Research On Motivation And Performance Of Meituan 's Acquisition Of Mobike

As an important means for enterprises to optimize resource allocation and adjust industrial structure,M & A had a profound impact on the development of various industries.At present,Chinese Internet companies have implemented several cross-industry M & A activities to seek to break the industry gap and achieve transformation and upgrading.After the implementation of M & A,it may not be possible to achieve the goal of improving performance.Therefore,it is important to analyze the motivation of the company 's M & A and whether the performance after the merger meets the motivation.The purpose of the research is to provide a reference for the establishment of motivation and performance evaluation when enterprises implement cross-industry M & A.The theoretical basis of this article is the theory of diversified management and synergy,on the basis of sorting out the domestic and foreign relevant literature such as M & A motivation and M & A performance,and through a combination of literature research and case studies,To study the cross-industry M & A case of Meituan M & A Mobike in 2018.First of all,based on the two theories adopted,Analysis of Meituan 's M & A motivations from the perspective of synergy through integration of user resources,expansion of market size and complementary brand value,analyze Meituan 's M & A motivations from the perspective of diversification through accelerating new business layout,advancing diversified development strategies and building a life service ecosystem;In the performance analysis section,two methods of financial indicators and non-financial indicators are used to evaluate the performance of Meituan before and after the M & A,and through horizontal and longitudinal comparative to calculate and analyze the financial indicators of the four cycles of Meituan and compare with the industry average,at the same time,predict the level of various indicators after the merger based on the data of the first two cycles,and compare it with the actual situation after the merger,analyze the model to get the overall change trend of each indicator;The selection of non-financial indicators is based on Meituan 's M & A motivation and combined with its current development status.It selects website traffic,market share and customer indicators to analyze and evaluate the non-financial performance with the merger;the performance analysis and the motivation of M & A is related to explain whether the performance of the enterprise after the merger has realized the motivation,combined with the case study,the paper puts forward suggestions for the improvement of M & a performance.The research conclusions are as follows: In the financial performance analysis,the financial status of Meituan 's M & A during the current period showed a downward trend,and its early solvency and operating ability performed poorly.The situation began to pick up in the two cycles after the completion of the M & A,and there was a significant gap compared with before the M & A;In terms of development capacity and profitability,the first three cycles have declined,and the last cycle has shown an upward trend;the results of factor analysis are similar to the analysis of a single indicator,and the comprehensive financial capacity of Meituan 's M & A cycle has declined.However,with the effective integration of resources in the two cycles after the M & A and the successful launch of new business,Meituan 's comprehensive financial capabilities have improved compared with those before the merger and have shifted from the original high-speed growth stage to a high-quality and stable development stage;In the non-financial performance analysis,indicators such as website traffic,market share,and user size performed well in the three cycles after the implementation of M & A activities,and achieved a significant increase compared to before the M & A.The synergy effect after the M & A made the company's non-financial performance has been comprehensively improved.Finally,the analysis of the results of the two parts of performance evaluation and the motivation of M & A,it can be obtained that Meituan 's performance after M & A Mobike basically met the M & A motives.