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Md Delwar Hossain
Apr 13, 2022
In General Discussions
At present, although Taojiji's CEO has publicly stated that he has the ability to repay all arrears, the results are still relatively pessimistic. Judging from the public information, for most of the merchants who have worked with Taojiji, they still hope that Taojiji can survive this disaster and have a great hope of getting the payment that they are owed. Speaking of social e-commerce, Taojiji is also a big dark horse in the industry. It has similarities with Pinduoduo. It has reached 40 million monthly active users within 9 months of its launch, and has quickly won awards including DST, Tiger Fund, KZ. The rumored valuation once reached $600 million due to investments from several well-known venture capitalists. But the good times did not last long. With the exposure of the thunderstorm incident, the real special database business situation of Taojiji was also exposed. As of now, one year after its establishment, Taojiji has lost a total of 1.2 billion and has a negative net asset of 600 million yuan. The company loses more than 200 million yuan every month. Regarding the reasons for the loss of the platform, Taojiji's CEO explained that the cost of acquiring customers on the platform was too high. At present, Taojiji has more than 130 million registered users. Taojiji said that most of the losses are concentrated here. It is understood that as early as June 2019, Taojiji had launched the B round of financing and successfully obtained several verbal offers; but after entering July, its performance growth was affected, sales stagnated, and the company chose to continue to lose money to acquire users ; In September, due to the unconfirmed financing, the flow of funds declined, and the crisis came. On September 25, someone incited the supplier to run on the loan.
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Md Delwar Hossain

Md Delwar Hossain

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