It was a complete vicious cycle.
The bitter fruit Wang Xin had sown himself was finally coming back to bite him.
April 16th, Meituan's daily orders: 37,000!
April 17th, Meituan's daily orders: 24,000!
April 18th, Meituan's daily orders: 15,000!
A staggering sixty percent drop!
Meituan Takeout's operational area might have only covered the two major regions of North China and the Northeast, but it still spanned over 60 cities. On average, this meant that in an area with a population of over a million, there were only about 200 orders per day.
Revenue was less than 30,000 yuan!
That much income wasn't even enough to cover server costs.
Wang Xin hadn't expected the chain reaction from the layoffs to be so much worse than he'd imagined. But there was nothing he could do. His only option was to pull back his defenses and find ways to expand his business boundaries, hoping to survive the first half of 2013.
