"Living Bodhisattva" Fun Store Luo Min, "Think that it can be exchanged for everything"?

Produced ｜ Pai Finance

Text | Editor of Maria ｜ Paid Son

On the evening of June 15, Luo Min opened the live show on Douyin to bring goods to the new project "Fun Store Pre -production".

Luo Min's premiere was not surprised. On the evening of July 17th, Boss Luo's boss came again. He invited the star Jia Nailiang to take the platform to win 250 million GMV results in one fell swoop. The famous name, the limelight even covered the "East Selection" next door.

When introducing himself, Luo Min has always emphasized that "like Mr. Yu in New Oriental, I am doing business transformation." But he also denied that the prefabricated dishes in the store were benchmarking "Oriental Selection".

He said: "The prefabricated dishes and the oriental selection positioning and business are different, and the comparison cannot be compared." The second day when Qudian created the "miracle", after a high -profile conference, Luo Min walked into the "Oriental Selection selection "The live room, brushed multiple" Carnival "and" Rockets ", but was" dismissed "by Dong Yuhui, the oriental selection of Dongfang.

It has been repeatedly discouraged, and "Eastern Selection" was black. On July 19, Luo Min released the video to respond to being hacked, saying that he was not malicious and was very wronged. Later, Boss Luo specifically explained the matter and started live broadcast.

The current related videos have been deleted. However, Boss Luo's move was crusade by public opinion. In his Douyin comment area, there were some comments that discussed the fun camp of the fun shop loan business. At present, the Boss Luo's comment area has been closed, showing that "the author only allows mutual friends to comment."

Dong Yuhui subsequently explained in the live broadcast: "Oriental selection is the company's number, which has nothing to do with my person. The director's brother has just graduated from college, and sometimes some personal grievances. He wants to pull black.

The business has transformed more than a dozen times, and it is still difficult to escape the haze of "the originator of the campus". And in Luo Min's business cognition, you can get everything. But, is this the truth?

1. Buy data to make potential, lose money and make money

The new trembling data shows that on the evening of July 17, the live broadcast of the live broadcast of Qudian reached 250 million yuan, and the live broadcast room liked more than 600 million, and more than 900,000 people watched it online at the same time. According to the official disclosure of Qudian, a total of 95.87 million live views on the day of the live broadcast were 95.87 million, and the cumulative sales volume in a single day was 9.56 million copies.

In the live room of "Boss Luo" that night, the "one penny" tag label was always hung in the dazzling position in the upper left corner of the live room.

In the live broadcast room, Luo Min, CEO of Fun Store, and Jia Nailiang, the spokesperson for Fun Store prefabricated dishes, explained hard. In addition to the sauerkraut fish with a penny, there is a piece of nine small fried meat and nine pieces of pink steamed meat.

In the live broadcast room, Luo Min told the inspirational story from Jiangxi County to the New York Stock Exchange.

In order to create a live broadcast of this 2.50 million GMV, the marketing costs of Qudian were as high as 100 million yuan in the entire live broadcast of the Internet.

On July 12th, five days in advance, "@趣 7 7" used 80 short videos to drain to live on the live broadcast; Earlier, according to several media reports, the publicity case price of Weibo searches has exceeded one million.

In this 19 -hour live broadcast, in addition to providing hundreds of thousands of low -cost products, Boss Luo also prepared 1,000 iPhone13 in the live broadcast room and sent five units every five minutes.

Jia Nailiang mentioned in the live broadcast that 200,000 single products were sold, and in the case of "shaving logistics and shaving costs", the loss of about 5 million yuan.

"Losing money is to allow everyone to taste our prefabricated dishes in this process." Luo Min calculated on the spot, calculated at the price of 19.9 yuan per product, plus the courier fee for cold chain distribution, each sold for each sale. For a product, Fun Store will lose more than ten dollars.

Some media quoted third -party data that 87%of the live broadcast rooms from the live broadcast room came from live broadcast DOU+heating live room, Feed flow, external drainage and other channels. Some people in the industry said that the ROI in the live broadcast room of the fun shop was too low, only 0.05.

Most of the user fans in the live room are coming for the wool. Once they stop the money subsidy, I am afraid that no one will pay for it.

Boss Luo was afraid of burning money to make a drink this time. However, he said during the live broadcast, "Don't worry about my loss, I have money, and the money is too much interesting."

Luo Min once said that it was "10 billion cash on the account". According to the financial report of the Fun Store, as of March 31, 2022, Qudian had about 354 million US dollars in cash and cash equivalents, restricted cash of about 36.1 million US dollars, and total assets reached 2.146 billion US dollars.

After the live broadcast, the stock price of Qudian rose the next day. On the second day of the live broadcast, Qubian Ka Hot was held in Xiamen's strategic launch conference in Xiamen, and launched an investment promotion with the concept of "entrepreneurship with users and fans" as a gimmick.

Luo Min was passionately announced at the press conference that the Fun Store plans to support 100,000 users to start offline stores in the future, thereby opening the offline market.

This type of user who recognizes the prefabricated store prefabricated dishes is called "entrepreneurial partners", and the cooperation between stores and fun shops belongs to the franchise model, but it does not charge the franchise fee. Commodity sales, etc.

The biggest highlight of this press conference is that Luo Min said that even if the store does not have enough funds to open a store, we can borrow money. "We can provide one -year interest -free loan for entrepreneurial partners." The main force of China Merchants was aimed at Bao Ma this time. In the subsequent live broadcast, Luo Min called on Bao moms to join the prefabricated dishes. He also said that as long as the Baoma opens a prefabricated store near the nearby in the community, only 50 dishes are sold every day, and they can easily earn thousands of income every month.

Similar to the routine of the campus loan of Fulong University.

2. The defeat repeatedly, losing in the thought that "money can solve everything"

For a long time, Luo Min's image to the outside world is a founder of over -confidence.

This is unreasonable to his youth. At the age of 25, he won the first angel investment and founded a fun shop at the age of 31. Three years later, he took a fun shop to the New York Stock Exchange. Essence

This is even higher, and it has given Luo Min's strong confidence. In Luo Min's business philosophy, smashing money can solve everything. Throughout its past projects, you can see the shadow of smashing money to subsidize the way, expand the volume, and then quickly and large -scale shadows.

In 2015, just after the Internet financial offer period, after seeing the "installment music" founded by Xiao Wenjie, who was also a native of Jiangxi, has achieved a small achievement, Luo Min walked into the campus with "fun installment". The leaflets that can buy apples are full of campuses of major universities.

That year, Qudian received the capital injection of Ant Financial, and received the traffic entrance of the Alipay Jiugongge. Under the drainage of Alipay, the business development of the fun shop was developing rapidly. After two years, it was successfully listed in the United States.

In October of the same year, the business of the car leasing was enthusiastic about capital. The melon -seed used car founded by Yang Haoyong received nearly one billion US dollars in financing in just one year.

Luo Min personally led the team to incubate the staging of Dabai and moved out of the OMO business model of online and offline integration. The self -built store is established offline, the direct rental is collected, and the sales target of 100,000 vehicles will be sold in 2018, and it is threatened to become the world's largest car retail platform.

However, the development of Dabai Automobile is not as good as schedule. By May 2019, the entire business fell into a shutdown.

Less than a year after Dabai Auto went offline, Luo Min opened another new business exploration. In March 2020, cross -border luxury e -commerce platforms were officially launched, claiming to subsidize tens of billions.

During the same period, Koala sea purchase was acquired by Ali for $ 2 billion, and the valuation of the old cross -border e -commerce foreign code also reached 7 billion highs. In June 2020, Qudian will hold about 28.9%of the shares of Siku at the price of more than $ 100 million, becoming its largest shareholder.

In this vent, for fun shops that are scarce in the two -way luxury and e -commerce background, it is undoubtedly a gambling for the luxury e -commerce platform. Soon problems such as frequent fakes were exposed, and the supply chain was not sound. The project also failed.

At the end of 2020, Qudian once again turned his sights on the new air outlet. The online education track "Miles Miles" provides a self -operated quality complex for K12. 3 billion yuan, the number of stores is expected to reach 100 in 2021.

However, in 2021, the education industry ushered in the strongest supervision in history. With the implementation of the "double decrease", the K12 education industry has shrunk rapidly, and the old education institutions are still alive. In March 2022, Luo Min issued a message in the circle of friends to say goodbye to "Thousand Miles".

At the same time, Luo Min locks his eyes on the latest air -made pre -made vegetable track, seamlessly connecting the "Miles".

Throughout Luo Min's many entrepreneurial experiences, the wind chased was diligent, but he did not eat a bleach. From Dabai Automobile, Wanli Mu, Wanli Eyes, prefabricated dishes, etc., at least 11 tracks were tried.

The business attempts of Qubian over the years have been defeated and defeated. In this regard, Luo Min's explanation was that he lacked patience about the business at that time. Often, the project was stopped when he lost some money. Without shares, how can you make that project? "

However, according to Luo Min, the prefabricated dishes are the second entrepreneurial entrepreneurial in the real sense of Qudian, because the previous business attempts were not herself.

This time Luo Min made up his mind to lose money. In his opinion, Qudian was not bad, and he smashed.

3. Following the "town as a questioner" many times

"Like Mr. Yu in New Oriental, I am doing business transformation." This is a sentence that Luo Min repeatedly mentioned in the live broadcast room.

It is worth a joke that in the past 17 years, he has done countless times, like Li Yanhong, like Wang Xing, like Ma Yun and Liu Qiangdong.

Unlike many big brothers he mentioned, Luo Min, a "town is a questioner" from his life or education background.

In 1983, Luo Min was born in a small town in Yihuang County, Jiangxi. Luo Min's grades were not outstanding during the student period, and even occasionally hanged. He graduated from the School of Physics and Communication Electronics of Jiangxi Normal University with a longing for the longing for Peking University Guanghua Institute of Management. Luo Min joined the postgraduate army.

Baidu Li Yanhong is the enlightenment of Luo Min's entrepreneurial road. In a lecture, Li Yanhong shared his own journey of establishing Baidu. He said that he has nothing special, just to catch up with the good era, coupled with the help of venture capital investment, the help of venture capital investment , Successful.

This sentence ignited Luo Min's enthusiasm for entrepreneurship, and then gave up the postgraduate entrance examination and started entrepreneurship. The first project aimed at Wang Xing's school internal network. In 2005, Luo Min founded a campus SNS website named "Film Network". The difference is that Wang Xing's campus network follows the elite route, and Luo Min follows the silk line.

At that time, he wrote on the leaflet of the "negative network" that "you can soak the girl to go to the negative network". In Luo Min's view, he cut the rigid needs of college students, and simply and rudely create vulgar fantasy. I found 10 part -time jobs first, each part -time job played 10 beauty accounts, and then covered 100 boys with 100 beauties. When there were 10,000 boys, they then attracted real beauties to settle in.

This vulgar marketing ended in failure. For the second entrepreneurial, Luo Min stared at Liu Qiangdong's e -commerce business.

In 2008, Luo Min and the two partners founded the "anniversary" gift sales website together. They received 2 million investments of angel investor Bao Yueqiao, but still ended in failure.

Two years later, he joined the e -commerce website to buy Haole, served as VP, and started his business again after three years. During the period, he had done Internet education and anonymous campus on campus. Luo Min has publicly revealed that he has started a total of nine times, and it is not until the founding of the fun shop.

And Fun Store is widely known, which is derived from the fun storage of "the originator of campus loan".

At first, Luo Min, who failed to have a social entrepreneurial business in college students, finally dug the first bucket of gold on college students.

When evaluating Luo Min in the industry, he was more called speculative. In terms of learning big guys, Luo Min is also a master of the master.

In recruiting soldiers to learn Ma Yun and Liu Qiangdong's management immediately; in an interview with daily characters, Luo Min once said that just like Wang Xing asked Meituan to move forward, I have been asking my team Luo Min also studied Meituan and did not set up an independent office for the CEO to facilitate communication.

Learn Pinduoduo Huang Zijian public account, go back to his own entrepreneurial process, and try to "self -help" through a "Fun Store Luo Min responded to everything" in the campus loan crisis. "Fun store bad debts will not be collected", "as a welfare delivery without paying money". This statement was later ridiculed by netizens as "Living Bodhisattva".

However, speculators Luo Min has always been difficult to get rid of the hats of "the originator of campus loan".

At the beginning of the establishment of fun stages, it was mainly thought that college students bought Apple mobile phones in installments as gimmicks. In 2014, Luo Min opened BMW and took 100,000 sub -universities to a university in Beijing. He successfully sold a few orders that night. Since then, he has recruited a large number of students on the campus and joined the fun installment team in an internship, part -time, and full -time manner.

However, Luo Min ignored it. As a financial product, the fun stages faced a group of low -income people, and the student group did not have a fixed source of income and could not reasonably control their desire for money.

Under the help of the financial leverage, the desires of college students were magnified until the end of various chaos, and the occurrence of malignant incidents such as naked loans and campus loan violence collection.

In the report of that year, a student borrowed thousands of yuan to buy a mobile phone. He did not expect that Li Tanli accumulated to hundreds of thousands. In the end, he jumped into the world and left the world; After that, she could only take nude photos to repay, and she was going to the road of abuse and insult.

Since 2016, domestic regulatory policies have begun to tighten. Unwavering institutions cannot engage in campus loan business, and Qudian has to withdraw from the campus.

With the controversy of negative public opinion is the stock price of the cliff -jump of the cliff -jump of the cliff. After the Ant Financial contract announced the withdrawal, the performance of Qudian fell all the way.

Since the beginning of this year, Qudian has first been lower than $ 1 for the first time because the stock price has long been lower than $ 1, and has received an unspeaks issued by the New York Stock Exchange, once in February in May. Small money on the prefabricated track to get a brief recovery, reaching a high point on the second day of the live broadcast. The highest stock price of Qudian rose more than 60%to 2.105 US dollars/share, but then fell all the way to $ 1.16/share (as of July 2222 Daily closing price).

The method of burning money for fun shops is not long -term, and it is not possible to solve all problems, because the Internet has memory.

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