Shanghai-based VC William Bao Bean explains why the China startups he supports focus on South-East Asia and Eastern Europe, rather than the US. “We are trying to break the grip of Google and Facebook on startups.”
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Making money on mobile apps is – despite their popularity – almost impossible. Taiwan-based MOX and Shanghai-based Chinaccelator try to break the stranglehold of Google and Facebook on this industry, says William Bao Bean, managing director of both, to Tech in Asia.
Chinese platforms are going global: Ctrip, Didi, Alibaba, Baidu, UnionPay. Global platforms try to enter China: Airbnbn, Uber, Google, Facebook. Peking University business professor Jeffrey Towson welcomes us to the US-China platform war, and explores on his LinkedIn page the battle field.
WeChat has been for long the golden grail for marketing to China´s consumers. But those days are over, says innovation expert William Bao Bean, director of the Shanghai-based ChinaAccelerator to TechNode. Marketing needs more platforms than WeChat, although the Tencent tool is still an important center piece.
Mark Zuckerberg caused quite some controversy when plans emerged to censor Facebook to facilitate a possible return for the company to China again. Whether you agree or disagree, the way China censors the internet is more than just blocking a few Western sites, and will not go away, says internet expert Kaiser Kuo in ChinaFile.
China has a booming and innovative startup scene, looking for global expansion. But leading VC William Bao Bean of the Shanghai based Chinaccelerator is not going to put his money in the European or US markets. Facebook´s Zuckerberg is effectively stopping any startup from becoming the next Zuckerberg, he tells a German audience.
Western internet companies have a troublesome history in China, but – says internet veteran Kaiser Kuo in the Technology Review – Facebook has a bigger chance to reenter China than Google. “Google is not trusted.”
The walled gardens of Whatsapp, Facebook and Google have lost great opportunities, and now they have to face Chinese competition as Tencent and others prepare expand into the next four billion users, outside China, told Shanghai-based innovation expert William Bao Bean last week at the Next16 conference in Hamburg.
Mark Zuckerberg, the CEO of Facebook, has gone to great lenght to appease China´s leadership in an effort to enter the largest internet market again. But, says Sam Flemming, an internet veteran based in Shanghai to Reuters. Local competition might even be a tougher challenge, unlike in the US where Facebook broke new ground.
American internet companies have lost in the competitive China market one after another: Google, Yahoo, Facebook, Ebay, Twitter, YouTube. Compared to them Uber did an amazing job, says innovation expert William Bao Bean to LA Times. “It was a draw.”