new year, China’s technology industry mergers and acquisitions tide continues.

 

mogujie.com founder June. Source: Vision China

mogujie.com beauty officially announced the merger of June as the new company CEO

mogujie.com and beauty said the merger rumors finally implemented, which is also the first merger of the Internet industry in 2016.

January 11th, the social networking platform mogujie.com announced the formal merger beautiful said. Prior to the official announcement of the merger, said the United States has been completed in August 2014 E round of financing, the amount is unknown, valued at nearly $1 billion. Mogujie.com also in November last year completed a $200 million D round of financing, valued at nearly $2 billion.

According to

news about the whole transaction interface, mogujie.com and beauty by 2:1 convertible, the resulting new business valuation of nearly $3 billion. After the merger, mogujie.com and beauty said the two brands will remain independent operation, the original management and organizational structure will remain basically unchanged. Tencent involved in the beautiful said D round of financing, the merger of Tencent as a shareholder will be a new round of holdings. In addition, the merger did not withdraw any shareholder.

double CEO system no longer

from February last year, Didi taxi, fast taxi after the merger, the Internet industry set off a wave after wave of consolidation, 58 city and Ganji, the U.S. group and the public comment, Jiayuan and Lily network and so on, these cases were used with CO CEO double CEO system to avoid suddenly with the possible internal risk, but in just a few months to a left end.

mogujie.com and the United States said the merger is a direct implementation of a single CEO system, by June continued to lead the development of the new company as CEO. The interface of news reporters from several close to the merger of who at that, the ultimate fate of Xu Yirong and 58 with similar or fair.

last November, Ganji founder Yang Haoyong announced 58 new companies with market as CEO positions, also announced that its seeds hatch straight sell second-hand car network will spin off. Yang Haoyong will hold the seeds of second-hand car more than 50% of the shares, as financial investors will continue as shareholders 58 market companies. In other words, Yang Haoyong left 58 market management, will lead to second-hand car business seeds.

had a reporter from the beautiful former employees that Tencent and Hillhouse capital has repeatedly to promote the beautiful and mogujie.com merger, but because June and Xu Yirong in the valuation and other aspects and has been unable to reach a consensus in suspense. However, in September 2015, Xu Yirong suddenly began to vigorously promote the beauty of cross-border electronic business platform called HIGO platform a, even spent 338 million yuan to run 3 male title. Interface news reporters also learned from the source, the merger does not involve HIGO, thus >