Thesis: Why did Suning.cn and Wanda do e-commerce?

what happened to Wanda e-commerce behind frequent coaching changes? This Internet product, born with a golden key, seems to have nothing to be proud of except the farce of the rotation of executives. Blue Whale TMT visited a large number of Wanda e-commerce employees, trying to find out: the real crux of this giant e-commerce.

on August 29th, 214, Tencent, Baidu and Wanda announced that they had jointly invested 5 billion yuan to set up Wanda e-commerce company. It has been more than one year, and no more achievements have been seen except Feifan.com, which was launched less than two months ago. At present, the financial status of Wanda e-commerce has not been reflected in the financial report of Wanda Commercial, a listed company in Hong Kong.

at the beginning of the establishment of Wanda e-commerce, some people even worried about Ma Yun, speculating that the future e-commerce pattern may change due to the intervention of Teng Million, and the e-commerce field may no longer be dominated by Ali. It was not until July 31 this year that Feifan. com was officially put into operation that people realized that they were worrying too much.

At the beginning of its launch, Feifan. com only had three columns of catering, movies and points on its home page, and there were four quick entrances for catering, movies, entertainment and players on its side. There were very few categories of catering, and all of them were distributed in the form of free vouchers. Under the category of movies, you can see the most popular movies recently and support online seat selection, but the cinemas only supported Tongzhou, Changping, Shijingshan and wanda plaza, Jianguo Road, Chaoyang District. However, the content of entertainment and player services is repeated, and they are all game services for big players; Integral maintains the inherent service of wanda plaza and provides integral exchange. In the face of Feifan.com, some market participants lamented that Feifan.com, which was smashed by an e-commerce company with an investment of 5 billion yuan, actually looks like this.

one month later, feifan. com has not changed much except that it has improved the catering classification, added a new hotel entrance, and integrated players and entertainment into one category. Although Wang Jianlin, the chairman of Wanda Group, said from the beginning that Wanda's e-commerce model is different from that of Taobao and JD.COM, Feifan's performance has disappointed many people.

The reasons for success are always similar, but the reasons for failure are different. Recently, Blue Whale TMT interviewed relevant insiders and talked about the problems existing in Wanda e-commerce in their eyes.

Lack of clear top-level design

When talking with Blue Whale TMT, the former core executives of Wanda E-commerce said that the core problem of Wanda E-commerce at present is that although it has big development goals, it lacks clear top-level design of development path, and its role in Wanda business empire should be clearly defined.

Wanda Group has made some changes in the positioning of Wanda E-commerce. At first, Wanda E-commerce was to provide Internet transformation support for wanda plaza. The e-commerce industry is booming. In the first half of last year, Wanda Commercial was also listed in Hong Kong. At this time, Wanda Group changed Wanda E-commerce from a supporting business in wanda plaza to a pillar business of Wanda Group.

The above-mentioned core executives believe that Wanda's general trend of e-commerce is right, but within Wanda, it is necessary to smooth the positioning of Wanda e-commerce and the relationship between Wanda e-commerce and various companies in the group, and give Wanda e-commerce leaders the right to speak.

In addition, the interviewed executives also specifically mentioned that Wanda Group started from real estate and implemented semi-military management. Unlike pure internet enterprises, the will of the chief executive is very important, and some things are not played according to the internet, and the requirements for dress and punching are also strict.

because of this, after working in Wanda e-commerce for a period of time, this executive chose to leave his job and transferred to another Internet company as a VP-level executive.

Another Wanda employee interviewed suggested that Wang Jianlin didn't seem to use WeChat and rarely used the Internet. He learned about the mobile Internet mainly through meetings. The information told by others was very different from his personal experience. As the leader of Wanda, can you have an intuitive and accurate understanding and positioning of the Internet only by understanding the rapidly changing world through second-hand information from others? Can you do a good job in Internet products?

at first, the market had great expectations for the role played by Tencent and Baidu in Wanda e-commerce, but actually it was not great. The source said that on the one hand, they did not invest much, and Wanda was still the mainstay. In addition, the advantages of Tencent and Baidu are mainly concentrated on the advantages of technology and traffic, but the core problem of Wanda's e-commerce is its own positioning and the relationship with various internal formats. Wanda's more than a dozen formats are equivalent to more than a dozen departments of the government.

In the field of Internet, the development of each format of Wanda is different. For example, Wanda Cinema is the most successful one, which cooperates with online and offline companies such as Cat's Eye, Public Comment and Taobao, and has invested heavily in the field of Internet marketing. However, some formats are still in the initial stage of internetization. The Internet development of various formats is uneven, and the cooperative relationship between Wanda E-commerce and various formats is subtle, so it is difficult to go hand in hand. Companies in various formats are also observing whether Wanda e-commerce has enough ability to do integration work.

In the future, there are many options for the relationship between Wanda E-commerce and various formats of the Group. For example, each format will continue to do its own thing and share the underlying data with Wanda E-commerce, and Wanda E-commerce will provide the underlying services for each format. Or the Internet services of all formats are all taken over by Wanda E-commerce.

whether Wanda e-commerce should be integrated at the bottom of various companies or fully taken over has a great debate internally.

it is conceivable that all formats are based on their own interests. if Wanda e-commerce wants to take over all formats to tell the internet business, the right to speak of all formats will be greatly reduced, which is very difficult to promote. In addition, Internet companies are accustomed to adopting a free business model, and then the wool is on the dog, and the fee-based business is the main source of revenue for traditional formats. It is difficult to accept that the performance brought by the free business model is temporarily damaged. As a result, there are many disputes between various formats and Wanda E-commerce that need to be coordinated and handled.

Excellent Internet talents are hard to attract

A recently resigned Wanda employee emphasized to us that Wanda E-commerce is now the fourth generation leadership team. According to reports, some employees who come to work for Wanda E-commerce are directed at high salaries to a certain extent, and some are employees who have been laid off in the Internet field and have a bad reputation, rather than how high their ideals are for the Internet industry. Simply for the sake of high salary can easily lead to the working state of muddling along. The quality of these employees has limited the development of Wanda e-commerce to some extent.

Some people think that employees of well-mixed Internet companies are generally reluctant to work in traditional enterprises, mainly because it is difficult for both parties to adapt to each other. Wanda e-commerce has spent a lot of effort in attracting talents, but there is still a gap with the ideal talent structure. In particular, although Wanda E-commerce has great development goals, it lacks effective top-level design, and there are also differences in management with ordinary Internet companies, which makes some outstanding external Internet talents flinch from Wanda E-commerce.

In p>212, Wanda E-commerce began to be established. In December of the same year, Gong Yitao, senior director of Alibaba's international trading technology, became the CEO of Wanda E-commerce. At the same time, he also recruited people from Internet companies such as Google and e-commerce websites to serve as executives, thus forming the first generation of leadership teams.

in June, 213, it was rumored that Gong Yitao, CEO of Wanda E-commerce, left, and then Wanda invited CIO Zhu Zhanbei to take over Wanda E-commerce, forming the second generation leadership team of Wanda E-commerce.

In March p>214, Gong Yitao officially announced his resignation. In July of the same year, COO happy ma announced his resignation.

in August p>214, Wanda e-commerce company was formally established, with Dong Ce as CEO, Gao Xia as COO, and Cao Dajun as CTO, former CIO of Newegg Greater Los Angeles, forming the third generation leadership team.

In June this year, Dong Ce, CEO of Wanda E-commerce, announced his resignation. At present, he leads Wanda e-commerce for the fourth generation team.

frequent changes in Wanda's e-commerce executives are no longer news. It has been three years since Wanda E-commerce was established in 212. In the past three years, Wanda E-commerce has changed its CEO and COO twice. It seems that it is difficult for senior executives of Wanda E-commerce to do it for one year. According to media statistics, the brain drain rate of Wanda E-commerce exceeds 5%, and a large number of talents are lost, which also directly leads to the stagnation of some businesses during Wanda E-commerce.

As soon as Dong Ce announced his resignation, Wanda E-commerce posted a job posting with an annual salary of 8 million on the Internet, but the CEO candidate is still a mystery.

Previously, Wang Xing, founder and CEO of Meituan, broke the news in Weibo, saying that he had received a message from a headhunter asking if he would like to be the CEO of Wanda E-commerce. Recently, there were rumors that Suning.cn, vice president, might take over as CEO of Wanda E-commerce, but Suning denied it soon.

regarding the opinion of CEO candidates of Wanda e-commerce, people familiar with the matter said that in China, there are few people who know both business, Internet and consumers. Within the scope of his contact, Wang Xing is the best candidate to save Wanda e-commerce, but he also stressed that this possibility is relatively small. In addition, it is also a question whether Wang Xing's personality and Wanda's senior management can be accommodated. Previous personnel changes also have reasons of disagreement in personality and work ideas.

According to reports, one of Wanda E-commerce's previous ideals was to serve shopping centers all over the country, including Wanda Group and Wanda Group, and optimize offline processes with the Internet. The ideal is full, the reality is skinny, and Wanda's idea is difficult to realize in reality. At present, there is no news that Wanda cooperates with a shopping center. On the one hand, wanda plaza is a competitor with shopping centers all over the country. On the other hand, the general direction of Wanda's e-commerce is right, but how to implement it has not been fully understood.

A former employee said that Wanda is very similar to Suning, but in terms of e-commerce, Wanda lacks Suning's courage to resolutely become an e-commerce. Suning even changed its company name to Suning Yunshang. Feifan. com is only part of the great vision of Chairman Wang Jianlin, and it is still far from the ideal state. Wanda e-commerce still needs to continue to explore.

At present, the physical commerce and Internet in Tengmillions are still two skins, and Wanda e-commerce is still a concept. Wang Jianlin feels that if offline business is to be successfully extended to online, it is necessary to find successful people and experienced people. As a result, there was cooperation with Suning.

There are rumors that Wanda E-commerce will move to Shanghai, because Wanda has built a piece of land in the south of Pudong New Area. The local authorities hope that Wanda Group will put some of its business in the past, and Wanda may put its headquarters in Shanghai for two emerging businesses, namely finance and Internet. It is still a question whether Wanda E-commerce will regroup its team in the future, and the road to revitalizing Wanda E-commerce in the future has a long way to go.