Song Tao looked out the window at the brightly lit East Second Ring Road，Lighted up his last cigarette in this office，probably 10 months ago，He had a vague premonition that today might happen，But he obviously didn’t realize it，This day comes so quickly。

10 months ago，Ctrip and Qunar came together through capital operation。At that time，Song Tao, both internally and externally，The views expressed are “This is a game of capital，Mainly to avoid excessive consumption between the two companies in the price war，This is also the pressure brought by latecomers to the online travel industry”。

Song Tao realizes that this is a capital game，He deliberately avoided this core，But what he can’t avoid is，I am also in this capital whirlpool。In front of capital，Everything seems pale and feeble。

Starting in mid-2015，The capital winter is coming。Continues until today，It makes all entrepreneurs who burn money to attract users almost unable to breathe，Online travel startups with low gross profit 188bet sports betting app download margins feel particularly strongly。

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I have insomnia every night，I have insomnia every night，I don’t like smoking，Cigarette butts on the ground。Someone told me，You will never give me a penny，Someone left silently，Someone loudly accused me and left..."

We don’t know what Song Tao went through in the past，But judging from the current results，The online travel startup he founded has been dissolved，Accompanying him，There are only cigarette butts on the ground and street lights outside the window。

Song Tao is just a microcosm of many entrepreneurs，Since entering 2016，Many online travel companies have died。"Tao Zai Lu" wearing the Alibaba halo is one of them，Infatuated with burning money for expansion, it failed to survive after all。

Startups that “died” since 2016

Some time ago，“Where to Play on the Weekend” and “Take Me In”, which raised over 10 million, have ceased operations；"McDull Travel Network" is also suspected of running away，Although the platform issued three consecutive announcements to clarify，But in the end it ended with the relevant departments involved in the investigation；Earlier，The "Love Travel" team is disbanded、Official website closed，Although he has returned to the public eye recently，But it has become someone else’s company。

Otherwise，According to media reports，Travel Pay、Juzhai.com、Jiaya Travel Network、Looking for fun、Friday Travel Network、Dog Hiking、A large number of online travel entrepreneurial projects such as Na Travel Network have also been declared dead。

Is it because homogeneity makes it difficult for everyone to survive？Sina Technology discovered after sorting out，Dead 188bet online sports betting companies all have their own main businesses，There are big differences between each other，Therefore, the theory that homogeneity causes death is not valid。

According to the report of Analysys Think Tank，The transaction size of China’s online travel market reached 4737 in 2015.700 million yuan。Among them，Ctrip + Qunar’s market share reaches 63.9%，This does not include eLong’s share；Ali travels from 12.8% increased to 15.1%。With the expansion of the share of large companies，The market share of small companies will inevitably be squeezed。

Everything becomes powerless in front of capital

November 2015，Only one month has passed since the merger of Qunar，Ctrip has established a new peripheral tourism division，Introducing resource products for all surrounding travel scenarios，And conduct multi-department coordination、Linkage，Complete the establishment of Ctrip peripheral travel scene。In this way，Declaring the death of peripheral travel start-ups such as “Where to Go on the Weekend”。

Moreover，The destination marketing O2O model that Ctrip has been doing，It also drives companies like “Tao Zai Lu” into a corner。2016 to present，Ctrip has reached cooperation with many well-known destinations at home and abroad，And customize an integrated marketing plan for the destination。At this moment，There are only a few roads left for startups - Close、Transformation，You can’t survive the winter even if you try hard。

Big companies with deep pockets really make startups unable to fight back，We can only let it be crushed。

I have to mention that，Dead companies also have their own problems。The tourism industry belongs to the service industry，The service industry pays 188bet app most attention to the quality control ability of services。But in price competition、The fierce competition for users in the tourism industry，The only thing left is traffic and resources，No standardized service，Coupled with extremely low gross profit margin，It is difficult for these companies to survive。

Winter has arrived

From the second half of last year to now，The ongoing capital winter has made entrepreneurs feel the chill。

C round and subsequent C round financing (2015.8-2016.8）

According to incomplete statistics from Sina Technology，9 months from January to now，A total of 78 investment events occurred in the online travel field。Among them, 21 angel round investment events、A round starting from 40，The two account for 78.2%；There are only 6 investments in Series C and beyond，Only 7%.6%，Far lower than the proportion in other industries。

and，Tourism investment in the first half of the year was mainly in the order of millions and tens of millions of yuan，Judging from the amount, it is difficult to see the hot scene in 2014，Can’t help but make people sigh。

Sina Technology Discovery，Those companies that can overcome the "C round of death"，Most of them are backed by “big guys”，such as Alibaba、GGV、Matrix China、Sequoia Capital China, etc.。

Distribution of tourism entrepreneurship directions in 2016

Judging from the compiled data，The direction of tourism entrepreneurship in 2016 will mainly focus on outbound travel and accommodation and transportation bookings related to outbound travel，Accounting for up to 65%。Entrepreneurship based on the domestic tourism market has been marginalized，And entrepreneurship in this direction，It also mainly customizes special 188bet app tours to meet the needs of various vertical groups，Such as extreme sports theme、Gay themes, etc.。

“When it gets hot, it gets cold，This is the law of the market”，A VC partner said。

The capital winter can also calm down entrepreneurs，“There are two stages in starting a business，The first stage is from scratch，That is, from 0 to 1，At this stage，To meet functional requirements，For example, Edison invented the light bulb。The second stage is from existence to excellence，Once there are competitors in the market，You must be more cost-effective than your competitors，Otherwise you will be abandoned。Like the difference between energy-saving lamps and incandescent lamps。”Luo Zhun, the founder of “Take Me” once said。

2016，It’s tragic for online travel entrepreneurs，The cruelty of the market、The squeeze of the giant，Coupled with the wait-and-see attitude of capital，Life is really sad。

I wanted to give it up, but said it was a cool autumn.

Song Tao lowered his head and realized it，The cigarette between two fingers has burned to the filter after just a few puffs，Reluctantly put out the cigarette butt in the ashtray，Picked up the packed box，Turn off the office lights，Driving onto the brightly lit East Second Ring Road without looking back。(Due to the request of the interviewee，Song Tao is a pseudonym)

* This article is reproduced from Sina Technology.