The Entrepreneurial Environment Will Tend To Cool Down In Rational O2O.

Over the past few years, the start-up companies in the whole country have been surging and surging. After fierce competition in the market, many companies have fallen down, and some companies have survived. What kind of market tests have they gone through and how are their living environments returning?

Reporters conducted a survey, taking Beijing Zhongguancun Venture Street as the main concern, selected typical companies from the industry, interviewed the industry, trying to sort out the track of the entrepreneurial group, and its development logic and trend.

58 the same city and Ganji network, the US group and the public comment, Ctrip and go where, century Jiayuan and Lily nets, micro ticket children and Guevara, mergers and acquisitions integration throughout the Internet industry in 2015, and was written in January 2016.

In January 11th, mogujie.com and Mei said that the merger was announced through internal mail. In January 19th, the US group and the public comment after the "fit" announced that the newly established company had completed the first round of financing of over $3 billion 300 million.

After many interviews, the reporter learned that in 2016, the overall environment for the development of start-ups will not change much. There are few opportunities for O2O and other pan consumption areas. Innovative projects with certain technical barriers will be the trend of entrepreneurship.

CB Insights and KPMG (KPMG) jointly released the 2015 Global

The report (hereinafter referred to as the "report") shows that in 2015, global venture capital reached US $128 billion 600 million, an increase of 44% over the same period last year.

Investment in the first three quarters was very active and the temperature dropped sharply in the fourth quarter.

Among them, the large scale venture capital paction with a scale of more than 100 million US dollars in the fourth quarter was only 38, compared with the 72 in the three quarter, the number declined significantly.

"Financing was easy at that time. It was a project that could come out and change money.

Capital side is also very panic, feel afraid to grab, there is such a game relationship, entrepreneurs feel easy to get money. "

Saif Asia partners Wang Qiule mentioned at a summit that the overall financing environment of the first tier market in 2015 was not bad.

In fact, from the end of 2015 to January 2016, all kinds of conference fever of the venture capital circle will not be reduced.

For example, the daily economic news reporter noted at the morning of the first day of the 2015 entrepreneurship community meeting that the staff members at the gate of the venue were guarded by the principle of "one go in and one go".

When the award for investors of "Black Knight" was preheated on the stage, there were cheers from different directions from time to time. The scenes were somewhat like fans' meeting of stars.

Wang Feiqin, vice president of 3W group and 3W space CEO, told reporters that in the 3W space BP (business plan) and the data introduced by the project, the capital cold winter has brought certain influence. However, the appearance of the bubble is too much for the industry, rather than the so-called cold winter, it is better than the process of squeezing the bubble.

And Wang Qiule analysis said that the change in the two level market in 2015, objectively also stimulated the first level market, the capital industry generally has an overreaction, and is still at a low point.

Generally speaking, it is still prudent. It is still looking at projects, but less investment will eventually return to the usual investment status and investment rhythm.

By the two or three quarter of 2016, the primary financing market can do a certain degree of callback.

Once the callback is made, the pace of investment will be faster than that of the outside world.

Overall, the environment faced by entrepreneurs in 2016 must not be compared with the first half of 2015, but it will be more relaxed than in the second half of 2015.

In January 19th, the US group unveiled the new company financing jointly established by the public comment. Its initial financing amount exceeded US $3 billion 300 million, setting the highest record of private sector financing in China's Internet industry and the largest O2O financing in the world.

In an interview with reporters, Wang Qiule said that China's one or two tier market was merged.

The situation has been happening, especially in 2015, because the merger in 2015 was characterized by the dramatic merger of highly competitive rivals, and all of them took place in the widely watched and controversial sub sectors.

However, the market competition still exists when the giants are up, because China's market is big enough, there are always many people doing it and there must be competition.

It is worth noting that Wang Qiule referred to the differences between Chinese and American market mergers and acquisitions.

The Chinese market is in the opposite direction. In 2015, the real economy was not good, and the two tier market fluctuated violently. Under such circumstances, many Internet Co merged.

The reason is that vicious competition and vicious subsidies are not sustainable, enterprises themselves have no motivation, external resources are not much, and capital efficiency is not reasonable. Mergers and acquisitions among giants have become a natural phenomenon.

For SMEs and start-ups, Wang Feiqin believes that we need to redefine the definition of entrepreneurial success.

Listing is not the only option. If the product and technology can promote the change of the existing industry, the choice of merger and acquisition can also reflect the value.

"China's economy is facing structural changes, relying on business models for simple subversion, especially in the field of Pan consumption, there are still opportunities for investment, but there are not many big opportunities and big subversion, so the difficulty of catching opportunities will be bigger and bigger."

Wang Qiule said that not everything can be Internet based to improve efficiency, reduce costs and achieve maximum scale.

So now the O2O boom will cool down.