Dot Dot completed Series C funding of over $400 million, led by Industrial Bank, followed by Tencent and other senior shareholders.

Recently, the fresh FMCG digital retail platform – more Dmall completed the C round of financing of over $ 400 million, led by Industrial Bank, Tencent, IDG, Shenzhen Investment Control and other old shareholders to follow, pre-purchase valuation of nearly 2 billion U.S. dollars. This multipoint Dmall said, no comment.

Multipoint Dmall was established in 2015, the founding team is very luxurious, former Huawei glory president Liu Jiangfeng as CEO, former Jingdong vice president Lin Jie as COO, in the absence of BP, no LOGO, that is, completed 100 million U.S. dollars angel round of financing. Since its establishment, Multipoint Dmall has completed 4 rounds of financing, and in mid-2018, it accepted Tencent’s strategic investment and officially stood in line.

Initially, the positioning of Multipoint Dmall is similar to Jingdong Home, that is, choosing offline stores to cooperate, based on LBS, users place orders in Multipoint Dmall, and then Multipoint Dmall for delivery, with a single store 3 km as the delivery radius.

At the end of 2015, it cooperated with more than 500 supermarket stores in China Resources and Wu Mei, covering 13 cities. However, the profit model was unclear and the problem of unsustainable expansion by burning money soon emerged, and in 2016, Multipoint began to shrink its front and began business transformation.

At present, the business of Multipoint Dmall is mainly divided into two parts: first, based on LBS, it provides delivery-to-home service for access offline retailers, from which it extracts sales deduction points or collects shipping fees from consumers; second, it helps big superstores and small community businesses complete their digital transformation through a technology middle stage based on Dmall OS and MiniOS, the latter of which is also the current business focus of Multipoint Dmall.

Dmall OS includes a business center and a data center that can provide merchants with production systems, commodity systems, procurement and supply chain systems, and warehousing systems to achieve online and offline integration of commodities, members, marketing, supply chain, operations, payments and other aspects. At present, superstores including Beijing WuMei, East China WuMei and Shandong SanXin have already had full system access to Dmall OS.

Unlike Jingdong Home, which chooses to cooperate with large national superstores and implements a multi-format, multi-category access platform in a single city, Multipoint Dmall mainly focuses on cooperation with retail giants in the same region and cooperates with fewer business categories, so users can only see a single Multipoint Dmall cooperative superstore in a certain region.

To some extent, this reflects the difference in positioning between the two: Jingdong Home is an Internet platform idea, aiming to bring more traffic to the offline; Multipoint Dmall is more of a traditional retailer idea, based on traditional retail pain points, starting with the digital transformation of the back end of the store.

At present, Multipoint has cooperated with 112 chain superstores, covering more than 13,000 stores, and as of July 2020, the Multipoint App has more than 18 million monthly active users. However, in the opinion of Liu Guihai, a partner at Multipoint Dmall, the online e-commerce business is just flow and grip, and what (Multipoint) really wants to do is still an integrated digital solution for online and offline.

Even if hometown retailing has become the talk of the town this year, Multipoint’s positioning hasn’t changed. According to sources, after receiving a new round of financing, the main focus of Multipoint is still on technology investment, rather than throwing money at user subsidies and customer acquisition, “which is the typical B-side play”.

Five years after its establishment, the management of Dmall has undergone several changes, and is currently chaired by Zhang Wenzhong, founder of Wumart Group, who is also an investor in Dmall’s angel round; the CEO is Zhang Feng, as the former head of e-commerce at Wumart Group, who is also one of the few founding members still serving in Dmall’s management.

Last year, Wumart acquired 80% of Metro China’s shares, and Multipoint Dmall became Metro China’s technology partner. According to media reports, Multipoint Dmall played an important role in the bidding process, and its digital solutions took up a large portion of the bidding package given by WOMAX, which was the reason why WOMAX was able to beat Yong Hui and other bidding rivals.

In September this year, Metro China’s eight stores in Shanghai have all been connected to the multi-point smart purchase, multi-point APP and multi-point app synchronously opened delivery to home business. The latest news is that the group plans to package three of its companies for an IPO, namely Wumart Stores, Metro China and its digital supply chain assets, which are multipoint.