China Internet acquisition Consolidation failure Case Top 7

Over the past two years, internet companies have surged in acquisitions, with big buyers mainly bat. Specific to the subdivision of the field, they are in the electric business, O2O (group purchase class for the representative), video integration failure cases more. At what point did the acquirer go wrong? Why is the acquirer not adapting to the subsequent development? Below, we cite a few typical cases to see:

Top 1

Buyer: Tencent

Buyer: Xun

Failure Index: ★★★★★

Event Playback: Tencent's own electric dealer has always been like a helping hand. So in 2010, Tencent and a new generation of professional E-commerce consumer services website "Xun Network" to achieve strategic cooperation. 2012 Tencent bought 200 million Xun net 100% equity. After the Xun Tencent want to do big QQ net shopping for Taobao, Beijing east, but has not been successful breakthrough. Today, the electrical business structure has been difficult to shake, only reluctantly abandoned Xun, and finally to 214 million U.S. dollars +QQ NET buy + Pat Net + a small amount of Xun equity (estimated about 10%) to accompany the Beijing-east, won the Beijing-East IPO before the 15% stake.

Reason for failure: Since 2006, Tencent has done more than 7 years of electrical business. This is one of the most long-standing projects in Tencent's business, which has not been profitable. The innate lack of "electric quotient gene" Tencent has not wanted to understand a problem, that is Tencent to do the value of the electricity business.

Top 2

Buyer: Grand

Buyer: Cool 6

Failure Index: ★★★★☆

Event Playback: 2006, 酷6网 was formally established. As a result of the reorganization of resources, 2009 was a grand acquisition, and become the world's first Nasdaq-listed video site. After the grand acquisition of the 5-year period, cool 6 has undergone many transformations, 2012 founder Shanyou left. UGC after the transformation of cool 6 Although the loss of a sharp reduction, but can not escape the fate of the first camp fell out of the video. Since then, the frequent adjustment of Shanda executives has failed to reverse the trend.

The reason for failure: In the Internet video field, even if backed by grand, cool 6 has become increasingly marginalized. After the cool 6 was Shanda, the past few years have replaced 3 CEOs, and the share price has fallen from the top 8 to the current 2~3 dollar. Toss it! April 1 This year, the news of the grand sale of 酷6网 stake breaking the industry, allegedly, the sale of cool 6 is only a grand net loss of the beginning of a big sale, the future will gradually sell a lot of video, games, literature, and many other businesses, and Chen I have decided to fade out of industry, and will be more energy to

Top 3

Buyer: Gome

Buyer: Bowser

Failure Index: ★★★★

Event Playback: At the end of 2010, Gome bought 48 million Yuan Bowser 80% of the equity. May 2012, another 12 million yuan to buy Bowser net remaining 20% of the equity. Home Appliance Network purchase Platform Bowser Network was married into the Giants Gome, in fact, is trying to get rid of the electricity dealers generally face the supply chain dilemma, alongside the last to provide a stable source of industry giants. December 2013, Gome online and Bowser network two of its electric company integration, the new company named "Gome online." But the United States to achieve profitability, only from the cost savings started. Bowser employees became Gome's knife ghost.

Failure: The value of an enterprise is acquired by experienced employees, supply chains and information systems, and Gome's online acquisition of Bowser, from the founder, to more than 90% of the original Bowser staff was cut, stating that Gome did not use the bowser most valuable assets, the acquisition is a failure. Today's Bowser for Gome is like a chicken, tasteless, but tasteless.

Top 4

Buyer: Yahoo

Buyer: 3721

Failure Index: ★★★☆

Event Playback: In 2003, when China's internet was at a low ebb, Zhou sold Yahoo 3721 at $120 million trillion, which it renamed "Yahoo Assistant", then became president of Yahoo China and left in 2005 to create Qihoo 360. After marrying out renamed "Yahoo Assistant" still cannot save 3721 of fate.

Reason for failure: China Yahoo This family is completely unsuitable for 3721 growth. 3721 as an automatic installation of a very wide range of network programs into rogue software has caused much controversy. Perhaps 37,211 was born to determine the final result.

Top 5

Buyer: Grand

Acquired party: The beginning of Chinese network

Failure Index: ★★★

Event Playback: Yes, it's grand again. 2004, a grand wholly-owned acquisition starting point, lay the first piece of the grand literature, but also to date the most important cornerstone. In the twinkling of an eye, nearly 10 years of marriage contradictions accumulated over the last half of 2013 broke out: The beginning of the founding team collective from the grand literature left.

Failure reason: After the merger of the infighting is the business development of the biggest impact, the most taboo. The earliest starting point sold to grand, only left shares, the original management of the beginning of the loss of control over the company. For the starting point of the management, the beginning of the old man and the grand management of the struggle for nearly a decade. After the "civil war" continued, the beginning of the initial group of collective resignation is said to be due to the beginning of MBO (manager acquisition) plan was Grand CEO Chen Tianqiao No, the founding team forced the palace was Chen to cut off the posterior.

Top 6

Buyer: Tencent

The acquired party: high-Peer net

Failure Index: ★★☆

Event Playback: 2012, is the "Year of life and death" of group buying website. High-Net bought peer Group F first, and then Tencent and Groupon continued to invest heavily to the merged new highs. Gaobong Side burn money, while laying off, while continuing to suck the blood of large shareholder Tencent, do buy short board many and long-term losses, in the industry also failed to achieve the leading edge. Now, the new high friend is difficult, Tencent can only vomit bitter fruit, continue to take care of this mess.

Failure reason: Tencent in the layout of a series of electronic business acquisition, basically in the state of burning money.

Top 7

Buyer: Baidu

Buyer: 91 Wireless

Failure Risk Index: ☆

The first day of 2013 's National Day, Baidu announced the completion of the 91 wireless acquisition, which became China's internet history, the largest amount of mergers and acquisitions. In the few months after the acquisition, 91 Wireless in the application distribution channels in the past has not been too much improvement, and even outgoing Baidu vice president Mingyuan due to the failure to maintain the status of the Lake 91 and leave the rumors, it feels like spending so much money in the end worth it. 91 Wireless future can for Baidu Mobile internet layout building blocks, still to be tested.