Try to solve a problem, do not focus too much on your own product, tells Chinaccelerator managing director William Bao Bean at a CNBC tech talk panel in Singapore entrepreneurs looking for VC money. He saw too many entrepreneurs trying to enter China and Asia without asking themselves whether it was needed.
Category Archives: mobile
Online financial institutions like Alibaba’s Ant Financial and Tencent are developing new business models, where they make money on the giant amount of data they collect. Financial authorities are stepping in, for the right reasons, says business analyst Shaun Rein to the China Daily.
What internet companies coming to China forget is that the user base is completely mobile. They have always done all their online stuff on mobile devices, says managing direct William Bao Bean. of accelerator VC firm SOSV at MOX Demo Batch Day 3, writes E27.
Communication in China has changed into a completely different ball game, most Western visitors fail to get. Especially the blurring line between personal and business communication is key to understand, says business analyst Shaun Rein at Knowledge CKGSB. For example for recruiting.
Internet giant Tencent might be most known for its loss-making WeChat, but that chat tool is effectively used to generate revenue through gaming, says e-commerce expert Matthew Brennan on QZ. The company reported a stellar performance of the second quarter.
Innovation expert William Bao Bean, managing Director of SOSV’s Chinaccelerator, discusses entering the China market is tough, if not impossible for foreign players in many industries. In the Hutong podcast, William looks at the way he trains Chinese startups for a global play, and foreign startups for the China market.
Foreign tech firms have a tough time entering the Chinese market, but Chinese tech companies going global have an equally hard time, despite increased financial firepower. Peking University business professor Jeffrey Towson discusses the international development of the tech market at CGTN. Even his mum in California knows now Alibaba’s Jack Ma, but it does not mean she uses his products, yet.
A decade ago, in China cash was king. But in less than another decade, the same country could be the first fully cashless society, says business analyst Ben Cavender to AFP. Cavender estimates China’s mobile payment market is already 40-50 times larger than the United States
From a cash country, where transactions were done by moving plastic bags with money between bank branches, China has turned into a leading force in fintech or financiel technology. Mobile payment are standard. Bitcoins and blockchain technology found in China early adopters. Social media have – more than anywhere in the world – adopted payment systems to facilitate online trade.
The Honor of Kings, a uniquely popular online game, is profoundly changing the Chinese society, says social media expert Matthew Brennan at eMarketer. Launched in November 2015 by tech giant Tencent, it even triggered off concerns by China’s leadership.