VCs comment on TMT investment opportunities: Mobile Internet is the hottest

2010 the end of the listing tide, so many people once again lamented TMT (technology, media, communications, that is, technology,media,telecom) in the capital market stamina and potential. In the field of E-commerce, Dangdang, as a representative of China's established E-commerce Web site, after 11 years of market success, at the same time, emerging as a black horse like Macaulay, people surprised; in the vertical portal, SouFun and easy Car network, in the deep Chinese real estate and automobile market after years, boarded the NYSE, while, In cool 6 by the Grand acquisition curve after the listing, Youku and independent listing in the end of the year-end, making the video site in the capital market in the pursuit of another pull up; in addition, in 2010, the Hisoft software and the soft power of the listing, also proved that the capital market for China's IT Solutions and software outsourcing　　In the video site and E-commerce mode, thunder, Oak, Tianya also have disclosed the intention of the 2011 listing. It corresponds to the 2010 strong investment in the TMT sector.　　From the public data statistics, in the TMT field, only one branch of the Internet, in 2010, there are 125 investment and financing cases, that is, on average, less than 3 days, 1 companies to get VCs. However, financing and listing are far from proving that the model is mature and the enterprise has been successful. Ecapital Capital CEO ran to "talent" reporters bluntly, does not rule out the last two months to go overseas listed companies have digital fraud. Analysys, the Chinese company to the U.S. listing is ushered in a good time, because of the proliferation of liquidity, the renminbi internal devaluation, foreign appreciation, so that the dollar-denominated renminbi assets are very popular.　　Therefore, as long as the enterprise has a little certainty, it will "at any cost" of the listing, in order to obtain a premium RMB assets. In view of this, it is necessary to think calmly and judge which TMT mode is the real investment value and growth space. "Talent" reporter interviewed several vc, PE, investment bank and angel investors, found that the cloud computing, the Internet and other popular words, only as a way to achieve the backing of the business model and there is no direct investment value; for the triple-Net integration and other trends, most investors also hold a wait-and-see attitude, After all, it's up to the policy.　　What investors really love is the international fashion, the domestic monopoly of no big model, but not all can bet. Mobile Internet Investment: ★★★★★ Investment Opportunities: LBS, semiconductor chip, mobile phone security chip, mobile App store, various applications based on open platform and Tablet PC since the 2000 mobile Dream Network originated, mobile Internet has been brewing in China for 10 years.　　With the gradual popularization of smart phones and the decline in tariffs, the user's familiarity with the mobile internet has increased rapidly, operators, internet manufacturers and hardware manufacturers have been using the App Store model to layout their respective industrial chains.　　According to the judgment, the number of mobile internet users at the end of 2010 will exceed 300 million, the market revenue reaches about 63.3 billion. In fact, few investors see the decline of mobile internet, but at the same time, no one denies that the profit model is still groping in the early stages. Location-based Services (locationbased service,lbs) are a popular model for the 2010.　　Angel investor Zhou to this cautious optimism, said "lbs is also a swarm, the United States out of a thing, copy certainly can not succeed, at present only high-end people in use, but also need to look at."　　Like Zhou, more investors are looking at a wide range of mobile apps.　　Today, Apple iOS and Google's Android mobile operating system are attracting a growing number of developers, thanks to its rich application, good user experience and open platform.　　More crucially, the mobile App Store model broke the shackles of the carrier on the operators, and could blossom and yield.　　December 10, 2010 local time, Skye Network landed on Nasdaq, became China Mobile internet first share, it is because it created the Chinese "app Store" model, building the most mainstream mobile phone software platform.　　In addition, the advent of Apple's ipad makes the mobile Internet's terminal market more imaginative. Investor comments Deng, managing director of Aurora Borealis, said: "The long tail of mobile internet will hatch a lot of profitable teams and models, but can there be a large market value of listed companies?" I am concerned. Because, in China's mobile internet market, whether music, games, shopping, community or lbs, have not found a key application is unique in mobile phone applications, and can support a large number of users.　　"E-commerce investment heat: ★★★★★ Investment Opportunities: Group buying, it logistics E-commerce, known as the last two years the biggest investment hotspot."　　According to Shen, founder partner of Sequoia Capital, the Sequoia has invested more than six e-commerce companies in the past 2.5 years, and is very optimistic about this field. As Groupon became popular in the US, China erupted into a "battle of the thousands", making group buying one of the most heated internet models of the 2010.　　[Page] "A lot of home group deals have been financed, in fact it is a kind of business, the biggest advantage is that the services can be packaged," said Chen, chairman of the Chinese Investment Board.　　Zhou also believes that group buying is a traditional e-commerce deformation, just "Avenue to Jane", a day to recommend a low price discount goods or services, it is easy to form impulsive consumption. For the 2011 development of E-commerce and investment prospects, almost all investors are optimistic attitude. At the end of 2010, with Dangdang and Macaulay on the market, investors on e-commerce more than a layer.　　Moreover, according to ran, there are some e-commerce companies with a listed size but are not in a hurry to go on the market, such as the customer prudential products, but also in the closed door big profits, the return of these sites will gradually appear in the next few years. Investor comments Chen pointed out that E-commerce as aThe business model, which can reduce cost and improve efficiency, has already shown obvious investment value, which will certainly lead to the "explosion" of the logistics industry in the future.　　Now the logistics industry is too not it, for the goods can not be traced, can not guarantee security, those who really have it and information capabilities of the logistics companies will be a new direction of investment.　　Micro-Blog Investment: ★★★★ Investment Opportunities: Open platform derivative of the various applications of 140 words of micro-blog, because the truth has become the origin of some public discourse, because the virtual, micro-Bo become the accumulation of complaints, because the short, Micro Bo become a real grassroots application.　　Research shows that the number of registered users in China's microblog market in 2010 reached 75 million, the fastest growth in China's Internet application development. Shen to the "talent" reporter, in 2009 when the investment in Sina, Sina's share price of more than 30 U.S. dollars, the end of 2010 has broken 70 U.S. dollars.　　Obviously, this is thanks to the success of Weibo. Today, Weibo has become the center of celebrity quotes, stories and even gossip. However, it is also based on the higher policy risk.　　In Chen and Zhou's view, Weibo is just a handful of big players in China, and startups are hard to develop like foreign Twitter.　　Since 2010, after Sina Weibo, Zhang Chaoyang announced that the above will not cap the investment into the micro-broad war, NetEase and Tencent also specializes in deploy, exerting micro Bo, it seems that the controversy of micro Bo is equal to the door of the dispute.　　For Sina, the vigorous development of micro-blogging means the pursuit of transformation, Chao called it two startups, that is, from a pure portal to the direction of the Internet platform, for the investors behind, the various applications based on the microblogging platform is the potential direction of investment. Investor comments Hua Xing Capital CEO Baofan pointed out that for Sina, to create a micro-BO platform for the ecological environment than to make money more important, is to learn from the Apple App Store model to pricing and operation. Weibo is relatively high-end and can give the brand a direct dialogue with the user window. If you want to know how to differentiate, can also cut into E-commerce.　　The future will serve as a tool to become the standard of many websites, recently happy Net has also launched micro-blog.　　Network Video Investment Hot spot: ★★★ Investment Opportunities: On the existing faucet investment at the end of 2009, Yan that the video site because the copyright pressure has been wiped out, and to the "talent" reporters blunt "video in China", the end of 2010, Youku was listed. In fact, investors ' worries are justified.　　Potatoes and Youku listed prospectuses show huge losses, potatoes in the first three quarter net loss of 83.73 million yuan, Youku net loss of 167 million yuan, cool 6 of the third quarter results also showed that the loss amounted to 12.8 million U.S. dollars (about 85 million yuan), the whole industry losses have become a common phenomenon in China's video industry.　　Chen found that today's young people have not too much television, Zhou also pointed out that video, representing the future direction of development is no doubt. After several yearsImitation and exploration, China's video site has gone through the YouTube model, but also emulated the Hulu model, now, has converged UGC (user share original content), genuine film and television long video, homemade drama, network TV Live content, etc., appears to be a flourishing. Who can dominate the future, it is probably just a game of capital.　　"From the original more than 300 to this year, shuffle has begun, resources have been to Youku, Tudou and thunder and other gathered together," Chen said. Investor comments Zhou Bluntly, video site is in fact still in the initial stage, the revenue and cost has not been profitable, the listing means in the market competition can lead the opponent, but, the portal is also joined the game, in addition, such as the Thunder and other clients and peer-to-peer video sites, but also actively participate in competition.　　Who is the winner of the last market, now is not easy to say. Investment in online games: ★★★ Investment Opportunities: Web games, Social games 2010, from the earnings of the listed companies of the online gaming companies, it can be found that online game market revenue growth slowed down, and even several downward trend. At the end of the year, Jinshan, perfect time and space, long tour and swimming and other online games companies have exposed layoffs.　　All this, although not directly to show that China's online games have encountered bottlenecks, but also foreshadowed the arrival of the adjustment period. According to the new good data statistics show that as of December 14, 2010, the 2010 network game out of new 247, and the web game out of new 285, both operating more successful games have 6. However, the monthly profit of web games is 1.5 times times that of online games.　　It is obvious that the revenue momentum of the web game is far better than the large-scale network games, even has overtaken the network game long income leading the throne.　　"I always feel that the market is very saturated, MMORPG (large role class play game) is certainly no investment opportunities, are large listed companies doing, and mobile internet-related games may have investment opportunities," Chen said.　　"The overall market growth in online gaming is slowing, but the plates are still big, and there are opportunities for web games and social games," Zhou said. Investor comments Harper that in 2010, the transition from MMORPG to social gaming was more pronounced. For users, the time to play MMORPG is dropping and playing games is growing. In particular, Apple iOS and Google Android platform is maturing, the web game, mobile gaming is a big pull.