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1. #TENCENT DAUS WECHAT CHINA SOFTWARE#
2. #TENCENT DAUS WECHAT CHINA OFFLINE#
3. #TENCENT DAUS WECHAT CHINA TV#

You have former TV anchorpeople or current anchorpeople you have folks who are experts in their areas you have some folks from movies and film backgrounds. Celebrities get involved as well… for example, Bob Xu from ZhenFund is one of the so-called educators on these platforms. People are putting a lot of effort and time to building such content. Also I would say that from the content generation side, the quality is very good.

They have the habit of just pressing the pay button. So if everyone has a phone and everyone is using WeChat Pay or Alipay, and a lot of the educational content on Ximalaya or Dedao is so cheap, people don’t really think too much about it. There is less friction that prevents the users from paying. Because when you have payments attached to the phone, it really makes it a lot easier to monetize. One big part of this is literally mobile payments that I mentioned earlier. They might charge a little bit more for that type of content.Īdam: Yeah. There is also the longer form content where individuals are basically creating classes or coursework that are all audio-based. People are willing to pay for that because they just want to consistently access quality content. It could be five minutes, or a little bit longer, that are done every single day or week, with a subscription price of about 99 RMB or 199 RMB. For example, in Ximalaya there are a lot of short audio sessions. Or it’s just that a lot of people like the concept of learning. If I’m not listening to educational content on my way to work, maybe I’ll fall behind some of my peers. Not all contents have a fee attached to it (a lot of them are free), but the fact is that a lot of people in China want to learn. They charge subscription or content specific fees. These are similar to podcasting or Soundcloud in the U.S., but they monetize a heck lot better. It’s not just podcasting, but also – let me give an example to describe this – these few apps like Dedao (iGetGet) or Ximalaya.fm.

#TENCENT DAUS WECHAT CHINA OFFLINE#

It typically will take some of the offline counterparts over a decade to achieve this. There are not many education companies that are making that much money a year. This is incredible, because it’s only taken them four to five years of time. Their valuation is what… four or five billion dollars? They’ve generated about a billion dollars of revenue last year, and they are close to two billion dollars this year. I’m sure that a lot of our listeners have heard about that company. One really good example of this is VIPKID. These days, because of the digitization of education, essentially you have people not just from first-tier cities, but second-tier cities and third-tier cities with increasing access to the Internet and internet-based education models. Everyone is catering around the one child, so a lot of money is spent in this sector in general. Because of the one-child policy, a lot of the folks growing up over the past decades essentially have three sets of parents – your parents, both your mom’s side and dad’s side of your grandparents. The startup ecosystem is truly becoming global - more VCs are coming to China and Chinese VCs are also encouraging talents in the US to found companies in China.Īdam: Education is definitely a really big sector in China, and it is a large opportunity from the VC perspective as well. incumbents have a lot of power! There are so many peeps in China that a specific TAM (total addressable market) can be a lot larger than people expect- serving a targeted niche market or coming up with a creative business model are great ways to stand out. Competition is super fierce in China with major big players (counterparts of FANG in the US).

#TENCENT DAUS WECHAT CHINA SOFTWARE#

Enterprise software is still in its early stage because companies are unwilling to pay, but tons of opportunities in the future as small companies are undergoing rapid growth. Mobile first payment has made transactions within products extremely seamless and easy. Accessibility of knowledge and information becomes huge because more and more people feel anxious that they'd be left behind.

Ed tech in China is booming with people's eagerness to learn as well as the companies' capability to monetize through paid content. Wechat's ecosystem offers a new playground where customer acquisition cost is extremely low, so there's a lot of new opportunities here to leverage this distribution channel.