Techcrunch Disrupt Beijing
Hello from Beijing, were live at National Convention Center live blogging.
Robin Li Founder of Tencent is the first one up
Background Tencent or better yet known as QQ is the 4th largest internet company in the world and since its IPO, its increased 5000%.
A transformational IM product that is customized based on Chinese netizens preference.
Q&A
Techcrunch Staff:
Life, Death and Tencent. This means startups fate is either acquired by Tencent or destroyed by Tencent. Pretty much the formal Microsoft of China
Robin Li:
Tencent is primarily focused on Entertainment and Games.
Robin now wants Tencent to become a open platform, an open space for all developers to create value for China.
Techcrunch staff: So maybe the third option isnt going to be a variable going forward but a certain positive.
Robin Li:
Theres no way we can satisfy every niche of the entertainment and gaming business so we encourage everyone
For example theres also ecommerce that were looking at. There are many verticals that are highly specialized for example, diamond and luxury items, its an o2o (online to offline
o2o (online to offline)
Silicon Valley & China
Techcrunch Staff
Silicon Valley companies traditionally have not done well in China, they are stumbling quiet a bit. They come here to do JV but they still not successful. What is going on? One specific example is Groupon.
Robin
Groupon is a partner of ours so we cannot discuss some information in public
(Audience laughs)
Simply put, the primary mistake is not understanding the dynamics and the fast paced culture of internet business in China. Having a great idea just doesnt cut it here. Continue with Group buying as an example, its a huge market yes but there are so many competitors and these competitors dont wait. Even if you can be the first one to have the idea, you wont necessarily be the first one t! o market there will be hundreds of clones like group buying that will go online the same night or even the same hour as you.
Techcrunch Staff
Lets talk about your entrepreneur market.
Robin:
Telecom expertise, we wanted to be an outsourcing
QQ can
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