Baidu Joins Uber to Join BAT to Enter Car Rental Field

For Baidu’s shareholding in Uber Capital, which was approximately US$600 million, Baidu’s founder and CEO Li Yanhong declined to comment yesterday. Li Yanhong said, "The main purpose of this cooperation and signing is not just an investment act, but more of a commercial strategic cooperation."

"Uber currently operates in more than 250 cities around the world, and the Asia-Pacific region is the most important growth area." Travis Kalanike, founder and CEO of Uber, which appeared at the Beijing conference, said yesterday that with Baidu Strategic cooperation reflects the company's emphasis on the Asia-Pacific travel market, and also contributes to the localization of Uber. In response to news that Uber had been banned in some countries, Travis responded that Uber has a good relationship with Chinese local governments.

Founded in 2009, Uber is the most highly valued entrepreneurial company in Silicon Valley, with a valuation of US$40 billion. It has developed business in more than 250 cities in 52 countries and regions, including Beijing, Shanghai, Guangzhou, and China. Shenzhen and other cities.

â–  Analysis

Baidu Uber Co., Ltd

Although the partners did not disclose the proportion of co-financing and equity, some investment bank sources disclosed that Uber’s valuation exceeded US$20 billion at the beginning of this year. After a recent round of financing, the valuation has exceeded US$40 billion. If Baidu’s shareholding amount is rumored Of the 600 million U.S. dollars, the shareholding ratio is extremely small, so the significance of the cooperation between the two parties lies in each and every need.

Billion Europ CEO Huang Yuanpu believes that for Baidu, the symbol of Uber is to further strengthen the O2O layout and further increase the commercialization of Baidu's mobile business. On the other hand, cooperation with international mobile internet companies can accelerate Baidu's internationalization.

For Uber, Tian Hao, vice president of Analysys International, said that from the perspective of localized user experience, Uber experience is not as good as domestic taxi software, localization is not enough, there are not many Ubers, and regionalization is more problematic. Obviously, Uber needs development in China.

“Because DDT and the fast taxi and car services have already depended on Tencent and Ali, Uber wants to develop independently in China, and Baidu can be said to be the best and only choice.” Huang Yuanpu believes that through cooperation with Baidu, perhaps U.S. China's expansion can avoid some policy resistance.

â–  Market

BAT sets off about car rentals

In foreign countries, Uber, which is characterized by a shared economy, uses its idle private car resources to provide a rider service, and has since entered the business car rental area. However, in China, because private cars are included in the “black car” ranks, Uber only provides commercial car rental services in the country, and it has reached cooperation with car rental companies and labor service companies respectively, and is divided into car rental companies. Therefore, Uber’s competitors in China are actually business-related car rental services, such as the number one car, DDT car, easy to use car and so on.

Uber introduced that Uber will provide different products for all types of users according to the grade of the car. The categories include UberBLACK (luxury cars such as Audi A6L, BMW 5 Series, Mercedes-Benz E-class, etc.) and UberXL (advanced commercial vehicles, such as Buick GL8, etc.), UberX (preferably cars, such as Camry, LaCrosse, Passat, etc.) and the U.S. Uber (carpooling business, more models).

The major shareholder behind the fast taxi and No. 1 car is Alibaba. The major shareholder of Djichu and Dianxiang is Tencent. Baidu has an equity stake in August this year. Now Uber is in hand, so BAT competition in the area of ​​car rental will increase. More intensely.

â– Future

A new round of price war is expected to start

With the increasingly fierce competition in the area of ​​car rental, the special car business originally targeted at mid-to-high end has a tendency to set off a price war at the initial stage of market cultivation, attracting users to experience it through subsidies such as rebates and red packets. In the case of Internet companies that have been accustomed to burning money, it is not clear how Uber will pay attention and perhaps a new round of price wars is set. However, Huang Yuanpu believes that the diversification of the travel market is good for consumers. The regulatory policy layer may issue policies to regulate the pricing of the car rental business, so that the Chinese driving travel market will be formed by taking the taxi as the bottom and the car hire as the top middle class. Pyramid structure.

The reporter learned from the insiders of the car rental company that the supervisory level is studying the “grey” zone of car rental operations. Market participants believe that P2P car rental services are conducive to the rational use of idle resources, while opponents believe that there will be safety and regulatory issues.

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