Tiger Sniff Note: This may be Tiger Sniff this year The warmest roundtable discussion at the FM Festival.


In this roundtable session, guests were required to stand in clear lines and must “like” or “like” four phenomenal cases in the four retail areas we gave. “Applause”, a kind of harmonious and thin mud is the most abhorrent behavior in this link.

We have invited Ms. Jiang Meilan, the director and partner of Zhenge Fund, Zhang Yazhe and Fei Rui Interactive CEO, as well as Ji Zhongzhan, CEO of Science Captain, and founder of Happy Village Library Host. They discussed the four cases of Pinduoduo, Costco, Hema, and Li Jiaqi together. They had sharp words, clear opinions, and some fierce collisions of opinions.


Although the two guests are optimistic about the long-term development of Pinduoduo, they have divergent views on Costco; they are “cautiously optimistic” about Hema and believe that The live e-commerce company represented by Li Jiaqi will be a fiery track with spotlights in the next 1-2 years. What is your attitude towards these four cases? May wish to share it with Tiger Sniff in the comment section.


The following is organized from the field shorthand:

Zhang Yazhe : Thank you Tiger Sniff for the invitation, because Zhenge is very familiar to all entrepreneurs, so no introduction is needed (laugh). Since Zhenge is the most famous and best early stage fund in China now, all early entrepreneurs should know the name of Zhenge. We also hope to attract more in this new environment.entrepreneur. Thank you!

Jiang Meilan : Hello everyone! Ferry Interactive is a mobile marketing company that focuses on mobile marketing in the retail sector. We are part of Dentsu Angus Isobar Group.

Host : Let’s take a look at the four retail cases reviewed by the two guests today (see the big screen): Pinduoduo, Hema, Costco, Li Jiaqi. Today, we need to have a clear banner. Whether it is Teacher Zhang or Teacher Jiang, let’s say clearly “good” or “bad” on the banner.

I. Pinduoduo

Host : Let ’s look at the case of Pinduoduo. To be honest, I think this is a very successful company in the past few years. It is a dark horse that disrupted the e-commerce landscape. The new gameplay of social e-commerce, especially it really sang Xiao Yueyue’s song of the five rings. Where is the potential and future of Pinduoduo? The first one is to ask Teacher Zhang, do you think you can fight a lot in the future?

From left: Zhang Yazhe, director and partner of Zhenge Fund, Jiang Meilan, CEO of Ferry Interactive, Ji Zhongzhan, CEO of Science Leader, and sponsor of Happy Village Library / p>

Zhang Yazhe : If we vote for Pinduoduo, I think life is very happy. Gao Rong (Capital) voted Pinduoduo, its happiness index is significantly higher than mine, but we did not Pinduoduo, so we don’t really have much to do with Pinduoduo.

There is a big question here. In the entire economic downturn cycle, where and where is real demand hidden? All the products and services that can meet this need must have strong vitality.

In addition, logically, the sociological hierarchy is always changing, but