Sina has won the first prize in the deal

Alibaba shares the news that Sina Weibo has implemented, 586 million US dollar holds 18%, the future Alibaba has the right to overweight to 30%. The deal left Sina Weibo with a valuation of $3.26 billion trillion, and the real value of Sina's capital market was only 3.327 billion dollars. Sina's stock rally is certain, Alibaba's IPO chips have added a sum, this is also the key.

Alibaba to Sina, before people think is to engage in c2b, now it seems to be just a good wish, not to say that there is no possibility of reality, but the distance to the landing is too far, hurriedly put Alibaba weak mobile end up, is serious. Sina Weibo is a natural mobile attribute, with Sina Weibo, Ali just good with Tencent and Baidu confrontation. In addition, Sina Weibo traffic 3.7% have gone to Taobao and the day cat, far better than 10 beautiful said and Mushroom street, which is Ali on Sina Weibo has a unique reason.

Cooperation with Alibaba enterprises, so far there are not many good end, Yahoo, Word-of-mouth network, Million network is good, but also lost the opportunity of independent listing, had to tie the fate of Alibaba this warship. Ali with Sogou cooperation can also, equity investment, the right time to quit, no one owes who. However, on the issue of Sina Weibo, there is no need to be so pessimistic, Vudaro player Sparrow, who finally played who is not necessarily, especially the 30% shareholding ceiling, can not underestimate the wisdom of Chao em.

Ali and Sina's respective needs

What is the lack of Alibaba? The first is the strength of the mobile end, the problem seems to be waiting for, micro-letter pressure is increasing, the last one months Tencent window is the most Tenpay and mall ads, Tencent is trying to get through the electrical products and micro-letter links, http://www.aliyun.com/ Zixun/aggregation/12361.html "> Micro-letter commercialization of more and more near, Ma Yun recently said to see the micro-letter pressure is very large. It can be imagined that Ali and Sina talked for a long time has been talking about, the key problem is price, the other is to give Ali the pressure is not big enough, now the money spent, all this does not exist.

Second, Ali has the need to go public, must be in the market before the revenue and profits to do, if Sina Weibo can be all the total electricity flow to Taobao and the day cat, not only can Taobao revenue increase, but also to rival Jingdong Mall implemented a blow, this is a way to kill two birds.

Third, Alibaba has recently been buying some traditional media, including some from the media are under its command, but if the use of capital cooperation to affect Sina Weibo, is always better than the collection of small media, this may be another Alibaba's idea, can not necessarily.

On the other hand, what is missing from Sina? There is no doubt that the first is capital and strategic investment, Sina Weibo has developed over the past few years, the investment is big, the output is very small, because it is a new thing, only Twitter can be compared to the world, investors are scared by strict regulation, so the investment dare not come in. To be sure, Sina Management still holds the holding power of Sina Weibo, just need a investment to pull in the market, or to achieve some still need to continue to invest in the business, but also facilitate the follow-up of the wait-and-see entry.

Second, technology and data. The media attribute of Sina, itself is weak technology gene, too high-end technology to play. And Alibaba in the consumption of Yahoo years, in the technical platform has entered the first-class ranks. Sina Weibo, many of the value of the electricity quotient is more prominent one, they do not want to do the electricity quotient, but the technical and data accumulation is not enough, and Alibaba cooperation can effectively solve this problem.

Third, Sina Weibo commercialization needs to have a road, it is too difficult to walk on their own. Microblogging commercialization has long since begun, the effect is less than expected, basically trial and error. Information flow Advertising and window advertising is good, but has not formed a scale, this takes time. If Weibo can open a path to revenue, so that a large number of people can rely on this life, Weibo will naturally be able to make more, and then make other income is naturally easier.

The problems of this cooperation

I heard that Alibaba initially talked with Sina Weibo, is to control equity, it is not necessarily the full acquisition, but must be a controlling power. Sina side does not agree, and Sina management of the valuation of the expectation of 6 billion U.S. dollars, the two sides talk about, and eventually dragged down. Now, the two sides each let one step, take the luck, but from the practical experience, it is so easy to win.

Alibaba thought may be relatively complex, but also want to improve themselves, and want to hit opponents, but also want to influence the media, but Sina Weibo must be very simple, it is to first part of the flow of the change to say. Alibaba's 120 million dollar income to Sina Weibo in a year is certainly unable to support Weibo's near $3.3 billion trillion in valuations, and Sina Weibo is set to open the way for another. But this 120 million, but in the current is a big head of income, Sina reached out to the logic of the hand. First to say, and then accumulate a point of operation experience and data, learned that I can not get rid of you.

If the cap is 50%, there is no problem, but the ceiling is 30%, which is worth pondering. According to Alibaba's past acquisition experience, wholly-owned by the death of many such as China Yahoo, some of the shares of the instead have a lucky escape, such as Sogou. In the acquisition of Ali always want to be the leader, because the partial holding is not enjoyable, no way to let Ma Yun toss to toss, now Sina Weibo, how know not the next Sogou.

As for the mobile end, Tencent's micro-letter and Baidu's mobile search has been successfully boarded, Alibaba can get on board? I don't think so, even if all of the Sina Weibo is not, let alone only 18%. Do not believe that E-commerce needs to be fully mobile, Taobao Mobile end will have a share of the threshold, if the user does not want to go to the store is understandable, even the PC is lazy, everything to use mobile phones to solve, that the world is lazy to what extent.

Ali want to hit the opponent's intention, may be realized, because although only 18%, after all, still holding Sina Weibo for the next three years of income, as for the idea of the media through Sina control, forget it, Sina where dare to fight with the entire media sector. In good faith, Sina will not stoop to that point, do not give you the portal from the tilt of the micro-Bo look back even if it is enough meaning. Sina Portal will not be a penny worth, although the performance of the market value is indeed so.

The key point is whether the intersection of interests between the two sides of the conflict, Alibaba wants to sell more goods, more diversion volume, to fight opponents and let some people do not speak ill of themselves. What Sina wants to do is to embrace capital, promote technology, precision marketing, and maintain media attributes. Businessmen do not underestimate the noble characteristics of the media, you want to take Alibaba to the People's daily change, it must be no one to exchange with you will scold you neuropathy is it.

Conclusion

Fundamentally speaking, Sina Weibo's electronic business is imperative, the electronic business is the Sina revenue important one pole, but not all, account for 30% of microblog share, is suitable. Sina Weibo is essentially a media social network, and if Alibaba is not aware of it, this cooperation will inevitably fail. Chao said microblogging from the social media platform, into a social business platform, the basic can choose to ignore, do not forget that the sentence also added "can also" five words. The lack of media gene Alibaba, must not be in the acquisition of control before, exposing their accustomed to manipulate the nature of the media, Sina does not necessarily eat that set.

Of course, Ali and Sina's cooperation, there is a certain probability of success, the best result is that Alibaba to help Sina to do business, Sina help Alibaba's business to upgrade a level, Sina Weibo successfully commercialized, Alibaba successful IPO, finally Alibaba set out to leave, such as before the same exit Sogou. Alibaba does not necessarily lose, Sina certainly big profit. In this capital game, Sina occupies the initiative, is far greater than Alibaba.