Korea 500 startups global and in china_Rui Ma
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December 11, 2013
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Transcript of Korea 500 startups global and in china_Rui Ma
December 11, 2013
Global Seed Fund and Startup Accelerator Program § $73MM USD under management across two Funds § 650+ Investments, since 2010, 30+ employees, 12 investment professionals § 35+ Countries (Ghana, Denmark, Ukraine, Latvia … 1 from Korea) § 25%+ Outside of US § Brazil, Mexico, India, SEAsia
NYC, SF, Mountain View (HQ)
Dave McClure Founding Partner -‐ Investments, Fundraising
Christine Tsai Partner -‐ Investments, Accelerator, Mentors, Distribution
Christen O’Brien Partner -‐ BD, Sponsorships, Events & Conferences
George Kellerman Partner (Japan), Fundraising/Investor Relations
Pankaj Jain India
Bedy Yang Brazil
Shai Goldman NYC
Santiago Zavala Mexico
Cesar Salazar Mexico
¡ Born in China, raised in US (Silicon Valley)
¡ U.C. Berkeley B.S. EECS
¡ Tsinghua-‐INSEAD EMBA (c/o 2015)
¡ ~10 years working experience, 6 in China § Merrill Lynch & Morgan Stanley Tech IBD (coverage + M&A), real estate principal investing
§ CITIC Securities M&A § Raine (TMT PE & advisory)
¡ Joined 500 in Jan. 2013 …
3 F/T Distribution / Growth Hackers
Shop Work
Learn
Play Eat
Everything is Connected (Peer-‐to-‐Peer, Just-‐in-‐Time) Everything is Personalized (All Data Recorded and Analyzed)
Existing Realities as of Q2 2013 § 325.5mm 3G devices (#1 market), 24% penetration
▪ vs. 225mm / 71% in US (#2 market) ▪ Room to grow to catch up to global penetration of 29.5%
§ 420mm mobile internet users (#1), 74.5% access internet via mobile vs. 70.6% via web
§ 1.20Bn mobile subscribers (#1) § 43% access web via mobile in Urban China, ~2x that of US (22%) and nearly
that of Japan (47%) § 30% of mobile internet users never use the PC
§ e-‐Commerce -‐ $290Bn (estimated) in 2013 (US: $260Bn), up 53%
(Largest Single Day Purchase: $5.75Bn on Singles Day, >4x $1.25Bn on Cyber Monday)
Source: http://mobithinking.com/mobile-‐marketing-‐tools/latest-‐mobile-‐stats/b
¡ China is Big § At least ½ as many early stage internet startups as the US … § Hundreds of accelerators … hypercompetitive domestic market
¡ China is Different § Hong Kong and Taiwan are not good proxies § Hire >> Partner
¡ China is Fast § Scaling: 100 sqm to 1000 sqm to 5,000 sqm § Visit 1x a quarter!
Therefore … I like Global / Cross-‐border / Unsexy
Doing Well by Doing Good�¡ WHAT: Employee retention (communications, training, community/deals) tool
on the smartphone for factories § Charge 10 RMB / employee / month
¡ WHY: double digit monthly churn, reduce costs, increase supply chain stability ¡ HOW: 60-‐70% of factory workers have smartphones, initially target MNCs with
CSR goals
¡ WHAT: Contest Platform to drive social media content and engagement § Charge per campaign (outcome-‐based fee quote)
¡ WHY: Refreshing content is expensive and time-‐consuming; build community; design students looking to build portfolio
¡ HOW: Design/Art schools, gaming + consumer products companies
¡ WHAT: Customer service management provider + analytics beginning with high-‐end hotel concierge desks § Mobile app using push-‐to-‐talk, taking advantage of other smartphone functionality
¡ WHY: Smarter human-‐to-‐human interactions ¡ HOW: SaaS, plus possible transactional model
¡ WHAT: e-‐Commerce logistics + return service for China-‐to-‐US sellers § Utilizes existing infrastructure; aggregates shipments
¡ WHY: Shipping is expensive / takes long time at low volume; returns are hard, trust is low for China-‐based sellers
¡ HOW: Integrate with existing shipping co’s; initial customers from eBay
FUN AT ALL COSTS.
Open Rules. Stealth drools.
TAKE RISKS
Diversity wins.
FAILURE is OK
FAST IS BETTER �
¡ Please contact me at any time: § [email protected] § WeChat：missruima
¡ Follow Us： ▪ @500Startups ▪ @davemcclure ▪ @ruima
¡ Website：www.500.co
