In recent days, there has been a lot of rumors about the merger of Didi and Uber. After several rounds of testimony and rumorous tug-of-war battles, today, Didi finally officially announced its acquisition of Uber China!
According to the official release issued by Dripping:
Didi Travel has announced that it has reached a strategic agreement with Uber Global. Didi Travel will purchase Uber China’s brand, business, data and other assets in mainland China.
After the two parties reached a strategic agreement, Didi Travel and Uber Global will hold each other’s shares and become minority shareholders of the other party. Uber Global will hold a 5.89% stake in Didi, which is equivalent to 17.7% of economic equity. Uber China's remaining Chinese shareholders will receive a total of 2.3% of economic equity. Didi therefore became the only company that has invested in Tencent, Alibaba, and Baidu. At the same time, Cheng Wei, founder and chairman of DDT, will join Uber's global board of directors. Uber founder Travis Kalanick will also join the Dripping Trip Board.
Uber China will maintain its brand and operational independence, and drivers and passengers will continue to receive stable services. Both companies will advocate "internal competition" and "resource sharing" in their businesses.
Intrinsic causes of consolidationFor the internal reasons and purposes of the two mergers, the industry analysts said:
From the standpoint of Uber, it is unlikely that China will overcome its success. It will have $10 billion in cash and more than 80% market share. There are also Ali and Tencent behind it. From the historical experience, no foreign-owned internet company has ever been able to successfully win over domestic companies in China (small areas are temporarily left behind).
Uber has started to issue debt financing, although it is to improve the capital structure, but such a high valuation, it shows that it will not be as easy as equity financing. There are so many places in the Chinese market that Uber hasn't been paved. To continue to market, you need to burn money. In the situation of tight funding and strong competitors, it can be considered to withdraw. The consumption of drops and Ubers may not be worthwhile. If they are merged, they can gain dominance in the Chinese market and Uber can also sell a good price.
Many shareholders of the two companies are coincident. From the shareholders level, we are also happy to see the merger. After all, the two losers or one of them is killed. The losses are all their own money. (The case of Sequoia's integration with U.S. and Baidu's integration of Ctrip is just around the corner.) ).
After the merger sword BaiduFor the merger of the two parties, specific details have not yet been announced, according to previous speculation reports that the valuation after this merger is as high as 35 billion US dollars, in addition, Didi travels are planning to value US$68 billion to invest in Uber10. One hundred million U.S. dollars.
In this regard, the industry sources said that Uber and Didi merger, its high valuation is likely to sword Baidu in the BAT's third position, and now Baidu's market value of 56 billion US dollars. After the two biggest rivals become partners, other industry competitors are less likely to suffer. After the merger, the management team of DDT has greater independence, and can learn the global routines of Uber, carry out services such as express delivery and meal delivery, and the valuation may be further improved. It is not impossible to replace Baidu’s third position. .
In addition, before the merger, DDT is faced with a strong opponent. Although this opponent does not have an advantage in the Chinese market, DDT must face the pressure from Ali and Tencent. After the merger, Alibaba and Tencent’s influence on Didi will Weakened a lot, the independence of the drops greatly increased, Cheng Wei or become the biggest winner.
Views of the peopleTo know the user Zhao Ruisheng:
There is no doubt that this is an acquisition that is most conducive to investors and most unfavorable to users. Investors no longer have to pay for their crazy malicious competition.
However, I am curious that even if we do not look at market share, an internet company with three BAT companies at the same time as the contributors was born, and even if it does not violate the anti-monopoly law, what is the use of anti-monopoly law?
No. 10,000 writer No. 18 langerwang:
This is actually Uber's disguised withdrawal from China. Its operating costs can't compete with Didi in the Chinese market. If it wants to be listed in the United States as soon as possible, it must divest China’s assets that are still burning money. After all, Uber has achieved profitability in the United States.
The core issue is the nature of the shared economy. If there are no technical barriers, this will set up a business that competes. While building barriers to take the lead, Uber sees it very clearly that self-driving cars are the future. Therefore, they prefer to use the money in these areas, rather than fall into an endless subsidy war.
If you really drop 20% of the shares, you must lose. The first uber does not have 20% of the market in China. The viscosity of the second shared platform is insufficient, and as long as the subsidies are increased, Yidao and Shenzhou will quickly fall into another battle.
Senior Media Liu Quan :
After the taxi may not offer it?
Attachment: Full text of the official announcement of the drop:
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