Liu Dong, vice president of Keep: The fight against the epidemic has enhanced the awareness of user movement and is currently profitable

The surging news reporter unveiled the book

"Our revenue is divided into three segments, the first is the consumer goods business, and the other two parts are the advertising business and the membership services business. The largest proportion of these is the consumer goods segment, with sales reaching 1 billion in 2020. ”

On April 21, at the Keep Chunxiang Strategy and New Product Launch Conference held in Beijing, Liu Dong, partner and vice president of Keep, introduced the company's revenue structure in an interview with the surging news (www.thepaper.cn) and other media groups.

He further explained: "Keep's sports consumer goods are divided into three categories, smart wearable products, equipment and food sports life categories, the fastest growing is smart products and the largest share is also smart products. ”

In the past 2020, under the epidemic, the popularity of the home fitness scene has led to the growth of Keep users, and as of now, the number of Keep App users has exceeded 300 million. The fight against the epidemic is a positive for online sports, and with the improvement of the epidemic, the heat of offline fitness is also recovering.

But Liu Dong is not worried about this, he believes that online fitness and offline fitness are like eating at home and going to restaurants to eat two relationships, not only do not conflict, but also intertwined.

"It's not that I go offline to eat at a restaurant, and I don't eat at home. The family scene is the closest to us, you can start a sport at any time, it is relatively low threshold. But if we really want to pursue a good experience, you may also go offline, because there may be a favorite coach there, you can chat with him, you can ask your girlfriend to practice together, so I think the two are not conflicting, it may be intertwined. Liu Dong said.

Overall, Liu Dong believes that the changes brought by the fight against the epidemic to Keep can be viewed in two dimensions. "First, the user's sense of movement must have improved, the fight against the epidemic has provided him with time and space, and the user's awareness of movement will definitely bring about the growth of daily life." The second dimension is that time is shifted, and generally we don't start exercising until the spring, but during the epidemic, the peak of user movement arrives earlier. ”

According to the data of Tianyancha, the main body of keep is Beijing Calorie Technology Co., Ltd., which was established on September 26, 2014. Keep has completed 8 rounds of financing since its establishment in 2014, and the investors include Tencent, Morningside Capital, BAI, GGV Capital, etc.

In January, Keep completed a $360 million Series F funding round, with a post-investment valuation of $2 billion. For the specific investment direction after this financing, Liu Dong revealed: "For example, for the investment in live classes, it actually needs a process of cultivation, and it is not a completely commercial form now. Then our investment in high-quality content IP, as well as investment in consumer goods for smart hardware, are actually the direction of our last round of financing. ”

It is after this financing that the news that Keep is about to go public in the United States has come out frequently. In today's group interview, Keep said that there is no more information to be revealed about the listing issue.

However, according to Liu Dong, Keep as a whole has achieved profitability. "Online is our biggest investment, and membership is a high margin Internet product and service, so it is able to cover the cost. In fact, the repurchase is also a relatively large increment, plus the gross profit of food and clothing is definitely better than smart hardware, so our whole is a relatively healthy environment. ”

At present, the number of Keep users has exceeded 300 million, and the outside world is concerned that the number of users has reached the ceiling? Liu Dong responded: "If I remember correctly, in 2016, the State Council proposed in the National Fitness Plan that by 2020, the number of people participating in physical exercise once or more per week will reach 700 million. I think the growth space of the sports population is still very large. Second, we feel that there are a lot of sports service methods to be discovered, which may be a potential group of people that cannot be satisfied by the current service form, the number of this group may be more than 700 million, and I think that with the country's strategic initiatives to promote healthy China, there will be a lot of resources to come in and make more people realize the importance of sports. ”

At this conference, Keep officially released the App 7.0 version, and launched the newly upgraded three boutique IP courses and two intelligent hardware products of the Keep intelligent spinning bicycle C1 Pro and the Keep bracelet B2 member special edition.

It is worth noting that Keep's peer, the American interactive fitness platform Peloton, landed on the NASDAQ on September 26, 2019, and the company mainly sells high-end spinning bikes and fitness classes. At the time of listing, Peloton was priced at $29 per share and valued at $8.1 billion. Unexpectedly bumping into the "cloud fitness" dividend of the epidemic, Peloton's stock price rose all the way in 2020, once stood at a high point of $171, and the current stock price is $103 / share, with a market value of $30.5 billion.

Editor-in-Charge: Wang Jie

Proofreader: Yan Zhang