Public comment network and the U.S. mission network jointly issued a statement today, announced a strategic cooperation, the two sides have jointly set up a new company. The transaction was supported by Alibaba, Tencent, Sequoia and other shareholders of both sides, Huaxing capital as exclusive financial advisor to both sides of the transaction. Foreign media reported that the transaction will be set up to set up a valuation of $15 billion, covering the business of restaurant reviews, film ordering and other local services. The new company will implement the Co-CEO system, the United States Mission CEO Wang Xing (micro-blog) and public comment CEO will serve as CO CEO and co chairman, major decisions will be completed at the joint CEO and board level.
The two companies remain unchanged in the personnel structure, and will retain its own brand and business operations, including high-frequency to store business, while strengthening the complementary advantages and strategic synergies, and promote the upgrading of the industry. The public comment CEO Zhang Tao said: "in the past two years the competition also has the difference, help the 10 million merchant services 1 billion consumers, two team is the common pursuit of cooperation is the common choice of two is to represent the general trend, the team. O2O industry outlook is very great, the cooperation we will play their respective advantages, expand the pace of product innovation, and deepen the service industry, to create more value to consumers and businesses, and promote the construction of the O2O ecosystem, promote the development of the industry."
American CEO Wang Xing said: "very happy to cooperate with the public comment, this can let us in the field of O2O have more energy to consumers and businesses to provide better service, but also have more energy to develop new business and product innovation. Cooperation in line with the expectations of both sides of the team and investors, after the cooperation will produce a chemical reaction, I am working together to create a bright future full of confidence. After graduating from Tsinghua University in 2001, Wang Xing entered the University of Delaware to continue to study, just two years after Wang interrupted his studies, return to business. "A lot of friends", "wandering" and several other small product failure did not let Wang give up the dream of entrepreneurship, but the school network, Fanfou, home also is not successful, so he was nicknamed "the worst of the industry for entrepreneurs". Then the continuous entrepreneur fought e-commerce, Wang Xing seems: entrepreneurship is the most interesting place, is always going to do something in the past did not do, but more importantly, to do business needs of users."
March 4, 2010, the United States formally launched. Followed by domestic buy site have emerged: in March 14th, Wo Wo Group on line; in March 15th, F group on the line; in March 16th, buy online...... Even buy navigation site will soon appear. This led to a capital carnival, handle, glutinous rice, F group have completed more than one million U.S. dollars A round of financing, which means that competitors can be more rapid marketing and ground expansion. September 2010, the U.S. group received Sequoia capital invested $20 million A round of investment. The second round of financing the United States mission also started in 2011, completed the B round of financing led by Alibaba investment, a total of $50 million. After the end of the second round of the U.S. group financing, buy the industry ushered in the inflection point, a large number of buy site began layoffs, closed. 2012 year, the United States did not open up a new group of cities, but in the first monthly profit in November 2012, while occupying more than 40% of the market share of the group buying industry, firmly sitting in the top spot in the group buying industry.
Cat's eye film is a great model, this independent film APP allows more users to query the film information through it, pre seat single payment, to the scene of the scene and then use automatic ticket printing machine ticket. Data show that in 2013, cat's eye movie sold 60 million movie 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 Wang explained that if the line of U.S. group purchase as a platform, then the opal film, hotel, takeaway is a deep vertical line, which is known as the "T strategy".
Wang Xing hopes the United States mission through the vertical field, the market segments of the deep, out of the extensive growth in the field of horizontal and vicious competition, so as to find a new growth point for the development of enterprises. Wang Xing, who has always had a sense of crisis, said, "the world is changing faster and faster. If you think you can sit back and relax at a certain time, you are not far away from death." April 2003, the public comment was established in Shanghai. Initial public comment only a city in Shanghai, a year after the opening of the two stations in Beijing and Hangzhou, and the real landing in these two cities have to wait until 2005 and 2006. 2005 public comment began commercial attempts, but not successful. 2006 public comment received the first financing, investors Sequoia capital. After obtaining the public comment is still maintaining a slow pace of development, has come to buy tide.
June 2010, the public comment on the official launch of the group buying business, slower than the U.S. group under Wang Xingqi three months. Mobile Internet, buy, local life service platform, the public comment on the top of these concepts in April 2011 announced the acquisition of the letter from the letter capital, Sequoia Capital, Qiming venture capital, venture capital financing $100 million light. August 2012, the public comment also announced no less than the valuation of the previous round of financing from existing investors $64 million financing. Then buy the industry's capital winter, but the public comment has been recognized by the outside world. Part of the reason is that in the era of buying into the left behind, the public comment has firmly occupied the position of the industry second.