By mid-January, the leading group-buying websites were in tears.
Because of the rapid expansion in the early stage and the heavy spending of money, now when they look through their pockets, they only have three or two coins. In other words, the money in their pockets is almost burned out!
It's just like a 10,000-meter long-distance race. As soon as the starting gun sounds, these guys choose to sprint with all their might in an effort to leave their opponents behind right from the start. However, in the end, they end up tripping each other and no one ends up well.
By the last two laps, they had trouble walking, let alone running. They could only watch Meituan leisurely running up to them and occasionally making two big jumps right under their noses, which really made them hate it.
There are only two ways out when you have no money. One is to continue looking for capital to take over and make the pie bigger. If you can keep burning for a while, you may see light at the end of the tunnel.
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