End of the irrational money-burning model: beautiful round go from here? -Beautiful round, step, drop-IT information
Articles about Uber China and merge to the last drop, had been working in scientific and technological circles to scroll. Someone taking advantage of marketing, some analysts reason, wrote and Uber Chinese employees feeling to express how proud, saying, "don't leave this world, we don't run up to people."
In fact, this is essentially a game of capital, has nothing to do with feelings. Back in July, reported by Bloomberg News, said many institutional investors in promoting Uber and signed a cooperation agreement to the last drop. Uber in order to compete for a bigger market share in China, plans to invest billions of dollars, and investors decided to stop this scheme.
Wait until the merger was confirmed by both parties, more details were disclosed. The negotiations, mainly by the top management of both direct and docking. Drops of trip this is Wei Cheng, Liu Qing, Uber are CEO telaweisi·kalannike (Travis Kalanick) and two other top executives. Uber Senior Vice President Liu Zhen, China is not involved, district employees whole Uber China was kept in the dark.
This is the cruelty of Commerce, Uber investors can't put up with the daily burn. Liankalannike said: "we in the United States has been profitable, and we lost more than 1 billion dollars a year in China. Due to the fierce competition, we in the cities in which they are making no profit. They are buying market share. I hope that the world is not like that. ”
Travel time is not good to the last drop. In 2015, losing more than $ 2 billion. Company says just stop the madness of subsidizing measures, 2017 at once can completely profitable, profits of up to $ 1 billion. Problem is that in June this year, drops of travel financing of $ 4.5 billion, company valuations are as high as 28 billion US dollars. Earn 1 billion dollars a year, do support such high valuations?
The end of a pattern
Internet companies burn through money do large-scale, have a certain rationality. Just when you're one who doesn't make, money will become a game of wealth, competition is financing capacity. As the company wants to be a World War II battle of atomic war, directly on the opponent. But I didn't know it, most of the time, they are stuck in a world war I-style "meat grinder" of war. In the end, capital will come, so that the original play opposing sides of the die, and become a family.
Uber and drop merging of China, declared the end of a pattern. Or rather, when Internet companies into extreme irrational money-burning phase, will return to the nature of the business. What is the nature of the business? Moderate investment, sustainable profits, customer loyalty, and corresponding social responsibility.
Taxi software war is over. Look, who is the field of O2O burn large? Only one company: the group. Late last year, the Group consolidated public comments, Wang XING may think that the war is over for the local service. In fact, the war is far from over.
Industry doubts Baidu O2O field determination to think O2O startups are all, for Baidu is only part of execution of Baidu's desire to win and certainly weaker. Turns out, everybody underestimated the Baidu. Li has as a core strategy of Baidu O2O, important than artificial intelligence. Baidu still has a force of China's Internet world the most primitive of the flow, and a large technical advantage, combined with plenty of ammunition, the winner, did not. History has proved, in those business areas requiring huge amounts of funds, sufficient attention as long as Baidu, even three, also a first. For example video, aiqi art from a second-tier video site, now tied with potatoes, youku, is to step out.
Since the us fully to Tencent, Ali's partnership with the United States Mission would end. Original O2O just cut into the chain link: the drainage on the line to help businesses market. O2O in the future will extend upward to more links, including payment, merchant supply chain. For the b-side's ability to expand is more and more important, while Ali has born with offline business genes. Plus a full bet is hungry, is even more beautiful round the throat. Hungry yet rise in the Shanghai Jiaotong University Minhang campus, deep roots in the College and white-collar market, main founder Zhang Xuhao biwangxing the younger, also from the "competition of the dead" climbed out, determined to fight a protracted war and Wang.
Under this structure, the Group wants to burn money to defeat opponents, almost impossible. But there is no sign of stopping, following earlier f round into a US $ 3.3 billion in July and thawed g round. G round did not release financial data, capital support to the United States Mission has been much less than before.
Imbalances in ecosystems
A good O2O ecological, merchants and consumers are a win-win basis. Being biased towards any party may cause ecological imbalances. The group from "thousands of war" to break out of the company, and buy low price is the essence of, by keeping merchants price to attract more passengers. This led the United States with the line between commercial tenants, there has always been game. Simply for volume, beautiful round pressed line commercial tenants from time to time, for many businesses and entrepreneurs, not hesitating to say.
Jiangsu Yancheng company called "leader I pickled fish" owner had issued, tells the group that he lost in two months of 660,000 yuan. Group sales, this shop is a full 50 percent a month in the first, and owners month-end inventory and found that not only did not profit, lost nearly 200,000 yuan. Increased to 78 percent discount and still lose. But group sales discounts will not be adjusted, also claimed that the owner if you dare and other cooperation platforms, stores from the Group affiliates. Before taking into account has invested a lot in the United States, had accumulated a number of popular, shopkeepers in desperation and persisted for a month. Finally found two months loss of 660,000 yuan. Because of the heavy losses, the owner inadvertently engaged but to resale stores.
These are all grass-roots entrepreneurs worry about the problem, the Internet platform can enhance efficiency, once the platform to a certain extent, also contributes to a monopoly. O2O pattern now undecided, the group "shop tricks" as it is hard to imagine, if there is a unification of the rivers and Lakes of the day, conditions for businesses might be.
As we all know, public reviews of development path is different from the United States, which is customer reviews by leveraging the business, before entering the transaction. Public comments on the construction of ecological environment, more objective and neutral. It was won by the company "slow company" reputation: seemingly slow development, but the roots plunge deep. United States Mission and the public comments into "the new American", a lot of people think it must be "1+1>2", but the statistics show, all the merger and acquisition cases, only 20% to 25% the probability of success.
Of particular note is that the "successful mergers and acquisitions" does not mean "the success of mergers and acquisitions." Numerous empirical studies show that mergers and acquisitions fail, most are caused due to consolidation is not in place. What motivated regardless of prior announced mergers and acquisitions, such as entering a new field, access to larger markets, some synergistic effects, must be achieved through consolidation. Manager's dilemma is not to undermine both the premise of original features, respond quickly and effectively to integrate the two together. Integration process that involves "technology, politics and culture" in three dimensions, where culture is the source of conflict, differences in corporate culture, is the main reason mergers and acquisitions fail to achieve the desired objectives.
Group consolidated public comment, also is the most simple and crude way: replace the original people and put on their own people. From late last year to this summer, the Group reviews carried out two rounds of organization structure, originally called "Ali" and "reviews", or the right to cut or eliminated, and influence have been largely cleared up. Such integration, far from what management skills, simply divided camps, public reviews of the advantages, is not how to keep.
Group consolidated public comments, presumably to overlay, it seems, just to eliminate a competitor. When external competition is less intense, such integration is no problem, at most public comments gradually shrinking until it vanishes. But when the fierce foreign competition, such integration would give the opponent leaves an opportunity, they will erode the market share of public comments, and then put the foot on the Group's core areas.
America at the crossroads
Development to this point, the group go, is the concern of all of us. Wang is a lost war entrepreneurs, the Group also considered his great work. Obviously, such a conclusion would be premature now.
There is an obvious phenomenon, often overlooked, that is today's BAT, not simply burn to burn out. They will melt, and fought, but the purpose of financing, the purpose of war, first of all, is to provide users with better service, rather than throwing money dead rivals. By burning the money become a Chinese Internet "part IV", the road is impassable.
Mission to the United States, there are two paths for the future. One is to consciously become part of Tencent's strategy map, O2O sharing the sky with other competitors in the field. Tencent's main industry is gaming and social networking, in other areas, the basic strategy is to share without holding, the United States recognize this, no big management problems, and their space.
A continuation is now the old road through one round, one round of financing, trying to eliminate all competitors. Duel Masters, won in an instant, live now rivals, is not an ordinary person. This road is very high risk, full of cliffs, a little inattentive, are beyond redemption. Once the internal integration and management of the big loophole, problems broke out. At that time, the Group reviews the final destiny, may be closed down.
非理性烧钱模式终结：美团将何去何从？ - 美团,优步,滴滴 - IT资讯
有关Uber中国和滴滴出行合并的文章，最近一直在科技圈滚动。有人借势营销，有人分析原因，还有Uber中国员工写出情怀文，表达自己如何生而骄傲，说“不要把这个世界，让给我们看不起的人”。
其实，本质上这是一场资本游戏，跟情怀没有什么关系。早在7月份，彭博社就有报道，说多家机构投资者在推动Uber与滴滴出行签订合作协议。Uber中国为了争夺更大的市场份额，计划再投入数十亿美元，而投资者决定阻止这一计划。
等到合并消息被双方确认，更多细节披露出来。这次谈判，主要由双方最高管理层直接对接。滴滴出行这边是程维、柳青，Uber这边是CEO特拉维斯·卡兰尼克（Travis Kalanick）和另外两位高管。Uber中国高级副总裁柳甄没有参与其中，整个Uber中国区的员工被蒙在了鼓里。
这就是商业的残酷性，Uber的投资人再也忍受不了每天烧钱。连卡兰尼克也说：“我们在美国已经盈利，而我们在中国一年损失超过10亿美元。由于激烈的竞争，我们在它们所在的城市都没有盈利。它们买下了市场份额。我希望世界不是这样的。”
滴滴出行的日子也不好过。2015年，亏损超过了20亿美元。公司声称，只要停止疯狂的补贴措施，2017年马上可以彻底盈利，利润可达10亿美元。问题是，今年6月份，滴滴出行融资45亿美元，公司估值已经高达280亿美元。一年赚10亿美元，支撑得起这样高的估值吗？
一种模式的终结
互联网公司通过烧钱做大规模，有一定的合理性。只是谁也打不死谁的时候，烧钱就会沦为一场炫富游戏，比拼的是融资能力。鏖战中的公司都希望是一场二战那样的原子战争，直接就干翻对手。但没想到，大多数时候，它们陷入的是一场一战式的“绞肉机”战争。忍到最后，资本会出手，让原本打得死去活来的敌对双方，成为一家人。
Uber中国和滴滴出行合并，宣告了一种模式的终结。或者说，当互联网公司进入极度非理性烧钱阶段，一定会回归商业的本质。商业的本质是什么？适度的投入，可持续的利润，忠诚的客户，相应的社会责任。
打车软件的战争算是结束了。放眼望去，谁还是O2O领域的烧钱大户？只有一家公司：美团。去年下半年，美团合并大众点评，王兴可能认为本地生活服务的战争已经结束了。实际上，战争远没有结束。
原来行业怀疑百度在O2O领域的决心，认为O2O对创业公司来说是全部，对百度来说只是一部分，所以百度的求胜欲望和执行力肯定弱一些。事实证明，大家低估百度了。李彦宏已经把O2O作为百度的核心战略，重要程度不亚于人工智能。百度仍然拥有中国互联网界最具洪荒之力的流量，以及庞大的技术研发优势，加上充沛的资金弹药，鹿死谁手，还真不一定。历史也证明了，在那些需要巨量资金的创业领域，只要百度足够重视，即便三分天下，也必有其一。例如视频，爱奇艺从一家二线视频网站，到如今与优酷土豆、乐视并列，就是一步步打出来的。
自从美团全面倒向腾讯，阿里与美团的合作关系也就结束了。原来的O2O只是切入产业链的一个环节：线上引流，帮助商户营销。未来的O2O，一定会向上延伸到更多的环节，包括支付、商家供应链等。面向B端的拓展能力越来越重要，而阿里有与生俱来的线下商务基因。再加上全面押注饿了么，更是让美团如鲠在喉。饿了么崛起于上海交通大学闵行校区，在高校和白领市场根基深厚，主要创始人张旭豪比王兴更加年轻，也是从“竞争的死人堆”里爬出来的，铁了心要和王兴打一场持久战。
这样的格局之下，美团希望用烧钱方式打败对手，几无可能。但美团根本没有停下来的迹象，继年初F轮融了33亿美元以后，7月份又融了G轮。只是G轮没有公布融资数据，可见资本方对美团的支持力度已经大不如前。
失衡的生态系统
一个良好的O2O生态，商户与消费者双赢是基础。过于偏向任何一方，都会使生态失衡。美团是从“千团大战”突围而出的公司，而团购的本质是低价，通过压低商户价格，吸引更多的客流。这就导致美团与线下商户之间，一直存在博弈关系。为了追求片面的交易额，美团压榨线下商户的现象时有发生，让不少商家和创业者敢怒不敢言。
江苏盐城一家名叫“首领我家酸菜鱼”的店主曾经发文，讲述美团让他在两个月内赔掉了66万元。美团的业务员，让这家店在开业的头一个月全面5折，结果店主月底盘点，发现不但没有盈利，还亏了近20万元。把折扣提高到7.8折，还是亏。但美团的业务员不愿意再调整折扣了，还声称店主如果敢于和其他平台合作，就将门店从美团下线。考虑到之前已经在美团投入不少，好不容易积攒了一些人气，店主无奈之下又坚持了一个月。最后发现，两个月合计亏损了66万元。由于亏损太大，店主无心经营，只好将门店转手。
这其实是所有草根创业者最担心的问题，互联网平台确实可以提升效率，一旦平台大到一定程度，也就形成了垄断。如今O2O格局未定，美团尚且“店大欺客”，很难想象，如果真有一统江湖的一天，商户的生存状况该是怎样。
众所周知，大众点评的发展路径有别于美团，其是通过用户点评撬动商家，然后才进入交易环节。大众点评在生态氛围的营造上，更加客观中立。这让这家公司赢得了“慢公司”的名声：看似发展较慢，但根基扎的很深。美团和大众点评合并成为“新美大”，很多人以为一定是“1+1>2”，但统计数据显示，所有的公司并购案例，只有20%到25%的成功概率。
尤其需要说明的是，“成功的并购”并不等于“并购的成功”。众多经验研究表明，并购失败，大部分是由于整合不到位造成。无论事先对外宣称的并购动机是什么，如进入新的领域、获得更大的市场、获得某些协同效应，都必须通过整合予以实现。管理者的两难处境，是在不破坏并购双方原有特色的前提下，迅速有效地将两者加以整合。而整合过程，涉及“技术、政治与文化”三个维度，其中文化是导致冲突的主要来源，企业文化的差异，是并购不能实现预期目标的主要原因。
而美团整合大众点评，采用的还是最为简单粗暴的方式：把原来的人换掉，换上自己的人。从去年年末到今年夏天，美团点评进行了两轮组织架构调整，原来所谓的“阿里系”和“点评系”，或削权，或出局，影响力基本上被清除殆尽。这样的整合，谈不上什么管理技巧，只是简单的阵营划分，大众点评原来的优势，也谈不上如何保持。
美团整合大众点评，应该是为了能力叠加，现在看来，也只是消灭了一个竞争对手而已。外部竞争不太激烈的时候，这样的整合没有问题，顶多大众点评逐渐萎缩，直至消失。但当外部竞争极其激烈，这样的整合就会给对手留下机会，它们会蚕食大众点评的市场份额，进而把战火烧到美团的核心区域。
十字路口的美团
发展到这一步，美团何去何从，是所有人关心的问题。王兴是一个屡败屡战的创业者，美团一度也被认为是他的大成之作。显然，现在下这样的结论还为时过早。
有一个显而易见的现象，往往被人们忽视，那就是如今的BAT，都不是简单烧钱烧出来的。它们自然也融过资，打过仗，但是融资的目的，打仗的目的，首先是为用户提供更好的服务，而不是拿钱砸死竞争对手。通过烧钱成为中国互联网的“第四极”，这条路是走不通的。
对美团来说，未来的路可能有两条。一条是自觉成为腾讯战略版图的一部分，在O2O领域与其他竞争对手共享天空。腾讯的主业是游戏和社交，对其他领域，基本策略是参股不控股，美团认清这一点，不出大的管理问题，还有其空间。
一条就是延续现在的老路，通过一轮一轮融资，试图消灭所有的竞争对手。高手对决，胜负在一瞬间，活到现在的对手，都不是等闲之辈。这条路的危险系数极高，到处是悬崖峭壁，稍不留神，就会万劫不复。一旦内部整合与管理出现大的漏洞，问题就会全面爆发。那时候，美团点评最终的命运，可能就是倒闭了。