Several key points and key data in the marriage of Tengzhong

Tencent strategic Investment in the public comments (February 19) 20 days later, March 10, a large area of the country without haze, is a good day.

Another big harvest in the field of electrical business began: Tencent to 214 million U.S. dollars plus QQ NET to buy and Pat net 100% rights, logistics personnel and assets, as well as the Xun network minority equity and the right to purchase the remaining shares of the Yi-dong net 15% equity, to the Beijing East when the listing Tencent can subscribe to 5%.

How good business cooperation, how perfect "harvest", the protagonist is still Tencent, still seems to be "broken wrist" play. In a less popular language for this, Adriano commented: "Immediately 13 years old, single, physically and mentally exhausted, feel that they will not hate again!"

This year, the electric business field of various movements surprised many colleagues in the industry. However, if Tencent does not combine the rise of micro-letter, not to consider why Tencent at this time to launch a series of capital movements, not to consider why each company will occupy about 20% of the shares, not to integrate Ali in the mobile operators, perhaps, you can hardly really understand the marriage behind this, what is the interests and capital truth.

That Jongade elder brother divides into old three, one pile comes to interpret for you.

March 10

March 10, BOE chairman Daiju East, but the face can not see 倦态, but is ruddy.

In order to release the scheduled time Tencent shares in the Beijing-East News at the same time; Liu immediately to the Shenzhen Tencent headquarters, to all Jingdong, QQ online shopping, Pat Net, Xun all my colleagues made a television address.

The afternoon immediately non-stop to Shanghai, rushed to Xun headquarters, here, once again declared the establishment of the new dynasty, of course, accompanied by Tencent President Martin (Lau) and Tencent, Wu Guangguang, the owner of the electricity business.

Two speeches are very similar, in Shenzhen, there is no outside of the Beijing East volume is still small, even if the Tencent Electric quotient is only 100 billion level, but the east has a good future, and has been profitable QQ network shopping and Pat Network complex, plus over the years constantly harassing their little brother Xun.

In Shanghai, the speech is to appease the first: Xun Tongren will be the same rank, pay unchanged, and will not lay off, middle and important positions or will have options incentive.

The end of the meeting, a day's work is also basically announced the end, but the Xun network of colleagues are mostly dejected.

So far, three of Xun's old friends commissioned him to pay attention to "good places", for many years of fighting with the old opponents, and the strength to prepare to do another one of the Xun, this kind of surrender of the taste is bad, most of them have been informed of the sweet and cool annexation Tudou's mentality.

11 o'clock in the evening, Ed called Xun, a friend close to the executive, without answering. But soon the phone came, and he saw the phone and came back.

"Have you come to the brothers?" Poor and solid, hard times test feelings.

"You have been two times today, and it seems indefensible for him not to sympathize with his brother." ”

People in rivers and lakes, a smile and hatred.

He on the online physical electrical business has also been disheartened, "ready to do some virtual economy, now many are talking about, have not decided which one", in communication, he has with a number of service providers have been approached, leaving is the inevitable state.

"Three roads, leave, in Shanghai Xun, oh no, Jing Dong Shanghai Stay, or go to Jingdong," but obviously, do not feel good concubine, another Xun friend told him so.

In fact, as early as half a month ago, the chaos of the river, the electric circle can be found in Beijing-east Tencent marriage story.

Xun many Members have not been able to obtain information from the inside, can only wind the sound of rain reading, sound in the ear, "the basic work at hand has stagnated, the hearts of five writhed." ”

In the last Friday (March 7), Xun Network Human resources department issued an internal mail, this email, the surprise promotion of a group of cadres, which coincides with the Liu declared "after the merger ranks unchanged, pay unchanged." ”

February 5 and years ago

The "Marriage of the Children" was really scheduled for the last Wednesday, that is, February 25.

On this day, the contract was officially signed, and on the eve of the day, it was the image of a crazy biography on the Internet: Ma and Liu A group of senior executives.

But deal really completed, many people can not understand the current such a setting, Jingdong valuation geometry? Some of the value of Tencent's assets?

To settled this account, it is trade secrets, and he is not afraid to think, even if it is not clear to think.

The simplest way is to tell me the source of the letter, the basic is such a look: QQ net BUY and Pat net profit is 600 million yuan last year, Xun valuation is 800 million yuan, and micro-letter and hand Q and other cooperation is not good to evaluate.

If boldly to do a valuation, QQ online shopping and Pat 5 times times the valuation, then 3 billion yuan, plus Xun for 3.8 billion yuan, plus 214 million U.S. dollars (at today's 6.14 exchange rate of 1.3 billion yuan) is 5.1 billion yuan, access to the East 15% equity.

What is the value of Jing Dong? 34 billion yuan, 5.5 billion dollars.

Oh, this layman! Spectators please do not jump to conclusions: This valuation is the price of Tencent's stake in the capital East, Jingdong only valuation only 5.5 billion dollars!

But according to the Beijing-East New Year period prospectus, the Beijing East proposed the largest financing of 1.5 billion U.S. dollars, and if the listed companies usually 20%-30% of the public share of the shares, Jingdong IPO market value or will reach about 7.5 billion U.S. dollars.

Is this a bargain?

To calculate another account, from the prospectus, the previous round of financing in Beijing east of the amount of 303 million U.S. dollars, investment in Saudi Arabia investment company Kingdom Holding company shares 5%, which concluded that jingdong before the IPO valuation of 6.06 billion U.S. dollars.

So Jingdong seems willing to be so "suckers"?

Liu in many rounds of financing, is already not the year of "tomatoes", today's world, who can not challenge?

The world hero, only Ali and micro-ear!

Because of the micro-letter, Ali shocked. Specific reasons, the next table.

But the existence of micro-letter, the Beijing-east mobile operators are almost only in the "kindergarten stage", despite the layout, but seemingly flower-like, in fact, the Silver sample gun head, can not be fooled old beauty.

The existence of Xun, is a more than one industry rivals, although Xun two years behind the Beijing-east (according to the pace of development), but Xun has a good father, which is the biggest constraint to reduce valuations.

More importantly, QQ online shopping and Pat net profitability performance, 600 million last year, which means that Jingdong has a 600 million profit, rather than a mere three quarters of 60 million poor earnings.

Account, and more than 214 million dollars, this valuation, how to calculate?

To be sure, it has to be revalued, so what is the valuation? He has no ability to predict the market, but it is certain that jingdong valuations will be at least doubled.

Brother Pony before a few years of bitter smashed Xun silver, all can be recycled, and, slightly see skill!

The question comes, Xun why actually has been merged into Jingdong, but in external caliber said Xun net minority stake?

A popular saying is, "the Ministry of Commerce may have problems, there will be some problems in the pass."

According to his brother, it is not.

Xun three years of sustained losses the most important reason for burning money is not to be brought into a negative asset before listing; Another important reason is that the merger of the two is a slow one.

In addition to logistics warehouse coordination, in the supply chain, operation front-end, database docking and other similar departments, the basic will appear merged story, this is a long-term, need slow kung fu.

Again, years ago, in fact, when the Beijing-East submitted an IPO application, the transaction was in progress, and the public comments on the same time, Tencent has been intensively interviewed Jingdong, which is also triggering the Beijing-East IPO an important story.

Both are wonderful, Tencent potential into the Beijing-east, Beijing-East anti-exciting Tencent, a capital of the feast thus kicked off, only for the capital market and a larger pattern of the first war, this war, soul-stirring!

Well, I can only do it in the middle of the night when you have sex, the day is too busy, no way, literati entrepreneurship, most of them do not lift.

In the night sky of Mordor, the elder brother seems to see, relative to Liu's hearty smile, in China's south seaside, small Margo smile more splendid, because, the biggest winner is he, is under his leadership Tencent.