By Sherman So
China now comprises 250 million net clients, the most important on the planet, and becoming. Fortunes were made, yet extra importantly, society and enterprise are being remodeled alongside the original traces of chinese language net improvement. this may considerably have an effect on the enterprise and political personality of the quickest growing to be monetary energy on the earth. crimson stressed takes a desirable within examine how China has followed the net at fast speed. via special entry to the most important gamers in China's web revolution, the authors supply a brand new standpoint at the progress of this superpower and the position that expertise has performed. in addition, they provide company classes from net businesses which succeeded during this most intricate and particular of markets.
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Extra info for Red Wired: China's Internet Revolution
In 1998–9 he made the first Chinese TV documentary about entrepreneurs in Silicon Valley, for which he interviewed over 50 top venture capitalists, executives and entrepreneurs in the region. A venture capital investor recalled meeting them in early 1999: “I remember Eric Xu coming to our office. He had studied biochemistry but he wanted to do internet business… It was something like selling 37 Source: David Barboza, “The Rise of Baidu (That’s Chinese for Google),” New York Times, Sept 17, 2006.
ELong became the second largest online travel agency after Ctrip, with about half as much business volume. When Expedia came looking for a foothold in China in 2004, its gaze fell upon eLong, although it was only marginally profitable. It acquired 52 percent of eLong in two rounds of investment, effectively making eLong its China branch. eLong, too, was listed on NASDAQ in October 2004. Insiders recalled that Expedia approached Ctrip first, but Ctrip refused to sell. The price was not right. “We talked.
Ctrip’s lead over eLong continues to widen. 67 times in 2004. And while Ctrip’s profitability reached about 30 percent, eLong was making losses. 4: Market share of online travel (2008) Data source: Analysys International Note: by revenue 3. Traffic alert: Baidu The early history of Baidu, the largest Chinese search engine, is very similar to that of Google. It, too, started by licensing its services to other websites. But its founder Robin Li, a young computer engineer returned from America, decided to change the company’s direction in 2001.