China Mobile Internet Investment Conference

"Economic reference newspaper" September 4 from the Beijing China Mobile Internet Investment Conference to understand that this year, the various types of investment into the mobile internet has tended to cautious, investment events, the number of the decline is obvious. The traditional internet giants quickly erode the mobile Internet with the help of technology and scale, so the mobile Internet investment needs to be besieged.

According to the data released by the research Center, China Mobile Internet industry has disclosed 78 investment cases only in 2011, of which the amount of investment cases disclosed is 59, the total amount of investment is 665 million yuan, and the average investment amount is $11.27 million, which is far more than the same level over the past years.

Although the Heat continued in the first half of the year, weakness has been apparent. Relevant data show that the first half of this year, China Mobile internet industry disclosed investment events of 30, including the disclosure of investment in the number of investment cases of 17, the total disclosure of investment amount of about 378 million U.S. dollars. Gavin, founder and chairman of the Qing Ke group, pointed out that although the average single investment amount is higher than the 2011 average, it is actually affected by the investment credit of the deep Venture investment network and the Guangdong Cultural Industry Investment Management company.

Many mobile internet investors "complained" at the meeting, the VC/PE institutions in the investment mobile Internet process faced with multiple resistance. First of all, most of the domestic mobile client products business model is not clear, the profit prospects are unknown, coupled with serious product homogeneity and user stickiness is not high, investment returns are not optimistic. "The easiest time to make money has passed, and now it has come to a stage of volume and scale." Ning, the founding partner of Le Bo Capital, said that in such a market environment, mobile internet start-ups are in hot pursuit.

Second, the large Internet enterprises to use funds, technology, user-scale advantages of the small and medium-sized innovation mobile Internet, small and medium-sized enterprises have limited living space. Tencent, Baidu, Qihoo 360 and other traditional Internet enterprises not only through independent research and development or investment, mergers and acquisitions, such as the layout of mobile Internet application services, and further use of platform advantages to quickly enter a number of vertical subdivision, but also through software, hardware all-round layout mobile internet to form a "cloud-tube-end" Chen, Chairman and CEO of Renren, said: "The mobile internet is a game for it giants, and there are few opportunities for small and medium-sized startups." ”

In addition, in the world's overall economic situation is not optimistic, the continuous decline in foreign capital markets, domestic capital market is depressed, Chinese enterprises to market the pace of slowdown, the domestic market listed companies, the overall decline in the average price/earnings ratio of VC/PE income test, the market liquidity is still less than last year

Gavin said that many factors have seriously affected investor confidence, making the LP investment prudent, and the VC/PE fund investment tends to be conservative. and large mobile internet companies are mostly in the early middle, investment risk is relatively large. In addition to last year's investment boom, good projects have been invested, and valuations are not low, and good projects are hard to find and valuations are relatively high and affect institutional investment.

The reporter learned that the mobile Internet development prospects have become a consensus, however, the future of mobile internet investment is still facing such as the existing business model and profit model difficult to realize, micro-innovation and innovation than the application of the market game, payment channels, such as a single and imperfect risk, which investors misgivings.

Some investors predict that within two or three years China Mobile internet will enter a new round of self recuperation period, in the rapid development of the squeeze out of excess foam, to form a benign development of the industrial environment. In the process, although the IT giant sniper small and medium-sized innovation mobile Internet team, but still exist in the Blue sea area can be concerned.

Ning said that the users of billion of the universal application has not been a foregone conclusion, platform-type investment companies should focus on "people mobile phones on the use of conventional applications will not be more than five, at present only micro-BO, micro-letter, plus mailbox, large application market still exist opportunities." ”

IDG Capital Partner Zhang pointed out that large mobile internet companies more suitable for platform, innovative company platform is more difficult to start a business, should focus on the application, or around large data for technical breakthroughs, only more targeted.