Tech in Asia: Our Picks for News of the Week [August 11, 2012]

For those of you not wrapped up in the Olympics and the astounding total of bronze medals my home country of Canada is winning, there was lots of technology news this week — ranging from startup news to bigger internet players to regular folks like you and me.

Steven’s pick: Yelp-like Dianping.com Secures Over $60 Million in Funding

China’s biggest Yelp-style site has long since expanded into much more. It’s now also the country’s fourth-largest daily deals business. And with $60 million extra in its pocket this week, it’ll be pushing into m-commerce (i.e. mobile) even more.

One other new story that will see ramifications, I reckon, before the end of the year, is the acquisition of an IM startup by China’s young phone-maker, Xiaomi. We expect it’s the start of a bigger push into social, possibly by growing its group messaging app to be more like Apple’s Facetime.

Rick’s pick: Amid Flooding in Philippines, Rescue Information Circulates Online

It can be difficult to focus on technology news when there’s a crisis going on in other parts of the world. Massive flooding in the Philippines resulted in the displacement of hundreds of thousands of people, and the need for many to be rescued. And while communication was challenging, folks relied on Twitter, Storify, Google Docs and People Finder, and even created their own solutions like RescuePH.com in an effort to get people to safety.

Charlie’s pick: China’s Dark PR: Time to Say Goodbye to Paid Censorship

Once again I humbly pick one of my own articles for News of the Week. But I do think this is a big deal, because it has brought to light something that — as I’ve written before — is happening everywhere that does a big disservice to Chinese consumers. Hopefully Baidu’s high-profile handling will be enough to start a sort of sea change, and cause corrupt employees at other internet companies to reconsider selling their company’s integrity for a little extra money.

Willis’s pick: StreetFood Tycoon: Philippine-Made iOS Game Hits 2.7M Downloads

Dianping’s $60 million funding is big news. So is LINE camera’s monstrous growth of 10 million users in 117 days! But for this week, I pick Philippines’ StreetFood Tycoon game which has attracted 2.7 million downloads so far. I don’t claim to understand the tech ecosystem in Philippines. But 2.7 million downloads? That should be huge for a startup in a growing ecosystem. It’s evidence that startups in the Philippines can be really big as well. After all, Twitmusic could do it. So we should expect even more awesome startups from the Philippines in the near future, I hope!

Enricko’s Pick: China Mobile Donates $2.1 Million to Children with Heart Disease

I don’t know China Mobile very well (being based in Indonesia), but when I read this news it just made me feel good. Big props to China Mobile for doing that. Sure, it’s always interesting to see and report new developments and milestones in technology, but stories about how they can change the world for the better are always special.

The post Tech in Asia: Our Picks for News of the Week [August 11, 2012] appeared first on Tech in Asia.

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Innovation Works Obtained $150M for Second Fund

Chinese incubator Innovation Works (IW) recently announced that it has completed raising US$ 150 million for its second fund “Innovation Works Development Fund II”. Last September IW finished its first internet-focused fund, obtaining a total of $180million. IW also revealed that its Shanghai branch will be opening soon.

Innovation Works was set up in late 2009 by former Google China head Kai-Fu Lee, focusing on early-stage high-tech investments. Out of its 50 investment portfolios, 18 secured Series A funding with two approaching the end of raising Series B. Currently there were 3 projects were deemed as failure, that’s how IW came up with a “95% of success”.

Days ago, Kaifu Lee was busy rebuffing the rumor that the incubator held too much stakes in the startups it invested into. Lee claimed that IW holds an average 17.6% of shares in its 50 investment portfolios.

Lee has always thought that the biggest trap for Chinese start-ups is that angel investors taking too much stakes, which would limit entrepreneurs’ control over their company and close the doors to excellent VCs. For example, Lee said on its Tencent Weibo recently that, “I found two very nice projects who have already got angels investments. They reached out to us for Series A round. We were so happy in the beginning until later on we found that the angels haven taken up to 75% of these two projects and refused to dilute their stakes. I think this is not an angel move, but a devil thing for the entrepreneurs. “

Related posts:

1. SAIF Partners China Invested $10M into Early Education Company
2. China’s Mobile Internet Feeling the Chill
3. VIPStore.com Raising New Round Led By Intel Capital

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Nico Nico Douga Hits 28 Million Users, Generates US$46 Million In Sales Last Quarter

Nico Nico Douga, Japan’s answer to YouTube, is still growing nicely, five years after launch.

Dwango, the Tokyo-based company behind the popular service, released its financial report [PDF] for the last nine months (ending in June 2012).

And according to the report, Nico Nico (the company’s most important asset) reached 28.08 million users in June. In other words, nearly a third of Japan’s online population has an account, which is pretty amazing.

Another interesting tidbit of information is that Nico Nico has 1.69 million premium members who pay 525 Yen (US$6.70) per month for advanced features, for example better video quality:

Here are more details about who is actually using Nico Nico. Observe Dwango’s claim that 90% of Japan’s population in their 20s is a user:

Nico Nico is profitable and generated 3.6 billion yen (US$46 million) in sales from April to June this year:

Nico Nico’s English version can be visited here.

Nico Nico Douga Hits 28 Million Users, Generates US$46 Million In Sales Last Quarter

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And the largest e-commerce company in India is..?

Here is a trick question: Which is the largest e-commerce company in India? Is it IRCTC? Flipkart? Nope. Hint: its not even a household name.

mjunction, an online market place for steel and coal, is little heard of outside certain circles, but the company easily dwarfs other e-commerce ventures by its sheer scale. A 50:50 joint venture company between the Steel Aurhority of India and Tata Steel, the company claims to have done transactions worth Rs  Rs 33,145 cr in the financial year 2012. It is now aiming to clock $ 10 bn worth transaction in FY 2013. The entire Indian e-commerce market is estimated to be worth a little over $ 10 bn currently.

The reason many people have not heard of the company is because it sells mostly to other businesses instead of selling to consumers directly. The company derives scale from the Tata group and SAIL, as the industry heavyweights begin to transact through mjunction.

Launched in 2001, the company now offers a large range of online services through sites like metaljunction(for primary, secondary steel), buyjunction (enterprise procurement services), coaljunction (forward e-auction of coal), autojunction (new and used car), straightline (electronics and consumer goods), valuejunction (electronic marketplace for assets).

Mjunction’s various businesses

2002: eSelling, eSourcing, Channel Finance
2003: eAsset Sales
2004: Receivable Purchase
2005: Events & Conferences, BPO eSelling
2006: Coal Sales, Logistics
2007: Auto eSales, straightline, Publications, Buyer Finance, Procurement KPO
2008: Auto eRetail, Enterprise Procurement System
2009: High-end Industry Reports, Hindi Publications
2010: Foray into overseas market, Launch of Coal Spot Price Index
2011: Corporate Gifting/ Loyalty Program, Auto Accessories eSales

The online b2b market looks like a very large opportunity overlooked by many. Will we see more such companies entering the fray?

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Understanding Business Incorporation options available in India

Puzzled about which business type is right for your venture? In this episode, the eLagaan team discusses various entities/incorporation options available in India for doing business, the possibilities and limitations associated with each; factors you should keep in mind before taking a call on this etc.

This takes some of the myths heads-on and discusses the factors you should consider not from just short term perspectives but keeping a balance about both short and long term so that you donot end up loosing the most critical items – time and money – in making those transitions when opportunities knocks.

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7 steps to seize changing opportunities in your industry

(Credit: photographerglen)

Today’s economic climate is challenging for any corporation. One industry seems particularly lost — film. Unfathomable budgets have led to major losses and far fewer successful franchises. Home entertainment distribution virtually imploded with on-demand, Redbox, and iTunes. 3D is being forced on the public (and theater operators), but many are still skeptical of the price. And during this unstable time, Disney CEO Bob Iger fired the chairman of Disney Studios, arguably the most beloved major studio, leaving many inside and outside the industry to speculate on what’s next for the company. Applicable to any modern corporation, my only thought is one word: opportunity.

Based on these actions, I hope Iger has recognized the socioeconomic trends all businesses should be considering and is preparing for major restructuring, which has started with announcing a former Warner Bros. executive Alan Horn as the new chairman. Horn has had tremendous success with recent franchises like Harry Potter. However, the world is far less organized, and its people far more connected, than even two years ago when that franchise wrapped.

Any organized field needs to find its place in the rapidly evolving world order, and every company within that field must maintain its standing in that order. Here’s how I believe forward-thinking executives can lead the way:

- Commit to quality over quantity, both in company size and product development. With hugely profitable websites being run by 1-2 people, thousands of employees don’t make you powerful. They make you expensive, necessitating an ambitious output schedule. Keep only those truly dedicated experts and ask them be accountable and resourceful; put out only those quality products which the group can confidently, passionately promote.

- Become less organized. Organizational charts and major divisions were designed for the railway system. Each individual should bring an expertise to a team, and teams should be flexible enough to allow everyone involved in a project to discuss it from conception throughout development. Nothing new, including a film, should be executed in assembly-line fashion.

- Make everyone an Imagineer. It should be part of everyone’s job description in some way, rather than a title. Each individual has a responsibility to look at the world around them and consider ways to make it more effective, enjoyable, and interesting. Sure, they may need to collaborate with someone else to execute on it, but that’s the next point.

- Collaborate more:

…with the audience. Listen first. For example, do text-sentiment analysis in social media. Once you better understand the audience, introduce yourself and start contributing. Once you’ve built rapport, start asking questions. Give value, receive value. The masses may not invent the blockbuster idea, but they can certainly help the experts refine it into something with which they’ll engage (and, ultimately, make profitable).

…externally. Pay attention to those on the edge: the inventors, entrepreneurs, and influencers in niche areas. As recent years have proven, their output is having a major impact on the socioeconomic landscape. They probably won’t have the titles or expense accounts you are used to, but they may help you stay competitive.

…internally. Set common goals and ask a wider variety of experts to consider them. Just because an individual’s title has nothing to do with the issue at hand doesn’t mean they don’t have ideas about a solution. Ask the team at 37signals.

- Build relational-strategic marketing campaigns. Don’t tell me how I should feel about something. Don’t tell me what old critics think about your content. Build relationships with my friends and family. Ask us questions. Ask us for contributions. Consider and respond to our feedback. Provide us with useful and entertaining ways to incorporate your brand into our everyday lives.

- Don’t nurse an ego. I know it’s hard in Tinseltown, but your rivals don’t buy and socially promote your output. The rest of the world can. Making yourself look important doesn’t make you valuable to your primary audience. Quality output, showing evidence of passion for, interest in, and collaboration with your intended audience does. Break down barriers, rather than building them.

- Keep it simple. “Pirates of the Caribbean” was a ride long before a staff writer turned it into a one-sheet concept that Johnny Depp liked. Build something simple and test the concept in collaboration with the audience. When they beg for more, create it. Don’t spend millions creating complex initiatives no one asked for and stockholders will be ready to grill you about.

I worked for the Mouse in 2008 and am a passionate advocate of the brand, but there is no denying that this has not been Disney’s greatest year. They are not alone, however, and I hope Iger and Horn will collaborate together and with other experts to develop a modernized structural plan that shall lead The Walt Disney Studios into a successful future, which other organizations (big and small) can follow.

This post was originally published on YEC.

About Emily Eldridge

Emily Eldridge is the CEO of Book’d, the clever online booking engine coming to market in October 2012, and co-Founder of The Agency Post, an international marketing community focused on collaborative learning and innovation, and also leads other entrepreneurial endeavors in the strategic communications and technology industries.

The Young Entrepreneur Council (YEC) is an invite-only nonprofit organization comprised of the world’s most promising young entrepreneurs. The YEC recently published #FixYoungAmerica: How to Rebuild Our Economy and Put Young Americans Back to Work (for Good), a book of 30+ proven solutions to help end youth unemployment.

Link to full article

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7 steps to seize changing opportunities in your industry

(Credit: photographerglen)

Today’s economic climate is challenging for any corporation. One industry seems particularly lost — film. Unfathomable budgets have led to major losses and far fewer successful franchises. Home entertainment distribution virtually imploded with on-demand, Redbox, and iTunes. 3D is being forced on the public (and theater operators), but many are still skeptical of the price. And during this unstable time, Disney CEO Bob Iger fired the chairman of Disney Studios, arguably the most beloved major studio, leaving many inside and outside the industry to speculate on what’s next for the company. Applicable to any modern corporation, my only thought is one word: opportunity.

Based on these actions, I hope Iger has recognized the socioeconomic trends all businesses should be considering and is preparing for major restructuring, which has started with announcing a former Warner Bros. executive Alan Horn as the new chairman. Horn has had tremendous success with recent franchises like Harry Potter. However, the world is far less organized, and its people far more connected, than even two years ago when that franchise wrapped.

Any organized field needs to find its place in the rapidly evolving world order, and every company within that field must maintain its standing in that order. Here’s how I believe forward-thinking executives can lead the way:

- Commit to quality over quantity, both in company size and product development. With hugely profitable websites being run by 1-2 people, thousands of employees don’t make you powerful. They make you expensive, necessitating an ambitious output schedule. Keep only those truly dedicated experts and ask them be accountable and resourceful; put out only those quality products which the group can confidently, passionately promote.

- Become less organized. Organizational charts and major divisions were designed for the railway system. Each individual should bring an expertise to a team, and teams should be flexible enough to allow everyone involved in a project to discuss it from conception throughout development. Nothing new, including a film, should be executed in assembly-line fashion.

- Make everyone an Imagineer. It should be part of everyone’s job description in some way, rather than a title. Each individual has a responsibility to look at the world around them and consider ways to make it more effective, enjoyable, and interesting. Sure, they may need to collaborate with someone else to execute on it, but that’s the next point.

- Collaborate more:

…with the audience. Listen first. For example, do text-sentiment analysis in social media. Once you better understand the audience, introduce yourself and start contributing. Once you’ve built rapport, start asking questions. Give value, receive value. The masses may not invent the blockbuster idea, but they can certainly help the experts refine it into something with which they’ll engage (and, ultimately, make profitable).

…externally. Pay attention to those on the edge: the inventors, entrepreneurs, and influencers in niche areas. As recent years have proven, their output is having a major impact on the socioeconomic landscape. They probably won’t have the titles or expense accounts you are used to, but they may help you stay competitive.

…internally. Set common goals and ask a wider variety of experts to consider them. Just because an individual’s title has nothing to do with the issue at hand doesn’t mean they don’t have ideas about a solution. Ask the team at 37signals.

- Build relational-strategic marketing campaigns. Don’t tell me how I should feel about something. Don’t tell me what old critics think about your content. Build relationships with my friends and family. Ask us questions. Ask us for contributions. Consider and respond to our feedback. Provide us with useful and entertaining ways to incorporate your brand into our everyday lives.

- Don’t nurse an ego. I know it’s hard in Tinseltown, but your rivals don’t buy and socially promote your output. The rest of the world can. Making yourself look important doesn’t make you valuable to your primary audience. Quality output, showing evidence of passion for, interest in, and collaboration with your intended audience does. Break down barriers, rather than building them.

- Keep it simple. “Pirates of the Caribbean” was a ride long before a staff writer turned it into a one-sheet concept that Johnny Depp liked. Build something simple and test the concept in collaboration with the audience. When they beg for more, create it. Don’t spend millions creating complex initiatives no one asked for and stockholders will be ready to grill you about.

I worked for the Mouse in 2008 and am a passionate advocate of the brand, but there is no denying that this has not been Disney’s greatest year. They are not alone, however, and I hope Iger and Horn will collaborate together and with other experts to develop a modernized structural plan that shall lead The Walt Disney Studios into a successful future, which other organizations (big and small) can follow.

This post was originally published on YEC.

About Emily Eldridge

Emily Eldridge is the CEO of Book’d, the clever online booking engine coming to market in October 2012, and co-Founder of The Agency Post, an international marketing community focused on collaborative learning and innovation, and also leads other entrepreneurial endeavors in the strategic communications and technology industries.

The Young Entrepreneur Council (YEC) is an invite-only nonprofit organization comprised of the world’s most promising young entrepreneurs. The YEC recently published #FixYoungAmerica: How to Rebuild Our Economy and Put Young Americans Back to Work (for Good), a book of 30+ proven solutions to help end youth unemployment.

Link to full article

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Bu Yi Hopes the One-T-Shirt-Per-Day Formula Will Work in China

The idea of starting an e-commerce site that just sells one thing a day isn’t exactly new. Nor is the idea of making that thing a t-shirt. But can the formula be successfully copied to China? The self-described “design nuts” behind Bu Yi, a new Chinese shirt-a-day startup with a user-generated design twist, are hoping so.

The site (pictured) is what you’d expect: a few pictures of the day’s design and a fun Q&A with the designer lower down on the page. All the shirt designs are user-submitted and handpicked by the Bu Yi team. Unlike some sites like this, Bu Yi really means business with its one day restriction: when the day is over, that shirt is no longer on sale, and will never be sold again. Users can submit their own shirt designs via email or through Douban and in return receive “a share of the profits” if their t-shirt design is chosen and actually sells. The size of that share, though, is not clear. Bu Yi also allows designers to keep their design’s IP, but they do have to sign a contract that gives Bu Yi exclusive rights to use the design. So basically, if you send Bu Yi your design and the company chooses it, you can’t ever use that design for any other product. That’s not very cool.

So, are the shirts actually selling? Well…sort of. The site has only been around a few weeks, and has only offered ten designs. Days one and two saw 23 and 17 sales respectively, but since then, the site has yet to break double-digit sales on any design. Whether that’s a problem with the designs or a lack of interest in Bu Yi’s isn’t clear. It could also be a price issue, at 65 RMB ($10) they’re somewhat cheap by Western standards, but in China that’s a lot to pay for a no-brand t-shirt.

Frankly, I think the execution here is not great. The site looks slick and is very easy to use, so that’s nice, but the designs they’ve had so far are nothing special, and for a company that claims to love design, they sure seem interested in screwing designers over. If you really love design, why not make it clear what share of profits designers can expect? And why not ask them to grant Bu Yi non-exclusive distribution rights so that when their shirt’s one day on sale ends, designers can use their design elsewhere if they want (maybe not on t-shirts but on something). Exclusivity is cool, but when you’re only offering “a share” of the profits on such a tiny number of sales, what’s in it for designers? And without good designers, how is the site ever going to grow?

It’s also worth asking how these shirts are being produced. Given that they’re selling in such small numbers right now, I can’t imagine that they’re being screen-printed, as that costs a lot of money and thus is usually done in bulk. If they are screen-printing each day’s design, that means Bu Yi is probably losing a good deal of money, and stacking up more unsellable t-shirts each day that some shirts go unsold. But made-to-order shirts produced with heat transfer or other cheap one-time printing techniques aren’t as long-lasting, and can wear out after a few years of washing. Bu Yi doesn’t really make it clear how its shirts are printed, but the company does promise the shirts are 100 percent cotton and aren’t poisonous. So I guess that’s something.

The urgent nature of one-day-gone-forever sales could work well in China, and mixing that with user-submitted designs is kind of cool, but I can’t help but feel like Bu Yi is going to have to be a bit more clear about how its shirts are made and a bit more straightforward with designers before this startup can really go anywhere.

The post Bu Yi Hopes the One-T-Shirt-Per-Day Formula Will Work in China appeared first on Tech in Asia.

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Dianping Confirmed $60Millions Series D Funding

Only one year ago, Dianping, the Chinese Yelp-like service announced its amazing $100millions funding which gave the company ~$1billion valuation. Despite that Zhang Tao, CEO of Dianping recently said to the public the company still had good amount of cash, today Dianping confirmed its $60millions Series D funding. It’s also reported that the new valuation is a little more than $10b.

Dianping’s founded back in April, 2003. By Q2 2012, Dianping has offered its service to over 2300 cities/towns in China, has over 1.5millions merchants registered in its database. Thanks to the fast growth of mobile Internet and Group-buying model, now the number of monthly active users has reached 48millions, its mobile applications also claims over 40millions users. According to Long Wei, VP of Dianping, the traffic to Dianping mobile already exceeded the traffic to its website. The company claims break-even in November 2008, now has around 3000 staff nationwide.

One more interesting fact we found out is that at early stage, Dianping also received $4m investment from Google. I guess Google should be proud of this, event itself is not really in China right now, it’s still the share holder of the most popular Chinese “local King”.

There is no doubt that the money raised from the new round will be mainly used for Dianping’s expansion in mobile Internet. The question still waits to be answered is that with $1bn valuation, when will Dianping be able to get listed?

Related posts:

1. Innovation Works’ Start-up, Doodle Mobile Raises US$10 million in Series A Funding
2. Dianping raises $100mln at $1bln valuation, postpone IPO plan
3. Dianping Valuation Reach US$800 million – too Expensive or Not?

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