Alibaba recently launched a new e-business production Yuebao, which aims at  online financial fund, including corporate debt and government bonds. Significantly and surprisingly, without any marketing strategy, “Alibaba’s Yuebao has grown to 2.5 million users who have collectively deposited RMB 6.601 billion ($1.07 billion)” within only half a month.

Though there was no specific marketing plan, I see advantages of Yuebao. Obviously, the value of the brand Alibaba arises public attention, since they already succeed on a third payment platform Alipay. In addition, Yuebao exactly feeds consumers with value proposition. With higher interest rate than most banks, it easily attracts customers. Also, as Yuebao is connected to Alipay, it achieves a broader business with multifunctional transaction, for instance, transfer money and payment for online shopping. Besides, Yuebao launched its program on App store, which makes it more convenient on cell phone.

Jack Ma, the previous CEO of Alibaba commented that “China’s financial industry, especially the banking industry, only serves 20 percent of clients, and I see there are 80 percent of the clients are not covered. Financial services should be about serving the layman, rather than playing inside your own circles and make money yourself.”

Some netizens are impressed and believe that China’s finance industry will occur an earthquake since Yuebao makes a huge change within an expanding range.

Personally, I worship Jack Ma who is so creative that encourages lots of Chinese people, no matter as a consumer or as a learner. Through his several speeches, you can tell his value and conscience, that is the reason he gain trust from public. Finally, a little story to end the introduction is that my mother has already put her money in Yuebao.

Link: Short Video  Alipay service gains rising popularity

Reference:

Alibaba’s New Online Personal Finance Product Hits 2.5 Million Users, $1 Billion Already Deposited (http://www.techinasia.com/alibaba-yuebao-personal-finance-product/)