Taotian Group sets up a large-scale model team, Shein rumored to IPO in 2024 | CEO Study Room

【Ebrun Original】Douyin e-commerce refutes rumors; Taotian Group sets up a large-scale model team; Shein rumored to IPO in 2024; Jianglai Pet receives 1 million strategic investment.

I’m Bang Xiaobai. This is the CEO Study Room, where I've prepared a study material to help you review the most talked-about e-commerce news.

Douyin e-commerce refutes rumors: It is rumored that Simei Media operates Douyin Supermarket, which is not true

According to Douyin e-commerce's Weibo account, the news that Simei Media is operating Douyin Supermarket is not true. The Douyin Supermarket business is operated by Douyin e-commerce itself. (36Kr)

Taotian sets up a large-scale model team

Taotian Group is currently setting up a large-scale model research team and has started recruitment. It is reported that Taotian Group's large-scale model research will mainly focus on two scenarios: product recommendations and the content of window shopping. The team formation work is jointly led by Taotian Group CEO Daishan, Taotian Group CTO Ruohai, and Alimama CTO Zhengbo. (Retail Circle)

ByteDance establishes new department "Flow", focuses on AI application layer

It has been learned from multiple independent sources that ByteDance has recently established a new AI department called "Flow". The technical leader is Hong Dingkun, Vice President of Technology at ByteDance. An informed person indicated that the head of this new department is Zhu Wenjia, the head of ByteDance's large model team. ByteDance was approached for verification of the above information but did not respond as of the time of publication. (iBlackhorse)

Momoda Dianxinju's Beijing store has closed down completely

A netizen posted that Momoda Dianxinju's last store in Beijing, located in Dongzhimen's Lai Fushi, has closed, and the brand will completely withdraw from the Beijing market. Checking Momoda Dianxinju's official mini-program, no store information was found in Beijing. Momoda Dianxinju's customer service stated that all Beijing stores have closed, and consumers in Beijing can choose home delivery. As of the time of publication, there was no response regarding whether they would reopen new stores in Beijing. (Red Star Capital Bureau)

Three Squirrels: Over 80 community snack shops have been opened

In response to questions on the strategic development of national snack shops on the interactive platform, Three Squirrels officials stated that community snack shops are one of the important channels for the company’s offline market layout and that there are currently over 80 shops in Anhui, Jiangsu, Zhejiang, and other regions. (Retail Circle)

Good Products Complete Board of Directors Transition: Yang Yinfen appointed Chairman of the Board

Good Products held its second extraordinary shareholders' meeting in 2023, completing the elections for the third session of the board of directors and board of supervisors. Yang Yinfen was elected as the new Chairman of Good Products and once again assumed the position of General Manager. The former Chairman and General Manager, Yang Hongchun, no longer holds the position of Chairman and General Manager after this transition; the former Director and Vice General Manager Zhang Guoqiang no longer holds the position of Vice General Manager, but both still serve as company directors. (iBlackhorse)

Rumor: Shein rumored to IPO in 2024

It is rumored that the online fashion company Shein has confidentially applied for a listing in the United States and may IPO in 2024. Informed sources indicated that Goldman Sachs, JPMorgan Chase, and Morgan Stanley have been hired as the lead underwriters for the offering, possibly in 2024. Foreign media reported that in a round of financing in May, Shein was valued at about $66 billion, and it may seek a higher valuation in the IPO. (iBlackhorse)

A banker responsible for major US stock IPOs stated in a media interview that confidential filings in US stocks are very common to reduce unnecessary disturbances during IPOs and are a self-protective measure taken by the company. (iBlackhorse)

Online sales on Black Friday in the US reached nearly $70 billion

On November 27, according to US e-commerce research firm Adobe, US consumers spent $9.8 billion (approximately 69.5 billion RMB) on Black Friday, November 24, an increase of 7.5% over the previous year. Online shopping spending on Thanksgiving Day, November 23, Thursday, was $5.6 billion (approximately 40 billion RMB), a 5.5% year-on-year increase. (Cailian Press)

Jianglai Pet receives 1 million strategic investment from Longling Capital

In November, Jianglai Pet received a 1 million strategic investment from Longling Capital, with a post-investment valuation of 50 million. The funding will be mainly used for the research and promotion of cat litter products, deep cultivation of segmented categories, and the gradual layout of the entire pet cleaning product category. In the future, Jianglai Pet will continue to introduce investment institutions to expand market share. Shenzhen Jianglai Pet Co., Ltd. was established in 2023 and is committed to providing a one-stop service for pet products represented by the brand "Uncle Vick" cat litter. This service covers "production-packaging-sales-transportation-after-sales." (Investment Bulletin)

Snack brand "Lingzhiwu" receives financing

Snack franchise brand Lingzhiwu completed a 75 million yuan angel round of financing. As per the board's decision, 25 million yuan will be used for support subsidies and business expansion to accelerate its presence in the markets of South China, Central China, and North China. Lingzhiwu is a franchise snack shop brand founded by Changsha Haoshihui Supply Chain Management Co., Ltd. It is committed to building a global supply chain management system for "healthy, exquisite, delicious, comprehensive, convenient, and fast" global leisure food products in collaboration with offline snack shops. (Retail Circle)