For most Internet start-up companies, Internet giants such as BAT (Baidu. Alibaba, Tencent) have controlled almost all upstream resources and downstream channels. If such companies fail to get their favor and investment, it would be difficult for these companies to establish a foothold. Anbound points out that the number of outbound investments of Tencent, Alibaba and Baidu in 2017 was 113, 45, and 39 respectively. In the IP economy era, BAT was able to use IP to accumulate social resources, and then acquire large number of businesses in online, retail and financial investment industries. This will cause the market to worry about the alleged monopoly, and it is likely to trigger government departments to strengthen the industrial supervision for BAT.