Chinese Internet users are shifting from traditional PCs to smartphones, indicating the arrival of the mobile Internet era. Leading e-commerce vendor Alibaba, social media and online gaming company Tencent, and search engine company Baidu have been competing for the throne in the Chinese Internet market, either through acquisitions or strategic alliance. With the emergence of new business opportunities driven by the 500 million mobile Internet users in China, the acquisition mania of the three Internet giants will change the future of China's Internet development.