Public comment was established in April 2003, and two sub-stations were opened in Beijing and Hangzhou one year later. The strategy at that time was intensive cultivation in one city and one city. Until 2006, the public comment received the first financing, and the investor was Sequoia Capital.
In 2006, the word-of-mouth network invested by Alibaba launched fierce competition with public comments. Public comments beat opponents through high user quality and stickiness.
In addition to this strongest, almost the only opponent, public comment is not a big challenge in most cases, and it can develop steadily with peace of mind. Group buying website, local life service platform ... and the public comment with many concepts announced in April of 20 1 1 that it had obtained financing of 1 billion dollars, and was praised as "the next company with a market value of 10 billion".
20 1 1, the situation of "Thousand Regiments War" makes group buying the main battlefield of burning money. The conservatism of public comment makes it impossible to go further. Even after the withdrawal of Handan.com and Wo Wo Group, public comments were limited by the lack of coverage in the third and fourth lines, which lagged behind Meituan.
Before the end of the National Day holiday on 20 15, Meituan and Dianping completed the strategic merger. Long Wei believes that the merger of the two parties is not due to the arrival of "capital winter". In fact, both companies can complete the financing separately. The merger of the two parties should be interpreted as an "economic law".
Just like Didi and Kuaidi, when the industry leader and the second child divide the market, there will be low-end subsidies and disorderly competition, while ignoring products and services. At that juncture, the public comment and Meituan agreed that "it is time to end the fierce competition and return to more rational operation."
Most importantly, there are not many overlapping users, and less than 15% of users use both Meituan and Dianping. Generally speaking, the users of Meituan are concentrated in third-and fourth-tier cities, and public comments have more users in first-and second-tier cities.
From the perspective of business structure, Meituan Review currently has four sections: in-store catering, hotel tourism, online take-out and mobile travel, among which take-out is the most important support for the company's valuation.
According to Wang, senior vice president of Meituan Review, the turnover of Meituan Review in 2065,438+07 was 1 765,438+0 billion yuan. Combined with the "Guide to Black Pearl Restaurant 2065,438+08" published by Wang Xing, Meituan commented that the turnover in 2065,438+07 reached 360 billion yuan and the income reached 33 billion yuan.
However, the performance of Meituan Review in hotel tourism and mobile tourism has also attracted the attention of competitors. According to the report data released by Trustdata, a third-party mobile Internet big data monitoring platform, in March this year, Meituan Hotel surpassed the sum of Ctrip, Qunar and Tongcheng Yilong for the first time with a monthly room occupancy rate of 22.7 million. At the same time, in the first quarter of this year, Meituan Hotel ranked first in the industry with 57.7 million orders.