Is there any daily freshness?

As a virtue of virtue, Xu Zheng, the founder of the daily Youxian, may not have a bargaining chip.

In the last 24 hours, the daily freshness continued to stand on the cusp. In the early morning of July 28, "30 minutes of rapid business closed", followed by rumors that the company "disbanded within 20 minutes", "internal launch of large -scale layoffs", "arrears of employees' salary and performance" Completed, at night, "APP can no longer place an order."

At present, the confirmation of the news is that the daily shutdown has fully shut down the "rapid" business, which means that it has abandoned the main front positioning business, and only retains the next day, smart vegetable field, retail cloud and other businesses.

The "Daily Fresh Food Daily Recording", which was widely circulated on the afternoon of July 28, showed that the 200 million investment funds in the daily announcement of Youxian have not been delivered so far.

The news of "company dissolution" is denied daily. Daily Youxian responded to pineapple Finance. Under the big goal of achieving profitability, the company adjusted its business and organization. Some employees resigned. The company is currently actively seeking all possible solutions to maximize the protection of employees' rights.

"I don't know when the arrears of salary and performance can be issued. The company's statement is that the provident fund and social security will be paid in July, but the employees will be paid by the employees in August." According to a daily fresh employee, the company currently has only left. At present, only the company is left. There are more than 300 people, and there are more than 2,000 employees during the peak period.

The other ring is involved in the supplier. Several suppliers told Kai Pineapple Finance that they were owed to high amounts of high amounts daily, less than 200,000 to millions, and some of them were litigation with daily prefabricated.

Rumors of dissolving make the daily presence of freshly matched the performance of the secondary market. On July 28, the daily daily diving in front of the Daily Outstanding Stock Drive, once fell more than 40%. As of press time, it was only $ 0.135 per share, with a total market value of 31.86 million US dollars. It has fallen 99%from the IPO day.

And Daily Youxian has not disclosed the annual performance report of 2021, and the stock price has been below $ 1 for more than 70 consecutive days. He has received a warning letter from the Nasdaq's listing capital department twice, saying that it "does not meet it Continue listing requirements. "

I do n’t want to fall down every day, I am afraid that it is fresh. A freshman industry emphasized to open pineapple Finance for ten years that he does not want to see the ending of Daily Fresh Fresh, which has a great blow to the trust of the fresh e -commerce industry.

Xu Zheng said that Dechu's junior players watched the winning or losing, and the masters looked at chips. Fresh, who is still exploring the road, "fall down" a daily excellent freshness, and fresh entrepreneurs must work harder. They are summing up their experiences and lessons from the daily losses. Many practitioners said to Kai Pineapple Finance: The fresh fresh industry really needs to work hard to learn the traffic. Up; relying on stories that can't be replaced with investors' "white heads to old" ...

1. What happened to the daily freshness

There is almost no loud noise, and every day, the building is approaching the edge of collapse. After communicating with a number of people who follow the company, the pineapple Finance tried to answer some questions from the outside world.

What consumers see is that during this year's epidemic, how can you not place an order now?

On July 28, the daily freshness stopped the "Speed ​​Speed ​​Business" and adjusted the "fastest 30 minutes" on the APP to "fastest the next day". Speed ​​on the business, that is, within three kilometers of the daily freshness of the delivery address, you can enjoy the area where the service is delivered as soon as 30 minutes.

In other words, the daily freshness abandoned the front position. Since the beginning of this year, the rapid -speed business that has continued to withdraw the city has been completely closed.

On the evening of July 28, the bad news continued, and the APP was almost paralyzed. Daily Youxian APP can no longer place orders in Beijing and Shanghai. Opening pineapple Finance found that the goods can still be added to the shopping cart, but the page will appear "Sorry, the goods purchased in this order in the current address without stock" appear when paying.

Figure Source / Daily Youxian APP

Meng Qi, a senior practitioner in the retail industry, told the pineapple Finance that during this year's epidemic, Daily Fresh became a fresh e -commerce insurance unit. It can be transported every day and the business volume is steadily rising. He described that "the traffic is equivalent to the flow of the epidemic, and it can only be based on the ability after the epidemic." However, after the epidemic, the daily fresh market share was severely squeezed, but it continued to expand on a large scale, which eventually led to the increase in operating costs, and the capital chain could not keep up.

During this year's epidemic, the daily fresh users did reach the peak, and then fell quickly. According to the data of Taste Sailing, the active number of active people daily in April this year reached 13.57 million, and in June, the active number was 8.07 million. The data of two months fell by 5.5 million, returning to the average level of 2020.

After all, there is no money. What is the disclosed 200 million yuan financing?

On July 14, Youxian announced the reaching an equity strategic investment cooperation agreement with Shanxi Donghui Group every day, which will receive an equity investment of the latter 200 million yuan. However, according to a "Daily Fresh Labor Recording", the investment has been announced and filed in the SEC (US Securities Regulatory Commission), and has not been delivered so far.

Meng Qi believes that the biggest possibility is, "I found the money, but in the end they did not talk, or did not catch up with the node." Because generally speaking, the company's financing model will not be announced high -profile. If the high -profile announcement must be the next round.

He speculated that there is still a way that it will never happen on July 28, and if the layoffs of the day are true, it can only indicate that the company's management is very chaotic. What is the daily freshness left today? Is there any hope for the next day, smart vegetable market, retail cloud and other services?

More than one interviewee mentioned that it lost the speed of the maximum source of income, and the remaining business was of little significance.

An industry insider who is close to the daily freshness revealed that the income of the next day accounted for between 10%-20%. The next day is similar to the e -commerce platform. The daily freshness only needs a sorting position+distribution in front, and even the traditional express delivery is used after ordering, which is completely different from the original business logic.

The other two new businesses are not optimistic. Not only has it been launched in 2020 to now, it has not made significant contributions to revenue, but also because they are designed on the basis of the front warehouse business. The new business is zero, "Meng Qi said to pineapple Finance.

In his opinion, the daily freshness that retains these three businesses is a bit similar to Jingdong Fresh, but it has neither the traffic of the large platform, and the logistics has no advantages.

Second, from highlight to low valley, Xu Zheng’s three "gambling"

According to a "Daily Fresh Labor Recording", in the process of notifying the "layoffs and business changes" on July 28, Xu Zheng did not show up. The online meeting was chaired by a HRBP and the person in charge of the current product. Looking back at the past, since the establishment of Youxian every day, there have been three crisis of capital chain. Xu Zheng has received capital support every time, and he can stay on the card table.

The daily freshness encounters the crisis of the capital chain. The first time is 2014, the second is 2019, and once again now.

Two times, Xu Zheng wins.

Daily was born in 2014. The first pioneer was founded. The initial development of funds was quite tight. Because of the fact, Xu Zheng made his multiple sets of real estate mortgage loans. At that time, he showed "gambling", one of the mantras was "AII in". Just when he made all the net worth, that year, he received the angel round financing led by Guangxin Capital.

Photo Source / Tianyancha

Time came to 2015, and another fresh e -commerce company was born (now Pinduoduo) was also born. Xu Zheng seized the stories and told stories. It was easy to get money from May 2015 to 2018. September continuously financed 6 rounds, with a large round of capital injection of large capital parties such as Tencent and Tiger Global Fund.

Photo Source / Tianyancha

With the promotion of capital and the blank period of no opponent, even if the outside world has many questions about the business model of burning money, it still can't stop it with a blindfolding attitude. Until 2019, it encounters the biggest competitor- - Ding Dong buy food.

Established in 2017, Ding Dong bought vegetables, and began to expand nationwide after finishing B+financing in March 2019. In May of that year, Daily Youxian CFO Wang Jun revealed that it was planned to invest more than 1 billion yuan to hit the Shanghai market during the year, and to start a comprehensive competition in Shenzhen, Wuhan, and Southwest China and Ding Dong.

The subsidy war that opened in the summer was suspended for three months. According to public reports, almost 100 billion yuan was burned in one quarter. According to Tianyancha, from September 2018 to May 2020, Daily Youxian did not get any amount of financing. Compared with the speed of 1-2 rounds per year, it seemed very difficult.

Photo Source / Tianyancha

That year, a large -scale layoff was made every day. Former employees said that since then, the internal military heart has begun to shake. And this round of crisis also made Tencent reluctant to continue to bet capital, Xu Zheng began to raise money everywhere.

In 2019, the daily fresh and difficult raising funds, the dumb radish and other projects announced the shutdown, and the fresh e -commerce track borrowed a wolf. What I did not expect is that the fresh e -commerce industry will actually "get a death" under the black swan of the new crown epidemic. In March 2020, Daily Fresh Establishment won the favor of capital, and obtained three rounds of financing in May, July, and December, respectively. In June 2020, Daily Youxian was the first to go public in the U.S. stocks, becoming the "first share of fresh e -commerce", but it was broken on the day of listing.

After listing, the daily freshness continues to "bleed". From 2018 to 2021, the cumulative losses of daily freshness are expected to reach 10.8 billion yuan. Some media calculated that the company's 11 rounds of financing before the IPO merged a total of 11.4 billion yuan, which means that almost all the money comes has burned light.

Such a burning scale makes daily freshness live in tight funds. The daily financial report in the third quarter of 2021 shows that mobile assets are 3.086 billion yuan, while mobile liabilities are as high as 3.232 billion yuan. Migrant assets can no longer cover mobile liabilities. The most direct asset (cash and cash equivalent of 2.172 billion yuan, short -term investment of 131 million yuan) is also lower than the money repaid and paid (2.408 billion yuan) in the short term. The cash flow is seriously tight.

Some people in the industry have commented that every day from the establishment to highlight to today, it is more like a game that spends capital with Xu Zheng. In the past, although the capital knew that the front position model could not run, some people were willing to bet on bets. Just this time, Xu Zheng looked around and found that there was no one behind him.

Third, the daily losses are losing, can fresh e -commerce win?

In the past eight years, there are two roads in front of Youxian, either to quickly achieve profitability in operations, or go to investors to get money. But relying on my own road has not been running. Yu Mingyang, managing director of Celtic Asia, said after dismantling the unit's economic model that he had stated that it was the status quo to continue burning money.

If you want to make a profit, you have to increase the unit price of the customer, increase the gross profit margin, or optimize the cost of optimizing the order density. However, only a single item is improved. The operating profit of the single warehouse still cannot be righteous. At least two items are optimized. In areas with high order density and high customer unit price, the model can be righteous.

In other words, the difficulty of copying the short -term success in Beijing to the country can be imagined. From the listing to the present, the core issues of "the average unit price of the average customer, the low gross profit margin, and the high performance cost, and the high performance cost has not changed much.

The profit turning point of the front position business model has not arrived, but the daily frustration is not exactly the outside world. Talking about daily freshness should not only talk about model issues.

New retail expert Bao Yuezhong said to Kai Pineapple Finance that the organizational management of this enterprise had serious problems. A layoffs occur. The business that has been trapped in passive for a long time is forced by the pressure of competition. The money is used to subsidize the money to burn money.

In his opinion, the competition in the Chinese retail market is already very fierce. Daily freshness must be grabbed business from existing channels, especially the business super channels. The most concerned on the issue.

After the daily listing, Youxian quickly changed the road, cut off the number of front warehouses from 1500 in 2020, turned to tell the story of the digital vegetable market and the new business of retail clouds, but the results were very small.

"Xu Zheng's story is well told. The entrepreneurs and investors go further. It is not these, but that these are not, but to camp and fight." A fresh fresh industry said to open pineapple Finance for ten years.

Looking at the daily freshness, the outside world is probably easy to make judgments. The daily freshness is not good, and it is also difficult to buy food in Ding Dong. It is difficult to go to the front warehouse, and even have skeptical attitude towards fresh e -commerce. More than one interviewee said that such a judgment could not be made, and the front warehouse had its value. Of course, it was necessary to think clearly.

Bao Yuezhong analyzed the pineapple financial analysis and made the front warehouse as an independent model to start a business. The difficulty is really difficult, but if it is embedded in a mature business system, it will be integrated from the three models of retail, retail and community retail to do it. Retail is more promising.

Meng Qi also said that putting the front warehouse to a larger ecology can help the platform save costs. He takes Meituan as an example. It may be difficult to make money in Meituan alone, but it can help Meituan save money, expand category, push up flowing water, ensure the efficiency of the distribution system, improve the bargaining of suppliers 'negotiations to suppliers' negotiations. Power, even pushing up the stock price.

He described the fitness scene that when the Meituan bought food, he had his own house. He bought a runner in his home and lived in the rental house every day. The rational choice of fitness was to go to the gym. , Waste money and occupy places.

Back to the scene of selling vegetables, Meng Qi believes that the pattern of fresh e -commerce is one or two independent, and other small ones have certain advantages in the area.

"The daily losses are defeated, but fresh e -commerce will not fail. Fresh e -commerce is an inevitable trend." Bao Yuezhong believes that companies on the track will summarize the experience and lessons of the loser.

The above -mentioned practitioners said that whether it is business dimension, industry dimension, or social dimension, the revelation that Yiguo Fresh and Daily Fresh gives us are forever. Fresh is the oldest and most traditional industry in China. It enhances China's upstream facilities, scale, standardization, and branding. The most important thing in the Chinese fresh fresh industry is to do not fight, strengthen the category, and do less games.

Author: Su Qi, Jin Yan; Editor: Ai Xiaojia

Source public account: Kai Pineapple Finance (ID: Kaiboluocaijing), pay attention to live broadcast e -commerce, new consumption, focus on in -depth content.

This article is issued by everyone's cooperation media@本 本 本 本. Reprinting is prohibited without permission.

The question map is from UNSPLASH, based on the CC0 protocol.

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