Live-Streaming + E-Commerce = Can Increase… Transparency + Interactivity + Influencer Engagement TaobaoLive Kuaishou MOGU $14B+ Live-Streaming GMV Live-Streaming Live-Streaming = 24% of GMV in 2018 Shopping 4x Repeat Purchase Rate Source: Alibaba, MOGU. Note: MOGU GMV for the year ended March 31, 2019 Internet Trends 323 2019