"Little Red Book's new round of financing has a pre-investment valuation of $5 billion."

Author: Stone Jin

Edit: tuya

Product: financial graffiti

According to the company intelligence expert "financial graffiti", not long ago fromMogujieJin Tingting (nickname: Luo), who resigned, has decided to join Xiao Hongshu and be in charge of e-commerce live streaming business. Prior to that, she served as Mogu Inc's senior vice president and head of live broadcast business.

According to public information, before joining Mogu Inc at the end of 2016,Roy has served successively.Urban beauty"Editor-in-chief, editor-in-chief of Aijie Network and Hunan Satellite TV, I am the operation director of Damei New Media Center.Among them, Urban Beauty was once one of the most popular women's magazines in China, backed by the famous Bauer Media Group (Bauer Media), while Aijie is the Chinese branch of the wedding information website The Knot.

During the tenure of Mogu IncRoy once led the e-commerce live broadcast business to become Mogu Inc's biggest growth point.That is, the GMV of the live broadcast business has maintained a three-digit growth rate for a long time, far ahead of the GMV growth rate of Mogu Inc's entire platform.

However, there are also signs of fatigue at a later stage. According to Mogu Inc's financial results for the third quarter of fiscal 2020 released on March 12 this year, the platform's GMV increased by 8.0% year on year to 6.299 billion yuan, while the GMV of live broadcast business increased by 99.5% to 3.352 billion yuan. Live broadcast business GMV accounted for more than half of the platform's total GMV for the first time.

The growth rate of 99.5% was since Mogu Inc was listed on the New York Stock Exchange in December 2018.For the first time, the live broadcast service GMV has achieved less than three-digit growth.

Therefore, whether Roy can successfully copy the successful experience of Mogu Inc to the Little Red Book may need to be marked with a certain question mark. Of course, Xiaohongshu may have far more room for development than Mogu Inc in the past two years.

In any case, Roy's long-term focus on the working background of female content operation and community management, as well as her experience and understanding of e-commerce live streaming, undoubtedly has a high degree of agreement with Xiao Hongshu's user profile and strategic planning.

It is worth mentioning that this will also be the third general of the Little Red Book e-commerce business system in a short time. According to a previous report by late LatePost, two new executives have been added to Xiaohongshu in the past few months, one from a large cross-border e-commerce platform, responsible for getting customers and customers at the front end of e-commerce, and the other is a formerAliMiddle level, responsible for the opening of brand accounts and e-commerce link marketing tools.

It is not difficult to speculate that when both proprietary e-commerce and third-party e-commerce platforms have failed to achieve the desired results, live streaming is expected to be higher, or it may also become one of the few solutions for Little Red Book e-commerce to realize.

But on Taobao, Douyin, Kuaishou Technology,Pingduoduo、micro-blogWhen the platform has already started live streaming, and has begun to take shape and head KOL, Xiaohongshu's efforts at this time will inevitably make people feel that it is too late, and it is very difficult to really overtake around the corner.

In addition, since the second half of 2019, a number of domestic and foreign media have exposed the news that "Little Red Book is conducting a new round of financing", but Little Red Book has always denied or refused to comment.

According to "financial graffiti"The new round of Little Red Book has a pre-investment valuation of $5 billion.And Hillhouse Capital, Sequoia Capital China Fund and other top investment institutions that have not yet participated in the past financing of Little Red Book have indeed had in-depth negotiations with Xiao Hongshu, hoping to become the leading investor in this round, but so far there is no final conclusion.

If all goes well,Xiao Hongshu will formally complete this round of financing in the next few months..

Perhaps, how Xiao Hongshu runs through the platform model of "community + e-commerce" will be directly related toCan the valuation of Little Red Book reach 6 billion US dollars?Even higher; and at present, this task has undoubtedly fallen on the e-commerce sector.