List of deaths in 2017

Summing up in 2017, the sharing economy continues to invade the travel sector. Sharing the travel mode creates a chance for the company and it also becomes a “Death Valley” where most players cannot leap.

In 2017, more than 10 companies stopped operating in the automotive travel sector. Know the past, see the future. The billion euros car detailed breakdowns of some of the "preceding lessons" for those in the bureau to reflect, outsiders ponder.

After the transition, it was even more difficult. Friends fell down with the car on the wind of sharing trips.

On March 10, 2017, the electric vehicle rental operator Yu Youyou official WeChat public number issued an announcement and announced the suspension of operations. Regarding the reasons for closing the service, it was stated that "As the previously signed investment payment was not in place as scheduled", it was decided to return all user account deposits.

According to public information, Friends of the Friends of the car's predecessor, Friends of the car rental, was first established in 2014, the main business is the private car sharing platform. P2P sharing mode has many pain points that are difficult to solve. For example, it is difficult to standardize private car service, response to user orders is not timely, and the rate of receiving orders is uneven. The cost of acquiring vehicles by P2P car rental mode is high but the efficiency is not high. In order to obtain a better user experience, in the second half of 2015, the company decided to transform its business and start the time-shared leasing market for new energy vehicles.

Friends of the Friends of the car used to complete three rounds of financing, a total of more than 20 million US dollars. According to the financial report released by the Friends of the Friends of the car, in 2015, the Friends of Friends of the car main income of 24.04 million yuan, a net loss of 14.142 million yuan, total liabilities of 21.773 million yuan.

The high cost of profit and the limited profit channel have become the fundamental reason for the development of time-shared leasing companies. The time-shared leasing market is an industry that requires efficiency. The higher the efficiency, the greater the profits. At the same time, the vehicles and costs invested also increase. The official explanation of the Friends’ car also confirmed that the breakage of the capital chain was the trigger of its death. Li Yu, a co-founder of Friends and Friend Vehicles, once stated in the interview: “Time-sharing is a need to have a 'background' to do things, not just a simple Internet business can rely on online to play a world.”

The first closed shared bicycle company: Wukong cycling

During the June suspension of Wukong cycling, Mobike completed a $600 million Series E round of financing.

An industry entered the blind "burn money wars" and new players couldn't support it. However, the failure of Wukong cycling is not only a reason for not having money.

The latecomers who share bikes often evade the first-tier cities that Mobi and Too have already occupied. They all want to emerge from small and medium-sized cities through the strategy of “surrounding cities in rural areas”. That's right, but Wukong chose to choose "Mountain City" Chongqing.

Due to the disadvantage of the terrain, it is difficult for the users of bicycles to support large-scale operations. In addition, the founder Lei Houyi attributed the core issue of failure to the user group's natural difficulty in supporting large-scale operations. In addition, founder Lei Houyi attributed the core issues of bankruptcy to supply chain and financing. The Wukong bicycles were put into operation at the beginning of 2017. A total of 1200 bicycles were placed before and after this cycle. This batch of bicycles was all used traditional mechanical locks due to cost control. What makes people speechless is that 90% of the bicycles are no longer available. Lei Houyi revealed in a media interview that a total loss of a million yuan has been lost. The lost bicycle is not intended to be recovered. It is "as a public good."

However, Wukong’s bicycles are considered “benefiting to the best” in the last days. According to media reports, in April 2017, Lei Houyi had discovered that the company was unsustainable. At that time, it was worried about causing turmoil. The bicycles that had been cast had been operating until the partner’s money was paid off. In June, Wukong Bicycles announced the suspension of operations.

The second closed in the same month: 3Vbike, the deposit is difficult to retreat

On June 21, the 3Vbike shared bicycle announced through the official WeChat public account that 3Vbike shared bicycles will stop operating due to the theft of a large number of shared bicycles. It also reminds users who have not returned the deposit to apply for a refund as soon as possible.

In fact, there were feedback from netizens at the time and the 3Vbike deposit was difficult to withdraw during the operation. As early as June 6, 3Vbike announced on the WeChat public account that it would stop operating indefinitely. However, it later deleted this announcement. In the end, this bicycle company still did not stick to it.

According to official sources, the 3Vbike shared bicycle main street-style sharing list officially announced that 3Vbike shared bicycles are mainly street-style shared bicycles, focusing on third-tier cities in China, and have previously been in Baoding, Langfang, Qinhuangdao, Beidaihe, Fujian Putian Delivery vehicle. According to media reports, the vehicle was put in Baoding for several days and was told to take back all the bicycles, stop operations, and leave Baoding because the bicycles were stolen.

"Stolen" has become a curse for sharing bicycle companies for a time. When it comes to the quality of citizens, it is also one of the problems that it is difficult to survive. From this point onwards, the sharing of bicycle deposits has become a topic of concern.

"Insufficient greed", the young manufacturer Lotus Lotus announced liquidation

On July 31, 2017, the Xiaoshan District People’s Court of Hangzhou City ruled to accept the bankruptcy liquidation of Zhejiang Youth Lotus Automobile Co., Ltd.

In 2004, the youth teamed up with Guihang Group to use the "shell" of Guihang Lark to obtain the qualification for car production. In 2006, the youth group also established the Youth Lotus Joint R&D Center through cooperation with the British Lotus Automotive Engineering Company.

However, the sales of this carmaker is bleak and its reputation has not been as loud as ever. Until 2011, on the verge of bankruptcy, Saab and its parent company, Spyker, searched for gold owners worldwide. Youth Youth Lotus Automotive invested more than 100 million euros in Saab and Spyker, and originally wanted to acquire overseas well-known car companies. Crossing the process of primitive accumulation, what it really acquired was only the impression that the Chinese company “have a lot of stupid money” on the global stage.

At that time, Saab vehicles that had once been brilliant had changed hands among many companies and had long been short-circuited. They did not have any core assets left. Young cars were too greedy and too blind.

In 2013, some media began to disclose the phenomenon of youth funding shortages and wage arrears. In 2014, the young Lotus was exposed to a large-scale production base production stoppage; in 2015, the youth Lotus dealer’s losses and the out-of-pocket car purchases broke out in large numbers. The dealer channel collapsed completely and the young Lotus plant stopped production. In 2016, relevant creditor companies had already asked the court to bankrupt the young Lotus and youth cars on the ground of their inability to repay the debts, but this time the court did not formally accept them.

Until 2017, Young Lotus formally declared bankruptcy because he could not recover the fault of using money to buy efficiency.

With Chill Cycling out of service, the issue of hard-to-retire shared bike deposits culminates

Since mid-August 2017, cool riders have been caught in the storm of deposits, and Cool Rider has been responding to technology upgrades. However, according to media reports, cool riding cyclists such as Xi'an, Henan, Shenyang, and Hangzhou experienced layoffs or people going to the void. This makes many cool ride users feel uneasy.

On September 22, the official letter of the Qiqi cycling company released an internal letter saying that the competition in the shared bicycle industry was fierce. The company’s funds were indeed very tight and employees were allowed to choose to stay. On the evening of September 27, Gao Weiwei, the founder of Cool Cycling, responded that the cool cyclist was recently acquired by a wholly-owned company. The two companies have overlapping areas of business and personnel. Therefore, personnel optimization is needed instead of the so-called layoffs by the outside world. The specific acquisition information Gao Weiwei did not disclose.

Shortly afterwards, Cool-Ride announced an announcement that Gao Weiwei had been removed from his CEO position and the new management was preparing for the emergency.

At the end of September, according to an announcement by Cool Cycling on the WeChat public account, WeChat had closed the cool riding bicycle payment channel, frozen the funds, and frozen funds of nearly 40 million. Kuqii specifically wanted to return this money to the user but could no longer operate it. Many negotiations with WeChat have no result.

Gao Weiwei disclosed in an interview with the media afterwards that Cool Ride had a shortfall of 500 million in funds and only 50 million in accounts. He believes that this is a loss due to two reasons: First, there is not enough money, and second, there is deliberate manipulation behind the competitors. After he was removed from office, he would still stay and pick up the situation.

Die in used cars and electricity dealers in the red car advertising campaign under the car to the car

On the evening of September 29, 2017, the used car trading platform car arrived at the CEO Xie Lei, suspected of releasing internal corporate e-mails, announcing that the company was unable to operate due to a capital chain break and declared bankruptcy and entered liquidation procedures. The insider confirmed that the news was true.

According to published Xie Lei’s internal e-mail, it was shown that the company’s operating losses caused the capital chain to break and could not continue to operate. Only the company could be shut down, the bankruptcy declared, and liquidation procedures entered.

The car to vehicle brand is Xie Lei’s C2B model of used car transaction e-commerce service platform established in Beijing in May 2015. On the last day of 2016, it announced the merger of new used cars (C2B used cars worldwide). Selling patterns originator).

EZZY shared car disbanded, suspected capital chain breaks, boss runs off road

On October 24th, some media revealed that the shared car service platform EZZY was closed or closed down. Signs showed that the number of EZZY vehicles had gradually decreased, and the street had basically not been able to be seen, and its customer service calls were still in an unanswered state. A source revealed that the company has held an internal meeting to inform the company that it has been dissolved. Yiwu Automobile at the time asked the EZZY staff for the first time, and its reply was indeed announced on October 23, and another staff member once used the “Yellow Crane” to suggest that the owner was running.

The well-known point of EZZY is that it used BMW i3 and Audi A3 models. EZZY founder Fu Qiang said after the company's collapse, the cost of EZZY's rental of BMW i3 is too high, about 10,000 yuan each month, and before the domestic i3 because there is no DC fast charging function, there is too slow charging, cruising range The disadvantage of being too low limits the speed of development of EZZY.

The cost of sharing car business is already high. EZZY's use of an unreliable location to return the car has increased a lot of operating costs. In addition, the use of higher-end models of high-end vehicles as shared equipment business model is too heavy, eventually the capital tends to be calm, The capital chain is difficult to maintain, and life is dragged to death by EZZY.

Actual controller's suspected "roll money" was lost, and the whispering of the bicycle was unsightly

On the evening of November 23, the employees of Xiaoming bike broke the news through Weixin Group to Yiuou and other media. Xiaoming bike CEO Chen Yuying left the job in October this year. A large number of employees were unilaterally terminated the labor contract. In October, the salary has not yet been paid. The company's funds were mostly misappropriated by the actual controller, Deng Yonghao. The employee revealed that Deng Yonghao is currently in a state of loss.

Xiaoming was founded in July 2016 and was founded by Jin Chaohui, the founder and COO of the original Homestead. The core team is from Didi Travel and Uber. The smart hardware team consists of bicycle engineers with more than 30 years of bicycle R&D experience.

After its establishment, Xiaoming had completed three rounds of financing in one month. On September 27, 2016, Xiaoming Cyclone announced tens of millions of yuan in angel round investment. The investors included Lianchuang Yongxuan Feng Tao and a number of listed company background shareholders. On October 8, 2016, Xiaoming Cyclone announced again. A round of 100 million yuan in round A financing, the lead party is exactly the current actual controller of the Xiaoming bicycle Deng Yonghao. On October 21, 2016, Xiaoming Bicycle also announced the successful completion of the B round of financing, but the amount of financing and investors did not disclose.

Since August of this year, there have been reports on the internet that the bicycle parking deposit is difficult to refund. However, Xiaoming has been responding to technical upgrades. As 2017 is coming to an end, Xiaoming has not given a positive response to the public.

The second tier of cool cyclists and small blue bicycles had a crisis. Xiaoming cyclists also fell under this turmoil. At this point, the annihilation of the second and third tiers has become a reality.

One of the frustrations of the annual “worry” of the whole people, the best little blue bike that can ride is not left.

When the Blue Cycling accident happened, everyone seemed to have no concern for the deposit. The circle of friends only saw a sigh and lamented that the best blue rider had not been able to support the winter of 2017. At the same time, he rushed to try to return the deposit. ......

On the morning of November 15, some media reported that the Little Blue bicycle has been declared disbanded; the Little Blue bicycle HR started selling office furniture in a circle of friends yesterday. “95% of new office furniture is fashionable and simple, and it is transferred.”

According to a supplier who claims to be a small blue bicycle, Xiaolan Bicycle has defaulted on the supplier’s account since March 2017. It is understood that there are about 780 suppliers of small blue bicycles in Shenzhen, and the amount owed is about 200 million yuan.

Xiaolan Bicycle was established on November 23, 2016. In January of this year, it was announced that it had won a black hole investment lead, and Smart StarTong had invested 400 million yuan in Series A financing. Prior to this, the information provided by the official Xiaolan bicycle shows that Xiaolan has been deployed in Shenzhen, Guangzhou, Chengdu, Nanjing, Foshan, Beijing and other cities. The number of registered users exceeded 15 million, and the daily orders exceeded 5 million.

According to media reports, since the completion of A-round financing, Xiaolan Bicycle has been seeking 400 million US dollars of round B financing, but in June this year, it declared failure to raise funds. The small blue bike also had the intention of being acquired by brands such as ofo and Mobai and was also rejected.

Not only are the second and third tier players dead and unpredictable, but the sharing of bicycles and two head businesses has also been trapped by rumors of deposit misappropriation and tight funding chains. After a few waves of shared bicycle financing, the profit model is still not clear, and investors hope that the sound of consolidation will come and go.

In addition, the “death methods” such as machicho bicycles, karaoke bicycles, and colorful bicycles are similar to each other, and are unable to escape the entrepreneurs’ lack of respect for entrepreneurial ventures, misappropriation of vehicles and deposits, and fragile supply chain and capital chain. The pattern is in doubt and other reasons. Summing up in 2017, the sharing economy continues to invade the travel sector. Sharing the travel mode creates a chance for the company and at the same time it becomes a “Death Valley” where most players cannot leap.

Almost every year there will be a new outlet, and the next year will be a cruel shuffle, like O2O in 2014 and the shared economy in 2016. After the ebb tide, individual companies quickly grew into unicorns, but most followers will face the embarrassment of nude swimming.

In 2018, we hope that we will not see more "heads up" ordinary entrepreneurs and investors.