Matrix partners harry man: O2O or merger boom, carpooling development space

note: hunting cloud matrix partners, a partner at harry man accepted the tencent technology in “Chuang” in an interview with talked about the current investment hot spots, the general view is as follows:

1, from the beginning is not optimistic about Secret projects, does not meet the frequency, duration, three indicators for a long time, so the red is not interested in blasting of night.

2, marriage of drops quickly, or will move O2O business merger boom. Do you think should not always be hostile, 1 + 1 is greater than 2, many people will choose to do this thing.

3, carpooling market can do much in doubt. Have a demand, there will always be a, but is this market will become a billions and billions of company, my judgment is not necessarily.

the following for tencent technology interview harry man ‘:

host: fabric before throws a lot of social class, the Secret is also facing some problems recently, domestic these anonymous social applications are ok?

harry man: from the first day we haven’t been able to, for this type of project, because I don’t particularly like. (see social software) we have several important indicators, among them to think of the software to use frequency is very frequently, this is the first point. Second, can you use longer. Third, after two years, three years later you will use this software.

if social (project) shot today these three indicators are short of words, our basic not voting. Secret or no secret, in fact they do is say some gossip, you go to imagine, you will not be open every day? After two years will still open? If not, don’t set up to be our main points of the social. So we don’t have engaged in this field.

host: you will be interested in night hit the products?

harry man: not interested, it is dangerous to social products, instant radiance and the social originally is easy, can sustainable development, which is the core of the product is the most important. Today to look to the left, from WeChat or to Momo to YY, can settle, you will feel is every day or a year with the product that has its vitality. There is no sense in the outbreak of social, any social can explode, sustainable development is the key.

host: now many startup valuations are particularly high, some have more than some of the listed company, for this kind of secondary market upside down the phenomenon of what you think?

harry man: this is certainly not normal, abnormal does not represent all company is bad company, or is not worth the money, there must be some value in the middle. Such as jingdong listed before left a $7 billion valuation, threw the redwoods, very many think he is stupid, in fact today valuation also 3, 40 billion, so there are some products can continue to breakthrough, some products can’t break out. So today with so high valuations for terminal project, the middle there is a certain risk. The risk existed in, it likely future listings, valuation is lower than you, or maybe a draw. Late these things if happened constantly, the investment community will be more and more sensitive, they’ll be careful.

what happened today is not a lot, that is two, three, four B B B into, because listed do not want to value-added space is not a lot.

host: what do you think the early vote before a company is the most important?

harry man: or core products, product core is the most simple description in it in what kind of problem solving. I believe that mobile phones, mobile Internet, the Internet, they are doing to solve different problems. If in solving a problem will have a big development space. The second is this person, this person is a capable entrepreneurs and ceos. These two points is that we see of the early companies of the more important point.

host: drops and fast merger earlier this year, and then is 58 network and market network merger, the merger will become a trend?

harry man: could be. Because not is a very stupid thing, especially some of the network effect is particularly strong companies, like drops, absolutely is a kind of fast, 58, the market may not calculate, because the website is 1 + 1 is greater than 2 is hard to say, but a taxi software is absolutely more than 2, because all the demand and supply of together, suddenly there very big power. So in the end is a lot of sense to us, unless you think the reason may be only one, is you ratio I big, I’m older than you, in the end is still a question of money. As long as the stake or to talk about the price, finally have to 1 + 1 is greater than 2, many people will choose to do this thing.

especially after drops, fast do you think should not always be hostile, so move the industry more and more people are willing to talk, you could talk into is another matter, at least today is more open than before. Drops, fast, 58, market, for example, whether the future will review, and merged, this is for others to have imagination, I don’t think this is what a bad thing. Beat or consolidation is not failure, in fact, everyone will see us after the company suddenly turned over many times layout, a pile of investors to come in, it was obvious to everyone, everyone can’t put money, when the reason is I don’t know who is the winner, and the value will suddenly increase a lot.

host: this related to the industry?

harry man: related to industry, there are some things the network effect is stronger, and the effect is obvious, easy to hit a merge, such as drops, is fast. 58 and the fair, now don’t say such as sina, netease, two platform, together will not become a three, five, so not so strong power. Especially in the raise as a style, take a taxi, the generation of driving, aunt service, such type of O2O merger is very favorable.

host: you travel to this, the carpool this then? I think carpooling these companies must be through a process of integration.

harry man: this is a direction, the direction of how on earth do bad evaluation. A taxi or back pain, the pain points is enough big, so do 10 billion companies, carpooling demand, will tell from you as a user, you consider, when was the last time want to carpool, if it didn’t happen on you my level, so how can do in China? This is a question mark. Are there, but never have, how big is the market, is becomes a billions and billions of company, my judgment is not necessarily.

host: now the a-share special fire, storm a-share listed is A kind of trend, the future will there be many companies VIE structure considering return?

harry man: I’m very positive. Went out first investment perspective, VIE is better than not to go out, this is also a channel. Before a second benefit, the Chinese market may not be so humane, valuations are high, investors are institutional investors, after time of precipitation, the market will be more and more mature. Including the government is vigorously promote new three board, including the gem registration system, these things for Internet companies are actually pretty easy. If you can borrow the power of the platform to give it to another level, to do some more great things, may be a corner overtaking opportunities for many companies.

like Letv market today is more than $1000, the storm is more than $200, so a lot of imagination, for everyone in China still can blossom, the future will do very well.