Comment: Handle, a long doomed acquisition

Why is the acquirer a triplet?

Handle of the acquisition of the three cells, many people may not be unfamiliar, the financial investment, business circulation, information services, health care and real estate development of the five pillars of the industry group, total assets exceeded 70 billion yuan, the annual total sales reached 80 billion yuan, ranked 27th in China's private enterprises, 500 strong, Owns the Grand High division (600122. SH), Nanjing New Hundred (600682. SH), Macaulay (Nasdaq:mcox), Jinpeng Source Kang (new Sanbanxi 430606) and other listed companies, in particular, the electrical business of the logistics sector, covering the Mai Lin, Business Circle Network, Hui buy network, million commercial seal card, everything business, involving physical electricity, O2O, logistics, payment and other fields.

There is no further explanation for why the rival was acquired. First of all, can make up the three-cell electrical business Logistics plate in the field of life services, the acquisition of a mature group purchase site, far more cost-effective than the establishment, the future can continue to promote the independent listing, which is similar to the acquisition of Suningyun and the company, on the other hand, the electric business to form At present, the Tri-cell has covered female fashion supplies, 3C and other electrical commodities, and has logistics support, but also formed a solid business circle based on the O2O, can be integrated handle operations, million business seal for the integration of electrical business as a payment support. If all through, the three cell electric business direct chasing Jingdong, Challenge Ali, the future is not impossible.

The fate of the takeover is a lament, but at the same time expected. In the handle listed after the break, it until now also not fully recovered, the reason or is before running too fast has bones, or is the investor has inadvertently fighting, not only by the United States Regiment far beyond, the public comments, litters Group, Baidu glutinous rice, etc. successively than this once was also the first big guy.

The handle was acquired two years ago.

From the beginning of the thousand-group war, to the regiment treasure nets, 24 coupons and other closures, as well as glutinous rice, full of the acquisition of the industry's remaining less than hundreds of, handle although in the forefront but left it time is not much. More importantly, when the other families have found the Godfather or find a new model, the handle is still in place to move slowly, which is the root cause of its failure.

The United States Group group buying mode, the public comment on the advertising model, Baidu Sticky rice map lbs mode, as well as litters group "online" mobile direct marketing model, is growing into the original group buying industry new forces. At the same time, BAT, 360, Suningyun business and other giants enter, let the life service industry is full of fiery but also dangerous.

From late August this year, the outgoing handle received a new round of financing, but thereafter there is no specific information on the next step. The fate of the handle, perhaps in the run-up to the IPO two years ago, and then Wu's departure to the takeover by the investor, was already destined to be acquired.

Back to the beginning of 2011, as the largest group purchase site, handle hired GE endorsement, covering large and small outdoor subway, bus billboards, thousands of war to see who runs the fastest, who can first ring the clock on the Nasdaq. But soon, after a frantic advance and the burning of money, the group buying industry in the second half of 2011 quickly into the winter. But that is when, October 29, 2011 handle successfully submitted the listing application, the SEC disclosed the relevant documents, the past 12 months to handle net revenue of 10 million U.S. dollars.

But in June 2012, the handle network decided to cancel the listing and has decided not to continue the IPO plan and sell the company's shares at the moment. Financial problems, a single model, management control, in the stock of the attack and so on are considered to be the reason for the failure of the handle, and this has become the handle network Sheng extremely and decline the watershed. After that, Wu ran away, the fate of the handle by the Jinsha River is dominated by investors, but then did not pick up, the period poured out a lot of the acquisition of the news, acquisitions or mergers and acquisitions of the list, both Ali, 360 such giants, there are glutinous rice, litters group Such a peer, handle are denied. But waiting for the takeover, but has become the fate of the hands of the future, but who is willing to take over the issue.

Handle the end of the fate of the net, announced the original group buy the official end of the era, the next step is to see the Life Service Electric quotient competition.

"Buy death"?

The key lies in the pattern. Having said the meaning of the acquisition, we returned to the group buying industry. Regiment 800 latest data show that as of August, the first 8 months of this year has achieved turnover of 44.08 billion yuan, to 1-8 months of monthly growth (7.69%) to calculate, the remaining 4 months to achieve turnover of 37.19 billion yuan, then the annual market size is expected to reach "80 billion yuan", And the size of the monthly turnover will stand on the December "tens of billions of yuan" steps. It can be said that because of the user's sensitivity to the price and the convenience of mobile group buying, group buying future growth of space is still huge, but the difference is the play of each family.

The root cause of the failure of the handle network is that, compared with other peers, the group purchase has proved to be a marketing approach rather than a business model of the background, still can not find a clear development model.

For example, for the United States Regiment, by virtue of the industry's volume advantage, has begun to form a cat's eye film, take-away and tourist hotels and other vertical categories of expansion, and into the offline and put tens bus, elevator ads, large dozen product lines and Word-of-mouth cards. But the weakness of the United States Regiment is, or continuation of the previous pure discount group buying mode, just more extensive, but when other group buying site also began to expand, it will inevitably have vicious competition, the United States and comments, hungry no frequent Wukong scramble for business, can explain this, from the development of space and profitability, this is not a good thing.

Public comments this year because of Tencent's shares, not only to obtain micro-letter, QQ entrance, but also successively through investment or a stake in the hungry Mody, Big Mouth, Shanghai Chi Long, Ishikawa Technology, days Shanglong, such as 5 companies, involved in the front-end catering and back-end ERP system management. Public comments with business comments started, this year's pace accelerated but fate is in the hands of others, do not say that the micro-letter diversion effect is limited, the three catering software management enterprises in the country's share is not large, did not form an absolute advantage, and the form of a stake, and can not let the comments get enough control to disperse the future risk.

After the handle net was acquired, litters group become not The godfather of "only", also recently launched a mobile end of the shop through the product, that is, by providing businesses with their own online shops, including independent merchants Mobile store clients and brand stores, and one-stop through the Third-party platform to help businesses directly connect users, For businesses to achieve online direct sales, member operations, dynamic promotions, brand display. It can be said that in the exploration of the Mode of life Service Electric quotient, the development of the litters group is more clear and active control of strong, in the formation of a profitable group purchase CPS divided into, mall platform use fees and mobile business app development, maintenance and other diversified income, but to litters the current status, although caught but can grasp the big is also unknown.

Baidu Sticky Rice can be said to be the most tyrants, the advantage is the largest, for the United States Regiment dual-line combat (online advertising, online spell discount), to seize the first place, the future needs to further strengthen LBS this use of the scene.

Of course, in the field of life services, in addition to these four, Baidu Direct number, micro Shop and Alipay service window, or even 360 of the call pass also want to mix the foot. In all, with the development of different families, the attitude is also mixed, "group buy Death theory" cause hot discussion, but no matter how, to find a clear development model to tell more stories, this is the priority of each family, or the next "handle net" will soon come.