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recently, a user posted on the internet that jingtaotao, an e-commerce software that implemented the "refund only for all" rule, was suspected of running away with the money, which attracted attention on the internet.

according to poster news, on the afternoon of september 19, a staff member from the general department of jingtaotao responded that the content circulated online was a rumor and the company is currently operating normally.

the above-mentioned staff member said that the online content was malicious smear. "after jingtaotao was fleeced by a gang, the platform began risk control review. the gang found out that we were investigating and we were also taking legal action. after receiving the lawyer's notice, this group of illegal users suddenly left messages all over the platform. as a platform that was fleeced, we wanted to recover our losses but were smeared on a large scale."

according to red star news, on september 19, two jingtaotao users said that they applied for a refund after placing an order on the platform but failed, and the platform did not refund the money. the relevant person in charge of jingtaotao responded that the claim of running away with the money was not true, and the company was operating normally. "some time ago, the company was 'fleeced' by a group of users with premeditation, so we strengthened risk control management."

jingtaotao is affiliated to shanghai jingduobao e-commerce co., ltd. according to industrial and commercial data, shanghai jingduobao e-commerce co., ltd. was established in may 2019. the legal representative is lin jinfan, with a registered capital of 10 million yuan. it belongs to the retail industry and its business scope includes internet sales, domestic trade agency, information consulting services, etc.

in june this year, a press release involving jingduobao stated that the company has two wholly-owned subsidiaries, as well as jingtaotao convenience store co., ltd. and jingtaotao business school co., ltd. the company's technology research and development headquarters is located in tongzhou district, beijing, and has gathered a large number of top technical talents including overseas phds in economics, statistics, computer science and other disciplines.

in july this year, jingtaotao's official website stated that jingtaotao, an innovative e-commerce platform that successfully implemented the "all-people only refund" rule, recently completed an angel round of financing of 500 million yuan, with investors including accelcapital, sequoia capital, and zhongqing investment. after this round of financing, jingtaotao's valuation has reached about 5 billion yuan. jingtaotao's official website also stated that in the first month, jingtaotao app had 20,000 high-end users and more than 1.5 million mass users, with a retention rate of 96% in the second month, among which the average customer price of high-end users reached 50,000 yuan.

however, some media reported that sequoia china said the news of the financing was false and they even warned the company over the phone.

in july this year, jingtaotao’s official website announced that “new customers can get a refund for any item purchased below 600 yuan.”

on the jingtaotao app, the layout is similar to that of e-commerce platforms such as taobao and jd.com. the homepage is made up of product cards with a "refund only for all" logo under the card. when you click on the product card, you can find that the products are divided into "refund only for all" price and "buy now" price, and the gap between the two is quite large.

take a certain brand of wet toilet paper series wet wipes (40 pieces * 5 packs) as an example, the "buy now" price displayed on jingtaotao is 30.9 yuan, while the "refund only" price is 207 yuan. the same number of wet toilet paper series wet wipes of this brand costs about 18 yuan on taobao.

taking the iphone 15 plus (256g) as an example, apple's official price is rmb 6,999, and the price for choosing the "universal refund only" channel is rmb 47,988.

according to the jingtaotao membership activity rules, only users who have activated membership can purchase goods at the "universal refund only" price and apply for a refund only service. after signing for the goods, they must complete the supporting membership tasks or supporting points tasks before they can initiate a refund only application.

currently, jingtaotao has nine levels of membership to choose from, with membership activation fees ranging from 188 yuan to 28,888 yuan. depending on the level of membership, the amount of refunds per quarter, month and item will also vary.

screenshot of jingtaotao app

in a post on xiaohongshu on september 2, a corporate certified account named "jingtaotao business alliance" responded to users' questions about "being under review and unable to withdraw cash" by saying that the system was under maintenance and asked users to wait patiently.

the announcement on refund only for all users released by jingtaotao on september 16 shows that in view of the recent emergence of some arbitrage and wool-pulling behaviors, jingtaotao will solemnly initiate the corresponding processing procedures. for users who shop normally, jingtaotao will strictly follow the normal process to carry out refund only for all users.

edit|lu xiangyong du bo

proofreading|cheng peng

daily economic news is compiled from poster news, jingtaotao official website, etc.

daily economic news