Capital and electricity trader Enter honeymoon period: O2O concept upgrade valuation

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The heavy investment in electricity business, which has been stifling for nearly two years, has suddenly broken. July 22, the luxury electric business Platform Temple Network received 100 million dollars a new round of financing news, brush the electricity merchants Circle of friends. Not only the Temple network, the first half of this year, the electric business and capital seems to enter the "honeymoon period" overnight, listing, mergers and acquisitions, financing, entrepreneurship, very active.

This round of investment heat, O2O concept of the heat, especially for the service sector of the electric business is more so, and the vertical electric dealers regain their favor, the coincidence of the concept of consumer upgrading is the valuation soared, and a number of third-party providers to invest. For these changes, experts believe that the bottom line is that mobile internet technology to bring about changes in consumer behavior, so that the value of many electric business enterprises have been found, and thus the capital to compete for those who have the concept of the future of the electric business.

O2O Concept Upgrade Valuation

Although there has not been a continuous profit or can be taken out of the case, but the O2O concept of the heat is not expected to extend to the investment field.

According to the China e-Commerce Research Center monitoring, 2013 has disclosed China's E-commerce investment and financing incident total of 165, of which venture capital 152, the total amount of more than 2.63 billion U.S. dollars, mergers and acquisitions of 10, the amount of more than 700 million U.S. dollars, IPO2, raise the total amount of about 140 million U.S. dollars; The amount of money raised is 180 million dollars. If the relatively depressed 2012, the last year is a steady rebound, then into the 2014 is a big step towards the capital market.

This round of electric business enterprises have been invested in three-dimensional, multi-directional, multi-angle characteristics, both Jingdong, Ali, such giant enterprises in the capital market, the dazzling performance of the Temple network, the global easy to purchase such as vertical electric dealer hundreds of millions of yuan level of large-scale financing, there are large network, Honey bud, baby. In this way, the vertical electric dealer in the subdivision area obtains the investment of B-round, and many Third-party service enterprises such as the micro-union and the roll-skin net get capital injection.

Compared to the peak of the previous round, the diversification of the type of investment, the richness of the financing form and the diversity of valuation angle are unprecedented. Therefore, the electric Circle Party, we feel: "Good day again!"

The analysis of these enterprises, most of which include O2O concept, is due to the phrase "these days do not say a little O2O, you are embarrassed to say that you are a mixed electric business." With the concept of O2O, the value of the immediately doubled. For example, the temple network was invested this time, the amount of 100 million dollars was unexpected by many people. According to Li, chairman of the CMC (Chinese Culture Investment Fund), as a brand integrating all elements of the luxury industry chain, the "o2o+ One-stop service" model redefined the service and value system of the current Chinese luxury and high-end fashion electric industry, which is also the reason for its bullish business.

Whether or not to find an effective and sustainable O2O operation mode, the first to apply O2O to the service side, to enhance user experience and improve user stickiness, are the standard action of the electric Business enterprise. This is the front-end and follow-up services in the important position of the electric business, the PC era is a rare competitive advantage. Therefore, we see, such as the Temple of luxury electric dealers, such as Honey Bud Baby electric quotient, such as the Great Park network to emphasize product safety of the first electric business, all with O2O way to complete pre-sales education and after-sales service, and successfully attracted to the recognition of investment institutions.

Another major function of the O2O concept is large data, although this function is not as obvious and useful as the service, but the concept of more layout is the future, who first set up their own data system, who will win the initiative in the future. Because the use of large data functions, the future can be accurate to find new users, reduce marketing costs, and through targeted personalized marketing to reach the old users. This point, the Great network CEO Zhiquan Deep experience.

Zhiquan told the "China Business newspaper" reporter, the park's users located in the textile products of the safety of highly concerned consumers, "we just do a good product research and development, good customer service, the result of natural waterway drainage." "Therefore, the network more rely on Word-of-mouth spread, and the use of large data to find accurate customers." Performance in operating costs, that is, the marketing costs of the network has fallen year after year.

In the third party service provider Vice President Ji Sanyong, the current round of electricity business investment is more due to the mobile internet new technologies brought about by the changes in consumer behavior, the vertical electric business has emerged new opportunities. From the case of the network can be seen, O2O for some niche areas, emphasizing small and beautiful brands, opened its future development space.

From another point of view, these small and beautiful brands, also coincide with the development of the process of consumer upgrades. This kind of enterprise customer repeat purchase rate is very high, relying on O2O can manage their existing user groups, improve the rate of repeat purchase, but also through Word-of-mouth spread to new customers, while large data can be more accurate, low-cost to find new customers, pull the new cost is greatly reduced, as long as the control of their supply chain, The size of enterprises will generally be a steady expansion of the trend.

Increase the value under the activating line

In this round of electric business investment, the high amount of investment is a notable feature. For example, domestic listed companies hundred round trousers industry, due to the recent announcement will be 1 billion yuan price acquisition of Cross-border Electric platform global easy to buy and attracted attention, the continuous pull out 4 board, known as the "textile first demon stock."

Global easy to Buy is a cross-border export of retail electricity dealers, directly facing overseas end-users, in the domestic and not much reputation. Therefore, when the hundred-round trousers industry announced the purchase of 1 billion yuan, many people in the industry questioned for speculation. However, raising valuations through Cross-border concepts has become a begotten for power companies, such as opening up overseas markets through cross-border electricity dealers, and O2O and incorporating them into the electricity business, in conjunction with search or finance.

Because the concept of purely electric business, the capital market has fatigue, and the electricity market can not expand indefinitely, there is always a turning point, and many of the current view of the electricity market is not far.

According to the first quarter of 2014, China's online shopping market data showed that 2014Q1 trading was 456.44 billion yuan, up 27.6% from a year earlier, slowing growth. Eric Consulting that China's online shopping market after more than 10 years of rapid development, the overall market gradually mature, but with the continuous improvement of the online shopping environment, consumer habits are increasingly stable, online shopping market will maintain a smooth development, is expected to maintain the annual growth rate of around 30% in 2014.

In this regard, ping an Securities analyst Bang Hao also analysis that the mode of innovation and technological progress in the past 5 years to promote the brutal growth of electric dealers, but now began to develop a turning point. "In the short 10 years since 2003, the growth rate of domestic online shopping has been phenomenal, which is beyond the experience of any developed country," he said. And with the flow of dividend era gradually faded, online shopping mainstream category consumption habits of the curing, these companies scale effect and growth rate began to decline, integrated platform, the electric trader began to appear growth inflection point. ”

At this time, the emergence of the concept of O2O, so that the electricity dealers have to take the opportunity to integrate offline resources, long been seen under the line of resources under the value of revaluation and investment opportunities, and some of the offline resources are expected to be merged into the valuation of the electric business enterprise. Because logistics and warehousing are the key to the decline of electricity quotient, however, considering the power of the electricity business, the construction of logistics and warehousing is not realistic, so the electrical business enterprises must work with the offline commercial channels for deep cooperation, this cooperation process may trigger the value revaluation of the relevant listed companies, and finally in the capital market to reflect.

On the other hand, under the impact of mobile internet technology, the change and transformation of enterprises are often more likely to be favored by capital. Clothing, such as garment manufacturers and Korean clothes and split silk, in the existing products continue to develop new products in the field of segmentation, through multi-brand operation to obtain new growth pole, more adapt to the development trend of E-commerce.

Mo Dai, senior analyst at China Electronic Commerce Research Center, believes that the future of E-commerce will move towards mobility, industrial chain and supply chain full flow, and search engine platform and offline entity store platform Integration trend. Companies that can keep up with industry trends and actively seek change have huge investment opportunities. And the capital side is concerned about these directions. In other words, it is easier to invest in those who have the power to adjust in these directions.

However, there is a different point of view on this round of electricity business investment. Internet analyst and 3W Coffee founder Xu Just think that the current investment fever may be the next round of investment in the winter signs. He argues that much of the investment is now due to the eagerness of some investment firms to throw in the money they have, and to use the heat of the moment to melt new money in case of a capital cold that may soon come.