Tencent has two ultimate weapons, QQ and WeChat. QQ is the social leader of PC Internet, and WeChat is the social leader of mobile Internet. The number of independent devices on WeChat is11500,000, ranking first, and QQ is 690 million, ranking fourth. Mobile phones Taobao and Alipay are 706 million and 705 million respectively. The number of devices on WeChat is much higher than that of mobile phones Taobao and Alipay.
WeChat is not only higher than Alibaba's Taobao and Alipay in absolute quantity, but also has a more stable market position. After all, WeChat is an acquaintance social interaction, and users are strongly related. I can't communicate with a social software that others don't use. The cost of user migration is quite high, because your colleagues, friends, family, classmates, partners and other social relationships are all on WeChat. Wechat is not a simple communication software, but our entire social network.
So once formed, it must be an absolute monopoly position, and there will be no living space for the second child and the third child. Momo once challenged WeChat, but in the end he couldn't shake WeChat. He could only find living space in unfamiliar social relationships, even if social software such as exploration later competed differently in unfamiliar social relationships, it would eventually be acquired by Momo.
On the other hand, Taobao is surrounded by strong enemies. In the mid-to-high end, JD.COM competes directly with Tmall, and JD.COM has unique competitiveness in logistics, because it is self-operated and has greater autonomy in the supply chain. Although the diversity is not as good as Ali, the user experience is generally better than Tmall and Taobao. Pinduo, which was established on 20 15, came from behind. At present, the number of monthly active users has surpassed that of JD.COM, catching up with Taobao. Pinduoduo stands for low end and JD.COM stands for high end. They compete with Ali's Tmall and Taobao from two levels.
In terms of market value alone, the current market value of Pinduoduo has reached $220 billion, that of JD.COM has reached150 billion, which adds up to $370 billion, while that of Alibaba is $700 billion, which means that the combined market values of Pinduoduo and JD.COM have surpassed that of Alibaba Group. Wechat's status is "seeking defeat alone", and Momo's market value is only $3.4 billion. On the one hand, it is the loneliness of defeat, and on the other hand, it is the catch-up of the second child and the third child. The market position is completely different.
Different market positioning is doomed to different expectations in the future. There is no need for links between e-commerce users. They just need to have a link with the merchant. Whoever is experienced and cost-effective will go. Low user loyalty is due to low migration cost, and high user loyalty of acquaintance social software is due to high migration cost. As long as WeChat itself does not make users experience rage, it is difficult for social tools to challenge it.
The author wrote an article a year or two ago, analyzing the market space of e-commerce and social networks. From the perspective of industry alone, e-commerce can generate more revenue, so it is normal for Alibaba's revenue scale to exceed Tencent's. If JD.COM and Pinduoduo are added, the scale is much larger, and now the revenue of Ali alone exceeds Tencent 1000 billion.
The peak of Alibaba's market value is on June 28th, 2020, 10. At that time, Alibaba's market value was as high as HK$ 6.69 trillion, which was basically equivalent to Tencent's current market value. At that time, Tencent's market value was only 5.79 trillion Hong Kong dollars, equivalent to today's Alibaba market value. After three months, the market values of the two were exchanged.
Alibaba's competition with JD.COM and Pinduoduo is not now, but before. Why has the market valuation changed so much in the last two or three months?
In fact, this has to be said, because Alipay is another "gold mine" of Ali. Alipay has many social service functions, such as various life payment and payment functions. Although these services are free, they are very sticky to users. With user stickiness, you can do financial services, such as "credit card" business and "loan" business, and you can also do financial channel business such as funds and insurance. In these comprehensive fields, Alipay is almost
However, with the suspension of listing of Ant Group, the subsequent rectification direction is to return to the payment business, and the working space of Ant Group in the financial field will be much smaller in the future, and its competitiveness will suddenly come down. The valuation of Ant Group may be reduced by more than half, while Ali holds one-third of the shares of Ant Group. Without the restrictions of the last two months, Ant Group has been regarded as a comprehensive financial service platform comparable to Ali and Tencent.
Ali's imagination in Ant Group has been exhausted, and the rest are other business areas, such as cloud computing, artificial intelligence and smart electric vehicles. These fields are also very imaginative, but at present, they are small in scale and the development stage is not high. And it is difficult to reach the leading position in the industry in a short time. It can only be said that the industry has imagination, but Ali has a chance.
In the long run, Ali's Taobao and Tmall will coexist with JD.COM and Pinduoduo for a long time, and no one can eat anyone, because they are all differentiated competitions and each has its own advantages. However, the nature of e-commerce itself determines that it is difficult to form an absolute monopoly, and it can only be a pattern of oligarchy coexistence.
What is the number of shares available for purchase?