JM WOWO Established Today, the Whole-Industry-Chain Internet Platform Caused Heated Discussion

Monday, 8 June 2015, 20:16 HKT/SGT

HONG KONG, June 8, 2015 - (ACN Newswire) - JM WOWO, the new company merged by WoWo Ltd. ("WoWo") and Join Me Group (HK) Investment Company Limited ("JMU"), held its first press conference at Four Seasons Hotel Hong Kong today. At the conference, JM WOWO announced its mission to push ahead the internetization of China's catering and hotel industry, to provide higher quality catering and hotel services for consumers, and to establish JM WOWO as the largest whole industry chain B2B2C Internet Company serving China's catering and hotel industry.

JM WOWO will provide two basic platform services for China's catering and hotel merchants: the first is the B2C cloud integration marketing platform which can help catering companies "broaden their sources of income" and lower the sales costs; the second is the B2B cloud intelligent procurement platform which can help catering enterprises "economize on their expenditures", lower the procurement costs, and guarantee food safety.

JM WOWO headquarters in Hong Kong, operating more than 200 branch offices with over 3,000 employees nationwide, and 1,000 top catering and hotel brands in approximately 300 cities in China. The number of cantering and hotel merchants as well as industry suppliers registered on the platform amounts to over 120,000, while that of registered users on the website is approximately 40 million and 20 million of mobile users.

Facing the rigid demand, which is worth over RMB 6,000 billion, for the B2C consumer market of China's catering and hotel industry, as well as the RMB 2,500 billion's procurement demand for B2B supply chain, JM WOWO's B2B2C model works across the upstream, midstream and downstream sectors of the whole industry, to internetize the whole supply chain and whole value chain of procurement, manufacture, marketing and service according to each enterprise's actual operation. Additionally, JM WOWO is to break up the monopoly of industry resources and information through the platform's new business logic and the formation and application of big data. The Company is to establish a safe, open and transparent transaction platform, to provide internet solutions based on the "industries" + "industrial internetazion" philosophy, and to create a brand new "internet+" environment.

Co-chairman of JM WOWO Mr. Maodong Xu, co-chairman and CEO Mrs. Xiaoxia Zhu, co-CEO Mr. Jianguang Wu, co-director Ms. Huimin Wang attended the conference. The combination is honored as a grand event in the internet and catering industries, which attracted professions from the catering industry, cross-boundary entrepreneurs, investors, etc. to participate in. Approximately 200 people, including famous representatives of the catering industry such as Mr. Wei Pan, Chairman of the Board of Ajisen Ramen, and Mr. Guoping Wu, Chairman of Wai Po Jia, as well as cross-boundary entrepreneurs and investors from Goldman Sachs, Shanshan Holdings, Yunfeng Capital, Zero2IPO Group and media reporters, gathered together to witness JM WOWO's establishment.

There is heated discussion about the partnership among all guests. The catering industry, cross-boundary entrepreneurs and investors set a high value on the combination.

Mrs. Huimin Wang, Chairman of the Board of Shanghai Min, also a director of JM WOWO, has actively been forging the partnership. She stated that the partnership between JMU and WoWo was decided after in-depth strategic consideration and practices under new business model, which can be considered as a perfect combination. Mrs. Wang also expressed her high expectations for JM WOWO, hoping the Company to lead China's catering and hotel industry to achieve the genuine digital transformation.

JM WOWO's establishment resulted from the great convergence in the era of "Internet+". The Company's business will be pushed forward rapidly by the brand new business model, the outstanding industry background, the whole- industry-chain industry resources, internet accumulation, branding advantages and capital distribution. In the future, the Company will create the greatest value for both the customers and the society.

About WoWo Limited

WoWo Limited ("WoWo") operates China's leading e-commerce platform on both www.55.com and its mobile applications, focusing on local entertainment and lifestyle services such as restaurants, movie theaters and beauty salons. The company helps merchants create their own online stores to make direct sales. WoWo do not engage in direct sales. WoWo provides a one-stop platform where merchants make direct sales, price dynamically and achieve customer management. In the fourth quarter of 2014, WoWo had 117,889 merchant clients, 78% of which are foodservice merchants. As of December 31, 2014, WoWo had 36.0 million subscribers and 19.6 million activated WoWo Mobile App installed on mobile devices.

About JMU

JMU is the largest B2B procurement platform for the foodservice industry in China. Through cooperation with industry associations and the formation of industrial alliances, JMU has great resource leverage in China's foodservice industry. The company has built cooperative relationship with hundreds of leading catering and hotel brands across China. JMU works closely with various reputable buyers and suppliers in the foodservice industry, providing one-stop procurement service for a variety of businesses including hotels, cafes and restaurants, group catering and QSR companies.

Topic: Press release summary Sectors: Daily Finance
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