- Country: China
- Industry: Internet, eBusiness
- Stage: Start-up
- Investment size: $8,000,000 / min. $5,000,000
- Type of investment: Debt
A C2B type of a social network website is being developed to provide retail services to over 100M Chinese White Collars. The target is 40M users, 21 billion RMB sales.
The main model of transaction is Group Purchase: one user can invite their friends via the website to buy a product together at a discount.
As an SNS based C2B platform, hopogoyo.com provides two kinds of services: social networking and online shopping. The service of social networking aims to improve the user’s online shopping experience and vice versa.
Hopogoyo.com will complete its growth phase by 2013 and will be in a mature stage from 2014 onwards. About 500,000 users are expected to be members by the end of 2011, rising to 5 million in 2013 and 40 million by the end of 2015.
The annual revenue is forecast to reach 21 billion RMB in 2015, up from 40 million RMB in 2011, with gross margins of 15% and 10% for the respective years.
The company will have 130 employees in 2011, growing to over 7,700 in 2015. (See attachment for more details.)
Our C2B social networking platform, www.hopogoyo.com:
▪ allows to invite your friends to buy selected products together at a discount
▪ is a KaiXin001 with shopping as the main application
▪ is an online B2C platform functioning as a market in real life
Online Shopping Market
In the next 3 years, the number of online shopping users in China will grow fast, reaching 200M, 280M, and 350M in 2011-2013, respectively. The value of online shopping will rise to RMB 70B, 100B, and 150B over the same period.
Along with the development of the Internet industry in China, the ratio of mature B2C users out of all online shoppers is growing and will reach almost 70% by 2013.
hopogoyo.com self-operate model
By leveraging SNS applications to track users’ behavior and collect consumer data, hopogoyo.com carefully selects products which can meet the users’ needs, leads users to invite their friends to buy together; and then adopts the model of “ladder discount” to deliver value to users, therefore achieves the objective of precision-marketing: single SBU for mass sales.
▪ Purchase Model: one-step price centralized purchasing
▪ Terminal Model: SNS type website with personated product
▪ Pricing Model: ladder-pricing, more purchasing lower price
▪ Selling Model: group-shopping, SBU centric marketing
▪ a Facebook or Kaixin001 with
core application of SHOPPING
LinkedIn gives users the value of making friends to develop their career.
Kaixin001 gives users the value of making friends to play easy games and have fun.
Hopogoyo gives users the value of making friends to buy goods at a lower price and have fun.
Chinese White-Collar Characteristics
▪ aged 22-40, online experience of 4-12 years
▪ college or above education
▪ stable career
▪ annual income averaged 40K+ RMB
▪ in the office/online all day
▪ mostly live in 1st&2nd tier cities
▪ over 100M people, growing by 7M every year
▪ large income, bigger spending online
▪ long online exposure, more willing to shop online
hopogoyo.com core services:
▪ shopping management
Investors can contact us on Merar.
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