Meituan's Wang Putong discusses Taobao Quick Purchase's 50 billion subsidy: without spending 8 billion, the actual investment is far less than Alibaba's.

Today, according to a report by LatePost, Wang Puzhong, CEO of Meituan's core local business sector, mentioned the impact of the recent 50 billion yuan subsidy by Taobao Flash Sale on Meituan. He said that this is definitely an irrational competition. By irrational, he means that they think that offering 50 billion yuan will scare us, betting that we can't keep up, after all, the top companies in the e-commerce industry make a lot of profit. What's more, they have set a radical goal - hoping to surpass us in terms of order volume. But they will soon realize that not only can we keep up, but we also use much less resources than them. He mentioned, "We didn't spend 800 million yuan, the actual investment is far less than Alibaba's."