After the outbreak in the first year of 2016, after four years of reshuffle, the trillion level enterprise service market has finally come to the mature stage of the market. A number of Unicorns began to cross the valley of death as small giants.
The 8 million active enterprise customer flow with exclusive support from Jingdong indicates that little bear u rent has obtained the unique weapon to dominate the 100 billion office equipment rental track.
The marriage of u-rental and Jingdong is more than a simple financial investment. Jingdong offers a channel to bear u, which is quite rare. In fact, there is a new situation of trillions of enterprise services hidden behind this traffic blessing.
1. Two years of six rounds of financing, Jingdong Tencent Da Chen heavy positions
Tob has always been a slow business. Institutional bets often take 5 to 10 years, and quick money is often impatient. But tob track has its unique charm. Once a high barrier is established in terms of products, technology and service ability, and then the flow is injected, then the follow-up development will be irresistible.
This is the track where bear u rents. Since 2015, more than 20 office equipment leasing brands have obtained financing, and the financing time is concentrated in 2016-2018. However, there is an obvious C round death phenomenon in this track. 80% of the companys financing progress stays in round A. in the past two years, capital winter has killed a number of players with insufficient strength.
The rest of the players have gathered a number of heavyweight VC, PE and industrial capital, with a total financing scale of more than 2 billion yuan, and the head effect is gradually emerging. The 100 billion level office equipment rental track has quietly arrived at the finals. Especially after the injection of Jingdong 8 million traffic, the differentiation of match points will be more obvious.
How imaginative is the track where bear u rents? 100 billion shares, how much can bear u rent swallow?
Compared with the 60% penetration rate of equipment rental market in Europe and the United States, Chinas commercial computer rental market penetration rate is only 4.9%. That is to say, what bear u rent has entered is at least one hundred billion level blue ocean market to be educated in the early stage.
How is the scale of 100 billion calculated?
According to the data of prospective industry research institute, at present, the number of small and medium-sized enterprises in China exceeds 50 million. It is conservatively estimated that the annual purchase of office equipment reaches 300 billion yuan, of which computers account for 80%, that is, 240 billion yuan.
According to the data recently released by DBI, the penetration rate of Chinas commercial computer rental market will reach 35.2% by 2027 from the current 4.9%, and may continue to climb to more than 70% by 2030, and can surpass that of Europe and the United States.
If 70% of the market share of the commercial rental market is used to directly replace the 240 billion demand for computers purchased directly, then it is conservatively estimated that this is a market of about 150 billion.
But its also a very competitive track. In the competition over the past few years, there have been competitors in the long-term and long-term rental markets, and traditional giants are also standing in front of entrepreneurs. For example, PC giants such as HP, HP and Lenovo occupy most of Chinas financial leasing market. However, in terms of operating leasing, manufacturers come in and go out, and finally give up and withdraw one after another and turn to seek partners. For example, Lenovo and HP HP have become the partners of bear u rent by virtue of the service capability and entrance flow advantages in the vertical field.
In Jingdong 8 million vertical enterprise service flow exclusive tilt to bear u rent, subdivision of the race track competition is about to end.
As another unicorn of Jingdong system, the growth rate of bear u rent can not be underestimated.
Data shows that in 2018 and 2019, the total revenue of bear u rental keeps doubling every year. In 2019, the number of new customers increased by 109.39%, the number of leased equipment increased by 106.93%, the service revenue increased by more than 400%, the number of management equipment increased by more than 150%, and the revenue of recycling business increased by 328.57%. In the first half of 2020, despite the impact of the epidemic, it still achieved a year-on-year increase of 191%.
In such a growth rate, bear u rent all the way to get the head of venture capital institutions and industrial war investment heavy positions.
In just two years, bear u has completed six rounds of investment from Jingdong, Tencent, Dachen and Dongfang Fuhai.
Two years and six rounds, can be called the fighter in financing. And not only back to Jingdong, bear u rent also won the favor of Tencent, in the C round disclosed last year is Tencents exclusive lead investment.
As the head organization in VC field, Dachen is very optimistic about bear u rent, and even one of the two enterprises with heavy warehouse of Dachen employee fund.
Although the track has great potential, the competition is also fierce. Six rounds of financing have been completed in two years, and they are all supported by the head organization. What kind of chips does bear u rent hold?
To be favored by giants like Jingdong and Tencent, the competitive advantage of bear u rent core is to establish the core barrier of the whole industry chain of it office equipment operation.
In the vertical subdivision track of rental equipment, u-rental has established the only closed-loop industrial chain of leasing + recycling + technical service + SaaS system.
At first glance, there are many difficulties in the description of these words, but there are many holes in the front to realize them.
Hu Zuoxing, the founder of bear u rent, once said that there was an accident in their early development. At that time, little bear u rent took the lead in implementing the deposit free lease. A Guangzhou customer rented 300 computers, and each computer was rented for more than 100 yuan a month, without deposit. I didnt expect that the customer actually secretly sold the equipment rented by bear u, which made bear u rent lose more than one million yuan.
It is also because of stepping into these pits early, bear u rent and those with the Internet gene to subvert the industry completely differentiated.
The office equipment leasing industry is too heavy. It is an industry that pays attention to operation and capital. The threshold is very high. It is also dirty work, hard work and hard work.
For example, operation involves a wide range of industrial chains. The first is the acquisition of assets. Whether it is a first-hand or second-hand computer, we should consider the source of acquisition and the selection of machines, then the maintenance, renovation and disposal in the process, and finally, the sale and Realization of second-hand equipment. The chain is very long, the operation is also very heavy, and it is extremely difficult. If there is no relevant experience, it is difficult to make profits and the system will not work. Hu Zuoxing said to the China open.
It is also because of the super long chain of the industry, for a long time, there are no enterprises that can complete the large-scale expansion in this industry, and there is no national brand.
Although little bear u rent created a new brand in 2018, Hu Zuoxiang has been in the industry for more than ten years.
In 2001, Hu Zuoxing came to Huaqiangbei in Shenzhen to sell second-hand computers. In 2004, he founded Shenzhen Lingxiong Technology Co., Ltd., which is the predecessor of bear u rent. From DIY computer sales and second-hand computer sales, to short-term rent, and then to long-term rent, Hu Zuoxing gradually expanded the companys business map.
Internet companies pay attention to raising high and fighting high. They first circle users, tell small profits and sell more, and then go to IPO to tell new stories when they have scale. However, this set of methods does not work in enterprise service track.
More importantly, for the office equipment leasing industry, the flow entrance is only the first link in the leasing link. The real barrier of this industry is the heavy service in the back. In this regard, bear u rent is very similar to the original mode of Jingdong.
Up to now, Jingdong has been praised for its high-quality experience in purchasing and distributing goods, while the gap between bear u rental and its peers is also in service.
If users use the rent free service through Xiaoxiong mall, with the risk control model accumulated by its team for more than ten years and the connection with the risk control system of the bank, the overall service of audit and distribution can be completed in half a day.
In terms of service system construction, since its establishment in 2018, bear u rent has been the first to build its own self-service operation and maintenance service system in the whole industry. Warehousing, logistics and distribution are all self-supporting. So far, Ursula u has branches in 9 cities in China, with service outlets covering more than 1500 cities in China. It has established a VIP level it operation and maintenance service system with 2-minute response, 20 minute door-to-door, and 2-hour troubleshooting within the radiation range of 2 km of service stations.
This change directly gave birth to the standard remodeling of all links of the supply chain.
Bear u rent chooses Jingdong on the one hand and its powerful supply chain system and service capability on the other hand, focusing on Industrial Synergy and complementary advantages.
But it is because of the establishment of such barriers that Internet giants do not want to die in person, but the enterprises fostered by the giants can grow into giants independently.
Haining, general manager of Business Development Department of Jingdong enterprise business division, described: the bear u rent conforms to the definition of ideal target in Jingdong enterprise business.
Indeed, the whole enterprise service competition has already passed the early stage of story telling and scale competition. Especially after the Ruixing incident, the rules of the game in the capital market were further rewritten. In addition to growth, we need profits.
Enterprise service industry to profit, no non control costs, pick up the unit price, buy back rate. If you want to achieve these goals, you have to go back to the original point. Products and services should be excellent, and it is best to be handed down orally in the industry.
On the other hand, there is a huge blue sea waiting to be excavated for the 100 billion office equipment rental track where bear u rents. At the same time, the market growth rate can not be released.
So far, the number of enterprises that bear u rent service is only about 30000. However, according to the penetration rate of 60% in Europe and the United States, at least 30 million enterprises in China should be the customers of bear u rent.
Hu Zuoxiang judged that the time has come for Chinas office equipment rental market to break out, and the penetration rate is expected to double and break through 10% in 2020.
Winning customers has become extremely important, and the strategic significance of Jingdongs move is extremely critical.
In fact, in the whole tob field, getting customers has always been a problem. Customer acquisition at B end is different from that at C end. It cant be achieved by burning money and advertising. The so-called growth black technology on the C-end is all invalid at the b-end. Those enterprise service players who used to shout and burn hundreds of millions in 2015-2016 have been turned into cannon fodder of history.
Hu Zuoxiang explained the difficulty of getting customers to touzhong.com like this: tob is not like TOC. You will know when several advertisements are smashed, so you can buy them immediately. Even if enterprises see the bear brand, they have to ask the purchasing department to compare the price, to calculate the cost of finance, and to let it personnel experience the effect. The decision chain is very long, which will lead to the high cost of acquiring customers and the slow transformation.
Accurate customer acquisition requires accurate traffic, but in the current Internet, b-end traffic is very scarce. Therefore, Jingdongs 8 million active enterprise users can be said to be invaluable. This is a unique resource. There is no second place in the whole network to have such accurate traffic.
In the face of the 8 million accurate traffic provided by Jingdong, even if bear u rent can only convert 10% of the enterprise users of Jingdong, it will also get 800000 customers.
In the field of Tob, this is already an astronomical number.
Bear u rent hopes to seize the opportunity to increase the number of customers and seize the opportunity.
In an interview not long ago, Hu Zuoxiang said: we want to reach 1 million enterprises quickly.
For a company, serving 30000 customers and serving 1 million customers are completely two concepts, and the capabilities required are completely different. In short, 30000 customers may be forced to complete the service manually. Before bear u rented, the office equipment leasing industry did exactly that. And to serve 1 million customers, we must use digital means to support.
In the face of little bears ambition of serving 1 million customers, the most direct problem is how to serve at the same time. This will also be the unicorns of other enterprise service subdivision track scale diseconomies, scale inefficiency new problems.
How to solve the problem of u rent?
Its still Jingdong.
The cooperation with Jingdong is not only a drain, but also has greater plans in terms of digital upgrading.
At present, Xiaoxiong u leasing and Jingdong are comprehensively promoting digital integration, completing the system docking of Jingdong technology middle platform and Xiaoxiong u leasing it whole industry chain, and opening up the core technology center systems of both sides, such as commodity center, order center, cash desk, customer middle platform, purchasing center, after-sales Center, and price center.
After the middle offices of the two companies are connected, the whole process digital closed-loop service will be formed. Enterprise users can not only initiate one-stop business requests for leasing, recycling and it support services, but also realize the whole process visualization and traceability management of assets. All leasing, maintenance and recycling can be viewed, monitored and traced in the system in real time.
The cooperation with Jingdong has also become a good opportunity for Hu Zuoxiang to learn digital upgrading. Hu Zuoxiang is very concerned about Jingdongs warehouse management ability. Jingdong can use digital means to reverse plan the storage according to the users needs, so as to achieve rapid delivery without breaking out of warehouse. This is very rare.
In the next step, bear u rent will also improve the level of intelligence in product selection, inventory management and risk control.
When customers lead from Jingdong to our platform, they should be insensitive in experience. JD is the ultimate user experience, and I want to be the same as JD. In addition, all our services should also meet the standards of Jingdong platform, which is sunshine, transparent and reassuring customers. It cant be said that the service provided by bear u rent is different from that of jd.com. Hu Zuoxing said to the China open.
The full opening of Jingdongs traffic entrance has a great impact on the whole it leasing industry, and greatly reduces the cost of acquiring customers for bear u rent. With 8 million enterprise customers and the top players in the industry, even if they eat 500000, it is a huge number. The short-term goal of u-rental is to reach 1 million users.
Can we take it? This may be a new test in front of bear u rent.
And once the bear u rent, the service provided is no different from that of Jingdong, then Jingdong not only throws a unicorn of the subdivision track, but also recreates a little Jingdong.