Qihoo 360 investment in a number of prospective IPO companies

Tencent Lei Jianping technology reported July 9

360 once again attract the attention of the outside world, this time not because of opening up a new "battlefield", and the Internet giant war, not because 360 ​​chairman Zhou Hongyi lashed out opponents, but because 360 ​​in recent years frequently become prospective IPO "bodyguard."

On July 8, Di Xin Tong was listed on the Hong Kong Stock Exchange and offered 167 million shares to the world. Di ICT's introduction of a number of institutions as cornerstone investors, respectively, Lenovo, 360 and TCL Communications, 360 subscription amount of 20 million US dollars.

This was the cornerstone investor in 360 for the quasi-IPO business once again in the most recent year, after 360 subscribed to the long-term digital 15 million US dollars listed in November 2013 to subscribe to the $ 5 million worth of Tudou listed in May 2014.

Di ICT, 9158 is also listed in Hong Kong immediately, 360 also subscribe for shares worth 500 million. In just a short time, 360 became at least 5 companies "bodyguards" escort for its IPO, which also gradually became its 360 new business outside of its main business.

360 for the new move, its vehemently, Jinshan network CEO Fu Sheng in the WeChat circle of friends said 360 friends too little, had to use "Jin Yuan diplomacy" to show the sense of presence.

360 co-CFO Xu Jian Li Tencent Technology, said 360 is mainly to do their own thing. 360 to do the cornerstone of investment is often purely financial investment, and sometimes is a collaborative work, the current external 360 investment behavior may exist over interpretation.

However, compared to the field of investment everywhere, since the beginning of this year, 360 in the main business is relatively lackluster, compared to the frequent high-profile attack of the past few years, now 360 core security, search and other business are quiet.

"Bodyguard" logic: into a strategic partner

The so-called cornerstone investors, refers to first-class institutional investors, large enterprise groups and well-known Regal or their affiliated enterprises. The introduction of cornerstone investors is actually affirmed the company's fundamentals and development prospects, its important role is to escort the new IPO business.

Cornerstone investors need to commit to buying stocks and lock in for three to six months after listing. In general, as a cornerstone investor can get a good financial return, such as the way cattle twice since the listing, its share price has doubled, 360 naturally profitable.

However, there are indications that 360 frequent prospective IPO business "bodyguards", not just for financial investment purposes. To Di ICT, 360 and Di ICT for a long time did not overlap, but the concept of virtual operators to pave the way for cooperation between the two sides.

Just half a month ago, 360 formally signed a strategic cooperation agreement with Di ICT, and the two companies will deepen cooperation in wireless application promotion, application store and customized mobile phone after-sales service. Agreement, 360 for Dixon customized store assistant, mobile application store and other products for Di ICT store clerks for the purchase of user applications and games download, install and other basic services.

The two sides will also cooperate to launch after-sales service, through the 360 ​​for its customized after-sale assistant, purchase users can self-mobile phone performance testing and software application testing, and after-sales service to help repair personnel to quickly locate software problems and other services.

Di ICT virtual operators will be 360 ​​PC and mobile phone platform access, Di ICT in the country through 2,000 chain stores and network platforms will be sold 360 portable wifi, security routers, children's wristbands and so on. Di ICT undoubtedly help 360 will be extended to offline business.

After Di ICT IPO 9158 and 360 relationship is not normal. August 2013 9158 With 360 cooperation, the establishment of a joint venture company, the one-to-many platform Sina show field inside this joint venture company to promote.

Although Sina show revenue per month accounted for less than 5% of total revenue 9158, and the new company accounted for 51% of 9158 shares, 360 shares of 49%, but the two have great expectations for cooperation prospects, the joint venture 9158 Responsible for the operation, 360 is responsible for promotion, and 9158 for the 360 ​​there are other values, such as the mobile terminal 9158 platform, a large part of 360 to help promote.

The recent listing of corporate color life, is the property company, with 360 main business is not much, 360 also 10 million US dollars cornerstone investment color life. According to the analysis, both parties will cooperate in community safety-related businesses in the future.

Another example is the long-Bang Digital GO desktop products have been Cheetah cheetah masters and battery doctors in the most important overseas distribution channels, but in April this year, long-range digital and 360 reached a strategic cooperation, 360 will use the long-state digital Of the Android mobile distribution platform for overseas markets to promote its mobile security products and system clean-up, battery management tools and other applications.

Information on the relevant channels, 360 and long-range digital cooperation is exclusive, Cheetah was at the critical moment of the IPO, long-range digital and cheetah terminated cooperation, 360 both promote their own business in the short term also hit rival Cheetah .

Tian Hao Capital CEO and principal analyst Hou Xiaotian told Tencent Technology, 360 as the cornerstone of these enterprises investors on the one hand to help companies stabilize the stock price, but also from an investment into a strategic investment, 360 itself as a cornerstone investor also received very Good financial return, 360 After becoming a $ 10 billion market capitalization company, in all vertical areas also need "allied forces."

Investor Zhang Dafeng said BAT is now spending money to buy the company, 360 is also a billion-dollar market company, although not so much money like the merger of BAT, but many technical teams are talking to the 360, but a lot did not reveal . "Basically, BAT is a website with a lot of traffic. 360 is also 360, with traffic-oriented, and can be bought at a lower price."

Zhou Hongyi retreat after the new thinking: the core business silence

Relatively high growth over the past few years, 2014 is an unusually low-key 360 year, the relative lack of business highlights, which also led to many questions, such as the 360 ​​behind in the mobile Internet, because 360 ​​did not like BAT into O2O, into the Internet finance , Nor did they make the same big-budget acquisition as they did, and some even wrote an article saying that Zhou Hongyi was old.

People familiar with Zhou Hongyi pointed out that Zhou Hongyi said that he was the most taboo to the outside world. However, Zhou Hongyi put a low attitude toward the internal letter issued in May this year, which is a new consideration after it has undergone "retreat" for a long time. Zhou Hongyi said that 360 can not attack on all sides, and need to have their own knowledge in order to work out a suitable competitive strategy for their survival and development.

Zhou Hongyi said in an internal letter that 360 does not chase the hottest thing because the Internet in China is never short of hot spots. Every year, there is a tide of wavers on the waves. For example, some time ago, Internet finance noise for a while, we are selling funds. However, 360 did not follow up, because that is nothing more than making use of traffic to earn some money, but can not bring 360 core competitiveness benefits.

This does not mean that 360 does not do too much. A person familiar with 360 pointed out that there are three main tasks for 360 this year: 1) promoting the commercialization of 360 search businesses; 2) expanding the enterprise security market; and 3) increasing the scale of hand travel businesses.

The end of May this year, the former State Administration of Quality Supervision spokesman Chen Xitong has joined 360 as the vice president in charge of the market. According to close to the quality inspection revealed that Zhou Hongyi personally to the General Administration of Quality Supervision to meet Chen Xi Tong. Nearly 100 AQSIQ bureau and departmental cadres, colleagues for their deeds. Subsequently, the General Administration of Quality Supervision, Inspection and Quarantine General Office personally sent to 360 to take office, and visit 360.

An investment industry keenly noted that Chen Xitong in the field of quality control and drug monitoring have deep resources and contacts, and 360 search despite the PC side has about 20% market share, but the degree of commercialization is far less than Baidu, 360 search to strengthen Realization, food, medical and other fields is the need to expand the resources to Chen Xi, vice president of marketing will provide 360 ​​great help.

In addition, Snowden prism door eruption and the confrontation between China and the United States in the field of network security, so that the enterprise security market quietly rise in China, which is becoming an important force 360 ​​direction. Qu Xiaodong, vice president of the 360 ​​market has been transferred to responsible for corporate security public relations work.

From personal security, web site navigation to search, the old story will 360 market value pushed to 10 billion US dollars, now 360 needs a new story will push the market value higher, smart hardware, enterprise security are the 360 ​​background. Tan Xiaosheng, vice president of 360, said that 360 to become a corporate security market, the mandarin fish, as it once did in the personal security market, the same thing.

360 in the enterprise security market to talk about the story of FireEye. FireEye went public in 2013 with a market capitalization of over $ 10 billion at present, with a current market capitalization of $ 5.6 billion. As long as 360 is made in the enterprise security market, the market value of FireEye can be significantly increased.

360 co-CFO Xu Yongli said in a roadshow in June this year that the status of information security has risen and 1 to 2 products are being tested. Of course, Xu Yingli also stressed that 360 will not make any profit contribution in the enterprise security market this year and may only make profit contribution in the second half of 2015.

In November 2013, 360 had a structural adjustment, the previously more confusing wireless products and security product line integration into the wireless security business line and PC security business line of the two business lines, mobile games business to enhance the proportion has been set up a separate division . According to insiders, 360 has acquired a few low-key acquisition of several domestic travel companies in the first quarter of this year to strengthen the layout in the field of mobile games.

In contrast, the 360 ​​in 2014 only deep in the original field, but for accustomed to "high profile naughty" 360 media, it is also a great fit. In this regard, some industry insiders also pointed out that the 360 ​​has long been changed from "Reeling" to "high rich handsome". In the past, the "wild life" of shouting and killing was over. Now it is not necessarily a bad thing to be quiet and do practical work.