Uber China, drop mass burn fiercely contested: heading for a merger, or the end-Uber, special trains to the last drop, drip-IT information

Analysis published in the online edition of the Wall Street Journal article said that Uber China and drops over the massive Chinese taxi engaged in a fierce competition in the market, much money, rushing to finance. Even if China's taxi market size, but may not be large enough to hold two large taxi service company. Some investors increasingly feel that they can't compete makes them endlessly, and should lead to merger negotiations between the parties. However, the merger will not be easy. Uber China is expanding rapidly in China, and raising capital. Moreover, the Uber CEO kalannike is known for aggressive, he is unlikely to lose.

The following is the full text of the article:

China is a big market, but is it big enough to hold two large taxi service company?

Uber China and China's taxi market drops, the local leader of the competition is very fierce, that some investors feel this is unlikely. In fact, some investors believe the two competing companies might end up heading for a merger.

Taking into account both in cash reserves for "total war," prepare this statement could have been scratching their heads. Uber has financed nearly 13 billion dollars, including 3.5 billion dollars from the Saudi sovereign wealth Fund earlier this month, part of this financing will go to China Uber. Uber China alone raised $ 1.2 billion.

Meanwhile, the drops have just completed a round of $ 4.5 billion in financing, including Apple's $ 1 billion investment and China life insurance's $ 600 million investment. In addition, drops or through debt financing from investment banks to raise 2.5 billion dollars.

Burn continuously or contributed to merge

Flood of capital into some investors and observers worry about the problem. They said, dripping with Uber and continued competition, subsidies to attract passengers and drivers, these funds will be burned up.

"The first Gulf War cost about $ 60 billion of funds," Managing Director of GSR Zhu Xiaohu said, the company is involved in three rounds of financing to the last drop, "drops and Uber has financed about $ 20 billion. This is a war, but they can't keep playing like this, reaching $ 30 billion before the ceasefire. ”

Zhu Xiaohu and others number of drops, Uber County and Uber investors around the globe believes that, if the two sides can agree on the valuation and ownership structure, merging is possible.

However, merging small block. It is well known that Uber CEO telaweisi·kalannike (Travis Kalanick) itself is a competitive man, his Uber global operations in China as a top priority, plans to invest $ 1 billion to expand the Chinese market last year. After expansion in China, Uber orders up to 6 of the top 10 cities in China.

Drops spokesman said the company has no plans to merge with the Uber China. Uber China spokesman declined to comment on whether he was considering a merge to the last drop.

Endless competition?

Drops and Uber China said, they more and more close to profitability. Trickle said in 400 cities in the company, with more than 200 is now profitable, "soon" will achieve the overall profitability. China Uber said corporate spending fell in China each order 80%, "is on the profit on the right path."

It's hard to say when competition will end on both sides. As long as the Uber China wants to expand into new cities, challenge the dominance of drops, or drops them to keep its market share, the two sides may well continue to burn .

Drops and Uber China disagree on the market share data. Multiple copies of a report from a third party company, calculated according to the orders and user coverage, drops in China's car market share of more than 85%. That has not been taken into taxi taxi market, because the market is almost monopolized by the drops, and Uber China does not participate in the competition. Uber China operates in 60 cities in China, the company claims that one-third per cent of the market share. Beijing research firm Analysys International track 150 million active smartphone users, the company's figures show that this year May drop with 43.1 million active users, Uber has 10.1 million.

Drops is valued at more than $ 25 billion, though well below the nearly $ 68 billion Uber global, but it is the Uber China more than three times the $ 8 billion valuation.

Whether it be Uber or drops, they are faced with China's third-largest taxi company's easy-to-use vehicle competition. Easy-to-use vehicle access to the investment isn't as much money as two other opponents. After winning her $ 700 million investment, easy-to-use vehicle through top cash back promotion activities to attract users. According to Analysys, easy-to-use vehicle in May this year with 3.9 million active users.

Taxi market like China it is difficult to develop customer loyalty. Beijing, freelance writer Li Lilian (Lilian Li, transliteration) recently has been using easy-to-use vehicle, because it cost by taxi than drops and Uber one-third less than half. She said that if other service price, she would not hesitate to abandon their easy-to-use vehicle.

Merge or unavoidable

Said one venture capitalist investments drop, economics of the network effects that once assisted in the creation of Facebook, micro-and almost a monopoly of Internet products, but it does not apply to taxi service. He said new users join Facebook or micro-letter is there because their friends, social network gets new users almost without any costs. But drops and Uber requires sustained investment to acquire and retain new users, because these users have no reason to remain loyal to their service .

An Uber global investor finance is compared to an arms race. Although the two companies have had the fortune to wealthy investors, but drops with Uber may be unavoidable, especially in considering the case of the amalgamation of the entire trend of China's Internet industry.

And Uber is different, is no stranger to merge to the last drop. Drops is the last February by drops of taxi and taxi formed through the merger because the two companies compete on price, making their investors are not willing to continue to provide funding.

Venture capital firm innovation works CEO Kai-Fu Lee said that drops with Uber China in line with the industry's consolidation trend. Innovation works is not an investment drops or Uber. He came up with that might prevent drops and Uber China merge for two reasons: first, if China drops that they can defeat the Uber, then they would not have to pay a premium to buy Uber China and secondly, Uber has raised a lot of capital, kalannike is also known for aggressive, so Uber may not admit defeat.

Indeed, two drops of investors said they would prefer to let the competition down to the last drop, beating Uber China, so that their shares will not be diluted.

Conference on Science and technology, held in Hong Kong this month, Uber strategy Liu Zhen, China admitted to hearing the discussions on working capital. "I have to admit, I hear a lot of merging of voice, many people have been asking me this question," she said. But Liu Zhen said, Uber is hopeful China will continue to grow rapidly.

When asked about Uber when you might when they exceed the drop in the Chinese car market, she replied: "I hope that in the next year. ”

Uber中国、滴滴大肆烧钱竞争惨烈：或最终走向合并 - Uber,滴滴专车,滴滴出行 - IT资讯

《华尔街日报》网络版发表分析文章称，Uber中国和滴滴出行为争夺庞大的中国打车市场展开了激烈竞争，大肆烧钱，争相融资。即便中国打车市场规模庞大，但可能也无法大到容下两家大型打车服务公司。一些投资者越来越感觉到不能让他们无休止地竞争下去，应该促成双方的合并谈判。不过，合并并非易事。Uber中国目前正在中国迅速扩张，并且筹集了大量资本。而且，Uber CEO卡兰尼克是出了名的好斗，他不大可能服输。

以下是文章全文：

中国是一个大市场，但是否大到足以能够容下两家大型打车服务公司呢？

Uber中国与中国打车市场本土领头羊滴滴的竞争十分惨烈，以至于双方的一些投资者愈发感觉到这不大可能。事实上，已经有部分投资者认为，两家相互竞争的公司最终可能会走向合并。

考虑到双方都在增加现金储备为“全面战争”作准备，这一说法可能让人摸不着头脑。Uber已经融资近130亿美元，包括本月初来自沙特主权财富基金的35亿美元，该融资的一部分将流向Uber中国。Uber中国已经单独融资12亿美元。

与此同时，滴滴刚刚完成了一轮45亿美元融资，其中包括苹果的10亿美元投资和中国人寿的6亿美元投资。此外，滴滴还通过债务融资从招商银行筹集了25亿美元资金。

烧钱不断或促成合并

大量资本的涌入正是一些投资者和观察人士所担心的问题。他们表示，随着Uber和滴滴继续竞争，为吸引乘客和司机提供补贴，这些资金将被烧尽。

“第一次海湾战争耗费了大约600亿美元资金，”金沙江创投董事总经理朱啸虎表示，该公司参与了滴滴的三轮融资，“滴滴和Uber已经融资大约200亿美元。这简直就是一场战争，但是他们不能这样打下去，在达到300亿美元之前必须停火。”

朱啸虎和其他多位滴滴、Uber中国以及Uber全球的投资者认为，如果双方能够在估值和股权结构上达成一致，合并是有可能的。

不过，合并的阻碍不小。众所周知，Uber CEO特拉维斯·卡兰尼克(Travis Kalanick)本身就是一个争强好胜的人，他把中国视作Uber全球业务的重中之重，去年就计划投资10亿美元扩大中国市场。经过在中国的扩张后，Uber订单量最多的前10大城市中有6个在中国。

滴滴发言人称，公司绝对没有与Uber中国合并的计划。Uber中国发言人拒绝就是否考虑与滴滴合并置评。

无休止竞争下去？

滴滴和Uber中国均表示，他们越来越接近盈利。滴滴表示，在公司运营的400个城市中，有超过200个现在已经盈利，“很快”将实现整体盈利。Uber中国则表示，公司在中国每份订单上的支出下降了80%，“正走在盈利的正确道路上”。

很难说双方的竞争将在何时终止。只要Uber中国希望向新城市扩张，挑战滴滴的主导地位，或者说只要滴滴想维持其市场份额，双方很可能就会持续烧钱。

滴滴和Uber中国在市场份额数据上存在分歧。来自第三方公司的多份研究报告称，根据订单量和用户覆盖面计算，滴滴在中国专车市场的份额超过85%。这其中并未计入出租车打车市场，因为该市场几乎由滴滴垄断，而且Uber中国并不参与竞争。Uber中国在中国60个城市运营，该公司声称占有三分之一以上的市场份额。北京研究公司易观国际对1.5亿活跃智能机用户进行追踪，该公司的数据显示，今年5月份滴滴拥有4310万活跃用户，Uber中国拥有1010万。

滴滴目前的估值超过250亿美元，尽管远低于Uber全球的近680亿美元，但却是Uber中国80亿美元估值的三倍以上。

不管是滴滴还是Uber，他们还都面临中国第三大打车公司易到用车的竞争。易到用车获得了乐视的投资，并不像另外两家对手那样大肆烧钱。自从获得了乐视的7亿美元投资后，易到用车一直通过充值返现的推广活动吸引用户。易观国际的数据显示，易到用车今年5月份拥有390万活跃用户。

中国这样的打车市场很难培养用户忠诚度。北京自由撰稿人李丽连(Lilian Li，音译)最近一直在使用易到用车，因为它的打车成本要比滴滴和Uber少三分之一到一半。她表示，如果其它服务降价，她会毫不犹豫地弃用易到用车。

合并或不可避免

一位投资了滴滴的风险投资家称，经济学中的网络效应曾经协助创造了Facebook、微信等几乎垄断的互联网产品，但是它不适用于打车服务。他表示，新用户加入Facebook或微信，是因为他们的朋友在那里，社交网络获取新用户几乎不费任何成本。但是滴滴和Uber需要持续投资获取、留住新用户，因为这些用户没有理由对他们的服务保持忠诚。

一位Uber全球的投资者将融资比作是军备竞赛。尽管两家公司很幸运获得了财力雄厚的投资者支持，但是滴滴与Uber的合并可能不可避免，特别是在考虑到中国互联网行业的整体合并趋势的情况下。

和Uber不同，滴滴对于合并并不陌生。滴滴就是在去年2月份由滴滴打车和快的打车合并而成，原因就是两家公司大打价格战，使得他们的投资者不愿意持续提供资金。

风投公司创新工场CEO李开复称，滴滴与Uber中国的合并符合业内的合并潮流。创新工场并未投资滴滴或Uber。他列出了可能阻止滴滴和Uber中国合并的两个原因：首先，如果滴滴相信他们能够打败Uber中国，那么他们就不会支付溢价收购Uber中国；其次，Uber已经筹集了大量资本，卡兰尼克也是出了名的好斗，所以Uber可能不会服输。

确实，有两位滴滴的投资者表示，他们更愿意让滴滴竞争下去，打败Uber中国，这样他们的股份就不会被稀释。

在本月香港举行的科技大会上，Uber中国战略主管柳甄承认听到了有关资本合作的讨论。“我必须承认，我听到了很多合并的声音，许多人都在问我这个问题，”她表示。但是柳甄称，Uber中国很有希望继续快速增长。

当被问及Uber何时可能在中国专车市场超过滴滴时，她回答道：“我希望在明年。”