Luo Yi Hang: lucky star wigs When 'Kuoshao' in love when Ali 'program ape' Tencent busy in what? article Source: Pingwest? Author: Luo Yi Hang Last December, I 'of the Chinese Internet 2013:' In the big merger 'with the onset of the' fourth pole 'rise' in an article made roughly forecast: Like 'Youku + potatoes' type scale The large-scale merger or capital investment in the coming year will take place several times between Tencent, Alibaba, Baidu and Sina Weibo three giants, UCWeb and Sogou input method the three 'little giant.' Now just over a third in 2013, you've found similar between the capital more than a few companies have almost achieved, and invariably associated with Alibaba: UC further holdings of shares, $ 586 million investment Sina Weibo, of course, including Alibaba Sogou shares repurchased. Alibaba become the largest series of Chinese Internet driving force behind the capital, it has become a very interesting phenomenon. Over the past two years, Alibaba, Baidu and Tencent investment mergers and acquisitions department are very active investment and acquisition of various types of start-up companies, but apparently not in China to acquire talent and technology acquisitions this different from children, the giants of the capital can be used almost 'Strategic Investment chobits wigs / acquisition 'is defined, and its essence only two things: business integration and alliances. Investment Weibo is a typical strategic transactions, outright capital. Followed by the two sides and their 'account interoperability, data exchange, online payment, online marketing' in the press release and the 'socialization electricity supplier' and so round and round, it would be better directed at the core of the deal: Recent both sides need a more complete capital story, a clearer valuation, a clearer boundaries. A more complete story of capital: Alibaba and Sina Weibo next year, each of which has a 'perfect' capital story to tell Wall Street. A 'Taobao Alipay + + local life' concept does not hold up Alibaba's valuation of $ 100 billion, while traffic behind kekkaishi cosplay microblogging, content and social media effect is to add a new sub-story, one by 'data + Advertising + payment 'to maintain the e-commerce model is the current favorite of Wall Street heard the story; the story of a simple micro-Bo has become increasingly reluctant to speak up, but to give it the color of e-commerce will make the story become different - Because Twitter but also on Wall Street in 2014 tell a similar story. A clearer valuation: Alibaba start again the overall market will likely become a $ 100 billion company, it needs all the elements of this valuation has become more solid and reasonable. Sina Weibo, the $ 5 billion from its $ 10 billion valuation of the end of 2011 to the recent DST enters the legend, and then Alibaba now $ 586 million in exchange for 18% of the shares and the largest single shareholder identity equivalent of $ 3.2 billion, although the way diminished, but Alibaba's investment should be given a microblogging future valuations generally clear, or is an explicit reference price. Never any 'Ali wave' - Ali Baba and the Sina microblogging future are two separate listed company, it may be more than just a market capitalization of $ 100 billion, another 30-40 billion. A clearer boundary: the future of Sina may not make their own e-commerce and 'micro-payment', and Alibaba will not frame their own social networks. Sina microblogging Alibaba will further 'down flow', the future value of UC is also likely here. But the next step is not necessarily a clear boundary is the so-called angel sanctuary wigs 'open data' or product integration. Weibo will not necessarily completely bet on Alibaba. Compared to their stories listed in 2014, these things are not the most important. This is a typical 'play capital' of the company to expand investment. Whenever a major capital program listing approaches, Alibaba will always recount some of its business structure by means of capital operation, then tell a new story to gundam seed wigs listen to Wall Street - Chinese Internet companies who did more good than Alibaba matter. 2005 capital transactions with Yahoo is also such a thing, of course, the result is what we have seen. But better at doing business with the capital's layout Alibaba indeed won at least face a passable 'strategic alliance' - even in China, you seem to be hard to find a really good job of what can the Internet giant. At least, Alibaba recently through the capital to achieve two important strategic partner - Sina Weibo and UCWeb, is Baidu also needed. But apparently the 'play capital' it, either the cards or decisions, are much more jerky than Baidu Alibaba. If we Chinese Internet giant into two categories, then, the pattern has become increasingly clear: one is the desire to reach a strategic alliance through investment in the secondary market on the mainstream players to make up their own business short board to form their own Loose walled garden, and thus gain the trust of the capital market, Alibaba and Baidu fall into this category, but came out on top than Baidu Alibaba. The other is to stick to their 'make products' can move about independently from invading the construction of the moat and, for now, only Tencent. So, have a strategic investment in Alibaba and Sina UC microblogging two different line are Tencent competitors (and perhaps also add unfamiliar street) at the same time, has been forays in the field of investment and mergers and acquisitions, but less There are massive gains Tencent done? look because of the success of micro letter, it seems everyone thinks that Tencent is the only mobile Internet giant to buy a ticket, but it really is such a thing? may all be rampant recently 'Micro-letter can replace microblogging' comments to McCain dizzy, but forget a basic fact that Weibo commercial attempt, whether it is brand advertising or e-commerce or data mining, much earlier than the micro-channel. So far no real micro-channel complete and clear picture of the commercial - several micro channel public number there to do marketing and CRM customer service with real commercial micro-channel is not the same thing. In Alibaba, Sina Weibo and UCWeb these players through vertical and horizontal ways to build barriers to what they need at the same time, buried himself hopes to 'make goods' to make an ecosystem Tencent, but because there is no micro-channel psychological preparation of success, into an internal struggle and internal friction in. Just the fact that you know a few points clear at the other giants and major players are busy when an alliance Tencent what to do: First, micro-channel commercial - either lightweight or pay social gaming platform or a business customer, are Without a clear plan, which involves communication and coordination inside the micro channel team and interactive entertainment, e-commerce and TenPay Tencent internal departments, but because of the complexity of the interests of checks and balances, so far there is no mutually acceptable solution; in on Should the commercialization of micro-channel, the first step is e-commerce or gaming, is an open platform or its own R \u0026 D aspects, Tencent released by the various departments of foreign voices are not the same; second, mobile QQ micro letter Cosplay Costumes is a comprehensive product line and copy the basic functions, internal competition and resource allocation increased competition; third, micro-channel and long-term game operators and regulatory bodies will involve its long-term development. We 'When micro letter into with operators tug of war, LINE doing' a paper compares the LINE recent digital content to sell and peripheral products in the field of a series of commercial promotion, with the micro-channel and domestic carriers Game and commercialization Progress stagnating situation. In fact, from another dimension is also very interesting contrast: While other giants and secondary giant mutual alliance delineated new boundaries when Tencent in addition to a series of popular investment areas (such as a taxi, Brush ROM, mobile phone synchronization assistant) startups outside, it became an industry, 'isolated' giant - and its external and internal loss the game, to make it 'big change' in the Chinese Internet era of new frontiers and accelerate interaction camp, but slowed down . From the current micro-channel open and commercialization of stagnating the situation, this 'great' products to the peer sense of threat and unease, and other giants even more than it is with the micro-channel reshape an open ecosystem reliable sense. Alibaba's capital that has been around the opponent's body may produce a product line Tencent in any competitive relationship. In this case, faced with internal and external collision, seemingly fast, real slow and Tencent micro letters, really is quite passive.