Xu Xin's "Bread Oolong"

The beginning of the bread grab is so similar, and the ending is so different.

Author/Grapevine, Jinjin

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Produced/Newly Excerpted Business Review

After a day of relay screens by netizens, Xu Xin's bread arrived, not only bread, but also plum ziqi's snail powder, fresh beef, eggs, drinks, and a large number of paper towels and other daily necessities.

According to statistics, as of now, the cumulative number of positive infected people in Shanghai in this round of epidemic has exceeded 100,000. In the past few days, the Internet is full of information from Shanghainese calling for help, and people are eager to identify the emergency order among the many messages and find ways to bail out Shanghai's daily necessities.

But it is in such a tense anti-epidemic environment that Xu Xin's rich arrival video pokes at the sensitive points of ordinary people and unveils a corner of the cruel reality.

After watching the video, some netizens issued a sigh of "originally comforting themselves, having money and not having money, and now it is broken". Others have pointed out more bluntly that when many people in Shanghai are still grabbing a little food, this kind of showing off is more like a kind of explicit and irrational of the privileged class.

But just now, Xu Xin has published a text to refute the rumors, saying that the video that appears on the Internet is not posted by me, "The sound is not my family's, the house is not my house, the materials are not the materials I bought, I have contacted the lawyer to help me deal with it, thank you to the friends who care about me." Now, like everyone else, I am doing what my daughter, wife and mother should do at home during this time, and I hope that we will work together to fight the epidemic, not spread rumors, and resume normal life as soon as possible. ”

After the rumor-busting statement was issued, the melon-eating masses scattered one after another, and those netizens who intended to provoke class war also extinguished the fire.

First, the VC queen worth tens of billions of dollars "bends" for bread

The origin of the bread oolong incident was that the owner of "Xu Xin Kathy" who lived in the Royal Crest Garden asked the neighbors to help pull into the bread group in the owner group.

The owner himself is Xu Xin, the spokesperson of the "Whaling Faction", a believer in Buffett's value investment, and the richest man to collect and control.

After the screenshot circulated for an hour, Xu Xin himself responded in the circle of friends, saying that his son brought classmates to play, the family's 12 people had a large demand for food, she was also participating in the group purchase of the community, and the demand for milk bread had been solved.

Under the tense epidemic situation in Shanghai, group buying and grabbing vegetables seem to be commonplace, but the VC queen with a value of tens of billions of dollars also has to personally grab vegetables, which has aroused great interest from netizens.

Some netizens joked that even if they were the big guys who acquired Yonghui Supermarket, they had to go into the bread group to grab things. Some netizens also joked that "On April 7, 2022, Xu Xin, for his own, family, and children's next meal of bread and milk, rushed between the community group and the private domain group purchase mini program, I don't know if I can still shoot accurately, grab the green leafy vegetables on Dingdong to buy vegetables." ”

No wonder the enthusiasm of netizens is too high, it is really Xu Xin who is too well-known in the Internet circle, not only a number of "women behind the richest man", but also strong financial resources.

According to the 2022 Hurun Rich List, Xu Xin is worth 16 billion yuan. In this year's list of forbes China's best female venture capitalists, Xu Xin, who has ranked first twice in a row, has won the crown again.

It is understood that what solves the problem of buying vegetables for Xu Xin in the video is one of Xu Xin's investment projects, Dingdong Buying Vegetables. It can be seen that before Xu Xin broke out that it was difficult to buy vegetables, Dingdong did not give shareholders "special care". However, after the news of Xu Xin's request for bread fermented, Dingdong's response to buy vegetables was still very timely.

The epidemic in Shanghai is severe, and the capacity of e-commerce and takeaway industries is tight. In the case of unsustainable offline procurement, fresh e-commerce platforms with instant delivery capabilities such as Dingdong Buy Vegetables, Hema Fresh Food, and Meituan Grocery Shopping have become an important force in alleviating the pressure of urban supply and ensuring the safe, efficient and orderly operation of the urban "vegetable basket", and are also the key roles in ensuring supply of the epidemic in Shanghai.

The explosion of various negative news such as the daily excellent fresh bloody listing and the shutdown of orange heart preferred once made the fresh e-commerce "outlet has passed" remarks very loud, but the epidemic has highlighted the importance of fresh e-commerce. It is reported that in order to fully ensure the supply of materials in Shanghai, Dingdong Grocery has recalled nearly 500 front-line employees to return to the supply team, and arranged for the previously suspended front warehouses to quickly resume business, and has successively reopened nearly 30 front warehouses that were closed in Baoshan, Songjiang, Qingpu, Xuhui, Yangpu and other areas.

In the field of fresh e-commerce, Xu Xin is one of the figures who hold the right to speak, and her publication of "Those who get fresh get the world" has been repeatedly quoted by practitioners in the fresh food industry. As the VCS queen of the Internet, Xu Xin's record is far more than that.

Second, Xu Xin's chess game and dilemma

In the past two decades, Xu Xin has created many investment myths with his poisonous vision and accurate shots, and has been called China's "venture capital queen" and "Chinese female Buffett".

In the venture capital circle of "men in power", Xu Xin's appearance is like "a little red in the evergreen bush".

In Xu Xin's investment myth, the most well-known is the story of investing in Liu Qiangdong. In 2006, Jingdong has not yet formed a scale, continuous losses have made investors lose confidence, there is no venture capital willing to invest, Liu Qiangdong has no way back, many times looking for investment but eating closed doors, until he found Xu Xin, who is today's capital, found hope.

When Xu Xin asked Liu Qiangdong how much money he needed, Liu Qiangdong cautiously said the number of one or two million, Xu Xin saw the potential of JD.com and generously invested $10 million.

With the blessing of Xu Xin, Jingdong has grown step by step, and now it is one of the three poles of e-commerce that is difficult to shake on the Internet. In 2014, JD.com was listed in the United States, and Xuxin Today Capital held a large stake in JD.com, earning more than 150 times the return.

In addition to JD.com, Xu Xin has also invested in well-known Internet companies such as NetEase, Meituan, Ctrip, Zhihu, boss direct employment, and consumer goods companies such as Three Squirrels, Good Shop, and Xiangyi Bencao. Behind countless well-known enterprises and successful CEOs, there is Xu Xin's figure.

It can be said that Xu Xin is deeply involved in the transformation of China's Internet tide. Three of China's richest people were born under Xu Xin's investment, whether it was wahaha bottled water after the earliest investment in Zongqing, the century funded to rescue Ding Lei in netease that was "sold cheaply", or Liu Qiangdong, who was abandoned by other capitalists, Xu Xin has seen the future of economic development with a forward-looking vision, witnessed and participated in the growth of China's Internet economy.

Before Xu Xin entered the venture capital circle, his growth experience was quite smooth and his resume was bright.

After graduating from Nanjing University in 1988, Xu Xin worked as a teller in the sales department of the Bank of China's headquarters, in fact doing repetitive work such as "registration, copying, and stamping". In just a few years, Xu Xin was promoted from a small clerk to a deputy section chief of the bank.

In 1991, Xu Xin, a non-accounting major, memorized the entire accounting material and passed the British certified public accountant examination, originally there was no quota, and Xu Xin, a non-accounting major, asked for a quota, won the job opportunity of PwC, and Xu Xin went to Hong Kong for training.

During the three years of working at PwC, Xu Xin worked until late at night while taking time to prepare for eighteen CPA exams, so the high-pressure study work laid a strong foundation for Xu Xin to enter the investment community in the future.

In 1995, Xu Xin, who performed well, was recommended by PwC to enter the Hong Kong investment institution Baifuqin, and it was also in this year that Xu Xin, who was only in his 20s, handled the joint venture between Wahaha and Danone in France.

At that time, Wahaha was still an unknown small company, Zong Qing wanted to move the French bottled water model to China, at that time China did not have the habit of drinking bottled water, Xu Xin saw that this industry had a huge commercial space, and immediately approved 40 million US dollars to Wahaha. The results were obvious, wahaha later became famous and became a household name mineral water brand.

After this investment, Xu Xin seems to have found his mission and strengthened his belief in investment.

However, compared with the past glory, the investment achievements of Today's Capital in recent years are not eye-catching, and it has not invested in projects such as NetEase, JD.com, and Meituan that rewrite the history of the Internet for a long time.

After counting the investments of Today Capital in recent years, Manner coffer and Mo Mo Dim Sum Bureau are two of the successful cases, and other projects such as Linji Convenience Store, Piggy Folk Customs, and 66 Input Method have not aroused too many sparks in the market. And Manner and Mo Mo did not make a huge scale like the three squirrels invested in 14 years, and even in May 2021, Today Capital also withdrew from Manner's shareholder list, accounting for about 35% of the shares.

The fundamental reason is that the consumer market is becoming less and less optimistic. New consumer brands tend to spark quickly in the market, but the continued performance of the follow-up is flat.

Xu Xin, who is good at the consumption track, has recently begun to favor technology companies. In terms of enterprise investigation, the recent investment events of Today Capital are basically technology companies, such as Xin Xingji, Gaoxian Robot, Hairou Innovation, XYZ Robotics, which are all suppliers of digital solutions or technology developers. So far in 2020, Capital Today has made a total of 17 investments, of which 6 are technology companies, accounting for a third.

The period when the Internet dividend was most abundant has long passed, and both the formed giants and the developing unicorns have to accept the reality and cultivate intensively in the stock.

Although hard technology including optoelectronic chips, artificial intelligence, aerospace and other fields is expected to lead a new round of scientific and technological revolution and industrial change in the future, but the initial investment is large, patience capital is particularly important. I don't know whether today's capital, which has turned the rudder to hard technology, is ready to fight a protracted battle, and when it will be able to throw another giant that can rewrite history.