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Building a Decentralized Global E-Commerce First-Stop Shop: Exclusive Interview With Dom, Co-Founder of WeShop

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Press Release

Jul 12, 2022 10:00 EDT

Sailing on the scenic Lake Qiandao in the summer of 2020, over Longjing Tea and casual chats about the global commerce space, Dom, Mr. Xuqiang Yue, had a deja vu moment that led to the creation of WeShop (https://www.weshop.com).

Circa 2011, Dom left Alibaba, the e-commerce platform twice the size of Amazon in GMV, driven by his vision of a world with an inclusive, diverse, and fair e-commerce platform for all.

Dom’s first baby MOGU came to life and he has served as director and chief operating officer since June 2011 (https://ir.mogu-inc.com/governance/board-of-directors/default.aspx). With qualities and services almost impossible to distinguish from, there was no organization that could represent and understand what the consumers wanted. 

MOGU treasured the idea of community-driven power. It created a wonderland in the dawn of online shopping, where fellow shoppers shared experiences, where early influencers (before this phrase was as omnipresent as today) could help others discover, and where early forms of live-streaming, now picked up in the US, were pioneered. In essence, MOGU was able to remove the constant noise shoppers face online, lowering the decision cost for consumers. MOGU is now a NYSE-listed e-commerce company.

Following the same logic of MOGU, and driven by the same vision, Dom co-founded www.WeShop.com. WeShop’s value propositions can be translated to “A complete collection of all products online, fastest delivery, better quality, bargains, and fun in shopping!”

In WeShop’s model, this means a platform where a global audience has access to a variety of curated brands or merchants that showcase affordable and quality products:

  • Featuring over 6000 brands (projected to reach 1M by 2023)
  • Offering bargain deals to online Shoppers (a combination of brand partnership exclusive discounts & compilation of existing codes), and
  • Showcasing community-driven reviews of shopping experiences focused on sites/brands.

This is evident in the name itself, “WeShop:” “We” stands for all of us, the consumers, the community. The decentralized experiment takes a three-prong approach in the case of ecommerce:

  • The creation of community-driven reviews of sites, contributing to the site ranking in search. 
  • The distribution of site management, content creation, and operations to community of volunteers who want to share their voices. This is supported by WeShop’s tokenomics, rewarding contributors with a pool of contributor funds.
  • The decentralization of company leadership, gradually moving towards autonomous organization and web 3.0 community ownership model.

Vague as it seems for now, “The blueprint is clear, and the vision is bold and daring” says Dom. Indeed, asked what wisdom he would share with himself 10 years ago — “Be bold. Be Daring. Always remember how it all started, to create a fairer market, to enable customers.”

Source: WeShop

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