M&A Risk Of Internet Enterprises

In recent years,the growth of Internet users in China is slowing down gradually,the number of Internet users is about to reach the peak,and the early era of traffic dividend for Internet enterprises is basically over.In the coming stock competition era,the "traffic anxiety" of Internet enterprises is becoming more and more serious.Thanks to China's huge population base,the huge market represented by the number of Internet users far exceeds that of other countries has attracted a lot of capital,and the capital strength of Internet enterprises far exceeds that of other industries.The disappearance of the flow dividend shakes the foundation of the rapid development of Internet enterprises,and the path of realizing the rapid expansion of enterprise scale through endogenous growth is basically cut off.Therefore,M&A has become an important means for the rapid development of Internet enterprises.However,M&A activities have both risk and revenue attributes.How to control the risk and maximize the M&a revenue has become the focus of M&a research.At present,the research on the merger and acquisition of Internet enterprises by Chinese scholars is still lacking,and the effective means for risk control have not yet established an effective system.This article first summarizes the risk research of domestic and foreign scholars,combined with my current status and characteristics of Internet industry mergers and acquisitions,to find out the reasons for mergers and acquisitions of Internet companies.At the same time,the M&A activities are divided into the first,middle and last three stages for specific analysis.According to the process of M&A activities,the integration of various aspects from strategy formulation,target selection,information collection,valuation decision,financing decision,payment plan to later M&A The link looks for possible risk points and reminds the future M&A enterprises.Are Alibaba M&A Elem?This is the largest cash M&A case for Internet companies in 2018.This article collects detailed information on this typical case and a questionnaire from practitioners.Based on the summary of M&A risk points,it uses AHP to quantify each M&A risk point The impact of the development of a set of risk evaluation index system.It is hoped that the risk control recommendations for Internet enterprise mergers and acquisitions obtained in his research can help future mergers and acquisitions,reduce the risk of mergers and acquisitions,and help companies achieve more effective synergies and increase corporate value.