Jmu Limited (NASDAQ:JMU)

Thursday, February 13, 2020 | Web News
SHANGHAI, Feb. 13, 2020 /PRNewswire/ -- JMU Limited (the "Company") (Nasdaq: MFH) today announced that the...
Friday, January 3, 2020 | Web News
SHANGHAI, Jan. 3, 2020 /PRNewswire/ -- JMU Limited (the "Company" or "JMU") (Nasdaq: JMU)...
Wednesday, November 20, 2019 | Web News
Third Quarter 2019 Financial Results Revenues were $580 thousand for the third quarter of fiscal year 2019. Non-GAAP net income attributable to the...
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We operate one of China's leading third-party e-commerce platforms, focusing on local entertainment and lifestyle services such as restaurants, movie theaters and beauty salons. We do not compete with our merchant clients by offering our own goods and services nor do we keep inventory of any merchandise. Our unique platform allows local merchants to customize and manage their online stores, make direct sales to their target customers and process a large volume of online sales for consumption at their brick and mortar stores. According to iResearch, our platform represents the largest e-commerce platform for local lifestyle services in terms of number of merchants and registered users as of June 30, 2014. As of September 30, 2014, we have also established a nationwide network of merchant service centers to support local businesses in 150 major cities and population centers across China.

Our platform consists of an e-commerce website, "WoWo Mall", a mobile commerce infrastructure, "WoWo Mobile", and an electronic management system, "WoWo EMS". The three components of our platform are designed to create an integrated network that enhances the interaction between businesses and consumers that reinforces brand awareness and fosters repeat customers for our merchant clients.

Our "WoWo Mall" website located at 55.com is used to promote and market our company's brand eminence and complete e-service platform by exhibiting our merchant client's online stores and introduce certain selected services and products. Potential customers may then be directed to 55tuan.com to obtain information on the latest attractive offerings available through such merchants. We began our business as a group buying website under the brand "WoWo Buy" located at 55tuan.com in March 2010. We quickly found that the group buying business model did not fully meet the needs of local service providers. While the group buying business model often helps merchants increase their sales by selling extra capacity, we believe it does not, as a stand-alone offering, significantly promote brand awareness for the merchants or create customer loyalty to the merchants. Merchants also face additional margin pressure from the fees charged by these group buying sites that could further erode their margin. For example, flash sales conducted by third-party group buying websites often promote the brands of the websites over the brands of the merchants. At the same time, local merchants continue to have limited branding power or control over the marketing direction. By June 2012, we augmented our WoWo Buy model with our promotional portal at 55.com to complete our WoWo Mall. WoWo Mall not only permits merchants to establish their own online stores, it also allows the merchants to increase their branding power by providing them with customizable features to establish the look and feel they want to be associated with their brands. In the third quarter of 2014, we hosted and provided operating services to over 100,000 local entertainment and lifestyle merchants on our websites.

Our "WoWo Mobile" services focus on enhancing the real time interactions between consumers' mobile devices and our e-commerce platform. Since most local merchants in China have a geographic coverage of only a few miles around their brick and mortar stores, location-based search result is the best way to provide local merchants with access to instant potential customers within a few miles around their stores. As of September 30, 2014, we had 17.3 million activated WoWo Mobile App installed on mobile devices. We believe a significant portion of our nationwide subscriber base can still be converted to mobile users, which will continue to facilitate the expansion of our mobile commerce business with low subscriber acquisition and retention costs. As of September 30, 2014, approximately 64% of our monthly gross billings were derived from mobile device transactions. In July 2014, we launched our latest "WoWo Merchant App", a customized storefront on mobile devices that integrates reservations, payment, special promotions, membership management and other features which enables local merchants to directly self-manage their marketing and sales campaign on mobile devices.

Our "WoWo EMS" is a proprietary electronic management system designed for the local merchants. WoWo EMS provides linkage to our central server and facilitates a number of back-office services to our merchant clients. Through WoWo EMS, our merchant clients may also instantly communicate with the WoWo Mobile App utilized by our retail customers. This extends the capabilities of WoWo Mobile by providing our merchant clients with additional customer relationship management tools, such as sending follow-on promotional messages to customers with identifiable purchasing habits.

We believe our focus in helping local merchants to promote their own brands distinguishes our platform from other e-commerce providers in China. With the technical support available through 150 service centers and over 2,000 merchant service representatives, we have empowered local merchants with limited resources to create sophisticated online branding campaigns and offer better integration of their online and offline resources. With the promotional power of our WoWo Mall, the ability to capture mobile consumers through WoWo Mobile and the specialized electronic management system of our WoWo EMS, we believe we are uniquely positioned to fulfill the needs of local merchants and can be the trusted one-stop e-commerce platform for them.

Web site: http://www.55tuan.com/

Last updated January 9, 2015