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Everyone knows China has a lot of internet users.
Those successful internet startups in the world markets will choose China as a strategic potential market.
However, Culture matters enormously, most of the internet titans failed in China, please check my previous blog: Failures of Global Companies in China: Ignorance of the Market Differences in China
In the mean time, most of their Chinese counterparts are emerging, and some are growing really fast.
The truth is that you can follow my 7-Step Formula in Ultimate Guide to Finding Your Profitable Niche Market in China to uncover your profitable business opportunities in China.
I am trying to make a full list of such same business with different names in the world and in the China market.
eBay: Taobao.com (“The eBay of the East”)
Taobao.com was founded in 2003 by Alibaba, the Chinese e-commerce company, as a defensive move against its US rival Ebay, which had set up in China the previous year.
While Ebay China was charging users to list products and services, Taobao allowed them to list for free in order to build a big cohort of sellers and buyers.
The result is, Taobao developed into a diverse e-commerce platform where businesses sell a very wide range of items to online shop owners who then sell on to consumers.
At the end of 2006, Ebay shut its main website in China and formed a joint venture with Hong Kong- headquartered Tom Online. This was regarded its absolute failure in the China market.
Amazon: Tmall.com, JD.com （”China’s Amazon”)
Tmall is the top e-commerce platform in China and is expected to overtake Amazon in the near future.
JD.com, The new kid and emerging leader is China’s second-largest e-commerce site., was listed in the US earlier this year. Analyst sees little profit but potential growth.
While in the China market, Amazon’s revenue is growing very slowly and this was considered a failure here.
Google is the biggest search engine in the world while Baidu is the dominant one in China
Baidu knows Chinese better
This is the slogan that Baidu use to position itself against Google.
Many admit that Baidu is better in recognizing Chinese language.
Alipay announced earlier this year that it processed nearly $150 billion in mobile transactions in 2013. The company claimed that its mobile payments volume was greater than both PayPal and Square combined.
Facebook: Wechat, Renren, Kaixin001
WeChat, a mobile messaging client run by Internet giant Tencent, has revolutionized the way the average smartphone owner in China communicates with friends, family and even strangers.
It’s too late for Facebook to enter into the China market.
Renren was considered by many people as China’s facebook, however, I don’t think it’s so important in many people’s life in China, the user base is almost only limited to students, which is totally different from Facebook.
Kaixin001 had been growing very fast, now users are leaving it for other social media tools.
It’s interesting to compare them.
Sina Weibo is not a joke. It’s the hottest microblogging service in China, though it’s be challenged by Wechat a lot in China, however it’s promising since the social nature is very different.
To be honest, I really think twitter should learn something from Weibo since there are more creations which made it more fun.
the Latest interface of Twitter makes it more like Weibo pages, which was considered by many people as Facebook pages.
Uber: Didi, Kuaidi
Uber’s business model faced a lot of challenges in the China markets.
Uber requires a bare minimum of its drivers in the US (background check, insurance, etc.), but even less in China (driver’s license, proof of incorporation, proof of car rental license, proof of public liability insurance). Chinese taxi companies are required to undergo expensive licensing procedures and government limits on the amount of taxi drivers per city.
At the same time, the battle between Didi and Kuaidi, the two Chinese taxi booking mobile apps for smartphones, hase been heating up backed by China’s internet giants Tencent and Alipay.
Whatsapp, Line: Wechat
WhatsApp is so popular in the western world, but it doesn’t dominate the whole world like you might think.
Asian Rivals are so powerful that the future is not a certain yet.
Wechat is going global as well. Let’s see how it goes.
Xiaomi, started as China’s low-cost smartphone maker, is developing really fast.
Xiaomi has taken its cue from both Google GOOG Apple, From Apple, Xiaomi has learned how to master the brand buzz. It has also learned how to compete on innovation rather than imitation.
Yahoo Answers: Baidu Zhidao
Goupon: Meituan, Dianping
Daily Deals Market
Craiglist: 58.com ganji.com
Youtube: Youku, Souhu TV, Tudou
Video sharing site
Kayak, Priceline: Qunar
Travel search engines
Isn’t it interesting?
Please let me know if you want me to add more.
Cheng Chao has extensive expertise in China market entry, global translation & localization, cross-border business development, and global digital marketing.
Chao founded ChineseTrans, where he led a team of senior linguists to establish ChineseTrans as the market leader in professional Chinese translation services.
Since 2011, Chao has served as the managing director of SinoStep, a consulting agency helping foreign investment enter into the China market. Backed up with a strong team of China business consultants experienced in different sectors, Chao has successfully introduced dozens of overseas brands into the China market, established their operations in China on early stage and adapted their businesses to the China market.
see Chao's Bio
Latest posts by Chao Cheng (see all)
- Chinese Website Launch Checklist - February 27, 2017
- Chinese Business Etiquette 101 for Doing Business in China - February 21, 2017
- How Misunderstood is China by the Outside World? - February 20, 2017