When Hungry Mike was in full swing in the Shanghai market, the capital also gave Hungry Mike a market valuation.
It was widely believed that Hungry Mike's innovative business model, current advantages, and future growth potential should be more than 1 billion USD.
That means if Li Mu wants to raise funds alone and sell 10% of the company's shares, he can get at least 100 million USD.
But Li Mu does not want to raise funds.
He knows that if Hungry Mike can expand to cover all the cities, its annual revenue will easily exceed 100 billion USD.
By then, the subsidy era will be over, and the merchants will have to rely on Hungry Mike to increase their sales. Hungry Mike can take 10% of the profits from the merchants. This way, the company's annual revenue will be more than 10 billion USD.
A company with annual revenue of more than 10 billion RMB will be worth at least 10 billion USD.
In Feng Yu's previous life, Hungry Mike was valued at 30 billion USD, and that was with the help of Meituan.
Without Meituan, Hungry Mike's valuation will be more than double.
There was news that Li Mu's marketing team had arrived in Guangzhou, but Lu Yunhao's Bull Takeout was not online yet.
Lu Yunhao had been troubled by many problems recently. First, the scooter manufacturers had slowed down their supply, and he had only received 500 scooters after waiting for a few days.
Then, there was the purchase of computers. Lu Yunhao calculated his funds and only purchased 1,000 computers. He was afraid that it would take up too much of his funds.
After a few more days, Bull Takeout's product was finally ready for testing. The marketing team quickly distributed the computers to all the merchants within 8 kilometers of Bull Takeout's headquarters.
Because 1,000 computers were not enough to cover the whole Shanghai market, Lu Yunhao could only cover the area around the company and then slowly expand the scale.
After distributing the 1,000 computers to the 1,000 restaurants around the company, Bull Takeout was finally ready to go online.
When it went online, Bull Takeout gave out a red packet discount.
Hungry Mike's newbie gift pack was 5 RMB 2 coupons, 5 RMB 3 coupons, and 5 RMB 5 coupons.
Spending 10 RMB, you can use a RMB 2 coupon; spending 15 RMB, you can use a RMB 3 coupon; and spending 20 RMB, you can use a RMB 5 coupon.
Cow Takeout simply copied it. However, it changed the five coupons to six, which meant that there was one more coupon for each type of coupon.
Soon after, their riders were in place, and the pushers officially started to pull up banners and posters under the various office buildings.
The moment Li Mu heard about the launch of Bull Takeout, he immediately gave a call to the person in charge of the Shanghai team. He directly sent 10 coupons for 10 yuan off 2 yuan to all Hungry Me users in Shanghai. These coupons could be used together with the coupons from the Newbie Gift Pack.
If it was a user who had already used up all the coupons in the Novice Gift Pack, he would be given five coupons of 10-3, 15-5, and 20-8.
In other words, whether it was an old user of Hungry Amy, a new user, or a user who had already used up the novice gift pack coupons, as long as they used Hungry Amy to order food, it would be cheaper than Beef Takeout.
Wasn't it just a competition of burning money? Li Mu couldn't wait any longer.
To be honest, ever since he started his business, he had never seriously competed with his competitors in burning money. This was a good opportunity, so he might as well burn 100 million first.
In his previous life, when the competition between food delivery platforms reached its climax, users could even order food delivery without spending any money.
This was not because the people on the food delivery platforms were stupid and had too much money. It was because everyone was fighting to the death with each other, and the winner would take it all.
If one party couldn't afford to play, the other party would monopolize the market.
Now, Li Mu directly started to burn money.
When Hungry Amy's users ordered from the Novice Gift Pack in Shanghai, they would get a discount of at least 3 yuan for a 10 yuan order. If the coupons were stacked, they would get a maximum discount of 4 yuan. This was slightly more than Lu Yunhao's 10 yuan discount of 2 yuan.
Lu Yunhao also didn't expect Li Mu to start a price war right from the start. When Hungry Amy's discount was released online, there were pitifully few new users of Bull Takeout, and the number of orders was also pitifully low.
On the first day of Bull Takeout's launch, there were a total of more than 200 orders on the platform.
Most importantly, Bull Takeout had 500 riders.
This was very f * cking embarrassing.
Many of Lu Yunhao's riders had been waiting on the streets for almost the entire day.
And beside them, there was a continuous stream of Hungry Amy's delivery staff riding Hungry Amy's electric scooters back and forth. They were so busy that they didn't even have a moment to rest.
In comparison, they were like hundreds of new sculptures on the streets of this city, idling on their electric scooters while waiting for their messages on their phones.
The workers at the power station were also very depressed. Before they started work today, they had even held a mobilization meeting early in the morning. The leader said that it would be a tough battle today, and everyone must do their best to ensure that the riders had enough electricity to deliver orders at all times.
In the end? There were three power stations, and not a single battery was changed in a day.
The riders could not even get one order per person. Who would want to change the batteries?
After all, even if the electric scooter's battery was not good enough, it could still run for 20 to 30 kilometers.
At the end of the day, the people at the power station were very comfortable. There was no work at all, and they could earn money just by lying down.
But it was different for the riders. Their basic salary was very low, and they mainly relied on receiving orders to supplement their income. In the absence of orders, their income was too meager.
Many riders sneered at the workers when they were handing over their electric scooters. "You even told us to go to the power station to change the batteries if we ran out of electricity. There's no f * cking chance at all. If this goes on, I'll quit …"
No one was willing to take the lowest basic salary and be a sculpture on the streets. Everyone wanted to earn money.
There was also a portion of riders who directly refused to work.
They felt that they had wasted a day's time, and it was already a huge loss. Instead of continuing to waste their time like this, they might as well just change jobs and save themselves some trouble.
Although the leader of the rider team tried his best to persuade them to stay, there were still close to a hundred people who refused to work.
After listening to the feedback, Lu Yunhao was so angry that he almost smashed the floor-to-ceiling windows.
He didn't understand why the users were so calculative. Didn't Li Mu just give them a one-yuan discount? Was it worth it? My Cow Takeout is very powerful. It has a very strong human algorithm in it. If you use it seven, eight, or eighteen times, it will know what your favorite flavor is, and then it will specially send you your favorite food!
You, you bunch of users who don't know what's good for you. Why don't you use it?
You're wasting my painstaking efforts!
The most painful feeling was that no one appreciated something that they had painstakingly made.
He felt that the users should not give up on Cow Takeout for just one yuan. But in fact, to the users, it was really not worth it.
If they used Cow Takeout, not only would they have to register a new account, but they would also have to open a new Cow Takeout payment account and bind it to their bank card. The cost of this set of user behavior was actually quite high.
Even if the price was the same on both sides, no one was willing to waste this energy. Moreover, Hungry Cat's price was cheaper.
Therefore, under such circumstances, who would still use Cow Takeout?
Lu Yunhao was a little anxious. He said to his operations team, "We'll also give extra red packets! How about this, we'll give one yuan more than Li Mu! Then, we'll give a batch of red packets worth 10-3 for them to stack. That way, they only need to spend 5 yuan for a ten-yuan takeout order! "
The operations manager reminded him, "Boss Lu, if that's the case, we'll lose nearly 10 yuan for every order we receive."
"Why is it so much?" Lu Yunhao was shocked.
The other party said, "Currently, Hungry Cat doesn't take any commission from the merchants. We pay all the subsidies ourselves, and we don't take any commission from the merchants. We'll pay whatever discount you give us. Also, for every order, our rider commission, manpower, financial resources, material costs, and equipment depreciation costs add up to 5 yuan, which might be a little too little. Therefore, it's normal for us to lose 10 yuan for every order."
Lu Yunhao gritted his teeth and said, "Our problem now is that we don't have users, so we can accept the loss. Just treat it as spending money to buy users! If we can buy a million users with 10 million, it's worth it! "
The other party said, "If we change the discount at the last minute, the marketing team will have to change the materials. Otherwise, we won't have users on our own platform. If we just advertise on the platform, our potential users won't be able to get this information."
Lu Yunhao said, "Then we'll change the materials overnight. No matter what, we have to promote in all the major office buildings before noon tomorrow!"
The marketing team's manager, who had already finished his shift, was given a new task. He had to change all the posters, flyers, and banners before noon the next day. Therefore, a few of the marketing team's executives hurriedly searched for advertising shops that were still open and rushed to produce new promotional materials.
The next day, the remaining 400 riders continued to wait on the streets.
Many of them had already made up their minds to change jobs if they still didn't receive any orders by the end of the day.
It was the peak time for breakfast before 9 am, so there weren't many orders for Hungry Cat Takeout. They only received a total of 20 orders.
When the marketing team started to promote the new materials everywhere, Li Mu got the news and immediately asked YY to launch a precise pop-up window based on the IP address.
This time, the precise pop-up window was targeted at all YY users whose IP address was within the coverage area of Hungry Cat Takeout.
YY had long since completed the collection of all the IP addresses in the country with the operators. The corresponding geographical coordinates of each IP address had already been recorded in the data channel. Basically, as long as the user didn't change the IP address or use a proxy, YY could accurately locate the IP address to within 20 meters.
This way, as long as all the IP addresses within the coverage area of Hungry Cat Takeout, the users within that area would receive the pop-up window.
The biggest advantage of this method was that it saved ammunition.
For example, now that the Beef Take-Out covered a radius of seven to eight kilometers, it would not accept orders from other places that it did not cover. Therefore, Hungry could not give discounts to users in other places and only give discounts to users within the Beef Take-Out's coverage area.
And the content that Li Mu asked YY to send to these users was: "Congratulations on receiving Hungry Cat Takeout's cash back opportunity. From now on, after every Hungry Cat Takeout order is completed, you will receive an additional cash back ranging from 2 to 10 yuan. Just the cash back alone will be at least 2 yuan!"
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