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How Xiaomi CEO Lei Jun Succeeded on Douyin, China’s Answer to TikTok
Did you watch the livestream of Xiaomi CEO Lei Jun on Douyin, China’s answer to TikTok? If so, you’ve probably already seen some of the amazing results it has reaped. Those viewers spent more than 50 million RMB watching the video and purchasing the products the company was promoting. The video was a promotion for Xiaomi products such as the Mi 10 Ultra, a flagship smartphone that supports 8K videos. It is also one of the most expensive smartphones, selling for 5,299 yuan.
Alibaba xiaomi lei jun tiktok
The founder of technology company Xiaomi, Lei Jun, took part in a two-hour livestream on August 16. The livestream attracted over 50 million viewers and resulted in 210 million RMB in sales. The livestream featured Xiaomi’s flagship smartphone, the Mi 10 Ultra. This smartphone costs 5,299 yuan and supports 8K videos. In the livestream, Lei Jun was accompanied by Lin Bin, Zhou Guangping, Wong Kong-Kat, Hong Feng and Wang Yi.
ByteDance
In 2012, a group of geeks in Beijing started the company ByteDance, which would soon become one of the world’s most valuable private companies. The company has become a leader in artificial intelligence and employs thousands of people, but is now a top competitor of Alibaba and Tencent. While the companies are fighting for market share, many of China’s most promising entrepreneurs have shied away from the spotlight. Founder Colin Huang resigned from Pinduoduo in March, and ByteDance CEO Lei Jun took a leave of absence this month.
Xiaomi’s CEO Lei Jun’s livestream
Xiaomi CEO Lei Jun recently completed a two-hour livestream, which attracted over 50 million viewers and generated over $30 million in sales. The livestream, which took place on Chinese short-video platform Douyin (Chinese TikTok), was an incredibly successful way to promote Xiaomi products. The livestream also sold a ton of products, including the flagship Xiaomi Mi 10 Ultra.
Ji is also well-connected with a network of friends and family. He understands patterns and has the courage of conviction to act on them. He has mentors who have seen his growth, including Mary Meeker, who was his former mentor at Morgan Stanley. And Ji is far from ordinary; he’s obsessed with analysis. According to a former classmate, Ji has a “passion for analysis.”
AI-driven recommendations
ByteDance, an artificial intelligence-driven e-commerce startup, said it plans to use AI algorithms to feed users content during online shopping. It expects Douyin users won’t be able to resist buying goods after watching video content on the app. The company is planning to generate $40 billion in ad revenues this year. Despite this, Douyin has a few snags that will likely affect the future of this tech platform.
First, Xiaomi has begun hosting livestreams promoting Mi smartphones and TVs. The founder of Xiaomi, Luo Yonghao, was once a high-flying entrepreneur who wanted to take on Apple Inc. with his smartphone business. In his first livestream, he sold $17 million of merchandise. That success has led to other high-profile partnerships for Xiaomi.
Brand representatives
The company is a juggernaut that has grown to become one of China’s top smartphone makers, trailing only Apple and Samsung Electronics in global market share. Xiaomi, however, is still limited by political restrictions and needs a powerful ally to get past the restrictions. Despite this, Xiaomi’s CEO, Lei Jun, has made the decision to expand its partners board to include other brands, similar to Alibaba’s partnership system. The board is largely composed of industry leaders who exert influence over the culture and direction of the company.
Xiaomi CEO Lei Jun has been making headlines in China recently after hosting a livestream promoting its Mi TV and Mi smartphone. The video captured on the social network site reportedly received 50 million views, and was responsible for 210 million RMB in sales. The video featured Xiaomi products, including the Xiaomi Mi 10 Ultra, the company’s flagship smartphone that can shoot 8K videos. The price of the device is a whopping five thousand yuan, and Lei Jun has voting rights of more than 50%.
China’s e-commerce market
The success of Chinese e-commerce has been largely driven by innovations that are unique to the Chinese market. Alibaba, for example, was the first company in the world to pioneer social commerce. Last year, Alibaba’s Taobao Live generated more than $400 billion in gross merchandise value, and Kuaishou Technology’s social platforms hosted 381 billion transactions.
In recent years, Xiaomi’s e-commerce business has been boosted by livestreaming the sales of its smartphones and TVs. The Xiaomi CEO, Lei Jun, has also made news by expanding the partners board. The partners board works in a similar way to Alibaba, but has more authority to influence company culture. Recently, Xiaomi also unveiled a 10-year strategy focused on smartphones, artificial intelligence, and the Internet of Things. The company ranked 422 on the Fortune Global 500.
