What kind of cooperation in the end, there are two kinds of thinking

In fact, what kind of cooperation in the form of the current spread of two kinds of ideas, one is Tencent wholly-owned subsidiaries, Tencent focused on the Xun platform into Beijing east. Once this program is launched, it means that Tencent has completely admitted to the failure of its own electric business strategy, and have to rely on investment in Jingdong electric business strategy to achieve the desire to divert the opponent Ali, from Tencent investment Sogou to abandon its own search strategy, Tencent seems to be changing the past all their own ideas, but the search situation and the electricity quotient is not the same , searches in the entire search market share almost negligible, unless there is a subversive situation, in the search area, Tencent almost no chance to get a city. Perhaps it is from what time has begun, in the social sphere of the Invincible pony began to admit the fact that the search for the entire industrial chain of the internet is almost impossible in this era, so the transformation of ideas may be from that time began, is that since you can not do the whole platform business, Using the flow advantage to do open platform may become a new idea.

Of course, there is another rumor about the acquisition of the version, that is, Tencent directly with real money to invest in Beijing east, but the shares are not enough to threaten the status of the Prince of Saudi Arabia, and will not threaten the east in the east of Beijing's control, but only symbolic holding a certain stake. And from the current valuation of Jingdong, in the IPO before the surprise stake, the biggest possibility is certainly not the financial return of investment, more fancy must be strategic cooperation.

At this point, we can re-examine this time cooperation, regardless of final Tencent ultimately what form of investment, are only a strategic level of cooperation, and will not involve similar to the capital level or profitability of the cooperation, in this regard, Jingdong to pull high Tencent stock price is not much significance, Because the amount of investment compared to Tencent this plate is really two-bit, the basic logic of judgment is that after several rounds of financing, the current JINGDONG equity structure: Liu Direct or indirect total shareholding ratio of 23.9%; Tiger Fund holding 22.1%; high jianling Capital shareholding 15.8%;DST shareholding 11.2 % 9.5% of Capital Holdings, 5% for Saudi kingdom holding company and 2% for Sequoia Holdings.

In addition, according to the prospectus, Jingdong via AB stock form, let Liu and its management of the vote from one share of the right into a 20 power, and other shareholders and future investors are a share of the right, so as to ensure that Liu to the east of the absolute control of the capital (assuming that the number of open shares in Beijing-east is 20%, In the public offering, the Liu Control is 84.8%. So Tencent 5% can not only guarantee the alliance between the two sides, but also not to the Beijing-East prior to the internal relationship between the threat and break the balance of interests, this time good to settle the pony brother is still good.

Joint meaning: besieging and go to the countryside

To clean up Tencent this investment is the purpose of the strategic investment, analysts will be nervous to guess whether Tencent is looking at the east of Beijing, what is the quality of the investment East, I think first from a story.

Brother Ma is a southerner, I do not know whether pony likes to read history. But Sun Tzu's Art of war as a businessman, must have read, so about besieging's allusion must still have heard, besieging story is said Zhao was a powerful enemy of the Wei invasion, almost to the subjugation, the critical moment for help in the QI, but the Qi bin received news, not too eager to save Zhao, But directly running to the capital of Wei, the final Wei has no way, Pangjuan with large force returned, the result eventually defeated in the hands of Qi.

and pony Brother is playing a recruit besieging, although there is no Zhao can save Tencent's basic moat is actually in the social field, and in the field of electric business, strategic defense is more significant.

Carefully combing Tencent's investment in the field of electricity, in fact, it is easy to find that the first in the electronic business, MA brother is very optimistic about the ring. In addition to their own son, that year allegedly to hit 2 billion outside the QQ online shopping, as well as Pat Net, Tencent Electric business has invested in the Xun diamond, good music to buy, and subsequently a comprehensive acquisition of the purchase and sale of the mobile electric dealers treasure. Online tourism in the field of the same journey, Art dragon, local life Field Peng, F group, etc. It can be said that regardless of the Luo bu green vegetables, all kinds of varieties have. But in the end, the relatively good Xun net handed over a transcript, according to the report released by Eric Consulting, At present, the market share of Xun is about 5.9, and Jingdong is 45. Perhaps it is to see such a gap, the small Mago Cai is determined to completely discard the not good part of the focus on the strategy to contain opponents, rather than direct their own shot. At least use the alliance between Beijing and east to completely sniper their old opponents Ali.

This time, Jingdong becomes Tencent next step strategy best Choice object. Because the best way to sniper an opponent is to be a good friend with the enemy's opponents. Of course, there is an important law in the war, look at the opponent where the most important, the most meat, find a dagger mercilessly inserted it. Of course, Tencent is not the first time to use this decapitation tactics for this recruit pony brother has plagiarized another "brother Ma" Suspicion, another Margo push and hand tour platform is considered to be completely cut off Tencent cash flow kill recruit, but this time, pony the same strategy once again used. So, this time the dagger is Jingdong, the target is rural.

But simply invest in Jingdong as a defense, pony Brother is obviously not reconciled. Perhaps, pony brother has actually seen a attack on the power of the empire of the best perspective, that is the three or four-line city, this is the battlefield of the real battle.

Tencent may be from its own investment in the sale of the treasure on the inspiration, or just because see Taobao released a report on the "China's county-level network to buy the development of" in the three or four-line city of the demand for more vigorous online shopping, while the vast three or four-line city is the real electric business battlefield, All this can also be in the Beijing East CEO Liu last year from abroad back in the speech to be corroborated: "Jingdong in the first-tier city competitiveness has been more than the cat, but in the three or four line still than." "From this basic can be judged Taobao in the three or four line of the broad rural strength."

This from the O2O field of the two leaders of the United States and comments on the data can be seen in the current Chinese electric power business of the main battlefield in the end, the U.S. group trading data on the leading public comments, but the public comments in the first-tier cities occupy the advantage, and the United States Group is strong in the vast three or four-line city, the public comment on the final selection of Tencent, strategic intent has been very obvious, In addition to relying on Tencent's micro-credit flow portal, Tencent QQ in the three or four-line city can help these ground army powerful forces in the air first open up the battlefield, Tencent traffic strength is also in the three or four-line city of the strong, so, the best place to break Ali is to use their own in the three or four-line city's powerful air Force, and equipped with the army of the forces that want to drive into the three or four-line city, eventually to the enemy's rear, even if not finally defeated the opponent, can at least hold the opponent no more energy with their own in the area of local life too much entanglement, if so, Tencent's ultimate intention is reached, and this may be the end of Pony brother The core reason for choosing the true alliance with Liu.

In addition, Tencent has another obvious strategic intention: to rely on Jing-dong to completely open the micro-trust ecological circle. Before, I have analyzed, Tencent is strong in its air power is strong, that is, the most extensive social flow. But the mere possession of the flow is not enough to constitute the O2O ecological circle, must be docked at one end of the business, Tencent relies on investment reviews has solved the problem. The other end is how to better reach the user's hands, this time, the channel will be able to sink to three or four lines, and get through the last kilometer of Jingdong is the best choice, so that local businesses in the future based on micro-credit flow platform and payment, plus the Beijing East owned 1400 distribution stations and 1300 counties Logistics, This three-dimensional collection of local services with the Monday kilometer of the three-dimensional biosphere has been built up, perhaps in this link, buy a graph bar will become the last part of the puzzle.

Tencent finally completes O2O "army" layout

Of course, Tencent's strategic investment may not be more than this, the thirst for local consumption data may be a micro-letter another bureau, once the completion of the Beijing-East and micro-letter seamless docking, consumer data and user data will be micro-trust platform, and data and finance is the real big business. To small, said that these basic trading data will be Tencent decided whether to continue to buy comments or an important indicator of Jingdong, Baidu is said to rely on the flow of data to determine whether the decision to invest in the purchase, which may be the platform's natural advantages.

After saying the ideal of Tencent, we can in fact turn to see what Beijing East wants from Tencent. In his first speech after Liu's return home last year, we may have seen more detail and thought, and he made two important strategies for the 2014: O2O five years, the fresh electricity dealer delivered 10 minutes. The implication is that O2O will become an important consideration for Jingdong. The 21-line city is more competitive than the cat, but in the three or four line, the next step is to break through.

From the data given by Jing Dong, the sinking of Beijing-East Logistics has already been achieved, in the three or four line near 1300 of the county logistics can basically achieve the mainstream city coverage, the ground of the army is actually ready to fight, but how to surprise the obvious need for air flow continued to import assault, Tencent will give greater support to jingdong in this regard. Another Tencent hand on another trump card trading treasure can not be ignored, the sale of PO in the three or four-line city mobile end is relatively strong, but also early into the countryside, to practice the vanguard of the rural strategy, once in Tencent-led with more than Jingdong, will be the headquarters of Ali Joint Strike.

Of course, Jingdong is just for a traffic entrance (such as the position of the micro-letter port like comments), that too underestimate the strategy of Jingdong, in fact, there is more important behind the value and significance, that is the payment link.

Everyone knows the importance of paying, otherwise Jing Dong will not go to buy net silver online. But the discerning eye still can see in the Beijing East Payment link slightly lacks, whether it is after the O2O link or in their own payment has been strengthened, micro-letter payment of the power is indispensable, in passing and Alipay after the blood, micro-letter payment already has its own lake status, for trying to make up the puzzle of Jingdong, Micro-credit payments will give you a bigger chance of winning the battle against the Cat.

Summary: Ali or will speed up the advance with 360 deep cooperation

At this point, you can make a summary. The significance of Tencent's investment in Beijing-east from the strategic level is to hold Ali from the electric quotient level, so that Ali has no O2O and Tencent to grab food in the battlefield. At the same time, from the point of view of micro-credit platform, relying on investment reviews and Jing-dong to formally complete the army equipment upgrades. The ultimate tactic was to burn the Flames to Ali's backyard and the vast rural base.

For Jingdong, in addition to the list of a big backer, let oneself take a breath outside, micro-letter and Tencent QQ in the three or four-line city of the vast space to allow themselves to increase the flow of the entrance, while joining the Tencent Front can also get a larger number of comrades and upgrade their own combat tools, such as micro-letter payment such as "Hot weapons." In this way jingdong can also achieve their own lofty ideals to the countryside to achieve faster, after all, with the "Air Force", the ground march is much easier.

It can be foreseen that after the introduction of Tencent resources, Jing-dong will be able to open the March route in the three or four-line city rapidly.

And by the Beijing-east into Tencent, as well as public comments on the impact of the missed, perhaps Ali will speed up with 360 of the strength of cooperation, Ali will also increase the shares of Sina Weibo, so that in this game as soon as possible to find more allies and chips, in order to fill the front of the line may be fatal loopholes.

Whether you like it or not, the two giants of the internet world are officially formed, and Chinese internet companies are truly entering an era of unprecedented "being in line".