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Independent TMT Analyst

Edison Lee, CFA

Equity Bottom-Up

<p>Baidu Nuomi's CEO (Zeng Liang) issued an internal email to all staff to dispel recent rumours that they are merging with Meituan-Dianping. The key points are:</p><ul>
<li>O2O is a marathon. It is too early to say who the winner is.</li>
<li>Baidu Nuomi is doing well. Its market share has risen from 10% at the start of 2015 to 25% recently, which is likely the reason that Meituan and Dianping was forced to merge.</li>
<li>Nuomi currently has more than 10m daily active users (DAUs), 200m registered users, more than 100m daily…</li>
</ul>

Baidu Nuomi's CEO (Zeng Liang) issued an internal email to all staff to dispel recent rumours that they are merging with Meituan-Dianping. The key points are:
O2O is a marathon. It is too early to say who the winner is.
Baidu Nuomi is doing well. Its market share has risen from 10% at the start of 2015 to 25% recently, which is likely the reason that Meituan and Dianping was forced to merge.
Nuomi currently has more than 10m daily active users (DAUs), 200m registered users, more than 100m daily…


Baidu Nuomi's CEO: We're Not Done Until We Win