience.

In the end, Baidu Takeout was caught in a dilemma: it couldn't afford the subsidy war, and it couldn't win the operation war.

Even though they invested several times more than their competitors in the later stages, the market share gap continued to widen.

It may be a wise move to cash out at a high level during the industry consolidation period.

This deal is a win-win for all parties:

Baidu has obtained valuable cash flow. In addition to strategic investment in Meituan, it can focus on the tourism and travel sector, and Ctrip will become the next prey;
Although Wang Xing has little interest in the Baidu Takeaway team, he is interested in the LBS capabilities of Baidu Maps, which will strengthen Meituan's local service ecosystem.
Tencent-affiliated Dianping has received strong reinforcement, with the joining of former Alibaba star Lu Guangyu, injecting fresh blood into Meituan.

At this moment, Meituan is in a strong position: it has tens of thousands of elite soldiers, the support of the three giants BAT, $15 billion in ammunition reserves, and a valuation of $120 billion, far ahead of Ele.me's $90 billion.

However, how to transform scale advantages into market advantages remains the biggest challenge facing Wang Xing.

Industry observers pointed out: "The food delivery war has entered a deep water zone. After the competition of capital and traffic, the real test lies in the ability to refine operations."

On October 10, Ele.me officially launched the "Blue Rider Plan", marking a comprehensive upgrade of its rider protection system.

The plan includes three core initiatives: first, to pay the personal portion of five social insurances and one housing fund for all riders; second, to fully bear the costs of riders’ vehicles, work clothes and other equipment; and third, to launch a new intelligent dispatching system called “Hummingbird”.

The new system not only realizes intelligent and balanced distribution of orders, but also pioneers the "income visualization" function, allowing riders to view estimated income in real time.

Platform data shows that after the system was launched, the proportion of riders with daily income exceeding 37 yuan increased by %.

At the same time, Ele.me launched the "Super Speed ​​Delivery" service commitment for users: overdue orders will be automatically compensated with vouchers; and a commission reduction policy will be implemented for merchants, with the highest reduction reaching 45%.

Li Wu, vice president of platform operations at Ele.me, said: "We not only want to provide consumers with affordable food, but also want merchants to make money with peace of mind."

Faced with the challenge, Meituan quickly fought back within 48 hours.

On October 10, Meituan Waimai launched the "Golden Merchant Plan", offering three killer features:

Exclusive merchants who sign contracts can enjoy a 5% discount on commissions; obtain display in the prime traffic position on the homepage; and the field sales team is equipped with mobile POS machines to provide "7-day ultra-fast payment collection" service (the industry average payment collection period is 15 days).

The director of Meituan’s business analysis department revealed: “The first batch of merchants signed up for the plan has exceeded 2, and the daily transaction volume has increased by 210% month-on-month.”

This subsidy war quickly evolved into an all-round market competition:
Online public opinion war: negative reports from both sides broke out.

The Daily Economic News disclosed the exclusive agreement terms that Meituan required merchants to "choose one of two";

Caijing magazine exposed Ele.me's stringent assessment standards for merchants.

Offline conflicts escalated: Meituan's local sales teams in many places hung banners in front of Ele.me's contracted merchants, saying "This store only accepts Meituan deliveries." On October 10, a group conflict between riders from both sides even occurred in a business district in Zhengzhou, resulting in three minor injuries.

In this fierce competition, consumers are the biggest beneficiaries.

Ms. Zhang, a white-collar worker in Beijing, said: "It is more cost-effective to order takeout now than to cook. I only spent 60 yuan on five takeout meals last week. On average, I can have a hearty takeout meal for just over 10 yuan, which is cheaper than the Lanzhou ramen downstairs in my office."

But industry insiders warn that such irrational subsidies are difficult to sustain and the industry may usher in a new round of reshuffle.

On October 10, a Gulfstream G18 business jet flew from Beijing to Seoul and broke through the clouds.

In the cabin, Chen Mo was reading the annual financial report of Samsung Group, while Lei Jun was reading the news about Samsung CEO Lee Kun-hee being hospitalized. He occasionally glanced at the foreign stewardess with an exaggerated figure and secretly complained that this guy really knows how to enjoy himself. No wonder he always complains about back pain.
Both teams went to South Korea with clear missions: Lei Jun wanted to lock in the supply of core components such as chips and screens for Xiaomi's next-generation flagship, while Chen Mo wanted to promote strategic cooperation between Xiaomi and Samsung in software.

"It seems that Lee Kun-hee's situation is more serious than we thought. The big sister you have been thinking about seems to be marginalized. You are very cruel and just watch from the shore." Lei Jun closed the tablet and joked to Chen Mo opposite him.

"When it comes to the feuds between wealthy families, it is safest to watch the fire from the shore. Beauty has never been the most important thing to me."

In May this year, Lee Kun-hee, the head of the Samsung empire, was hospitalized due to a sudden heart attack. This technology giant, which controls 5% of South Korea's GDP, is facing a critical moment in power transfer.

It is rumored that Lee Jae-yong is about to take over as vice chairman, and these subtle changes may affect the direction of cooperation.

"However, I have communicated with Lee Boo-jin over the phone before, and some things can only be decided after we meet in person and talk." The sea of ​​clouds outside the porthole reflected Chen Mo's slightly frowned brows.

When the special plane landed at Incheon Airport, Samsung Electronics President Kwon Oh-hyun personally greeted him.

On the way to the Suwon headquarters, the convoy passed by Samsung Digital City, where Samsung's 21.3% share of the global smartphone market last year came from.

The afternoon schedule was tightly packed.

While visiting the Samsung Innovation Museum, Chen Mo took a closer look at the first-generation Galaxy Note in the display cabinet - this phone, released in 2011, ushered in the era of large screens.

In the subsequent closed-door meeting, facing a room full of Samsung executives, although Chen Mo maintained a decent smile throughout, he quietly drew cartoons on his notebook while Lei Jun was discussing cooperation with them.

At the welcome dinner that day, Chen Mo, who was socializing, keenly noticed that the surroundings froze for a moment. He raised his eyes as if he had sensed something, and saw a slender figure coming against the light at the gilded door of the banquet hall.

Lee Boo-jin wore a high-end black dress with sharp tailoring that outlined a smooth waistline. Her fingertips lightly rested on the champagne glass, her chin slightly raised to reveal the elegant curve of her neck, just like a black swan flying through the flashy world.

The eyes of this three-star princess were still the same as Chen Mo remembered, with an innate sense of alienation and weariness, and a temperament so cold that people dared not approach her easily, as if she had a sense of world-weariness and lack of interest in everything in the world, but it seemed natural because of her inherent nobility.

Time never defeats beauty, and God seems to be particularly fond of this chaebol princess.

Lee Boo-jin, who is over 40 years old, looks like she is in her early 30s. Her grace and temperament overwhelm the entire audience. She is even more beautiful than the socialites in their early 20s present. She is far from being comparable to the beautiful stars under the spotlight.

When Lee Boo-jin's frosty eyes swept across the crowd and met Chen Mo's gaze, the ice and snow began to melt, and it was a fleeting smile that only he could capture.

Chen Mo noticed that when she looked at those fawning guests, a barely perceptible boredom flashed across her eyes, as if she was looking at trash. Even if these people held high positions in Korean society, they were still trash who needed help from her family.

Then, while everyone was toasting and greeting each other, the two of them found an opportunity to slip away to the empty observation deck in tacit understanding.

When the glass door of the observation deck closes silently, isolating the glitz and glamour inside, it is a rare opportunity to enjoy the tranquility of the moment.

Under the moonlight and in the night breeze, the man is tall and graceful, and the woman is beautiful. The two of them standing side by side complement each other, like a beautiful painting.

Lee Boo-jin shook her champagne glass and chuckled, "I heard that you made big news in Beijing again? You were able to confront the two Mas and one Li, and I have known them for many days. I am really impressed by you."

The night breeze of the Han River in October tore away the warmth of the past and swept across the observation deck. Looking at Lee Boo-jin beside me, she involuntarily hugged her shoulders, like a snow lotus swaying on the edge of a cliff in the wind, lonely and fragile.

Perhaps thinking of the other person's current situation, Chen Mo's eyes darkened and he neatly took off the high-end suit jacket she bought last time.

When the custom-made coat with body temperature fell on Lee Boo-jin's shoulders, he could clearly feel the slight trembling of her thin body.

"It's nothing, just a little bit of bruises. I'll tell you about our cooperation when you come to my room tonight."

Lee Boo-jin just lowered her eyelashes and did not refuse
Late at night, in the presidential suite on the top floor of the Shilla Hotel.

"Ah, it hurts." Lee Boo-jin frowned slightly, and her slender fingers unconsciously grasped the bed sheets.

"Don't be so tense. I'll be gentler. Just bear with it for a while, and you'll feel better in a moment."

Chen Mo held up the jade foot, circling the arch of the foot with his fingertips, and pressing it a few times in a serious manner.

While chatting at the table, Lee Boo-jin inadvertently mentioned the time when she broke her ankle at a horse racecourse in Jeju Island.

Chen Mo immediately perked up upon hearing that. He shamelessly boasted that he had learned some Chinese massage techniques and insisted on treating her on the spot.

At this moment, she was leaning on the velvet pillow, and the curves faintly visible under her silk nightgown outlined an elegant arc in the light.

Seeing Chen Mo's serious look, Lee Boo-jin's eyes moved, and she acquiesced to this slightly abrupt request half helplessly and half amusedly.

The three-star princess' ankles are slender yet flexible, her skin glows like a pearl under the light, and even her well-trimmed and rounded nails are a light cherry blossom pink.

Chen Mo felt the silky touch in his palm and couldn't help cursing inwardly, because he remembered that a tabloid once said that the eldest princess had a deformed foot. At this moment, he just wanted to pull that reporter over to the scene to see it for himself.

Taking advantage of the topic of Chinese medicine massage, the two gradually deepened their conversation.
The warm yellow light cast the figures of the two people on the floor-to-ceiling windows.

Outside the window is the dazzling night view of Seoul, while inside the window is an intriguing and beautiful scene.

As the night deepened, the crescent moon seemed to have seen something shameful.

Hiding shyly in the clouds, squinting my eyes and looking around secretly
(End of this chapter)