Purdue Technology issued an internal letter announcing layoffs, affecting nearly 1,000 people. Some netizens said that the number of employees of Purdue Technology was around 1300 in June. It is said that only 500 people were left in this "slimming". Purdue Technology issued an internal letter announcing layoffs, affecting nearly a thousand people.
Purdue Technology issued an internal letter announcing layoffs, affecting nearly 1,000 people. 1 Recently, Zhang Tao, CEO of Purdue Technology, a commercial robot head enterprise, issued an internal letter announcing that the company would lay off employees. In an internal letter, he said that in order to survive, he had to make a difficult decision to slim down the company's business and team.
At the same time, he believes that from the commercial nature, the entire industry of commercial robots has hardly achieved profitability. When the capital market was good, the problem that commercial robot companies did not make money was covered up. There are many unicorn companies with a valuation of $654.38 billion to $2 billion in the industry, but the capital market may be at a once-in-a-decade low. Only commercial robot companies that can make profits on their own can survive the cycle.
According to Qixinbao data, Purdue Technology was founded on 20 16. Throughout its financing process, it has almost maintained the rhythm of at least one round every year since its establishment (except 20 19), and has been blessed by Tencent Investment, Sequoia China and Meituan for many times, with accumulated financing exceeding1200 million yuan.
With two years' financing of 65.438+0.2 billion, large-scale layoffs are inevitable.
In fact, Purdue Technology is the head enterprise in the commercial robot industry, and its business is mainly concentrated in the catering field. From its product line, it mainly includes a variety of distribution robot products, building welcoming robots and commercial floor cleaning and disinfection robots. According to the latest market share report of commercial service robots in China catering industry released by IDC, the annual revenue growth rate of Purdue Robot in 20021year reached 104%, with a market share of 25.9%.
According to official website of the company, most of its cooperative customers are catering industry head companies such as Haidilao, Xiabu Xiabu, Wangshunge, Dadong and Xibei Youmian Village. In 20 19, its products "Happy Delivery" settled in nearly 300 Haidilao stores, realizing global sales of products.
Judging from the financing frequency of Purdue Technology, it has almost maintained at least one round of financing every year since its establishment, and completed twice a year in 20 18, 2020 and 202 1 3 years.
It is worth noting that with the outbreak of the epidemic in COVID-19, contactless distribution has become a necessity, and commercial service robots represented by food delivery and delivery robots once ushered in a "blowout outbreak". 2020 will also be the year of PE/VC heavy commercial robots. In the same year, Purdue Technology began to gain the favor of giants such as Sequoia China, Tencent and Meituan, and in the following two years, it obtained financing of 654.38+02 billion yuan.
Also in 2020, Purdue Technology began a radical run. According to previous media reports, after the company completed large-scale expansion, the number of employees increased from 300 in July 2020 to 3000 in 202 1,1. At the beginning of this year, some netizens posted that Purdue Technology was laying off a large number of employees.
On July 4th, CEO Zhang Tao issued an internal letter, announcing that "the company laid off employees to survive", which confirmed the previous market news. In the letter, he mentioned the epidemic situation, the impact of the macroeconomic cycle and the undervaluation of the capital market; At the same time, it also said that there must be some disadvantages in the management decisions made by the company in the past, and the whole industry of commercial robots has hardly achieved profitability.
The commercial robot market continues to expand, but the income and profit of enterprises still need to be improved.
In fact, the development of robots in recent years is obvious to all. According to the data of China Robot Industry Development Report (20021) issued by Chinese Institute of Electronics, the global robot market is expected to reach 33.58 billion US dollars in 20021year, with an average growth rate from 20 16 to 20021.5%.
China has become the largest and fastest growing robot market in the world. At the end of last year, an insider told every reporter that China was leading the development of global service robots. In this round of international competition, China enterprises have sprung up suddenly, and both products and production capacity are in the leading position in the world.
Under many favorable factors, Zhang Tao's internal letter revealed that the commercial robot industry almost failed to achieve profitability. He pointed out that operating the main business to make money is the essence of business, so from the perspective of business essence, the entire commercial robot industry has not yet reached the passing line. When the capital market was good, the problem of commercial robot companies not making money was covered up.
However, since the end of last year, the global capital market has turned sharply, and this downward adjustment is long-term. Therefore, all commercial robot companies will always face a problem: how to make profits as soon as possible, realize profits as soon as possible, and realize sustainable management. Only commercial robot companies that can rely on their own profits can cross the cycle and survive in this long winter.
The reporter noticed that the landing scenes of commercial robot companies are mainly concentrated in restaurants, hotels, exhibition halls and hospitals. Different brands are slightly different. For example, Sunny Smart and Purdue Technology focus on catering scenes, Ji Yun Technology focuses on hotel scenes, and Orion Starry Sky focuses on exhibition halls, medical care and other scenes. In fact, in the increasingly fierce competition, the landing scenes between brands are more and more similar, and products are launched in the above major areas.
The above-mentioned insiders also told reporters in the previous exchanges that catering is the largest basic dish in the local life industry, and this field is a battleground for all commercial robot brands. Because of the large one-time expenditure of purchasing robots, the rental model is more favored by restaurant owners. "As for the replacement of manpower by robots, it depends not only on the robots themselves, but also on the management level of catering enterprises. Robot companies need specialized personnel for training and good service. "
In June 5438+10, IDC consulting company issued a document pointing out that although the market of (commercial service robots) has developed rapidly and the market continues to expand, there are still challenges. Some manufacturers have achieved large-scale shipments through low-cost subsidies, but their income and profitability still need to be improved. At the same time, in first-and second-tier cities, some application scenarios of service robots have achieved high penetration rate, but the promotion speed to sinking third-and fourth-tier cities is less than expected.
Purdue Technology issued an internal letter announcing layoffs, affecting nearly 1,000 people. According to netizens, Zhang Tao, CEO of Purdue Technology, issued a letter to all employees, saying that the objective factors in the capital market have reached the worst time today, and the whole industry of commercial robots has hardly achieved profitability. In order to survive, we have to make difficult decisions and slim down the company's business and team.
Blue whale TMT reporter asked Purdue Technology related people for verification. As of press time, the other party did not respond.
Purdue Technology has laid off employees several times this year.
According to the picture information released by @ 京京京京京京, some netizens said that the number of employees of Purdue Technology in June was around 1.3 million. It is said that only 500 people were left in this "slimming".
According to the exposed internal letter, Zhang Tao said that since the establishment of the company, there were several periods when funds were very difficult, including the epidemic that just happened in 2020. In the first half of the year, all employees were scrimping and saving, paying half their wages, and no one left. "However, the company is getting bigger and bigger, and the objective factors of the capital market have reached the worst time. We have to make some adjustments."
Zhang Tao said that the management team of Hopewell Company gave a profound reply to the past management decisions. After the resumption of trading, the company's business objectives in the next six months have been adjusted: returning to the essence of business, improving operational efficiency, and striving to become the first commercial robot company to achieve profitability.
Zhang Tao said that at the end of last year, he and the company's management team were thinking deeply about "how to spend the winter" and made some "slimming" adjustments in business and personnel this year, including the upcoming one.
At the same time, Zhang Tao said that the fundamentals of Purdue's technical operation continued to improve, and in the past June, the sales rebate also reached a new high this year.
He has been invested by Sequoia China and Tencent, and Zhang Tao said that the capital market has entered winter.
According to Tianyancha information, Purdue Technology is an intelligent distribution robot developer, focusing on the mobility of robots. Its core technologies include robot chassis, robot positioning and navigation algorithm, multi-robot cooperation, robot motor, mechanical arm, motion control and motion planning, electromechanical integration design and so on. The company's technology and products cover indoor and outdoor scenes, as well as intelligent distribution services in many vertical industries such as catering, hotels, express delivery, take-away, logistics and warehousing.
Up to now, Purdue Technology has completed seven rounds of financing, and investors include well-known investment companies and institutions such as Meituan Strategic Investment Department, Sequoia China and Tencent Investment. The latest round of financing took place in the C+ round of financing in September 200212002, which was nearly RMB 500 million.
Zhang Tao, CEO of Purdue Technology, graduated from Hong Kong University of Science and Technology. He founded Lei Feng. And became the first editor &; CEO, and then he founded EZ Robotics and became CEO&; Chief Technology Officer.
Zhang Tao said in an internal letter that as an entrepreneur, he was deeply aware that the capital market had entered the winter. "When the capital market is good, the problem that commercial robot companies don't make money is covered up. However, since the end of last year, the global capital market has turned sharply. Under the combined effect of multiple factors, the current capital market may be at a once-in-a-decade low. In such a big environment, the quantity and amount of equity financing in China have dropped sharply this year. "
Zhang Tao said that the commercial robot industry is almost unprofitable, and sustainable management is the key.
In recent years, robots have been gradually used in manufacturing, catering, express delivery and other fields, and the domestic commercial service robot market has shown a rapid development trend. According to the latest report released by IDC, the market size of commercial service robots in China in 20021year was US$ 84 million, up10.4% year-on-year.
According to Zhang Tao's internal letter, the commercial robot industry sprouted around 20 16 years ago, experienced PMF verification in 20 16-20 19 years, and ushered in a relatively rapid development after 2020. There will be nearly ten first-tier companies this year, with sales ranging from 1 billion yuan to 1 billion yuan.
At the same time, with the blessing of capital, the valuation of companies in the commercial robot industry has also risen, and many unicorn companies with a valuation of 6,543.8 billion to 2 billion US dollars have emerged.
However, Zhang Tao pointed out that there is still a soul problem that needs to be solved urgently in the commercial robot industry, that is, the whole industry has hardly achieved profitability; Operating the main business to make money is the essence of business, so from the perspective of business essence, the whole commercial robot industry has not yet reached the passing line.
"And we can't take chances and hope that the capital market will pick up, because this downward adjustment is long-term, so all commercial robot companies will always face a problem: how to make profits as soon as possible, realize profitability as soon as possible, and achieve sustainable management. Only commercial robot companies that can make profits independently can cross the cycle and survive in this long winter. " Zhang Tao said.
Purdue Technology issued an internal letter announcing layoffs, affecting nearly 1,000 people. Three days ago, Purdue Technology, a manufacturer of commercial service robots, announced layoffs. CEO Zhang Tao bluntly said that making money from the main business is the essence of business, and the company has not yet achieved profitability.
In a Letter to All Comrades, Zhang Tao said that the capital market had reached its worst, and the company had to make some adjustments to let some colleagues "graduate" from the company.
He also said that making money from the main business is the essence of business, but the company and even other business service machines are not up to standard. In the second half of the year, Purdue Technology will return to the essence of business, improve operational efficiency and strive to achieve profitability.
Purdue Technology was established on 20 16, and has completed seven rounds of financing. Its strategic investment institutions include Sequoia China, Greater Bay Area Fund and many other well-known capitals. The latest round of financing was C 1 and C2 in September last year, and the accumulated financing amount was nearly 10 billion RMB.
In 2020, Purdue Technology won the title of "Top Ten Quasi-unicorns of HKUST in 2020". However, with the change of the capital market environment, the unicorn once chased by capital has to return to reality and wield the sickle of layoffs.
It is reported that the scale of layoffs of Purdue Technology has exceeded 1000, ranging from 1.600 to about 500, which is basically the same as the number in the initial stage of business.