The current red envelope function can be understood as a layout of ByteDance in the financial industry. In the future, when the number of users increases, it can penetrate into the fields of lending and payment. External causes 1. User competition After the launch of Duoshan, everyone agreed that Duoshan’s target product was WeChat, and it was competing with WeChat.
However, from the perspective of WeChat, it does not actually think that Duoshan is a competitive product, and the reason is very simple: Duoshan currently does not have the ability to compete with it. Its actual competitor is Douyin. "A product is eliminated, not sms marketing service by your competitors, but by your customers." Intuitively, Duoshan and WeChat are direct competitors, but in fact Douyin is WeChat's competition Like the war between QQ and Weibo, the resources they compete for are users. When Sina Weibo was born, QQ was facing a formidable enemy and launched a product called
Tencent Weibo to boycott it, but the actual results were not ideal. It was not until the launch of WeChat that Ma Huateng said with confidence: "The war with Weibo is over!" Now the war is on again, with WeChat taking QQ's place and its rival Douyin.