Station B's non-game business has made

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Station B continues to increase its investment in platform-made content and third-party copyrighted content, which in turn leads to huge losses.From 2018 to 2021, Station B’s net loss expanded from 600 million yuan to 6.8 billion yuan; in the first three quarters of 2022, it will lose another 6 billion yuan. The continued huge losses may put the management of Bilibili under considerable pressure, and in early 2022, they set a non-GAAP (non-U.S. GAAP) break-even target for 2024. a huge breakthrough, but it has also become a double-edged sword, forcing Chen Rui to personally take charge of the game and reset the strategic bullseye.Station B focuses on games, while Xiaohongshu focuses on e-commerce.Xiaohongshu launched its cross-border e-commerce business "Welfare Society" in 2014, but it did not continue to dig deeper in this aspect. Instead.


Gradually established a commercialization model centered on grass planting and diversion. And at the end of 2020, it opened up with Taobao and injected traffic into the latter through link jumps.But in 2021, rumors about Cyprus Mobile Number List  Xiaohongshu’s imminent listing are endless, and Xiaohongshu has also significantly accelerated the pace of monetization. The key focus is e-commerce. It tried to build a closed loop of on-site e-commerce and keep the transaction volume within the platform. To this end, it also cut off Taobao’s e-commerce external links.However, so far, Xiaohongshu e-commerce has not yet formed a considerable scale to match its 200 million monthly active users.



According to data from iiMedia Research, Xiaohongshu’s e-commerce GMV (total merchandise transaction volume) is less than 10 billion; while Douyin’s monthly activity is about three times that of Xiaohongshu, its e-commerce GMV is as high as 1.4 trillion, equivalent to the latter’s 140 times.The mediocre performance of closed-loop e-commerce prompted Xiaohongshu to reopen its doors. During Double 11 in 2022, Xiaohongshu cooperated with Tmall to create a consumption path of "plant grass in Xiaohongshu and pull grass on Tmall"; two months later, the "Shopping" entrance at the bottom of Xiaohongshu APP was " "Video" was replaced, implying a change in its internal strategic weight.Compared with the circles of Bilibili and Xiaohongshu, Zhihu’s strategic choices are more changeable. It first relied on advertising to make money,