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Dianping.com and meituan today jointly issued a statement, announced a strategic cooperation, the two sides have jointly set up a new company. The transaction has been the strong support of Alibaba, Tencent, Sequoia, shareholders of both, Huaxing capital served as exclusive financial advisor to the parties to the transaction. Foreign media reported that the deal will set up a $15 billion valuation business covers restaurant reviews, movie ordering and other local services. The new company will be the implementation of the Co-CEO system, the U.S. group CEO Wang Xing (micro-blog) and public comment CEO Zhang Tao will also serve as CO CEO and co chairman, major decisions will be completed in the joint CEO and board level.
The two companies remained unchanged in the personnel structure, and will retain their brands and businesses operate independently, including high frequency to store business, will also strengthen complementary advantages and strategic cooperation, promote industry upgrading. The public comment CEO Zhang Tao said: "over the years the two companies competition also differentiated, help 1000 million businesses and 10 million consumers, is the common pursuit of the two teams, cooperation is the trend of the times, is a common choice of the two teams. O2o industry prospects enormous, cooperation, we will give full play to their own advantages, accelerate product innovation, deepen trade services and expand the pace of, to consumers and businesses create more value, to promote the construction of o2o ecosystem, and promote the development of the industry. "
The U.S. Group CEO Wang Xing said: "very happy can cooperate with the public comment, which let us to have more energy to consumers and businesses to provide better service in the field of o2o, also have more energy to open up new business and product innovation. Cooperation in line with the expectations of both teams and investors, cooperation will produce a chemical reaction, I have a good future to create a good future full of confidence. After graduating from Tsinghua University in 2001, Wang Xing entered the University of Delaware to continue to study, only two years after Wang Xing interrupted their studies, returned home to start a business. "A lot of friends", "wandering figure" and so on several small products failed and did not let Wang Xing abandoned entrepreneurial dream, but Xiaonei, rice, domestic also is not successful, which makes him is industry jokingly referred to as "the worst serial entrepreneur. Then the serial entrepreneur who moved to e-commerce, in Wang Xing view: "entrepreneurship is the most interesting place, is to do something in the past have not done, more important is business to do something the user needs."
March 4, 2010, the United States formally launched the group. Followed by domestic group buys a website to have emerged: March 14, Wowo group on-line; March 15, F group on-line; March 16, handle buy online line... Even buy navigation site also soon appear. This led to a capital carnival, shake hands, glutinous rice, F group have completed more than one million dollars in A round of financing, which means that competitors can be faster market promotion and ground expansion. In September 2010, U.S. Sequoia capital invested $20 million A round of investment. The mission of the second round of financing also started in 2011, completed by the Alibaba lead investor B round of financing totaling $50 million. In the United States after the end of the second round of financing, group purchase industry usher in a turning point, a large number of group purchase website began layoffs, closed. 2012 is a year, U.S. corporations do not have to open up a new city, but in November 2012 achieve first monthly profit, occupy the buy more than 40% of the industry's market share at the same time, firmly sitting in the industry to buy head to the chair.
Cat's movie is a perfect model, so this independent film app more users can query the information of film through its, seat selection and orders to pay, to the cinema site to use automatic ticket machine to print tickets for the film. Data show that in 2013, cat movie sold 60 million tickets, accounting for 10% of the number of votes. A message is displayed on to the movies, hotels and takeaway and other vertical areas, is a strategic transformation of America group. This King Hing explain, if the U.S. Group buy as a platform of the horizontal line, then opal film, hotel, takeaway is a vertical depth of field of a vertical bar, which is called "t" strategy.
The two companies remained unchanged in the personnel structure, and will retain their brands and businesses operate independently, including high frequency to store business, will also strengthen complementary advantages and strategic cooperation, promote industry upgrading. The public comment CEO Zhang Tao said: "over the years the two companies competition also differentiated, help 1000 million businesses and 10 million consumers, is the common pursuit of the two teams, cooperation is the trend of the times, is a common choice of the two teams. O2o industry prospects enormous, cooperation, we will give full play to their own advantages, accelerate product innovation, deepen trade services and expand the pace of, to consumers and businesses create more value, to promote the construction of o2o ecosystem, and promote the development of the industry. "
The U.S. Group CEO Wang Xing said: "very happy can cooperate with the public comment, which let us to have more energy to consumers and businesses to provide better service in the field of o2o, also have more energy to open up new business and product innovation. Cooperation in line with the expectations of both teams and investors, cooperation will produce a chemical reaction, I have a good future to create a good future full of confidence. After graduating from Tsinghua University in 2001, Wang Xing entered the University of Delaware to continue to study, only two years after Wang Xing interrupted their studies, returned home to start a business. "A lot of friends", "wandering figure" and so on several small products failed and did not let Wang Xing abandoned entrepreneurial dream, but Xiaonei, rice, domestic also is not successful, which makes him is industry jokingly referred to as "the worst serial entrepreneur. Then the serial entrepreneur who moved to e-commerce, in Wang Xing view: "entrepreneurship is the most interesting place, is to do something in the past have not done, more important is business to do something the user needs."
March 4, 2010, the United States formally launched the group. Followed by domestic group buys a website to have emerged: March 14, Wowo group on-line; March 15, F group on-line; March 16, handle buy online line... Even buy navigation site also soon appear. This led to a capital carnival, shake hands, glutinous rice, F group have completed more than one million dollars in A round of financing, which means that competitors can be faster market promotion and ground expansion. In September 2010, U.S. Sequoia capital invested $20 million A round of investment. The mission of the second round of financing also started in 2011, completed by the Alibaba lead investor B round of financing totaling $50 million. In the United States after the end of the second round of financing, group purchase industry usher in a turning point, a large number of group purchase website began layoffs, closed. 2012 is a year, U.S. corporations do not have to open up a new city, but in November 2012 achieve first monthly profit, occupy the buy more than 40% of the industry's market share at the same time, firmly sitting in the industry to buy head to the chair.
Cat's movie is a perfect model, so this independent film app more users can query the information of film through its, seat selection and orders to pay, to the cinema site to use automatic ticket machine to print tickets for the film. Data show that in 2013, cat movie sold 60 million tickets, accounting for 10% of the number of votes. A message is displayed on to the movies, hotels and takeaway and other vertical areas, is a strategic transformation of America group. This King Hing explain, if the U.S. Group buy as a platform of the horizontal line, then opal film, hotel, takeaway is a vertical depth of field of a vertical bar, which is called "t" strategy.