See how Xiaomi can achieve a valuation of 10 billion with a scooter?
How hot is the market for electric scooters? Industrial design companies of various manufacturers have successively explored their own markets, leading scooters to the vane of the boom in mobility and becoming the main travel tool in the future.
Xiaomi scooters have always been one of the giants in the industry, accounting for nearly 80% of the global electric scooter market share. As an electric scooter company under the Xiaomi industry chain, Ninebot's more well-known product in China is the Mijia balance car.
In 2014, Ninebot and Xiaomi jointly built the No. 9 balance car, which was priced at 1999 yuan, and sold tens of thousands of units on the day of sale. In October of the same year, Xiaomi joined Sequoia and Shunwei to invest $ 80 million in Ninebot, and became a shareholder of Ninebot. Now, of the company's 8 largest shareholders, Xiaomi's Shunwei and People Better still occupy two seats.
In 2016, the company ushered in the first explosive growth. Of the 1.153 billion yuan in revenue, Xiaomi's purchase accounted for 55.75%, and this proportion soared to 73.76% in the next 2017.
Since the acquisition of Segway, Ninebot has had few competitors of the same size in the world. Most of the domestic competitors are copycats, while overseas industrial design companies have difficulty shaking Ninebot's position on price. Xiaomi has a huge advantage in the supply chain, sitting on Ninebot's tens of billions of valuations.
Before the rise of the shared travel market, no matter whether Ninebot or Segway, their scooters took the toy route. More consideration was given to entertainment needs than the travel itself. The mileage and durability were both flawed. In the future, the No. 9 robot should deepen the technical usability of the product, expand more markets, and promote the rise of the domestic shared mobility market.