Why is the turnover target of Wanda E-commerce Fan Fei lowered by 90%?

101On October 26th, it was learned from people familiar with the matter that the turnover target of Fan Fei APP, the smart life section of Wanda Internet Technology Group under Wang Jianlin, had been adjusted from 900 million yuan set at the beginning of 20 17 to10 billion yuan. In addition, Wang Jianlin gave Fan Fei 20 18 a target of 3 billion yuan.

In addition to adjusting the turnover target, Fan Fei is also reducing its internal staff.

20 12 in may, Wanda e-commerce started to be established, recruiting e-commerce CEO with an annual salary of 2 million. In June 5438+February of the same year, Gong, former manager of e-commerce technology department of Google headquarters and senior director of Alibaba's international trading technology, was identified as the general manager of Wanda E-commerce.

One year later, on March 28th, 20 14, Gong announced that he had left Wanda to start a business.

2065438+In August 2004, Wanda announced that it would jointly build an e-commerce platform with Tencent and Baidu, with a total investment of 5 billion yuan. In the distribution of equity ratio, Wanda holds 70%, Tencent and Baidu hold 15% respectively. At that time, the three parties announced plans to invest 20 billion yuan in five years to build the world's largest O2O e-commerce company. After being registered in Hong Kong for four months, the valuation of this e-commerce company, known as "Teng Million", quadrupled to more than 20 billion yuan.

Since Wanda E-commerce was established two years ago, the only project is "Fan Fei". Two years later, in July of 20 16, "Teng Million" broke up, and Lily and Tencent withdrew from Fan Fei. Only Wanda itself continues to be its e-commerce platform. Since then, Wanda has re-registered a company named "Xinfeifan" to continue to operate e-commerce in Fan Fei.

The above-mentioned insiders said, "Because commercial real estate faces the double impact of e-commerce and consumption upgrading, it must be intelligent. In this big environment, Fan Fei appeared. So at the beginning, Wanda E-commerce upgraded wanda plaza. "

Another person familiar with the matter told the newspaper, "At present, all businesses in Fan Fei rely on various subsidies, rely on traffic to advertise, and have been burning money. Wang Jianlin knew that Fan Fei could not make a profit alone in a short time, so Wanda Finance appeared. In the end, Fan Fei e-commerce upgraded from the business model of wanda plaza to Wanda Network Technology Group, integrating finance. "

At present, Wanda Network Technology Group has four business segments: digital commerce, smart life, financial technology and public cloud services. The newspaper learned that among the four major sectors of Wanda Network Technology Group, only financial technology is profitable. According to people familiar with the matter, this network technology group can achieve its overall profit target this year.

According to Wang Jianlin's two work requirements for network technology group in 20 17 years: financing 10 billion yuan, the overall profit. In addition, at the Wanda Annual Meeting at the beginning of the year, Wang Jianlin said that the revenue of network technology group in 20 17 was 6.5 billion yuan.

However, judging from the current situation, Wanda Network Technology Group has postponed the financing plan of $20 171500 million to at least the beginning of 20 18.

The reason is that international investment banks are not very satisfied with NetScience Group after a round of adjustment. The investment bank believes that the business arrangement of Wanda Network Technology Group is not clear.

At the 20160 Wanda group annual meeting, Wang Jianlin said in his speech that the group approved the development plan of network technology group from 20 17 to 20 19, and approved the five-year capital plan of the group. According to this plan, the network technology group will strive to achieve overall profit in 20 18, and the profit will exceed10 billion in 2020, so as to realize the overall listing of the group.

According to the data, Fan Fei aims to plan the platform products from three aspects: smart scene, Feifantong and financial services. With the innovative marketing method of "entity+Internet" scene interaction and fast payment, the information infrastructure such as WiFi and beacon will be built for the shopping center, and Fan Fei App will be used to realize the functions of finding a car, finding a store and queuing, and at the same time provide services covering shopping, membership, points, big data, promotions and other benefits.