Cao Cao’s line in the romance of the Three Kingdoms is often teased by netizens. Cao Cao said, I thought Lubu had no enemies in the world. I didn’t expect someone to be brave than him. Who would be responsible for this?
This sentence is often used to describe some sudden black horses, which at once subverted everyone’s understanding of the original order of the Jianghu. And the rabbit, it seems, is such a black horse, or a wild horse that is not in accordance with the rules.
In 2019, polar rabbit acquired Shanghai Longbang express, which obtained the express operation qualification and express network in China, and officially entered the Chinese market in March 2020. After entering China, it took the polar rabbit only six months to lay channels in the core cities of each province. The daily order volume of polar rabbit has been soaring from 5million pieces a day to 20million pieces a day – which is regarded as the standard of the life and death line of express industry, which took only 10 months. However, it has been 16 years for China general use, 18 years for Yuantong, 19 years for rhyme and 25 years for Shentong.
Facing the domestic super saturated express market, under the market pattern of Tongda system, Shunfeng system and Beijing East system, it is easy to tear up a mouth and eat by Tiger mouth!
The most effective and only way is to “price war”.
According to reports, in Yiwu, the world’s largest wholesale market for small commodities, the average price for each order is only 1 yuan, sometimes as low as 8 Mao, far lower than the industry recognized cost price of no less than 1.4 yuan.
Media reports have reported that in order to be able to stand firm in China’s express market, the express express of polar rabbit has burned 20 billion in 10 months.
The extreme rabbit is not a gentle rabbit, but a bloody killer! From July 2020, the three-way one-stop “banned” polar rabbits. On April 9, Yiwu post regulatory department confirmed that the extreme rabbit had “low price dumping” behavior and carried out the rectification, and ordered the polar rabbit to stop part of the distribution center.
The rapid expansion has made the fast rabbit a favourite in the capital market. In April, polar rabbit completed a round of financing of up to $1.8 billion, involving many institutions such as Boyu capital, Sequoia Capital and hillboard capital, with a post investment valuation of $7.8 billion.
Even foreign media reported that the rabbit is likely to conduct an IPO in the United States with a scale of more than $1billion at the fastest speed – just over a year since it started its domestic network, and it is likely to surpass the speed of social e-commerce.