Along with broad applications of internet technology and mobile devices，internet-based finance，i.e. on-line payment，information intermediate service has entered a boosting era. Thence，being simple，profitable and payable，the internet-based liquidity management products（Often referred to as “Baobaos”），represented by Yu’ebao，Licaitong and Lingqianbao，have gained wide recognition and rapid expansion. In order to assist investors to better understand the development and differences of “Baobaos”，so as to make better investment decisions，Baobaos’ development process，success factors，external influence and challenges have been briefly analyzed；while rigorous evaluation system and objective data based quantitative evaluation have been made. It is found that，Ali Yu’ebao dwarfs other competitors in the comprehensive assessment of profitability，service capabilities，platform influence and investor recognition.