Everyone in Silicon Valley knows China is a huge opportunity, in fact, venture capital investment in China soared more than 20% in the third quarter to nearly $1 billion. Yes, the same quarder the world’s financial markets fell into total chaos. The Internet sector is especially appealing, now that China’s Web audience has actually surpassed that in the U.S.
But so far, the spoils of that market have been elusive to Westerners. My guest Calvin Pak, CEO and co-founder of FaceKoo, saw that first hand working for eBay, one of several dominant U.S. Web companies that has historically struggled in China. That was a boon for local auction houses.
As the head of FaceKoo, a Chinese-based social network, Pak only hopes these Western stumbles continue. Although so far, his biggest rival MySpace is doing a much better job adapting to the local market, as he explains in this clip. Also, he shares his tips on doing business and investing in one of the world’s most attractive but most confusing market.
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Everyone in Silicon Valley knows China is a huge opportunity, in fact, venture capital investment in China soared more than 20% in the third quarter to nearly $1 billion. Yes, the same quarder the world’s financial markets fell into total chaos. The Internet sector is especially appealing, now that China’s Web audience has actually surpassed that in the U.S.
But so far, the spoils of that market have been elusive to Westerners. My guest Calvin Pak, CEO and co-founder of FaceKoo, saw that first hand working for eBay, one of several dominant U.S. Web companies that has historically struggled in China. That was a boon for local auction houses.
As the head of FaceKoo, a Chinese-based social network, Pak only hopes these Western stumbles continue. Although so far, his biggest rival MySpace is doing a much better job adapting to the local market, as he explains in this clip. Also, he shares his tips on doing business and investing in one of the world’s most attractive but most confusing market.
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