卡卡卡卡 February 14th news, according to a person close to ByteDance, ByteDance has completed its investment in Jitu Express to fill in ByteDance's e-commerce puzzle and expand its overseas e-commerce layout. In response to this, the relevant person in charge of Douyin e-commerce responded to Bian Niushi: The news is untrue.
JT Express (JT Express) was established in Jakarta in Jakarta in August 2015. Founder Li Jie was once the head of OPPO's Indonesian business. The original intention of Jitu Express was to solve the transportation problem of OPPO mobile phones in Southeast Asia.
In 2019, Jitu acquired China Longbang Express and obtained a domestic express license. In March 2020, Jitu Express officially returned to China and rose rapidly. One year later, the average daily business volume has stabilized at more than 20 million orders. On October 29, 2020, Jitu signed an acquisition agreement with Best Group to acquire Best Group's domestic express delivery business for RMB 6.8 billion. After the merger, Jitu Express's domestic market share will increase to about 15%.
Hurun Baifu's "2021 Global Unicorn List", Cainiao Network and JT Express (Jitu Express) are the only two express logistics companies with a valuation of more than 100 billion yuan.
According to public media information, in 2021, Jitu Express's valuation has more than doubled.
On April 7, 2021, Jitu Express has completed a financing of of 1.8 billion US dollars, led by Boyu Capital to invest US$580 million, and Sequoia Capital and Hillhouse followed the investment at the same time, with a post-investment valuation of 7.8 billion US dollars.
On August 30, 2021, Jitu Express completed a new round of financing, with a financing scale of US$250 million, used to expand the Middle East and Latin American markets, with a daily order volume of over 22 million orders in China. However, this financing did not disclose the post-investment valuation of Jitu Express.
On November 24, 2021, Jitu Express was revealed to have completed a new financing of US$2.5 billion. In addition to Boyu, Hillhouse and Sequoia continuing to follow up, it also introduced top institutions such as Haina Asia, with a post-investment valuation of US$20 billion (about RMB 130 billion).
In September last year, Bloomberg reported that Jitu may consider listing on the Hong Kong Stock Exchange at the beginning of 2022 and is expected to raise US$1 billion. Nowadays, ByteDance investment may cause Jitu to postpone its listing date. The three necessary conditions for the
e-commerce platform are: trading platform, payment license, and logistics system. Previously, ByteDance's platform had been built and the payment license had been successfully obtained (in September 2020, ByteDance obtained a payment license through external acquisition of "Hezhong Payment", which was just about to form a complete logistics system.
ByteDance has established two logistics subsidiaries in the exploration of logistics layout: Shanghai Daoquyue Logistics Technology Co., Ltd. and Shanghai Xingchen Yuedong Supply Chain Management Co., Ltd., and also invested in many logistics technology companies such as Syrius Juxing, Jiazhi Technology, Future Robots. But there is a lack of a role like the Novice Network in Alibaba .
Due to the lack of its own logistics system, Douyin used the express delivery company's facebook system to complete order delivery. On August 1 last year, Douyin launched its own electronic bill list and successfully completed the connection with express delivery companies such as SF Express , Santong Yida, Best, and Jitu. After that, Douyin merchants will use Douyin's own electronic bill list.
After investing in Jitu, ByteDance's shortcomings in domestic logistics were filled. In addition, Jitu is also crucial to ByteDance's e-commerce overseas business.
As early as the end of 2020, Zhang Yiming identified cross-border e-commerce as an important new business of ByteDance.
According to people familiar with the matter, ByteDance's e-commerce business target for 2022 is 2 trillion GMV (total platform transaction volume), of which the GMV target from Douyin e-commerce is 1 trillion yuan, and the GMV target for Tiktok e-commerce is 1 trillion yuan. Regarding this matter, the relevant person in charge of Douyin e-commerce responded: The news is untrue.
Recently, ByteDance launched the independent e-commerce site DMONSTUDIO to improve the overseas e-commerce landscape. DMONSTUDIO is similar to SHEIN in terms of website patterns, design styles, product displays, etc. The launch of
Dmonstudio is another major move by ByteDance in the cross-border e-commerce field after reaching cooperation with the Shopify platform, forming an alliance with the Walmart e-commerce, and launching the Fanno APP.Information on the official website of
DMONSTUDIO shows that the women's clothing independent website is currently in more than 100 countries around the world and has overseas warehouses. The delivery cycle is 5 to 15 working days. The pricing range of its hot-selling clothing is US$20 to US$40, and the pricing is higher than SHEIN and DMONSTUDIO.
However, Bianniushi found that DMONSTUDIO had suspended operations on February 11.
Various signs indicate that ByteDance is eager to go overseas. It is reported that after TikTok Shop enters the UK and Indonesia in 2021, it will enter more Southeast Asian countries in 2022.
Southeast Asia is the base camp of Jitu Express. Jitu is currently the first logistics company in the Indonesian market and the second largest logistics company in the Southeast Asian market.
According to "LatePost", Jitu's development focus in the Middle East and South America is Egypt , Brazil and Mexico, and two countries with high per capita incomes in the United Arab Emirates and Saudi Arabia. The total population of these countries is close to 500 million. These areas coincide with the expansion direction of TikTok Shop.
Interestingly, Jitu Express has always had close relationships with Tencent e-commerce. Its largest customers in China and Southeast Asia are Pinduoduo and Indonesian e-commerce platform Shopee. The latter is the only subsidiary of Southeast Asia's Southeast Asia's listed company Sea, a New York Stock Exchange listed company. Both listed companies are backed by Tencent.
After obtaining Byte Investment this time, Jitu may be forced to choose a team among Tencent and ByteDance.
