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Why did the famous "Teng million" combination at the beginning of its establishment gradually become quiet and face squad? Two years ago, in August 2014, Wanda, Baidu and Tencent announced that they would jointly invest in the establishment of Wanda E-Commerce in Hong Kong to fully develop O2O e-commerce.
It is understood that Wanda, Baidu, Tencent's initial investment in Wanda E-commerce is as high as 5 billion yuan, of which Wanda holds 70%, Tencent and Baidu each hold 15%. According to Wang Jianlin's introduction at the scene, the investment amount of Wanda E-commerce was 5 billion yuan, the total investment in 5 years was close to 20 billion yuan, and new investors will be introduced. For the three giants' big investment in Wanda E-commerce, the industry has analyzed that it is to jointly challenge Alibaba.
At the press conference at the time, Li Yanhong envisioned Wanda e-commerce to connect the real economy through the Internet technology to achieve online and offline scene fusion. Ma Huateng admits that Tencent as a connector to make more services intelligent, there are a lot of O2O opportunities, Wanda e-commerce is to make the offline more intelligent.
For the analysis of the cooperative industry at the time, Tencent provided the import resources and users of WeChat. Baidu provided maps and offline traffic resources in exchange for Wanda's huge offline traffic, and the three complemented each other to form the O2O ecosystem.
However, although the thunder sounded, the raindrops did not fall much. According to the industry and commerce data, the establishment date of Wanda E-Commerce Entity Operating Company Shanghai Xinfeifan E-Commerce Co., Ltd. was March 26, 2015. At this time, it has been more than half a year since the signing cooperation in August 2014. In April 2015, the new e-commerce platform Feifan.com finally went online, but the “Wanda, Tencent, Baidu account system opened†mentioned in the cooperation agreement did not appear. 
According to the reporter's inspection, Feifan.com changed its director, legal representative and investor (equity) on July 7. Among them, the change of investor (equity) has been made by Beijing Baidu Netcom Technology Co., Ltd. and Shenzhen Tencent. Industrial Investment Fund Co., Ltd. and Wang Jianlin were changed to Shanghai Wanda Network Financial Services Co., Ltd.
On August 4th, an insider who did not want to be named told this reporter: "When Wanda E-commerce was established, Wanda, Tencent and Baidu only signed the framework agreement, after which Wanda was doing business with Baidu and Tencent. It is very difficult to advance, and Feifan.com is basically a Wanda family."
Zhao Zhenying, deputy dean of Beijing Zhongqing Research Institute of Information Technology and researcher of national engineering laboratory of e-commerce transaction technology, said in an interview with China Business News that Wanda, Baidu and Tencent lack e-commerce genes, and all three parties did not think about it. How to develop O2O e-commerce.
“Wanda is in the Wanda E-Commerce Consortium, and Baidu and Tencent have not played any role in it, so there is no 1+1+1>3 effect.†Mo Zhen, Director of Network Retail Department, China E-Commerce Research Center Qing told reporters that on the one hand, it did not achieve the desired effect, on the other hand, the development of e-commerce is relatively burning money, which should be the reason for Tencent and Baidu to withdraw. (Li Jing China Business News reporter)
E-commerce model is further questioned Tencent, Baidu has already withdrawn from the "Teng million" e-commerce portfolio
Abstract As Tencent and Baidu have withdrawn from the “Teng million†e-commerce portfolio, Wanda E-Commerce has received industry attention. On the evening of August 4, Wanda issued a statement saying that the three parties did not achieve investment cooperation, and the extraordinary network was fully funded by Wanda, Tencent and Bai...
Due to the low-key exit of Tencent and Baidu's “Teng million†e-commerce portfolio, Wanda E-Commerce has received industry attention. On the evening of August 4, Wanda issued a statement saying that the three parties did not achieve investment cooperation. The extraordinary network was fully funded by Wanda, and Tencent and Baidu did not actually invest any funds.