Business logic of Tencent e-commerce holding company

It is worth noting that public data from third parties such as iResearch show that the sales of Tencent's e-commerce platform last year were between 25 billion and 30 billion, accounting for less than one tenth of Taobao's almost 1 trillion transaction volume. However, Tencent has several times as many users as Taobao.

This is also the logic of Tencent's big move. Wu pointed out: "Tencent's e-commerce still has too much potential to play."

According to the reporter, Tencent officially set foot in e-commerce in 2006. From 2006 to 2009, it can be regarded as the first stage of development. Tencent regards "pat" as the strategic incubation of seed business, and begins to learn and try and make mistakes to understand the laws of the industry.

From 2009 to the present, it is the second stage. During this period, Tencent e-commerce was incorporated into the "Internet business system", and through the integration with social platforms, we observed user value and looked for ways to make good use of platform traffic. The realization of traffic realization rate is regarded by Tencent as the third stage of "e-commerce adult ceremony".

Previously, because it operated in the form of a business unit, the e-commerce business unit was weak in the flexibility and efficiency of the overall decision-making mechanism. Secondly, Tencent's lack of "e-commerce genes" has also been criticized by the industry. Tencent Internet's products and services lack the experience and resources of deep cooperation with offline. Thirdly, as can be seen from the financial statements, e-commerce revenue has not been Tencent's main source of income, which also means that Tencent's inclination to e-commerce resources is not enough.

Tencent said that this "right medicine" is based on the above.

Reason. The e-commerce open platform of "self-operated with Yixun as the core+core B2C joint venture mode+high-quality merchant open platform" built in the new stage will complete the mission of the third stage.

In addition, the establishment of Tencent e-commerce holding company will also stimulate employee efficiency. In an internal email sent to employees, Wu said, "Faced with new major opportunities, we look forward to relying on the mechanism of holding companies in the future and creating greater value for the Group through capital operation means such as independent listing, so that employees and shareholders can enjoy future victories."