The e-commerce platform of 130 million users was ＂blocked＂ because of owing money, and some merchants said that they were owed tens of millions! Can the self-help of Taojiji be turned over？

As a social e-commerce company that only went online in August last year, the recent days of Taojiji are not easy.

The founder publicly stated on Weibo that the e-commerce platform with 130 million registered users had just been exposed that the capital chain was broken, and the back foot headquarters was "besieged" by merchants from all over the world. The merchants had only one purpose: to hope that Taojiji would settle the arrears.

A few days ago, the reporter of International Finance News learned from some merchants that some of them were owed more than 100,000 yuan, while others were owed 700,000 to 800,000 yuan. These merchants also said that the amount of money owed by them is not too much. In the merchant group, there are merchants who are owed millions or even tens of millions of yuan.

Up to now, all the merchants have not got any money from Taojiji.

At present, Taojiji is actively carrying out a series of "self-help" behaviors, such as introducing reorganizers and agreeing with merchants to postpone debt repayment. However, in the eyes of the industry, the above measures can only be called "last resort", and it is still difficult to judge whether it can be achieved.

one

Crisis broke out

The crisis of Taojiji broke out in the past National Day.

On October 1st, Taojiji suddenly issued a notice in the official Weibo, saying that some unidentified persons had recently impersonated Taojiji merchants and posted false statements and videos, and reported the relevant information together with evidence to the police to assist in the investigation.

However, some merchants in Taojiji told the reporter of International Finance News that some merchants did go to Taojiji to ask for payment.

"On September 5th, Taojiji rejected all cash withdrawal applications from July 10th to September 4th. Originally, the receipt period was one month. After the application was rejected in September, only the (payment) of WeChat channel was received one after another until the end of September, and the payment of Alipay channel was not paid at all. Some merchants went to the headquarters of Taojiji in September to get back half of the payment. After this incident was spread, more and more merchants went to the headquarters to ask for money, but Taojiji bluntly said that there was no money and no one gave it. " A merchant who was owed more than 800,000 yuan in payment by Amoy told the reporter of International Finance News.

Another merchant said that although the payment of more than 100,000 yuan owed by Taojiji to him was not much, his children still had to attend rehabilitation classes and needed to get the money back urgently.

Faced with external doubts and concerns, on October 12th, Taojiji announced again in Weibo, saying: "Recently, it coincided with the critical moment of financing for Taojiji, and rumors widely circulated on the Internet made some merchants feel uneasy and even visited the headquarters of Taojiji. We attach great importance to this and set up an emergency team to actively communicate with merchants. "

The announcement said, "In order to have a better development of Amoy Collection and effectively help merchants solve the current problems, we chose to reorganize our business with large domestic institutions. After several days of unremitting efforts and communication, most merchants expressed their understanding and were willing to continue to cooperate with the new platform formed after the merger. " In addition, Taojiji also said that the restructured platform will have a qualitative leap in both financial strength and technical strength.

However, according to the reporter’s understanding, many merchants do not buy the contents of the above announcement of Taojiji.

According to the reorganization agreement provided by several merchants to reporters, after receiving the purchase price paid by the reorganization party, Taojiji will pay 20% of the debt to the supplier within one month, and the remaining 80% of the debt will be postponed until the target company after the reorganization of Taojiji and a large group company is valued at US$ 2 billion or listed, and Zhang Zhengping, the legal representative of Taojiji, and the shareholding platform of its senior management team will repay it by pledge loan or transfer of equity.

2

Should the agreement be signed?

For the agreement issued by Taojiji, many merchants expressed their firm refusal to sign it, thinking that it was a "pit" dug by Taojiji. If they could not get financing, they would not even have the right to sue. This is not the attitude to solve the problem.

Zhao Zhanling, deputy director of Beijing Zhilin Law Firm and special researcher of Intellectual Property Research Center of China University of Political Science and Law, said in an interview with the reporter of International Finance News that although Amoy Collection is now in debt, it may still have some assets, which have certain value, such as platform users. In this case, some investors may be willing to buy Taojiji, but the acquirer may ask them to solve or partially solve the existing debt problem, otherwise there will be a lack of investment foundation. After all, it is difficult to make Taojiji turn losses into profits in the case of heavy debts. Therefore, the above scheme was produced.

"Of course, there will be many variables in this agreement: First, can the reorganization be successful? Second, can we turn losses into profits after the successful restructuring? Third, even if we can turn losses into profits, there are many unknowns about how valuable the actual controller’s equity is and whether it can be realized. These are disadvantages for merchants, and it is still uncertain when 80% will be available. " Zhao Zhanling pointed out.

In Zhao Zhanling’s view, the reorganization agreement can only be signed by consensus between Taojiji and the merchants, so the merchants have the right to choose. At present, there are two options to choose from, one is the bankruptcy liquidation of Taojiji, and the other is to sign an agreement. Merchants need to compare which option is more cost-effective. "However, it is not easy to judge because merchants do not understand the assets of Taobao."

Relevant persons in the Taobao market told reporters that there are already investors, but they can’t be announced, and the above agreement is also a more appropriate solution that the company can think of at present.

three

Or core competence has not been established.

Zhang Zhengping is the CEO of Taojiji and has actual control over 13 companies, including the main company of Taojiji, Shanghai Huanshou Industrial Co., Ltd..

Established in May 2017, Shanghai Huanshou Industrial Co., Ltd. has a registered capital of 10 million yuan, and its business scope includes building decoration materials, fitness equipment, Wujinjiaodian, daily necessities, electronic products, knitting textiles, etc., among which Zhang Zhengping holds 99% of the shares of the company.

At 3: 00 am on October 15th, Zhang Zhengping released a Letter of Apology to Partners through the official Weibo of Taobao, which described the events experienced by Taobao from October 2018 to June this year and responded to the plan.

On October 16th, the reporter of International Finance News learned from Taojiji that in addition to placing its hopes on the injection of external capital, Taojiji is still trying a new business model-the partner self-operated model, hoping to tide over the difficulties.

Relevant persons of Taojiji told reporters that Zhang Zhengping and representatives of business groups in Shanghai from Guangdong, Fujian, Zhejiang, Hubei, Anhui and Hebei jointly signed a Joint Statement of Taojiji and Supplier Representatives. The statement said: The main business model of Taojiji was changed from the merchant-settled model to the partner-operated model. The existing major suppliers have become shareholders and partners of Taojiji, and share the same honor and disgrace with Taojiji.

On October 17th, according to the latest information learned by reporters from Taojiji, as of the afternoon of October 16th, thousands of businesses had signed reorganization agreements with Taojiji.

Although Taojiji is trying to save himself, Feng Huakui, the founder of naughty e-commerce, made it clear in an interview with the reporter of International Finance News that Taojiji’s "fate" is not good, and he wants to copy Pinduoduo’s "subsidies for the market" model, but he has no capital background of Huang Zheng.

Feng Huakui believes that Taojiji has not established its core competence. The so-called 130 million users just bought it with money, not by their own operational capabilities. Comparatively speaking, Pinduoduo has a set of algorithm mechanism, which can ensure that the cost of obtaining customers is very low, and there are no other competitors at that time. On the other hand, Taobao Collection lacks technical ability and relies on marketing to stimulate users to register. Such users are worthless.

Feng Huakui further pointed out that the current predicament of Taojiji is not a problem of business model, but a problem of business ability. There is nothing wrong with the business model itself. The key is how to establish a good threshold in the competition, and the threshold is the foundation of an enterprise’s inventory.

Reporter Jiang Peifang

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Original title: "The e-commerce platform of 130 million users was" blocked "because of owing money, and some merchants said that they were owed tens of millions! Can the self-help of Taojiji be turned over? 》