| In recent years,corporate mergers and acquisitions in the Internet field are booming.Alibaba,as a giant of domestic Internet companies,has repeatedly improved its Alibaba industry map through mergers and acquisitions.In 2018,the year-on-year growth rate of NetEase’s net profit fell sharply,mainly due to the drag of NetEase Koala’s e-commerce business.In order to focus limited resources on the development of NetEase’s superior business,Ding Lei,the founder of NetEase,decided to use NetEase Koala Sold to Alibaba for $2 billion.After the acquisition of NetEase Koala,the two can complement the advantages of business resources to a certain extent.But in the end,whether it can achieve a win-win situation poses a big challenge to the late integration after Alibaba’s acquisition of NetEase Koala.Alibaba’s merger and acquisition of NetEase Koala at a high price,whether the merger and acquisition is overvalued,and what financial risks exist in the merger and acquisition are the focus of this study.The main thread of this article is to study the financial risks of Internet enterprise mergers and acquisitions,and select typical M&A events Alibaba M&A Netease Koala as the case study object.This article uses the theory of Internet enterprise mergers and acquisitions and financial risk identification methods as the theoretical basis,combined with the status and characteristics of Internet industry mergers and acquisitions to analyze the financial risks in the Internet industry mergers and acquisitions,on this basis to analyze the case of Alibaba M&A Netease Koala,Using analytic hierarchy process and fuzzy comprehensive analysis to quantify the financial risks in the process of mergers and acquisitions,and based on the case study,it proposed to prevent corporate M&A valuation risks,choose a reasonable financing payment method,and establish a reasonable and effective financial integration system And other measures.This paper analyzes the financial risks and existing problems faced by Alibaba’s merger and acquisition of NetEase Koala,and proposes corresponding solutions to these risks and existing problems,which not only has a certain reference value for the prevention of Alibaba’s own financial risks,but also other Internet The M&A case of an enterprise also has certain reference significance. |
