In 2005, Yao Jinbo, then vice president, resigned from Wang Wan, thinking that localization service must be a big dish. Today, it really verifies Yao Jinbo's judgment! And Yao Jinbo's game is to learn from Baidu, relying on a huge traffic portal to realize it. Yao Jinbo is diverting water from Baidu to small and micro enterprises in the city, especially local enterprises. You're welcome to say that ten years ago, 58 cities were the absolute bosses of localization services!
There are more services in the same city than you can imagine. Here, Yao Jinbo obviously learned the essence of Taobao and the routine of bidding ranking. From beginning to end, Yao Jinbo wanted to be a platform and intermediary business.
At the peak, the market share of 58 cities is about 47.5%, while that of Jiji.com is 34. 1%. After the merger of Jiji.com, its market share exceeded 80% and it became the absolute giant of localization services. But now when you open the comments in the AppStore, you can see that the most complaints about 58 cities are scammers, spam advertisements and information. In fact, this was more than a decade ago.
In other words, 58 cities rank first in the industry, accounting for 80% of the market share, but those fundamental problems have not been solved. This place has never been trusted by users, but it is a paradise for a large number of intermediaries and scammers! Because the author used 58 city for the first time ten years ago, he was first fooled by the intermediary and then cheated by the intermediary. Since then, he hasn't driven a 58 for more than ten years!
Therefore, the first thing that 58 cities lose is trust!
The market value of seashells owned by chain home has reached 64.859 billion dollars after listing, while the market value of 58 cities is only 8.3 billion dollars, which is really unimaginable. The business in the same city includes almost everything localized, such as recruitment, selling houses, renting houses, second-hand goods, maintenance and cleaning. This almost moved the Taobao model, but such a huge market is not as good as a shell for selling houses in the eyes of investors!
In fact, 58 cities have also acquired many products. In 20 15, Yao Jinbo was hungry after M&A and became the industry leader. At the same time, it has hatched geese to get home (originally 58), fast dogs to take a taxi, turn around, part-time jobs in Mi Dou, universities in 58 cities, used cars, new edamame cars, Pinduoduo and so on. In fact, the valuation of these sub-brands is close to $20 billion.
For example, a magnifying glass once wanted to evaluate a product, so it bought a new 9.9 mobile phone. As a result, the swindler was very advanced and used a cheap charger and cable to charge a brand-new machine. However, the machine inspection service did not test the charger and cable. In this way, you need to pay about 100 yuan more to buy the original charging equipment, but the transfer officer neither admits responsibility nor supports complaining to the seller. This means that any product purchased by the user is available.
Of course, generally speaking, the products hatched after 58 are at least one dimension higher than those hatched after 58. Even, we suspect that even Yao Jinbo may have given up 58 cities, and want to rely on the traffic of 58 cities to incubate successful products to complete the makeover!
For 58, the best transition period has been missed. At that time, its flow was huge, and every small item was separated. Now you can become a super giant, such as recruitment field, such as real estate field, such as part-time field, such as second-hand products and services. But now, 58 is always one step behind, challenging giants in all dimensions, 58' s recruitment field has no advantage in the same city, and it is directly hired by Boss, and so on.
After delisting from the US stock market, 58' s future will only be listed in A shares or Hong Kong, but listing in different places has not solved the fundamental problem of 58' s same city! 58 City once lost an important market, that is, the localized group buying business that basically belongs to Meituan. At that time, 58 cities had no extra energy to participate in this war, which also made the last transformation opportunity of 58 cities miss in vain!
In today's era, a large and comprehensive functional platform actually has no core competitiveness. The so-called profession has specialization, and only by focusing on a certain field can it be safer and more subdivided. This is also the product of many sub-sectors hatched by 58. Now 58 cities need to find their own track, not big and complete, big and lengthy, big and unprofessional!
However, 58 opportunities in the same city are in sub-sectors, such as moving and real estate. Then how to choose 58 will be the key. Once all the resources and energy are invested in some sub-sectors, such as moving services, real estate, used cars and so on. It is not impossible to build a billion-dollar giant like Shell, but 58 must convince users first!