As the largest shareholder in JD.COM, why should Ma Hua Teng support Pinduoduo? Isn't this a group struggle?

It is not surprising that Tencent voted for JD.COM first and then Pinduoduo. You can learn about the history of Tencent e-commerce and the current situation of Tencent's foreign investment.

1, e-commerce is the pain in Tencent's heart: Ma actually started to do e-commerce very early. After Taobao came out, Tencent also followed up and launched the pat network. During the period, I also acquired Yi Xun to strengthen my business, but it never improved much and was half dead. Tencent in e-commerce can be said to be a fiasco. In the end, Tencent chose JD.COM, which was the best e-commerce platform against Ali at that time. However, Tencent is obviously not satisfied with this. Since then, it has also invested in a series of e-commerce platforms in sub-sectors, such as Vipshop, Mushroom Street and Beauty Cosmetics. Obviously, Tencent wants to continue to deepen its cultivation in e-commerce. After all, competitor Ali's e-commerce system is already complete.

Support for Pinduoduo, besides continuing to deepen the field of e-commerce, is actually more meaningful. It is the rise of WeChat. Tencent wants to make full use of the advantages of WeChat to realize the rise of e-commerce, or to show its role. In fact, for Pinduoduo, Tencent was not the earliest investor, but joined with other investment institutions in the second round of financing, and the total amount was not much. The total amount of the three investment institutions is only $65,438 +0. 1 billion.

Later, everyone saw the explosive power of Pinduoduo, which not only reflected the uniqueness of Pinduoduo's own model, but also reflected the advantages of WeChat platform in e-commerce, and social e-commerce became famous all over the world. It was not until 20 18 that Pinduoduo's advantages began to be obvious, and Tencent increased its investment, and together with other institutions, it invested 3 billion US dollars.

2. Tencent's foreign investment model: After the 3Q War, Tencent basically changed all the original ways of playing and operating by itself and embarked on the road of opening to the outside world. Of course, this kind of openness is not really open, but more projects no longer play imitation. If you look good, you can take money, buy or invest directly. This method is not only beneficial to Tencent, but also beneficial to good entrepreneurs. Don't worry about your own field being copied by Tencent, and you can also get Tencent's upfront funds.

Tencent's foreign investment is actually casting a wide net. If it looks good, vote for it. Basically, you won't participate in the founder's operation and let others do it. Therefore, the initial investment in Pinduoduo is actually just one of Tencent's many ordinary investments. Look at many early investors, and the business development is good after 1 year. And this model is also beneficial to WeChat's social e-commerce. Ok, then do it! Maybe it will help!

I don't think JD.COM will care about this small-scale investment. The combined investment of the three institutions is 1. 1 billion, which is really not much. Direct 20 18, Pinduoduo's development is gratifying, and its explosive power is too strong. At this time, Tencent made additional investment, and a number of institutions invested 3 billion US dollars together.

Summary: Tencent should not think too much about Pinduoduo's early investment. I didn't expect it to be listed in three years. It just took a fancy to the innovation of e-commerce field and model, so it voted together. Being an ordinary member of Tencent's numerous investments in those years, I didn't expect Pinduoduo to be so fierce in his later period. So Pinduoduo and JD.COM are not infighting, but two companies invested by Tencent. In addition, investing in Tencent and investing in two competitors at the same time is actually quite a lot. This is essentially to ensure the maximization of your own interests and avoid letting your investment fail. I won't lose any money if you can become bigger and stronger. This may also be the cleverness of horses.

There is a story in history. Emperor Kangxi had two officials in charge of the world, Pearl and Suotuo. They have many disciples, and each government is controlled by two people.

Pearl was imprisoned for committing a crime. At the critical moment, the housekeeper bribed the jailer to see Pearl. "Now, sir, how do you think to save it?" Who can I ask for help? "

Mingzhu said, "Imitate the handwriting of Suoetu's protege and write more books about me for the emperor!"

The housekeeper felt that it was not bright and complete, but there was no other way. She did as Pearl told her. Soon, Pearl was released from prison!

When asked by the housekeeper, Pearl replied, "Since ancient times, emperors have always liked to fight with ministers, and ministers and ministers have fought to the death!" ! Soto and I have been fighting for many years. If I lose power, who will Soto fight? I asked you to write a passbook and join me by imitating his pupil's handwriting. The more the emperor feels that the demand map is strong, he will leave my name to contain him. "

I am not a worm in a horse's stomach, nor a senior member of Tencent. I have no friendship with the horse, and he despises me. There are some things we don't know, but we might as well guess. Digging out the truth from clues is actually quite fun.

Tencent's current business is very complicated, mainly composed of instant messaging systems, games, e-commerce and payment systems including QQ and WeChat. Other trivial things will be ignored.

The first two instant messaging systems, whether QQ or WeChat, are unmatched in China and have no decent competitors. Ali's nails can only be biased towards the corporate office market, and Ali Want Want is shrinking. Don't worry about this horse, Hua Teng.

Games, Netease has certain competitiveness, but it can't threaten Tencent. Tencent has a bonus of WeChat and QQ in this area, which is rock-solid. Ma Hua Teng need not worry.

Tencent is most worried about payment at present. Because instant messaging systems and games have encountered bottlenecks. Instant messaging system has no room for development. As long as it is a smart phone in China, it has basically been used, and there is no room for further growth. Game market share has reached the point of monopoly, and there is no room for growth.

Judging from the current layout, what Ma Hua Teng and Tencent do most is (WeChat) payment and the financial business behind it. This piece has great potential and the imagination space is unparalleled. Whether it is payment, lending, credit payment business, insurance, venture capital, etc. As long as (WeChat) payment can gain a firm foothold, Tencent can become a Shiwan enterprise with a solid foundation.

But at present, Tencent's payment business is relatively weak, especially its credit business, which is far from Alipay. For example, Alibaba Yu 'ebao, Huabai and Lending Bao are all developing in full swing, but Tencent, whether it is Tenpay, WeChat payment, QQ wallet, etc. , is still just a simple business, that is, the simplest payment business, collection, transfer, settlement. It is similar to swiping a bank card, and there is not much difference.

What does this mean?

In other words, Tencent's payment business only involves the receipt and payment itself, not the transaction process behind it. In other words, its payment business is not clear about the customer transaction details, nor can it grasp the capital flow and transaction process in the background, let alone the transaction itself. It doesn't participate in the transaction. This is the biggest gap between it and Alipay.

Alipay's participation in the transaction process, deep participation in the transaction process and deep participation in the supply chain transaction enable him to accurately grasp the funds and credit situation of users and merchants and make accurate judgments on the credit of customers. Therefore, Alipay can launch various credit services based on this, such as flower beds and borrowing services similar to credit cards. Tencent's micro-loan has only recently started trial operation.

Why? Because Tencent doesn't know the details of the transaction, it can't make a credit evaluation based on the transaction. To master this information, you must deeply participate in the transaction.

Let's talk about the relationship between Tencent and JD.COM. Tencent is indeed the largest shareholder of JD.COM, but who is the boss of JD.COM? Liu. This is no fool. JD.COM has also launched its own Jingdong Finance. He will not disclose transaction details and credit records to Tencent. In fact, JD Finance and Tencent's payment business are completely competitive.

In this case, only your own e-commerce platform is supported. But it seems that only Pinduo can rely on. So, if he doesn't support Pinduoduo, who can he support? HC？ It's too small. Suning.cn and Ali are closer. Vipshop may be an option.

So our answer should be clear. Tencent has no choice. Its most important business in the future is definitely finance and payment. To compete with Ali in this respect, you need your own e-commerce platform. This is an important reason why Ma fully supports Pinduoduo. But supporting JD.COM helped rival Baiwenhang. Whether he is so obedient or not, the horse still needs careful consideration. Alipay is Ma Yun's own, and Ali is Ma Yun's own.

Ma Hua Teng himself does not have a decent e-commerce platform.

PS:

Let's make another analogy. Although wechat payment seems to be very hot now, such as the vegetable market. But it's also a deal. Both of them spent 50 yuan. But WeChat doesn't know whether he bought food or fruit, low-grade fruit or high-grade fruit. It only knows that it cost 100 yuan. But AliPay knows. Combined with your purchase frequency, I can make a more accurate judgment on you. If you buy cherries, blueberries and Kobe beef every day, I know that you must have strong credit payment ability, and I will give you a high amount of flowers. On the contrary, if you buy potatoes every day and only buy discounted goods, then you may not even pay attention to applying for flowers. This is the biggest advantage of in-depth trading process. The real reason why WeChat payment is not as good as Alipay is here.

Tencent's investment in Pinduoduo is correct. No matter how many people criticize the fake goods and rubbish, the goods are really successful!

The combination of spelling and WeChat social software is really a perfect way to promote e-commerce.

The gap between the rich and the poor in China is widening, and things in Pinduoduo are really cheap. It faces a bad market and consumers who don't pay attention to the brand.

A really rich man doesn't need to wear any brand. People naturally know that he is rich.

The nouveau riche especially likes drying brands. When they are poor, no one can afford to support them. Once they have money, they want to be known by everyone.

The real poor have resigned themselves to fate anyway: I am poor, I have nothing to bask in, I buy whatever I need, and I am really alive. Brand? What does it have to do with me? I don't understand or care!

The reality in China is that there are indeed more poor people than rich people!

The poor don't care about Chanel, Armani and LV. . . They only care about the real goods, the quality is not too bad, as long as they can be used.

The gap between the rich and the poor will exist for a long time in any country, and it will get bigger and bigger!

Some sensible consumers will go to JD.COM Tmall to buy important things, and go to Taobao and Pinduoduo to buy unimportant things.

Small and medium sellers in Pinduoduo are also Taobao sellers. Small and medium-sized sellers have no living space on Taobao and can't make money, because Taobao won't give small sellers traffic. Even if the same goods are sold very cheaply, it is impossible for an honest man to sell goods without paying the bill. But Pinduoduo can, and small sellers will also give traffic opportunities.

So many small sellers in Taobao are willing to sell things cheaply.

In addition, there are many first-hand wholesalers in Pinduo. When they find that the sales volume is good, they order directly from the factory.

There are many sellers in Pinduoduo who sell stocks and the tail goods of big brands. Things are cheap, but the quality is good. If you find a few such sellers, you can buy big brand goods at ultra-low prices. Of course, they also sell them on Taobao. Because these sellers can't directly indicate the brand, they should be tested.

Pinduoduo is passive shopping. When a person has no idea of shopping, it is found that a person has sent a commodity to remind him whether to buy it, and his desire to buy it has increased.

Taobao is actively shopping, no one reminds him what to buy, and he has no desire to actively shop. Most people buy what they need.

For women, they like to buy them everywhere in buy buy. Once the shopping behavior is stimulated, they can't stop at all. I watched it on their mobile phones for a long time and bought it from buy buy! . . . .

For Tencent, it is an essential choice to enter the e-commerce business, but unfortunately, Tencent does not have the genes in this area and will never be able to build its own e-commerce system. Therefore, it also has a lot of investment in e-commerce. For example, when JD.COM was at its lowest ebb, Tencent invested in JD.COM. In addition to providing financial support to JD.COM, it also opened the first-level entrance of WeChat, becoming the largest shareholder of JD.COM, but even after it won the JD.COM.

Since Tencent already owns JD.COM, why should it invest in Pinduoduo? The reason for this is actually not complicated.

Tencent has always insisted on financial investment, and so has JD.COM. Although it is a major shareholder, it only exists as an investor, and the real decision-making power is still in Liu's hands. It can be said that interests are not divided, so Tencent still lacks security in the field of e-commerce.

It is safer to put all your eggs in two baskets than in one basket. So on 20 18 1 1, Tencent chose to invest in Pinduoduo and open the first-level menu of WeChat to Pinduoduo. In this way, no matter which company finally leads, Tencent has a certain share, which guarantees itself to the greatest extent.

For Tencent, which is particularly good at internal game competition, so is the foreign investment business. Tencent has no choice but to watch JD.COM and Pinduoduo compete with each other. After all, the domestic benchmark of Tencent is Ali, and it is hard to say who will pose a threat to Ali between JD.COM and Pinduoduo. From the development concept and style, there are obvious differences between the two companies. Meanwhile, JD.COM. COM's advantages in logistics and after-sales, as well as Pinduoduo's advantages in the number of users and sharing methods, so they voted for both and let them compete. In the end, no matter who is saved, Tencent can enjoy the success.

The reason for the initial investment in JD.COM is that it is the second largest e-commerce platform in China and the only one that can compete with Ali. However, the sudden emergence of Pinduoduo, with the help of social and e-commerce means, quickly achieved the fission of user scale, and became the third largest e-commerce apple in China in a short time, and its market value once surpassed that of JD.COM Group, forcing Tencent to pay more attention to him.

Let's take a look at Pinduoduo's 20 18 financial report. Last year, its transaction volume reached $344.8 billion, compared with $462 billion in JD.COM. But the problem is that Pinduoduo's growth rate is 386%, while JD.COM's. The growth rate of COM is 27.5%, a difference of more than ten times. At the same time, in terms of a very core element of e-commerce platform-user scale, Pinduoduo is 385 million, while JD.COM is 3.5%. Pinduoduo has greater development potential than JD.COM, which is not unrelated to the fact that foreign evaluation agencies believe that Pinduoduo will surpass Pinduoduo to become the second largest e-commerce platform in China in the next two years. Therefore, with such development potential, how can Tencent give up investment?

Horses have always done this, and it turns out that the advantages outweigh the disadvantages.

When QQ was in full swing, several departments within Tencent began to engage in mobile social products similar to WeChat. Of course, nothing else was done, and finally WeChat was killed. Since then, WeChat has led Tencent to triumph and head into the era of mobile Internet.

Ma invested in Pinduoduo. First of all, this is not an infighting, because it is not entirely Tencent's people, and Liu still keeps his promise. The main purpose of Tencent's investment in e-commerce is actually to make a profit. If it makes a profit by investing in JD.COM, it also makes a profit by investing in Pinduoduo. Who doesn't do profitable business?

The reason why Tencent loves the e-commerce field so much is actually another important reason for hating Ali, or it can be called containment. At that time, Tencent set up a pat network, but it was already half dead. Finally, it was taken over by JD.COM, and now it has disappeared. There is BAT on the Internet in China, but in fact, B, which is Baidu, lags behind Tencent and Ali, which is AT, and is no longer a level enterprise. A and T giants have always been eyeing each other, always wanting to eat from their own bowls and staring at each other's bowls. Tencent's e-commerce dream never dies, and Ali's social dream never dies. Both companies want to take a slice of each other's superior business and pull out a tooth from each other's teeth, but after all, their strength is equal, and their core business is too strong to be taken away so easily, so now neither side takes too much advantage of each other's business in the confrontation.

For Tencent, investing in e-commerce is really a win-win business. I have huge traffic, but I can't do it because of e-commerce. It is better to divert these traffic to the partner e-commerce to maximize the value of traffic. Therefore, Tencent is likely to invest in JD.COM, Pinduoduo and any new e-commerce companies in the future. After all, in order to prevent Ali from monopolizing the e-commerce field, it is necessary to have its own moat to stall Ali's retreat and block his offensive momentum, with the ultimate goal of preventing his core business from being eroded.

E-commerce is a serious injury to Tencent! Over the years, in order to balance Ali strategically, Tencent has spared no effort. If you are hungry, you can go from Paipai to JD.COM and then to Pinduoduo. This time, it finally gave a bad breath.

However, there are always two sides to everything, which will hurt Ali. JD.COM certainly has the closest pain, and he fully understands that his life is a chess piece. Many products are aggressive, which is likely to prompt Brother Qiang to visit Ma Yun and form a marriage. * * * will deal with many products. Mark's main business is socializing. He has no feelings, love or hate for e-commerce. It is entirely necessary for the struggle and can be adjusted at any time as needed.

Flowers still bloom every year, but they are different from year to year. Pinduoduo broke the lie that the pattern of e-commerce has been set, and shook Ali's invincible myth. The curtain has just opened, and the fun is yet to come!

This really answers the statement that there are no eternal enemies and friends in the world, only eternal interests.

First of all, let's understand the sentence of the topic owner, "Horse is the biggest shareholder …". What does this mean? That is to say. Horses are very important to me, but will JD.COM have a very important position in horses' hearts? I don't think anyone, including Liu, is sure of this answer.

Ma is a social entrepreneur. As long as he holds Tencent and WeChat, he holds the initiative of China social network. Even if he doesn't own any company, he can live a very good life, but JD.COM is different. What would JD.COM be like without Ma Hua Teng's holding? We can't help but imagine.

Ma can invest in Pinduoduo at the same time, which only shows that e-commerce is the field that Ma Zhen is about to conquer, and the meaning of drunkenness is not wine. Therefore, it is obvious that Ma did not invest in Pinduoduo for the sake of a bigger goal-Ali system. Therefore, although there is a competitive relationship with Pinduoduo, this competitive relationship is not worth worrying about Ma's determination to occupy a place in the field of e-commerce.

But don't worry, isn't the actual person in charge Liu? Even if Ma is the largest shareholder, he has no actual control right now, and Ma is not the only one who decides how to develop, so shopping malls, like battlefields, should be watched and cherished.

First of all, we can say that JD.COM and Pinduoduo belong to Tencent, but we can't say that they belong to Tencent Group, which is essentially different. It's just that all the "lines" appear from BAT.

Why did Ma invest instead of Pinduoduo? The real answer is only known to the parties themselves. We can find a few points from our own point of view from a logical point of view to see if it makes sense:

1. Investment can be divided into trend investment and value investment, but it can also be migrated. Tencent 14 shares in JD.COM. At that time, JD.COM had not made any money. This is a trend investment. 18 became the major shareholder of JD.COM and Pinduoduo invested by 16. At that time, Pinduoduo also made money, which was a trend investment. The time nodes are different. It is understandable that investors invest at different time points, even if there is overlap. The core is whether the future can bring actual investment value. At present, JD.COM has started to make money, although JD.COM has made a big adjustment in 19.

2. If the two companies only have overlapping businesses and Tencent is only an investor, I don't think everyone will be so confused. The main reason is Tencent's traffic, and they all benefit from Tencent's traffic port. So there's a problem. Originally, one child ate casually, and two children scrambled to eat. This is the source of doubt. Just like raising a child, you are a child and you are used to it. When you have two children, you will find that it's okay for him to cry back, and it's no big deal to bump. You even tell a disobedient person that if he doesn't listen, he will give all the good things to another. In this way, everyone will be more obedient than before.

3. As far as the specific business of JD.COM and Pinduoduo is concerned, they are leaders or pioneers in different business stages. JD。 COM's self-built warehouse provides a good shopping experience for online shopping, while Pinduoduo's social fission makes shopping play and experience by going up one flight of stairs. If Taobao is online shopping 1.0, Tmall and JD.COM are online shopping 2.0, and Pinduoduo stands for online shopping 3.0. They are different iterations, which do not conflict with investors' views and can bring expected returns. It can be expected that JD.COM will join more Pinduoduo games and Pinduoduo will bring more games.

On a larger scale, some people say that JD.COM corresponds to Tmall and Pinduoduo corresponds to Taobao, which seems reasonable, but the core of business is profit. When we talk about the sinking market, Pinduoduo's share in the sinking market is more important. Of course, should the countryside surround the city? Maybe, but is it because Tencent is easier to make some wars more peaceful? I don't know.

Does Tencent's largest shareholder know?

This is a big consortium in South Africa.

This consortium is particularly good at investing, and its investment style is obvious. It just doesn't want to invest, which means it will give you money and run by yourself.

Because of this, many competitors in the same industry can accept the investment of this company at the same time.

You ask, isn't this an infighting?

Excuse me, what do people invest for?

Just to make money!

Fight anyway! If you make money, Tencent is finished.