On just one day (June 1), the 300 million active users on the Chinese e-commerce giant JD.Com bought 47 tons of zongi. What is zongi? It’s a delicious dumpling made from rice and wrapped in a bamboo leaf.
Zongi is sometimes called the “Chinese Tamale.” Among the most popular makers of this delicacy is Wu Fang Zhai, a company that has gained enormous cache for their delicious version of zongi.
Wu Fang Zhai teamed up with JD.Com (also known as Jingdong) to launch sales of their product into a new stratosphere. Thanks to the unparalleled access JD.Com offers to deep inroads within the Chinese market, sales of zongi have increased for Wu Fang Zhai by an astounding average of 120% per year.
One of the driving factors behind these numbers are Jingdong’s marketing insights made possible by their “big data” capabilities. By careful examination of the numbers, Wu Fang Zhai has been able to tailor-make and highly refine key aspects of their food products to fit the needs of specific groups of people. It’s a prime example of JD’s powerful C2M model (Consumer-to-Manufacturer model).
An example of such an adjustment is the flavor mix of zongi. For example, northern Chinese residents prefer a sweet-style zongi meat while people in the south favor a more salty mixture. But it gets even more complicated than that. As it turns out, JD.Com data revealed that an increasing number of southern Chinese people are moving to northern regions. The ability to pinpoint and follow these kinds of trends allows a company to react and adjust their offerings based on solid knowledge not guesswork
Another key area in which JD.Com market insights helped the giant dumpling seller involved the packaging. Reacting to information gleaned from customer response and other indicators, JD recommended that Wu Zang Zhai update its normal paper box to a larger and heavier box made from bamboo. The bottom line is, the heavier box just seemed more impressive to buyers – and so they bought more.
Wu Zang Zhai has been partnering with Jingdong since 2015 and company officials look forward to many more years of cooperation.
Jingdong’s: Facebook Page.
Fortress Investment Group is one of the companies that have shown tremendous growth and performance over the past years. Having been established two decades ago, the founders of the company had a very realistic vision that seems to be gradually achieved as the time passes. The founders had started the firm as a private equity manager in 1998. Later, other improvements to the organization were incorporated to enhance its growth. Some of the improvements were the diversification of the company’s asset portfolio. Fortress transformed from being a private equity manager to an alternative asset management firm. This was after the introduction of other asset strategies like hedge find, credit fund, real estate and other permanent capital investment strategies.
Fortress Investment Group has had various competencies that have catapult its growth to be one of the fastest growing investment company in the United States and even globally. One of these competencies is the unique expertise in the management of mergers and acquisitions. With the help of its three presidents, Randal Nardone, Edens Wes, and Briger Peter, Fortress Group has shown excellent performance in the engagement of these business relationships with other companies and corporations. The main strategy that the CEOs use to enhance relationship building with other companies is training their staff on the establishment and maintenance of strong business connections with stakeholders from other companies.
This initiative has not been in vain because, in various occasions, Fortress Investment Group has been involved in serious business associations with other business players in the form of M&As and also partnerships. For instance, in 2006, Fortress was fully involved in the purchase of the operator of the largest ski resort in the whole of North America, Intrawest. This was an acquisition that came as a surprise to many and also greatly impacted on the organization’s value after the valuation. Later in the years, Fortress Investment Group has also been involved in several purchases and mergers, all of which have a role to play in the improvement of the company’s performance. The last and the most impactful acquisition that has happened to the company was the one that saw Fortress Investment Group get acquired by SoftBank Group, in 2017.
Back in the year 1998, Randal Nardone was discussing plans of creating a new business with Wesley Edens and Rob Kauffman. He noticed that businesses specializing in financial investments and assets management are the ones that experience a greater success. He told his colleagues that it would be better if they would be leaving the company they are working for in the present, and establish a new one where they would serve as the leader. The three left the financial institution that they are working for, and established the Fortress investment Group in 1998, choosing New York City as the best place to erect their headquarters. Randal Nardone, along with Wesley Edens and Rob Kauffman served as the company’s principals, but Rob Kauffman would later be replaced by Peter Briger as one of the principals after the former decided to forge a career of his own.
Randal Nardone assisted the company in so many ways. He supported the move to open the company for public trading, and he also welcomed the idea of selling 8% of the company to the public through shares. He is a visionary himself, allowing the proposals he knew would be beneficial to the company. Recently, he was appointed as the company’s chief executive officer. He placed an emphasis on offering hedge funds, real estate, and various securities to their clients. He also initiated several investment options to their clients, knowing that it would yield profit after studying one of the market patterns. Being one of the former partners of the Goldman Sachs, he used his connection with the company to help them advance the company to become a larger private equity firm.
Randal Nardone is also one of the prominent persons that helped the company get through the economic crisis from 2008 to 2009. During the last years of the 2000s decade, the company experienced one of the worst economic disasters in recent history. Randal Nardone continued to do business, trading with other companies that are still around during the recession. Through his hard work, the company managed to stay afloat, and the cooperation between the principals have made it possible for them to expand their network and post $65 billion worth of assets. According to Nardone, he feels optimistic about the company’s future. Recently, the Fortress Investment Group made a deal with the Softbank Group, a conglomerate based in Japan. The acquisition made the three principals retain their posts, while at the same time being given a new opportunity to grow further.
This is a financial technology firm based in Atlanta, Georgia, with over 1.7 million satisfied customers. Established in 2006, the firm provides technology to merchants and banks to make GreenSky credit to clients for healthcare, home improvement, solar and other uses. State-chartered financial, federal -chartered financial and federally-insured provide financing for GreenSky credit programs. For four years starting from 2012, the GreenSky credit program had lent out almost $5 billion.
The firm is among the fastest growing lenders in the US, making it easier for clients to access bank loans through a paperless and quick process. By the year 2016, the firm had partnered with 14 banks which included SunTrust Bank and Regions Financial Corporation, who offered GreenSky credit to over 12,000 clients, ranging from individual contractors and retailers such as Home Depot, Inc. through GreenSky mobile app or online platform. Apart from marketing the loans to homeowners, these contractors pay the firm 6% of the amount borrowed. The 14 partner banks pay GreenSky 1% of the amount annually to service and generate them. GreenSky is among the few profitable modern-day middleman firms with minimal risks in existence.
About David Zalik
Even though Zalik had limited education when he was growing up, today he is among the extremely rich executive lot. He is the co-founder of GreenSky, LLC, which was previously known as GreenSky Trade Credit, LLC. Zalik serves as the chairperson of the board of directors, and also serves as the firm’s CEO since its inception in 2006. He is also the Chief Executive Officer and Chairman of Board of Directors of Outweb Inc., a company he helped to establish in 1999. David Zalik also co-founded other firms such as RockBridge Commercial Bank, Resource Institute and Phoenix, LLC.
Zalik previously served as a member of the board of Marcus Community Center, Hands on Atlanta and the Jewish Federation of Greater Atlanta. Zalik was also a Director of RockBridge Commercial Bank. For his effort in the business world, Zalik has won various awards such as the 2003 Catalyst Entrepreneur Of The Year Award, and 2000 Abe Schwartz Young Leadership Award. He was also a finalist for the 2016 EY Entrepreneur Of The Year Award in Financial Services.