Di Yi Cai Jing Zi Xun·2025-08-31 13:04Core Insights - Baidu's acquisition of 91 Wireless for $1.9 billion in 2013 is coming to an end as the service will cease operations on September 27, 2025, marking the end of a significant chapter in the mobile internet era [1][2] - The shutdown of 91 Assistant reflects profound changes in the mobile application distribution industry and signifies the end of early mobile internet dividends [1][2] - The competitive landscape has shifted from focusing on traffic entry points and user engagement during the mobile internet phase to data, algorithms, and computational power integration in the AI-driven era [3] Company Summary - Baidu's acquisition of 91 Wireless was seen as a critical move to secure a platform-level product in the mobile internet space, especially as it was the largest acquisition in Chinese internet history at the time [2] - Despite the initial promise, 91 Assistant struggled to integrate effectively into Baidu's ecosystem and faced challenges due to the closed nature of the iOS system, limiting its growth potential [2] - The company has faced setbacks in major investment decisions, including the failed $3.6 billion acquisition of YY Live, highlighting ongoing challenges in strategic execution [3] Industry Summary - The mobile application distribution industry has undergone significant transformation, with traditional app stores losing their value as major smartphone manufacturers establish their own distribution channels [2] - The competitive focus has shifted towards the integration of technology, products, and ecosystems, emphasizing the importance of adapting to the evolving landscape driven by AI [3] - The end of 91 Assistant serves as a reminder of the lessons learned from costly acquisitions in the mobile era, underscoring the need for companies to build deep integration capabilities in technology and ecosystem [3]