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360 listing by lawsuits bathing
2010 年 11 月 04 日 18:55 Bei Guo Net

the latest news from the financial sector in Hong Kong: Hong Zhou a few days ago, that is, in person in late October Visit to Hong Kong investment banking sector, market expectations of 360 as soon as possible, but many investment banks are refusing to meet with the week.

unnamed investment bank executives said Hong Kong: 360 short term the market may be small. This means that 360 is likely their directors in this difficult dilemma, whether from exhaustion.

360 Why are not optimistic about the investment bank?

First, the 360 security guards get involved in too many lawsuits. Since the creation of 05 start,Air Force 1 Classic Low, respectively, Rising, Alibaba, anti-malware software alliance, Jinshan,nike air force one low, Baidu, Tencent and other companies sued 360. This listing will bring too many problems, particularly with the overseas listed company specialized lawsuit are making money by the professional legal bodies, in their eyes, once the 360 listed, will be a big fat block. Processing time required for these lawsuits and complicated process, the investment bank that too risky.

another key point: the United States and Hong Kong investment bank sector and Tencent, Baidu, Alibaba China, the three largest listed companies have business dealings, even heavily loaded with. With the 360 which had three lawsuits. Therefore, the investment banking sector is certainly not like the 360 that \

Second, Hong Zhou himself overseas investors have been \A typical event is a grudge with Yahoo. Hong Zhou 03 at the end of 3721 created the hand, that is, the father of China's rogue software, sold to Yahoo, and served as general manager of Yahoo China. Hong Zhou was suspected of theft but later Yahoo search technology, and Yahoo founder Jerry Yang Emirates enemies, be dismissed out. Hong Zhou was founded in 360, then proceed to attack Yahoo China, which become enemies with Alibaba. At the time, Alibaba China issued a document called the network industry is not with the \

key point is: that Hong Zhou financing for business again, Jerry Yang personally inform the United States, venture capitalists do not believe this came from China's \At that time the Chinese media sector has been widely reported. Allegedly, at 360, so the amount of the valuation and financing has shrunk dramatically.

third, 360 of income, but no business model, which is the lack of public need \

360 revenue of about 3 billion yuan this year, but more than 95% from 360 browsers, specifically: the flow through the browser for distribution to third-party sites, such as online games and shopping site, as to earn split. This is listed in terms of a three defects:

1. No unique revenue model. Split the way the Internet is widespread, such as the income is 360 times the Thunder and Storm, have been unable to market.

2. do not own the capacity of blood, but relying solely on third party sites split. 360 before 20% of the revenue from Baidu, but after Baidu with 360 Cheng Chou, this part of the revenue will quickly zero. Currently, 360 more than 40% of revenues from the shopping Taobao split, but with the 360 before Ali Group had a \This is a time bomb. Hong Zhou Ma let go before the words: do not get mad years later. This statement must have also heard Ma. Not fail to report, time has not yet.

3. income is too dependent on the browser, not the 360 main security software. Once the browser run by his opponent, this income immediately neutralized.

360 at this point why the market?

first, 360 to their own needs. 360 odd tiger

from inception to the present has been 5 years, close to 3-5 years of venture capital arbitrage psychological withdrawal period. 360 finance 30 million dollars before, is preparing for listing. These 5 years, Baidu, Alibaba, surf and other companies have been listed, they continue to lure them away with attractive options in the industry elite employees. To this end, 360 had been promised benefits for greater strength, that is, with a larger amount of options and bonuses for the conditions to attract the elite to join. Allegedly, the general staff of the shares held in about 12%.

market longer delay, these employees disappointment, stress, and instability will inevitably increase.

most important thing is, when the growing awareness of Baidu and Tencent to 360, when they must we onslaught has begun to speed up the defense of 360. Before the court Baidu to 360, and attempted to purchase Kingsoft and Rising direct confrontation with the 360, now Baidu has started research and development client, and 360 security guards to get the client directly counter positions. Tencent is no exception, in a few months ago launched QQ computer housekeeper, a large area over 360 sites.

even strongman Hong Zhou, and can not fight with both Baidu and Tencent and get out. Therefore, we must as soon as possible.

Second, the attack on Tencent's needs.

360 offensive Tencent and requires a lot of public relations fees, get the media to employ network thugs. Reported previously, 360 public relations and promotion of the annual fee in the 30 million or more,nike air force one mid, and once war, public relations fees will be doubled, which is less than 1 million annual profit of 360 is a huge cost pressure. Once the formal exchange of fire with Tencent
,air force 1, but also a large number of servers, bandwidth, and a series of technology spending, the cost, does not cap, Tencent depends entirely on how much \

most important is not the above 2 points, but: Tencent Once back, probably by the hands of groups such as QQ, and Qzone clusters and a large flow of products, against 360 and the flow of their browser. First, directly to the user to select uninstall 360; Second,air force one, direct blow to the browser 360. This would instantly reduce or even wipe out the flow of the browser 360, along with the collapse of their income at any time.

360 per month once the 25 million yuan of income dried up,nike air force one, it can only rely on external blood transfusion. But, who wants to give a blood transfusion at war with many Internet companies, and is facing life and death of a war, discredited company? More importantly, the market has basically blocked the road, no one knows, no cash to lend to 360 of the absolute. Chinese saying is: not a panacea for poverty.

here is difficult to explain 360 listed under a new variable: the concept of market and income not only need more growth curve. Thunder previously listed in the 2008 plan was abruptly halted because of its stagnant growth, investment banking sector do not see the future. The counter will begin Tencent will certainly weaken the 360's income; want listed at this time, blood transfusion, impossible.

looks smoky battlefield, unpredictable situation, and if you put aside the details, from the bigger picture, the result might have been doomed. Justice has Well
Reprinted from: 360 wasted because of lawsuits listing _XCAR _ Shenzhen Automobile Forum Automobile Club of love card

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