20 Things to Know About China Startups
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This document discusses opportunities for technology startups in China. It provides background on China's large population and rapid growth of the internet and mobile markets. Edith Yeung of 500 Startups discusses her experiences investing in over 40 Chinese startups focused on mobile, VR/AR, AI and machine learning. She explains that China has 38 unicorn startups and is home to large internet companies like Baidu, Alibaba and Tencent. The document outlines challenges such as regulations, competition and cultural differences but argues the China market remains very promising for technology investors and entrepreneurs.
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20 Things to Know About China Startups
- 1. CONFIDENTIAL / / JUNE,2017PAGE1 // 500 Startups + China Trends June 27 2017 CONFIDENTIAL
- 2. CONFIDENTIAL / / JUNE,2017PAGE2 Edith Yeung is the head of 500 Greater China and 500 Startups Mobile Collective and invested in over 40 mobile, VR, AR, AI and machine learning startups. Before 500, Edith was the VP of marketing & business development for Dolphin Browser. Dolphin Browser is a Sequoia-backed mobile browser with over 150 million installs worldwide. She also founded RightVentures - seed stage investment firm focusing on mobile and consumer internet companies. Prior, she led many operation roles at Oracle, Siebel, AT&T, Symantec, Telstra, Cisco, Autodesk, etc. Edith Yeung | @edithyeung | edith.co
- 3. CONFIDENTIAL / / JUNE,2017PAGE3 / Since July 2010 500 Startups Is the Most Active Technology Investor in the World1 The various geographies highlighted in the map result from investments we have made across all 500 Startups funds. 1. CB Insight https://www.cbinsights.com/blog/2015-early-stage-investors/ 2. Approximated as of 05/16/2017 and includes the following 500 Startups funds: (a) 500 Startups, L.P. and 500 Startups-A, L.P. (together, “Fund I”), (b) 500 Startups II, L.P. and 500 Startups II-A, L.P. (together, “Fund II”), (c) 500 Startups III, L.P. and 500 Startups III-A, L.P. (together, “Fund III”), (d) 500 Startups IV, L.P. and 500 Startups IV-A, L.P. (together, “Fund IV”), (e) 500 Startups Annex Fund , L.P. (“Annex”), (f) 500 Luchador es, L.P. (“Luchadores”), (g) 500 Durians, L.P. (“Durians”), (h) 500 Mobile Collective, L.P. (“Mobile Collective”), (i) 500 Kimchi, L.P. (“Kimchi”), (j) 500 TukTuks, L.P. (“TukTuks”), (k) 500 Startups JP, L.P. ("Japan”), (l) 500 Startups Istanbul, L.P. ("Istanbul”), (m))500 Luchadores II, L.P. (”Luchadores II”), (n) 500 Startups Canada, L.P. (“Canada”) and (o) 500 Durians II, L.P. (“Durians II”), 500 Startu ps Vietnam, L.P, (“Vietnam”) and 500 Falcons, L.P. (“Falcons”), and 500 Fintech, L.P. (“Fintech”). $330M+ in Capital Committed2 1,700+ Portfolio Companies
- 4. CONFIDENTIAL / / JUNE,2017PAGE4 / CONFERENCES + EVENTS1 More than 50 events with 300-1,000 attendees per event, for a total reach of over 35,000 people in person + digital channels2 Design, technology, marketing, and product experts from top companies in Silicon Valley and elsewhere From 50+ countries around the world, our founders provide peer review and feedback on products, industry verticals, platforms, etc. 250+ 3,000+ MENTORS FOUNDERSATTENDEES 35,000 EVENTS 50+ 1. Conferences and Events are produced by 500 Startups Incubator, L.L.C. The 500 Startups funds do not participate in any revenue generated by these activities. 2. The numbers represented on this page provide a snapshot of some of our Community-building platforms as at a particular time. They are estimated as of March 31, 2016 and may change from time to time. 500 Startups Is the Largest Startup Network and Community Platforms Globally COMMUNITY
- 5. CONFIDENTIAL / / JUNE,2017PAGE5 500 Startups Is Well Connected in Both US and China Edith Yeung 500 China Fund 1. “Millions of millennials are reading six-minute horror stories told entirely in the form of text messages” 2. “Chewing the Fat with Norma Chu” Detail with regard to financing of DayDayCook can be found on TechInAsia 3. “Flesky Acquired by Pinterest” Edith invested in Flesky via Right Ventures, where she is a founder. 4. “Mapbox is acquiring passive fitness tracking app Human” Detail with regard to financing of Human can be found on Angel.co 5. Edith has been an advisor at Agora since 2014 * Note: Dave McClure will not directly be involved in the management of 500 Startups China. FOUNDING PARTNER GLOBAL / SILICON VALLEY 25 years in SV as entrepreneur + investor Dave McClure* Bonnie Cheung Our Network Expands Across Industries and Continents 500 China Fund
- 7. CONFIDENTIAL / / JUNE,2017PAGE7 China by the numbers • Over 1.38 billion in population • 691 million smartphone subscribers as of July 2015 • 260 million people live in just 15 Chinese cities • 706.7 million WeChat monthly active users • 38 unicorn companies since 2011 • Over 200 app stores in China • Apple sold over 13 million units of iPhone in China only over a weekend in September 2015 Source: Unicorn list - https://www.cbinsights.com/research-unicorn-companies
- 8. CONFIDENTIAL / / JUNE,2017PAGE8 Edith Yeung | @edithyeung | edith.co China Government-backed Venture Funds raised $231 Billion
- 9. CONFIDENTIAL / / JUNE,2017PAGE9 China is Home of 38 Internet Unicorns Edith Yeung | @edithyeung | edith.co Source: CBInsights Top 10 most funded startups in China (as of Q1 2016): • Didi Kuadi (Uber of China) raised $4.8 billion • Ant Financial (Paypal of China) raised $4.5 billion • Meituan (Groupon) + Dianping (Yelp) raised $3.3 billion • Xiaomi raised $2.4 billion • Ele.me (food delivery) raised $2.42 billion • Cainiao (logistics) raised $1.54 billion • Lufax (lending club of China) raised $1.38 billion • LeSports (entertainment) raised $1.12 billion • Ly.com (travel) raised $1.05 billion • Zhongan Baoxian (online insurance) $934 million
- 10. CONFIDENTIAL / / JUNE,2017PAGE10 Edith Yeung | @edithyeung | edith.co Chinese M&A nearly tripled from $259 billion in 2013 to $735 billion in 2015
- 12. CONFIDENTIAL / / JUNE,2017PAGE12 China is Tough • Regulatory barriers. Google vs. Baidu • Device fragmentation. It’s an Android world • Fraud. Fake users, fake installs and fake rides • Language barriers. No English • Great firewall. No Google, Facebook or Twitter.
- 13. CONFIDENTIAL / / JUNE,2017PAGE13 13 40% of its 1.4 billion population still live in the countryside, many in poverty worldwide
- 20. CONFIDENTIAL / / JUNE,2017PAGE20 20 Things You Should Know about China Startups & Internet Landscape Edith Yeung | @edithyeung | edith.co
- 21. CONFIDENTIAL / / JUNE,2017PAGE21 Chinese Naming 101 领英 优步 Elegant Ride Best Talent I want Jobs51
- 22. CONFIDENTIAL / / JUNE,2017PAGE22 Joint Venture is Common in China. US companies often raised $$ separately in China.
- 23. CONFIDENTIAL / / JUNE,2017PAGE23 23 Meet the World of the BAT Source-http://www.smithstreetchina.com/content_multimediaInfoShow/Battle-Between-Alibaba-Tencent-And-Baidu-to-Conquer-the-Virtual-World.html
- 24. CONFIDENTIAL / / JUNE,2017PAGE24 With over 700M, China Communication is All About WeChat - Socialize Chinese Style Uber official accounts on Wechat
- 25. CONFIDENTIAL / / JUNE,2017PAGE25 1. WeChat (Messenger) 2. Weibo (Twitter) 3. Renren (Facebook) 4. Kaixin (Facebook) 5. Tencent’s Weibo (Twitter) Other than WeChat, There Are Other Ways to Socialize
- 26. CONFIDENTIAL / / JUNE,2017PAGE26 China is #1 Mobile Payment Country and Alipay #1 payment option with 500M users
- 27. CONFIDENTIAL / / JUNE,2017PAGE27 Edith Yeung | @edithyeung | edith.co Chinese Loves Mobile Game. NetEase earned over $800M in China with Fantasy Westward Journey Game (夢幻西遊)
- 28. CONFIDENTIAL / / JUNE,2017PAGE28 China Surpasses US/Japan and Become #1 Country in terms of Mobile Revenue (ARPU) on iOS in 2016 Edith Yeung | @edithyeung | edith.co Source: AppAnnie
- 29. CONFIDENTIAL / / JUNE,2017PAGE29 China is All About All-In-One Apps 1. News apps (今日头条) 2. Messaging apps (WeChat) 3. Dating apps (陌陌, or Momo) 4. Weather apps 5. Map apps Baidu Maps integrated with Uber
- 30. CONFIDENTIAL / / JUNE,2017PAGE30 China mobile is all about 3rd Party App Stores 360 Mobile Assistant 360 手机助手 91 Assistant 91 助手 Xiaomi MIUI App Store Wandoujia 豌豆 Anzhi 安智官网 Huawei App Store Himarket 安卓市场 vivo手机助手 Uber on Chinese app store with keywords including all cities available
- 31. CONFIDENTIAL / / JUNE,2017PAGE31 China Marketing is Super Grassroots 腾讯广点通 - Tencent 百度移动网盟 Baidu Union 新浪粉丝通 – Sina Fan Network 多盟- Domob 有米 – Youmi 力美 – Limei Source: Photo - http://www.cultofmac.com/311171/crazy-iphone-rig-shows-chinese-workers-manipulate-app-store-rankings/ Fake installs generation process ☺
- 32. CONFIDENTIAL / / JUNE,2017PAGE32 China Loves QR Code • QR code is extremely popular • Street campaigns • Coupon codes • Fliers • Booth babes
- 33. CONFIDENTIAL / / JUNE,2017PAGE33 51% of Chinese are using mobile apps to hail rides
- 34. CONFIDENTIAL / / JUNE,2017PAGE34 Chinese Believes in US Education . Edith Yeung | @edithyeung | edith.co
- 35. CONFIDENTIAL / / JUNE,2017PAGE35 Chinese Loves to Shop. Alibaba’s Single Day generated about $14 billion in 24 hours Edith Yeung | @edithyeung | edith.co
- 36. CONFIDENTIAL / / JUNE,2017PAGE36 36 China’s live-streaming industry more than doubled in 2016 with revenues of around $3 billion. Nearly half 710M internet connections used live-streaming apps
- 37. CONFIDENTIAL / / JUNE,2017PAGE37 China loves Genomics. BGI Genomics raised $320M from Sequoia China & Shenzhen Capital Edith Yeung | @edithyeung | edith.co Source: CBInsights
- 38. CONFIDENTIAL / / JUNE,2017PAGE38 China Loves Autonomous Vehicles Edith Yeung | @edithyeung | edith.co
- 39. CONFIDENTIAL / / JUNE,2017PAGE39 In 2018, China will account for more than one- third of the industrial robots installed worldwide. . Edith Yeung | @edithyeung | edith.co
- 40. CONFIDENTIAL / / JUNE,2017PAGE40 China is Willing to Pay. iQIYI reaches 20 Million Subscribers Edith Yeung | @edithyeung | edith.co
- 41. CONFIDENTIAL / / JUNE,2017PAGE41 Edith Yeung | @edithyeung | edith.co China is Calling You.
- 42. CONFIDENTIAL / / JUNE,2017PAGE42 You can find me at: • Email edith@500startups.com • Twitter @edithyeung • Newsletter http://www.edith.co/#newsletter Edith Yeung | @edithyeung | edith.co