The Tech Rush - Back to China
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Transcript of The Tech Rush - Back to China
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The Tech Rush � Back to China
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The Low Down • Who am I? • How big is it really? • Where is the action? • Who are the major players? • What are the trends? • Who are the new players? • What does the funding market look like? • Is there innovation in China? • How do I jump in?
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Who is Jason Lim?
http://jaezen.flavors.me/ Forbes.com/sites/jlim @jaezenlim
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How big is it really?�
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The BIGGEST!
618 M Internet Users (from 591 M)
500 M Mobile Internet Users (from 460 M)
302 M Internet Shoppers (from 242 M)
300 B US$ E-Commerce Sales (from 209 B)
13.5 B US$ Online gaming revenue (up 246%)
Source: 2013 CNNIC, iResearch
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Where is the action?
Beijing
Shanghai
Shenzhen
Chengdu
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Tech Temple by Infinity Ventures
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Who are the major players?�
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B.A.T
• ~80% Mkt Share • $57 B Mkt Cap • Robin Li (98th richest
in world)
• Alibaba, Taobao, Tmall, Alipay
• 2x Amazon • 3x eBay • 80% of all China
online sales • $7.9 B 2013 Revenue • Set to be biggest IPO
since FB with a $168 B valuation
• Jack Ma (122nd richest in world)
• QQ, Q Zone, WeChat • $126 B Mkt Cap • $9.9B 2013 Revenue • More cash in bank
than FB & Google • Pony Ma (Richest
man in China Tech)
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What are the trends?
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Online Gaming
60% (33% mobile) Penetration 266M Gamers playing at least 2 hours/month 73% Male Action RPG/1st Person Action 64% spend money each month – virtual goods Tencent/NetEase Biggest Players
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Online Videos
80% penetration 450 M Online Viewers & 5.7 B Hours/month $1.9 B Revenue in 2013 73% revenue from ads 76% prefer online compared to TV Youku/Tudou and Sohu Biggest Players
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Social Networking
91% penetration (US 67%) 597 M active users 30% are 26-30 y.o 38% make buying decisions based on SNS 113M Weibo MAU (Twitter: 213 MAU) 396M WeChat MAU (WhatsApp: 450 MAU)
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E-Commerce
242 M online shoppers (more than US) $181 B 2013 B2C Ecommerce Sales Because its cheaper 61% 18-30 y.o 68% buy clothes & accessories Tmall, JingDong biggest players $5.75B Taobao & Tmall Singles Day 2013
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Who are the new players?�
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• “Apple of China” • Cheap Android • Smart TV • 3 years old • $10B valuation • 15 M units • Sold 150K units in 10
mins on Weixin • Lei Jun
• Android app distributor/content discovery
• 3 years old • >200 employees • Raised $120M Series
B • Incubated by
Innovation Works
• Taxi app • 2 years old • 350k bookings/day • 100M users • 900K rego drivers • 178 cities • Backed by Tencent
Xiaomi Wandoujia Dididache
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What does the funding landscape look like?
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• Incubators: – Innovation Works – China Accelerator – HAXL8R – TiSiWi
• Angels: – ZhenFund – TaishanXD – Pre-Angel
• VCs: – Sequoia – IDG Accel – GSR, KPCB, DCM, Matrix
• 200 new funds – 95% RMB – 5% USD
• US$6.9B invested • 1,148 investments
– 50% early stage – 20% internet companies
• 230 exits – 33 IPO – 76 M&A
• Most depressed state since 2010 – Backlog of exits – Slower economy – OS investment slowed
Source: Zero2IPO
WHO IN 2013
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Is there innovation in China?
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Source: Wipo.net
• BEFORE : copy > innovate • NOW: design > make • Fast path to revenue – Meilishuo • SNS by verticals – Douban • BGI – Human genome DNA sequencing • CooTek – TouchPal Smartphone keyboard now
used in Mercedez cars and Sony cameras • 3rd largest applicant of patents • ZTE – 2nd highest number of patents
YES!
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How do I jump in?
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Proceed with Caution
• Watch and learn – Webbehindthewall.com – Technode.com – Techinasia.com
• Meet people at events/meet-ups • Get a Chinese partner • What is it like to live there • Visas