In recent years，"Mergers or alliances between rivals" are constantly happening in China's Internet circles，The drama from killing each other to falling in love，Shocking the industry。Mergers and acquisitions happen every year，There are so many this year！The Internet 188bet mobile login event broke out unprecedentedly in 2015，Big size、So many、Huge scale，Dazzling the industry。Explore the behind-the-scenes of this series of mergers of similar giants，On the one hand, it reflects the pursuit of maximizing profits by capital，The overbearing logic of promoting mergers at all costs；On the other hand, it is revealed that the new Internet economy has a natural love for monopoly，The alliance between the powerful is just succumbing to the free economy and attention economy。

This article counts the top ten mergers in China’s Internet history，Look at which competitors who “used to kill each other” have become allies in “Today’s Love”？What capital promoters are behind these major mergers？Internet 1+1Is the formula of 2 true？Strong combination of many similar terms，Can we rewrite the future pattern 188bet mobile login industry？

Youku+Tudou, with a current 188bet mobile login value of US.1 billion, belongs to the Alibaba family

Youku，Established in June 2006，Founder Gu Yongqiang，Listed on the 188bet mobile login York Stock Exchange on December 8, 2010。

Tudou.com，Established in April 2005，Founder Wang Wei，Listed on NASDAQ 188bet mobile login United States on August 17, 2011。

188bet mobile login plan: March 12, 2012，Youku Tudou announces 188bet mobile login through 100% share exchange。After 188bet mobile login，Youku and Tudou each hold 71 shares in the new company.5% and 28.5%，Tudou continues to operate as an independent brand；August 20, 2012，Youku Tudou Group was officially established，Tudou is about to be delisted from Nasdaq；August 6, 2015，Officially changed its name to Heyi Group。

The driving force behind: this "flash wedding" drama，It was planned by Fu Jixun, the representative of Tudou's major shareholder "GGV Capital" and Li Shimo, the representative of Youku's major shareholder "Becoming Fund"。As early as 2009-2011，Youku Tudou has contacted and negotiated many times with the help 188bet mobile login capital behind it，But no intention was reached。Potato was also listed on the market at a loss，As its investor，IDG (invested for 7 years)、GGV Capital (invested for 6 years)、Today’s capital (invested for 5 years) hopes to cash out quickly。

Ending after the 188bet mobile login: After the 188bet mobile login of Youku and Tudou，Once occupied the largest share of the online video market；But it’s a pity，The 188bet mobile login of the two failed to dominate the video market for a long time，iQiyi、LeTV、Sohu Video、The rise of Tencent Video and other new forces，The 188bet mobile login of the two giants did not produce double the synergy effect。October 16, 2015，Alibaba Group announced，will acquire Youku Tudou for over US.5 billion；If everything goes well，Youku Tudou can successfully achieve "privatization"，It may enter the domestic capital market in the future。

iQiyi+PPS，Currently valued at over US 188bet mobile login，Baidu system

iQiyi，188bet mobile login on January 6, 2010，188bet mobile login by Baidu Investment，Officially launched on April 22nd，Founder Gong Yu。

PPS，188bet mobile login in June 2005，Three co-founders Lei Liang、Zhang Hongyu、Xu Weifeng。

188bet mobile login plan: May 7, 2013，Baidu announced to 3.USD 700 million in cash to acquire PPS video business，And merge it with its subsidiary iQiyi。After 188bet mobile login，iQiyi CEO Gong Yu will serve as the new iQiyi company CEO，Responsible for the unified management of the new company。PPS founder Zhang Hongyu、Xu Weifeng serves as co-president，Continue to be responsible for PPS related business and the business development of the new company。The current valuation of iQiyi exceeds US billion。

The driving force behind the scenes: PPS has failed to IPO after multiple rounds of financing，Although it has already made profits, it is a drop 188bet mobile login bucket for the money-burning video website，Weighing multiple parties，Lianchuang Ceyuan、Qiming Venture Partners and other investors reached a consensus on selling PPS。188bet mobile login asset-heavy video industry，Capital operation has become a key bargaining chip 188bet mobile login reshuffle war，Since then，The trend of mergers and acquisitions and integration 188bet mobile login industry is rising。

Ending after 188bet mobile login: June 6, 2014，One year after iQiyi “married” PPS，The two video service brands "iQiyi" and "PPS" are unified into "iQiyi"；Non-video service brand，Businesses such as online games will continue to use the PPS brand for development。As video websites continue to be acquired，The video industry has entered the era of oligopoly competition。Gong Yu pointed out，Mergers and acquisitions are to increase market share and generate synergy effects，In the end, we all hope that 1+1 is greater than 2。The future video industry pattern may be divided into four parts，iQiyi (Baidu series)、Youku Tudou (Alibaba series)、Tencent Video (Tencent Series)、LeTV，In the end, the world became a BAT monopoly。

Sogou+Soso，Currently valued at over US billion，Belongs to 188bet mobile login system

Sogou，Started operation on August 3, 2004，Founder Wang Xiaochuan，Subsidiary of Sohu 188bet mobile login；August 9, 2010，Sogou is spun off to form an independent 188bet mobile login，And introduce strategic investment。

Soso，Started operation in March 2006，One of the main businesses of 188bet mobile login；April 2, 2010，188bet mobile login establishes SOSO search division；2014，Soso brand disappears。

188bet mobile login plan: September 16, 2013，Tencent invests in Sogou 4.USD 4.8 billion，And merge its Tencent Soso business and other related assets into Sogou，After the transaction is completed, Tencent will immediately obtain Sogou’s fully diluted 36.5% shares，The two major domestic search engines officially merged。December 2013，Tencent Soso officially launched Sogou search results page。Sogou’s current valuation exceeds US billion。

The driving force behind the scenes: It is reported，Baidu at that time、360、All three 188bet mobile login companies participated in the bidding for Sogou，They also had many rounds of secret talks with Sohu Zhang Chaoyang，Wang Xiaochuan finally convinced Zhang Chaoyang，Choose 188bet mobile login that fits Sogou’s culture，And successfully realized Sogou’s independent dream。Ma Huateng thinks，The search engine market pays special attention to economies of scale，Traffic scale and monetization ability are closely related。Soso competes with Sogou，It is better to increase the traffic together。

The ending after the 188bet mobile login: the combination of "Sogou + Soso"，In fact, Tencent has completely spun off its search-related business，“Bet” the future on Sogou。Ma Huateng said: “If we complement each other’s advantages，Add PC、Mobile phone linkage，The market share will also be more significant。”After the 188bet mobile login of Shuangsou，One-third of the world in the domestic search market，Baidu、New Sogou、360 (jokingly called search 3SB)，The one who secretly drinks hatred is none other than 360。The number of Sogou users exceeded 5 in 2015.200 million，This 188bet mobile login finally confirms what Ma Huateng said: "The monetization of search traffic 1+1 is indeed greater than 2"。

JD+Yixun，Current market value 37.8 billion US dollars，Belongs to 188bet mobile login system

JD.com，Established on June 18, 1998，Founder Liu Qiangdong，May 22, 2014，Listed on NASDAQ 188bet mobile login United States。

Yi Xun，Established in 2006，Founder Bu Guangqi，Acquired by 188bet mobile login for RMB 500 million in January 2012，80% of shares。

188bet mobile login plan: March 10, 2014，Tencent 2.USD 1.4 billion strategic investment in JD.com (accounting for 15% of shares)，And QQ online shopping、Paipai’s e-commerce and logistics departments merged into JD.com。Yixun continues to operate as an independent brand，JD.com will hold a minority stake in Yixun，At the same time, it holds all the exclusive subscription rights for its future (this is equivalent to JD.com’s ability to acquire Yi Xun at any time)。

The driving force behind the 188bet mobile login: It is reported that the driving force behind this 188bet mobile login is Hillhouse Capital，But the biggest winner is undoubtedly JD.com。Not only is there no direct competitor like Yi Xun，I also got a dowry from Tencent to come and pat me、QQ online shopping，From now on, JD.com has a dual concept of B2C+C2C，In addition, the Tencent portal also brings a certain increase in traffic，No matter how you look at it, it has improved the valuation of JD.com’s IPO in many aspects。

Ending after the 188bet mobile login: Yi Xun led by Bu Guangqi，With the support of Tencent，He once set up a "dog fighting command center" and shouted that "it is only a matter of time before we surpass JD.com"，Unexpectedly, it ended up becoming the wedding dress listed on JD.com。Today，This once ambitious B2C e-commerce company，We have reached the end of the road，Yixun.com has fallen。Tencent has temporarily removed the burden of “e-commerce”，In the future, "Brother Ma" may be able to acquire JD.com while talking and laughing。

188bet mobile login Literature + Shanda Literature，Currently valued at over US.5 billion，Belongs to 188bet mobile login system

188bet mobile login Literature，Established in September 2013，owned by 188bet mobile login，Independent operation in April 2014，CEO Wu Wenhui。

Shangda Literature，188bet mobile login in July 2008，under Shanda，Independent operation in February 2011，Created by former CEO Hou Xiaoqiang。

188bet mobile login plan: January 26, 2015，Tencent Literature and Shanda Literature merged to form "Yuewen Group"，China Literature Group will unify the management and operation of the original sub-brands，Including: QQ reading、Qidian Chinese website、Chuangshi Chinese website、Yunqi Academy、Xiaoxiang Academy、Red sleeves add fragrance、Novel Reading Network、CIIC Blog、华文天下, etc.。Personnel arrangements，Tencent Literature CEO Wu Wenhui and Shanda Literature CEO Liang Xiaodong will serve as co-CEOs。

The driving force behind the scenes: The team left at the starting point of experience、Frustration in listing、CEO Hou Xiaoqiang resigned、After two failed IPOs and other incidents，Chen Tianqiao is frustrated，Merge Shanda Literature and 188bet mobile login，Shanda Group can focus more on Internet investment；For 188bet mobile login, which has been laying out upstream IP for interactive entertainment，Whale Swallowing Shanda Literature not only greatly improves content productivity，It also surpassed Baidu in the online literature market in a second。

The outcome after the 188bet mobile login: Tencent Literature + Shanda Literature’s market share is nearly 70%，The future online literature market may grow from Shanda、Tencent、Baidu’s Three Kingdoms’ struggle for hegemony is heading toward Tencent’s dominance。Facing two teams of different natures，The first priority for Wu Wenhui and Liang Xiaodong is to reorganize the team and integrate the business，will be based on the online literature business in the future，Take advantage of its content reserves、Writer's works、Advantages such as cross-terminal products，With games、anime、More IP cooperation and linkage between film and television and other cross-industry pan-entertainment businesses。Will it be possible to achieve "1+1 greater than 2" in the future，And whether the huge market share will have an impact on the industry structure，All remains to be seen。

Didi+Kuaidi，Currently valued at nearly US.5 billion，Belongs to 188bet mobile login system + Alibaba system

Didi Taxi，Established on June 6, 2012，Founder Cheng Wei，Received 4 rounds of financing before the 188bet mobile login，The total amount exceeds 800 million US dollars。

Quick taxi，Established in May 2012，Founder Chen Weixing，Received 4 rounds of financing before the 188bet mobile login，Total amount 900 million US dollars。

188bet mobile login plan: February 14, 2015，Didi Dache and Kuaidi Dache announced their official 188bet mobile login through a 100% share exchange。After 188bet mobile login，The new company will implement the Co-CEO system，Didi Taxi CEO Cheng Wei、Lv Chuanwei, CEO of Kuaidi Taxi, also serves as co-CEO。The personnel structure of the two companies remains unchanged，Business continues to develop in parallel，will retain their respective brands and business independence。

The driving force behind the scenes: The 188bet mobile login is the strong expectation shared by all investors on both sides，Both parties are optimistic about the mobile travel market，Vicious、Large scale、Competition that continues to burn money is unsustainable，Can avoid greater time cost and opportunity cost，The new company can immediately accelerate the development of many new businesses。

Situation after the 188bet mobile login: Didi Kuaishou successfully occupied more than 70% of the market share in China’s travel industry after the 188bet mobile login，China’s leading position in travel industry is stable。Officially renamed Didi Chuxing in September，Become a covered taxi、Special car、Express、Hitchhiking、A one-stop travel platform including driving services, buses and other services。After receiving a new round of financing of US billion，Didi’s international strategic expansion has also begun to take shape，In the future, there may be fierce competition with Uber on a global scale。It is reported，Didi Chuxing aims to be a comprehensive entrance to mobile travel、Super APP for life O2O。

58 city+ganji.com，Currently valued at US billion，Belongs to 188bet mobile login system

58 188bet mobile login same city，Established in December 2005，Founder Yao Jinbo，October 31, 2013，Listed on the New York Stock Exchange。

ganji.com，Established in March 2005，Founder Yang Haoyong，Ganji.com plans to go public 188bet mobile login United States in 2012，On hold due to the divorce controversy of CEO Yang Haoran。

188bet mobile login plan: April 17, 2015，58.com and Ganji.com reached a strategic 188bet mobile login agreement。58.com will acquire Ganji.com 43 in cash and stocks.2% shares，The specific consideration is 34 million ordinary shares (17 million ADS) and 4.US.2 billion in cash。Both parties continue to manage the two brands independently，Appropriate differentiation in positioning，Yao Jinbo and Yang Haoyong serve as co-CEOs，Enable "dual CEO mode"，New company valued at US billion。

The driving force behind the scenes: the “matchmaker” who ultimately facilitated the 188bet mobile login between the two parties，It is the China Renaissance M&A team led by Bao Fan, who is known as the "M&A professional"。Ganji.com will realize its dream of going public through the 188bet mobile login with 58.com，The Lanchi Venture Capital behind it、Sequoia Capital、Tiger Fund and other 6 investment institutions received exit opportunities。But according to the consistent style of Capital Today and Sequoia Capital，For such a unicorn company，Most likely long-term holding，Continue to enjoy the benefits of high growth。

Situation after the 188bet mobile login: There is currently no large loss of founders and management teams of both parties in 58 Ganji，This is different from other mergers where management quickly left and was eliminated。Both parties have different priorities in specific business directions，58 Focus on Home、Real Estate，Go to the market to focus on recruitment、Used car；In addition，There are endless possibilities for both parties to develop their businesses independently and have unlimited needs。Both Yao Jinbo and Yang Haoyong expressed，After the 188bet mobile login of the two parties, a large amount of market investment will be saved every year，And the cost of competing in the channel，The money will be invested in the development of innovative businesses。

Ctrip+Elong，Current 188bet mobile login value 13.1 billion US dollars，Baidu system

Ctrip，Established in October 1999，Founder Liang Jianzhang，December 10, 2003，Listed on NASDAQ 188bet mobile login United States。

yilong.com，Established in May 1999，Founder Tang Yue，October 28, 2004，Listed on NASDAQ 188bet mobile login United States。

188bet mobile login plan: May 22, 2015，Ctrip announced that it has made a strategic investment in eLong by purchasing part of the equity held by Expedia。It is reported，Ctrip and several other investors participated in the purchase of eLong shares held by Expedia。where，Ctrip invested approximately US0 million，Holding Yilong 37.6% equity，Become the largest shareholder of the latter。

The driving force behind the scenes: as early as a year or two ago，ELong faces declining performance，Expedia wants to get rid of this hot potato。Elong is not a high-quality asset，Weak business growth、The failure is complete，But Ctrip still paid a premium of 100% to acquire at a high valuation，It’s nothing more than trying to maintain a monopoly 188bet mobile login online travel market，Acquire absolute right to speak。

Ending after the 188bet mobile login: After the 188bet mobile login，Both parties still remain independent anyway，But jump out of the price war，Ctrip and eLong’s current situation of losses is expected to change。In addition，Liang Jianzhang parachuted Ctrip executive Jiang Hao to eLong as CEO，Privatization offer issued by Tencent in August，Acquisition of all public shareholder shares of eLong。Ctrip successfully acquired competitors，The most important thing to consider in the future is how to increase business coverage，Seize more market share。

Meituan+Dianping，Currently valued at US billion，Belongs to Alibaba + 188bet mobile login system

Meituan was founded in March 2010 by its founder Wang Xing.

Dianping，188bet mobile login in April 2003，Founder Zhang Tao。

188bet mobile login plan: October 8, 2015，Meituan and Dianping announced a strategic cooperation，The two parties have jointly established a new company (valued at US billion)。The new company will implement a joint CEO system，Meituan CEO Wang Xing and Dianping CEO Zhang Tao serve as co-CEOs and co-chairmen；The personnel structure of the two companies remains unchanged，will retain their respective brands and businesses to operate independently，Including high-frequency in-store business based on group purchases and flash offers。Meituan、Existing shareholders of Dianping will inject their interests into the newly formed overseas company (still adopting a VIE structure)，The ratio is roughly 5:5。

The driving force behind: This 188bet mobile login follows the "Didi Kuai 188bet mobile login case"，Alibaba and Tencent come together again，But Sequoia Shen Nanpeng is the strongest promoter behind it。It is reported，The new company after the 188bet mobile login of Meituan and Dianping，Sequoia Capital will become the largest shareholder，More shares than Alibaba and Tencent。As Bao Fan, who like Shen Nanpeng has invested in Meituan and Dianping, he has also contributed a lot，China Renaissance serves as the financial advisor for this 188bet mobile login。

Outcome after the 188bet mobile login: Dianping’s business focus after the 188bet mobile login is low frequency、High customer unit price business，Like a wedding、Exhibitions, etc.，No longer participate in high frequency、Price war in the field of low customer unit price、Subsidy War。Although after the 188bet mobile login of the two companies，The relationship between each other as opponents no longer exists，But the long-term pressure that suppresses the revenue and profitability of the two companies has not disappeared，That is, the strategic value of O2O in BAT’s reconstruction of the future Internet business landscape will always exist，This means that price wars will follow for a long time。The 188bet mobile login just started，The future is still unknown。

Ctrip+Qunar，The current total market value 188bet mobile login two is about 18.7 billion，Baidu system

Ctrip，Established in October 1999，Founder Liang Jianzhang，December 10, 2003，Listed on NASDAQ 188bet mobile login United States。

Where to go，Established in February 2005，Founder Zhuang Chenchao，November 1, 2013，Qunar listed on the 188bet mobile login York Stock Exchange。

188bet mobile login plan: October 26, 2015，Ctrip announced an equity swap deal with Baidu。After transaction is completed，Baidu will own Ctrip common shares representing approximately 25% of Ctrip’s total voting rights，Ctrip will own approximately 45% of the total voting rights of Qunar。After 188bet mobile login，Qunar continues to operate as an independent listed company，Baidu becomes one of Ctrip shareholders，Comprehensive cooperation on travel-related products will be launched in multiple fields in the future。

The driving force behind: this 188bet mobile login，Baidu has become the recognized biggest winner，And GGV Capital (which participated in the 188bet mobile login of Youku and Tudou in 2013) is the matchmaker behind the 188bet mobile login of Ctrip and Qunar。It is reported，When Baidu invested over US0 million in Qunar in 2011，Fu Jixun, managing partner of GGV Capital, is the main promoter。Baidu has been coveting Ctrip for a long time，Ctrip is also eyeing Qunar，So this 188bet mobile login was a success with the help of GGV Capital。

Ending after the 188bet mobile login: Ctrip said，Qunar will continue to operate as an independent listed company in the future，Competing with Ctrip in the online travel market，Create differentiated products and value for travelers；Qunar.com name，The future independent development plan remains unchanged，Negotiate with Ctrip on the collaboration/competition mechanism of both companies，Each of them selected and strengthened their main markets。Although the announcement did not mention the arrangements of Zhuang Chenchao and other Qunar executives，But Zhuang Chen went too far，Ctrip’s takeover may have a happy ending，Someone cashed out and landed，Someone takes over as expected，Continue to unify the world。

Conclusion:Behind this series of major mergers，BAT Phantom appears frequently，188bet mobile login stands out，Alibaba system and Baidu system are equal。Driven by market competition and interests，Internet industry giants are accelerating the shift from "competition among heroes" to "marriage and mergers"，The trend of industry reshuffle is becoming increasingly obvious，Especially under the influence of the “Capital Winter Theory” in 2015，It is better to hold together for warmth than to lose each other。