如涵：阿里投资的明星孵化器，孵化张大奕但苦逼

阿里投资3亿元入股如涵控股，如涵控股创始人冯敏和他的网红搭档张大奕出现在阿里巴巴2017年投资人大会上。张大奕身着自己淘宝店售卖的服饰上台，面对来自各国的350多名投资者和分析师，用杭州腔普通话讲述自己从一个平面模特到微博网红和淘宝店主的经历。

如涵控股成立于2014年，是一家网红电商公司，旗下拥有张大奕、林珊珊、雪梨等一批网红。2017年，阿里巴巴以3亿元投资入股如涵控股，成为其第二大股东。

Alibaba's 300 million yuan investment in Ruhnn Holding Group marked the beginning of a close partnership. In June of the same year, Ruhnn founder Feng Min and his网红 partner Zhang Dayi attended the 2017 Alibaba Investor Conference. Clad in her own Taobao store designs, Zhang addressed 350 investors and analysts from around the world in accented Mandarin, sharing her journey from平面模特 to Weibo网红 and Taobao store owner. 

Founded in 2014, Ruhnn Holding Group is a网红 e-commerce company that includes popular names such as Zhang Dayi, Lin Shanshan, and Sydney Xue. In 2017, Alibaba invested 300 million yuan in Ruhnn, making it the second-largest shareholder.

张大奕的淘宝店成立于2015年，目前已有超过2000万粉丝，年销售额超过10亿元。张大奕的成功不仅带动了如涵控股的发展，也让阿里巴巴看到了网红经济的巨大潜力。

Founded in 2015, Zhang Dayi's Taobao store has accumulated over 20 million followers and generates annual sales exceeding 1 billion yuan. Zhang's success has not only driven the growth of Ruhnn Holding Group but has also revealed to Alibaba the vast potential of the网红 economy.

然而，网红经济并不是一条容易走的路。张大奕的淘宝店经常受到假货、质量差等问题的困扰。此外，网红经济也存在着过度营销、粉丝粘性低等问题。

However, the网红 economy is not without its challenges. Zhang Dayi's Taobao store has often been plagued by issues such as counterfeit goods and poor quality. Furthermore, the网红 economy faces problems such as excessive marketing and low fan loyalty.

如涵控股在孵化张大奕的同时，也面临着诸多挑战。如涵控股的网红电商模式需要大量的资金投入，而且网红经济本身存在着不稳定性。此外，如涵控股也面临着来自其他电商平台的竞争。

While Ruhnn Holding Group has successfully incubated Zhang Dayi, it has also faced numerous challenges. Ruhnn's网红 e-commerce model requires substantial capital investment, and the网红 economy itself is inherently unstable. Moreover, Ruhnn faces competition from other e-commerce platforms.

尽管面临诸多挑战，如涵控股仍然是阿里巴巴孵化网红经济的重要平台。如涵控股的成功不仅为阿里巴巴带来了巨大的收益，也为网红经济的发展做出了贡献。

Despite the challenges, Ruhnn Holding Group remains an important platform for Alibaba's incubation of the网红 economy. Ruhnn's success has not only brought substantial profits to Alibaba but has also contributed to the development of the网红 economy.