Gary Rieschel, Qiming
Hans Tung, GGV
Veronica Wu, Hone
Shuonan Chen, Agile VC
Lee Chang, Baidu
Nick Adams, AME
Chris Evdemon, Sinovation
Gareth Keane, Qualcomm
New York City
September 9, 2017
|Social E-Commerce Scales Big In China
It's clear by now that some of the more advanced business models in mobile communications and commerce are coming from China.
Take China's fast-growing social e-commerce startup Xiaoshongshu (Little Red Book) as the last example. It's a combination of Instagram and Amazon, featuring content that is all generated by
community of users who post a vertical feed of scrollable photos with captions to spark online sales of the merch
"Most of our users are born after 1995. RED is a very young community and represents the lifestyle of the next generation," said Miranda Wang, a co-founder of RED, who will be speaking at
RED started out in 2013 as a community platform and later was transitioned into an e-commerce platform for international fashion brands such as L'Oreal and Estee Lauder seeking to enter the Chinese market. That was a big move, spurred on by the startup's venture investors GGV Capital and ZhenFund.
GSR Ventures and Gobi Partners have joined a $5 million, first funding of DeepBrain, a four-month-old startup in Shanghai that combines artificial intelligence and blockchain technologies as China continues to surge ahead in AI innovation and investments.
To wit, Sequoia Capital China, Jack Ma-backed Yungeng Capital and Temasek have invested a hefty $240 million in an AI-powered genomics platform WuXiNextCode, a merged contract research outsourcing firm with offices in Shanghai and Cambridge, Mass.
Oyo founder with Softbank's Masayoshi Son
Softbank Vision Fund has co-led a $250 million, Series D investment in Indian budget hotel aggregator Oyo in Gurgaon, along with existing investors including Sequoia Capital India and Lightspeed Ventures Partners. Softbank is betting big on India, aiming to put $100 billion in this Silicon Tiger nation. This latest deal in India follows Softbank's mega $2.5 billion investment in India's leading e-commerce site
FlipKart, which earlier raised $1.4 billion from major players Tencent, eBay and Microsoft to battle its aggressive rival Amazon India.
Airbnb is doubling its investment in China, tripling its local hires and strengthening cooperation with the Chinese government as the home sharing service continues its expansion in China, where year-on-year growth is nearing 300 percent. Airbnb seems to be a role model for American brands in China.
Baidu COO Qi Lu
How Baidu Will Win China's AI Race -and, Maybe, the World's, Wired in interview with COO Qi Lu:
Michael Moritz, Sequoia Capital
A week in China is enough to persuade anyone that the world has spun back to front. The benefits of immigration, the quest for fresh discoveries, the desire for education, the recognition of the benefits of stability, purpose and enterprise are flourishing in China at the very time that they are being maligned, belittled or ignored in the US by Donald Trump.
Financial Times, by Michael Moritz, partner, Sequoia Capital, Silicon Valley
Why startups thrive in China but not so much in South Korea and Japan.
Medium, by Benjamin Joffe, general partner, HAX, Shenzhen
Why My Former Colleague Dan Schwartz
Is Running for Governor of Nevada
What's the China Connection?
Read how Schwartz, as State Treasurer, fought plans by China's Faraday Future in Nevada