Reborn multinational giant

The market value of Meituan is 15 billion USD, the market value of popular reviews is 8 billion USD, and the combined market value is not as simple as 150 +80 = 23 billion USD.

With the merger of Meituan and Volkswagen reviews, its market share in the O 2 O field will directly exceed 80%, approaching and in a monopoly position.

After the merger, Meituan commented that its competitors in the O2O field, only Baidu's adhesive rice network, Alibaba's word-of-mouth network, and take-out subdivision are hungry, Baidu take-out and so on. Although there are many enemies, they are not weather.

It can be said that after the merger of Meituan and Volkswagen reviews, the dominance of Meituan reviews in the O 2 O field will be directly established.

Therefore, there is also a premium on the market valuation of the merged Meituan reviews.

25 billion?

26 billion?

28 billion?

30 billion?

In the discussions between Fang Zhe and several major shareholders, the valuation of the new company was constantly pushed up. Wang Xiaoxing, CEO of Meituan and Zhang Tao, CEO of Volkswagen, who were both in the small bag room, were also delighted. After the merger, the valuation climbed to their expected purpose of merging.

What we are looking at now is how much the valuation of the final new company will fall.

$31 billion!

When Shen Nanpeng, chief executive of Redwood Capital China, said this valuation, everyone present held their breath.

US $31 billion, already comparable to Jingdong, enough to rank among the top 10 domestic Internet companies.

“Yes!" Zhang Lei, founder of Gao Yu Capital, nodded first.

Fang Zhe pondered for a moment and nodded slowly. The valuation of 31 billion yuan is already not low. Compared to the market value of 23 billion yuan added up by Meituan and the public reviews, the premium has been around 35%.

This valuation is acceptable to them, as are other venture capital funds in the market.

Next, Meituan's review and subsequent new round of financing will float up according to this valuation. Below this valuation, their three major shareholders will not accept, which is equal to their three, for this valuation tray!

After the valuation was finalized, other details that needed to be finalized were resolved. By the time everyone attended the wedding of General Manager Liu of Beijing East and returned home from Australia, the merger of Meituan and Volkswagen reviews had been finalized.

After the announcement of the news on October 8, the first working day after the National Day, the industry and online friends had a lot of discussion about this.

“The merger of Meituan and Volkswagen reviews is the warming of the group under the cold winter of capital. After the merger, Meituan reviews will become a well-deserved hegemon in the domestic O 2 O field. The capital market is also willing to pay for a dominant Internet leading enterprise.”

“Why merge? Monopoly!"

“I've always felt that public comment is fairer than that of Meituan. That's better. The crows in the world are black.”

“When I remembered in June, Meituan and Volkswagen commented that the local pushers were still fighting for customers. Why are they merging now?"

“Money can make ghosts push, and the shareholders behind them don't want to consume it anymore!"

“After being quick and safe, 58 and catching up with the city and the net, two Internet giants who once died merged. This year's domestic Internet industry is truly magical!"

“Magic? What makes me even more magical is that Fang Fu Fu already predicted all this in advance!"

“Yes, I think the most prosperous prophecy has been verified, it is the most bitter and horrible!"

“I suddenly understand why the prophecy of Fang Fu's richest is so accurate, because it seems that all the masters behind all this are Fang Zhe!"

“Reflection is terrifying!"

Netizens discussed the merger of Meituan and popular reviews, and the divine prophecy video about Fang Zhe at Lakeside University at the beginning of the year was released again, and was fired on Weibo hot search and knowledge list.

“In my opinion, at present, in China, including 58 co-towns and catch-up networks, Ctrip and go where, Yilong, even Meituan and the public reviews, many around 2005...”

“God prophesies! The only thing Fang Zhe didn't say was Ctrip and where to go. However, if he only said that the competition for the inner volume had intensified, it would have been satisfactory!"

“Sweetheart! Meituan and Volkswagen reviews are at the end. It is October. Should there be no more mergers of Internet companies this year?"

“Capital is cold and scary!"Fang Zhe followed suit and was as terrifying as he could be!

Nobody thought that many internet friends thought that there was no Ctrip and where to go, but at the end of October, it was accepted!

On October 26, Ctrip announced an equity exchange with Baidu, transferring all of its shares to Ctrip to replace 25% of Ctrip's shares, Ctrip and where to go, and merging!

As soon as the news comes out, public opinion and online friends are even crazier!

“Don't pull me, I'm going to worship Fang Fu as a teacher!"

“On your knees! I am truly convinced, not that Fang Fufu did not predict, just that the time has not yet come.”

“There is only one truth, and Fang Fu is the mastermind behind all this!"

On the Internet, the remarks that Fang Zhe is behind all this are endless. Only a person with a little brain will know once they have testified. This is not the case!

Because the list of shareholders, whether it's Ctrip or wherever they go, does not contain any company or capital related to Fang Zhe.

The biggest behind this push to merge Ctrip and where to go is where the controlling shareholder is going, Baidu!

As early as 2011, Baidu had spent more than $300 million to acquire more than 60% of its stock holdings wherever it went, and then, with Baidu's resources, it gained a lot of market share in the domestic online tourism market.

Later, where to go, Ctrip and Yilong, successively launched a few years of money burning subsidy war. At the beginning of May this year, Ctrip merged and acquired Yilong, the competitive advantages of where to go expanded, where to be at a competitive disadvantage.

At the beginning of the month, I saw the valuation of Meituan and Volkswagen after merging reviews. Whether it is Baidu or Ctrip senior, I have the idea of where to merge into Ctrip.

Under the pressure of Baidu, Ctrip Tops and Baidu Tops spent only one weekend negotiating the merger. Because there is only one problem with their merger, how much benefit can Ctrip bring Baidu?

The answer is Ctrip's 25% share!

From Ctrip's point of view, Ctrip will have a monopoly on the domestic online tourism market, and its valuation will be the same as that of Meituan after the merger, achieving a huge improvement.

In addition, after the merger of Ctrip and where to go, we can stop the current mad price subsidy war between the two sides, grasp the industry bargaining power, and move towards overall profitability.

And the capital markets did vote with their feet, expressing their preference for the merger of the two companies.

The day after Ctrip merged with where to go, the US shares opened, Ctrip's share price rose by 20%, the total market value exceeded 13 billion USD, wherever the share price rose by 30%, the total market value exceeded 6 billion USD!

Baidu Li, who pushed where to merge with Ctrip and made a good profit from the transaction, agreed in a public meeting on the airy comment:

“Everyone describes how terrifying and horrible the capital winter is, but in my opinion, it is a huge opportunity for the truly capable people and companies to bloom their beauty and fragrance like plum blossoms in the cold winter!"