Interpretation from UC was acquired, ali and baidu investment similarities and differences


article/IT gossip girl

a wholly-owned UC ali, media interpretation, specific how many, how hard the valuation “stock cash” in ali future update of F1 is mentioned in the file, here is not improper suspicion.

as for why choose UC ali, ali why choose UC, there are twists and turns, I believe it will not onlookers in a few words can explain. But one thing is certain, alibaba five years ago compared to the incoming, tencent, baidu has a vision and boldness.

to put aside the so-called business judgment and logical reasoning, I want to compare the investment style of baidu and ali two companies. It, ucweb CEO within the letter, teasing the baidu investment 91 wireless business, let me more interested in ground shaking down the baggage.

in an investment conference, baidu’s head of investment at the soup and loose, head of investment at the alibaba Zhang Hongping share investment philosophy of the two companies, the former is very interesting to comment on the investment under 91 wireless. (in addition, soup and loose Zhang Hongping tsinghua university teacher younger brother, two people have known each other in the university.)

of course, I’m not sure whether soup and loose in baidu investment, but the fact that does not affect the style of this article. Especially in retrospect, baidu and ali do investment, also has good reference value.

the so-called macro trend

2013, and 2014 is the Internet investment m&a concentrated outbreak period.

about reason, soup and said, the first is determined by PC Internet development phase, the second is the wave hit, mobile Internet.

PC Internet, divided into early, stabilization, later period. In the early days, everybody in the sprint, helping each other; Stability, basic is very few, because now is the time to landscape orientation; Later, in the phase of the convergence of a funnel, will appear industry investment in mergers and acquisitions. Soup and said, the convergent stage core investment m&a is to economies of scale, in order to value chain integration optimization of up and down.

the PC industry in China through more than ten years of development, has gone to the convergence of the stage, it is a pattern and sphere of influence.

soup and think, from a tactical level, I think this thing appeared, and the first lot of Internet companies, including baidu, of course, a lot of cash, investment in mergers and acquisitions become possible. Second through more than ten years of accumulation, each big Internet companies cultivate and accumulated a lot of efforts do mergers and acquisitions investment.

baidu investment ideas

baidu investment and mergers and acquisitions, closely around the “strategic”. Soup and said, speak on strategy with baidu have synergy sense, we don’t chase financial investment.

the term strategic eye often empty and vain. However, soup and think, this is the core of baidu investment m&a make the finishing point soul resides.

includes the following three aspects:

1, for strengthening the core business, baidu’s core business is, what is the search, around the search on the core business to strengthen technical platform, model forms, excellent team and so on. (can be seen from this, the baidu pursuit of UC is necessary.)

2, the establishment of the ecological system, baidu’s ecological system is what? Is the website of the Internet, Internet users, which is beneficial to promote the prosperity and survival, and win-win, in our scope to promote.

3, exotic layout. That is to say, to do has the potential to be the core of investment in mergers and acquisitions. The core of strategy is depend on yourself, understanding of core business and strategic relevance thorough insight, embodies in the core business and external opportunities.

ali investment ideas

baidu compared to the investment theory, alibaba is practical and clear.

ali’s investment direction is clear, can be divided into two parts: one part is ali and the integration of the existing business to do more, relatively speaking, this part of the ali will take the way of holding (a majority stake, wholly owned); Another part, alibaba in numerous investment, to take minority stakes. Zhang Hongping says, ali from itself, is a company from the platform to build the ecological circle do scratch, so we actually very stressed in the ecosystem in the layout and win-win point of view.

on the part of Zhang Hongping stressed that today we have business cooperation, not business cooperation, I think the company slowly development can we find a lot of win-win opportunities, so a lot of time is that we adopt the way of an ecosystem to do the layout of the investment.

this sentence in retrospect, I think just confirms, alibaba investment UC attitude and way, five years ago without the outbreak of the mobile Internet, no desire for the mobile entrance, no cooperation see these opportunities, alibaba how from PE investment to become charged with wholly owned?

above, also said that the UC is very accord with baidu investment direction, that eventually become alibaba’s friend, this time, baidu, ali, UC between the story would be very interesting, including before the investor believed to ali also help a lot.

direction of value between the two sides

alibaba and baidu value investment direction: “wireless”.

however, Zhang Hongping did added: over a continuous growth, the economy actually something intangible and logistics, in fact, the share of the national economy is more and more big, this is not to say that we are not material things in trading or material to do more investment, in fact, for example in logistics, we will also do some layout, investment and cooperation, at the same time, I think we will see some other new areas, such as local service life, the cultural industry, is home people don’t go out of stock, now people go out to enjoy the local service, movies, entertainment, Numbers, some of the things, that I think, in this, alibaba will also meet the development of the economy as a whole situation, in some more new areas for more investment and investment.

now, a lot of content for this sentence. Postal service (international logistics), such as investment this year Singapore investment youku potatoes (digital culture), the local service life (Yintai etc)…

can be judged, baidu will continue to invest and ali wireless, and ali would investment areas like said ecosystem, more beyond the boundaries of the Internet.

investment channels source

a lot of people are curious, how giant baidu, ali so looking for a project. Have good project how to let the bosses can have a look.

in fact, baidu and alibaba, roughly the same, a variety of sources, but under my account or separately, and are looking for baidu, ali, or other giant investment company, might as well leave a mind’s eye.

soup and loose, said that a business is recommended. For baidu is a strategic investment in mergers and acquisitions, business department recommendation, eight have a half left, there are probably almost feeling; Second, actively seek to target company, take the initiative to find baidu, the heart of his already feel with what can be done between baidu, also has in the middle. So my conclusion and observation, or free love.

Zhang Hongping said, there will be a variety of channels. Look at different stages of enterprise and project, such as some projects, actually as we invest in gold, weibo, what the project does not need to be introduced, such as chao and Mr. Ma itself to know very well, Scott CFO and himself in the United States is ripe, like natural will have such a relationship, just at the time of investment, both sides can talk about our Shared interests maximization, do not need through other ways to do channel, also does not require the participation of investment Banks, FA, I believe everyone is a team, in fact, the core of the project team do not need a lot of people, are generally about 2, 3, personal organizational resources to complete such a project.

in addition, as to give the value of investment target, explained in a financial model concept, buy it always depends on how much is the independent market value, to you what is the value of the strategy, with a market value, made of strategic significance to the corresponding price caps, talk about the best value in the middle.

the popular point explanation is: a bottle of mineral water can be more than 1.5 yuan, it is a bit expensive, but ravenous, don’t buy no, that’s truth.

Via a catalogue