On August 11, the annual speech of Lei Jun 2022 was officially opened. Lei Jun recalled the "sad process" of starting a business. When talking about the Joyo.com he founded, he felt a lot.
Mr Lei says that when he visited Mr Bezos, Amazon's boss, in 2018, after selling Joyo.com to Amazon,The first thing the other person says is: I'm sorry I didn't take care of your excellence。
As WE HAVE LEARNED, 1999, LEI JUN ESTABLISHED A DIVISION IN JINSHAN INTERIOR, NAME OUTSTANDING NET, IN October OF THAT YEAR, OUTSTANDING NET FORMALLY ENTERS ELECTRONIC COMMERCE DOMAIN, BASICALLY SELL THE PRODUCT SUCH AS BOOK AUDIO AND VIDEO AT THAT TIME.
Thanks to its success, Zhuoyu became China's largest business-to-consumer website in 2004, with sales exceeding 100 million yuan in a single quarter. But it was still losing money, and Lei estimated it would take tens of millions of dollars to turn a profit.
And that was the year,Amazon offered a whopping $75 million to buy Joyao.comLei Jun did not refuse the reason.
With the acquisition of Joyo.com, Amazon was looking to take over the entire Chinese market, where it had few rivals.
However, it was too slow for Amazon to change its name. It was not until 2011 that it was officially renamed Amazon China. During this period, it used the name "Excellent Amazon".
Such slowness was also reflected in online shopping. At that time, it took at least 10 days to get goods delivered on Amazon, which was a torture for the fast-developing Chinese consumers who pursued a fast pace.
Finally, Amazon officially closed its Chinese e-commerce service on July 18, 2019.
When talking about selling outstanding after there is no regret, Lei Jun expresses "do not regret, kill all do not regret, but oneself psychology is really hard to give up, because this MEETING does not try to buy things on outstanding net, try not to see old colleague."
Mr Lei added that Joyo.com "was founded after the dotcom bubble and fell before the full rise of ecommerce". After selling Joyo.com, I had a long period of thinking, and finally in 2005, I had a deeper understanding of the Internet: "The Internet is not only a technological revolution, but also a revolution of ideas, the future Internet will be integrated into all walks of life".