Tainiqi Zhu admits that the Chinese market might not be ready for second-hand clothing, but he’s willing to make a bet on its potential. “In mainland China, there’s a problem of trust and communication,” says Mr. Zhu. “And even after you convince someone, you still have to negotiate the price. There’s a huge culture of bargaining.” Mr. […]
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These 4 failed directions make what ofo it is now
The best success stories often begin with failures. What we see are the hefty funding rounds, skyrocketing valuations; what we overlook are the embarrassing first efforts, setbacks and radical change of directions. Ofo, the first company bike rental company to gain unicorn status in the emerging sector, meets nearly every definition we have for a successful […]
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And the ChinaBang 2017 Awards go to …
It’s that time of the year again: the festive weekend for Chinese techies, startup entrepreneurs and investors alike. ChinaBang Awards, an annual ceremony recognizing the best startups in China, is on the go. To continue last year’s initiative in finding out the amazing startups nationwide- not just 1st tier cities, this year’s ChinaBang Award ceremony […]
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Smartphone Upcycling Gains Momentum In China As Users Trade Phones Every 18 Months
If you are one of those hardware fans who’s always itching to get the latest device whenever there’s a new update, you’ll probably have one of those junk drawers spewing out tentacles of wires and gadgets that are covered in dust. Among them, a bunch of old smartphones — sound familiar? That’s exactly the case with many Chinese citizens […]
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China’s answer to Amazon Go aims to conquer the unmanned frontier with facial recognition
Long-waited Amazon Go opened its door to the public in Seattle last week and there has been overall positive feedback. However, unmanned stores are definitely not a new concept for China’s tech-savvy consumers. Since May 2017, when Alibaba launched its first unmanned store with the focus word “new retail”, a flurry of Chinese tech companies has […]
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China’s Craglist 58.com To Invest 100 O2O Startups: Here’s the List… So Far
Chinese local listing site 58.com, which Tencent holds a stake in, is among the most active investor and acquirer of Chinese internet startups this year in an attempt to drive its O2O initiative. A total of $1.5 billion USD funding was injected in various projects since the beginning of this year, said 58.com Chief Strategy Officer Chen Xiaohua […]
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4 take aways from 34 new Chinese unicorns in 2017: IT Juzi report
A “unicorn” refers to those companies less than 10 years old and valued at $1 billion or more. There were 34 Chinese new unicorn companies in 2017 that match these conditions, according to a new report released by Chinese startup database IT Juzi (IT桔子). In the first half of 2017, rental economy startups gained prominence […]
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We went to Alibaba’s Computing Conference to check out the future of the Ali ecosystem
China’s e-commerce giant Alibaba not only wants to be the best e-commerce player in the market, but also wants to deepen its technological prowess. At Alibaba’s annual Computing Conference 2017 held in Hangzhou on October 11th, not only did the company unveil its plans to invest $15 billion over the next 3 years in its R&D, […]
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Taipei-based citiesocial is addressing new trends in Asian e-commerce, backed by Alibaba
Shopping is one of the most popular online activities worldwide. This is even truer in Asia—a region where digital development is taking off in developing e-commerce markets such as Thailand and India, and online retail continues growing strongly in mature markets like Japan, Hong Kong, and China. Asia’s e-commerce industry is thriving and the outlook seems […]
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We tried Starbucks Roastery’s AR game, and this is what we think
The practice of drinking tea has a long history in China, having originated there during the Tang Dynasty. But in 2017, the practice of drinking coffee could be adding a new chapter to its history in China. For those living in Shanghai, last week’s WeChat Moments were filled with Shanghai locals posting pictures and selfies […]
