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December	
  11,	
  2013	
  
Global	
  Seed	
  Fund	
  and	
  Startup	
  Accelerator	
  Program	
  
§  $73MM	
  USD	
  under	
  management	
  across	
  two	
  Funds	
  
§  650+	
  Investments,	
  since	
  2010,	
  30+	
  employees,	
  12	
  investment	
  professionals	
  
§  35+	
  Countries	
  (Ghana,	
  Denmark,	
  Ukraine,	
  Latvia	
  …	
  1	
  from	
  Korea)	
  
§  25%+	
  Outside	
  of	
  US	
  
§  Brazil,	
  Mexico,	
  India,	
  SEAsia	
  

NYC,	
  SF,	
  Mountain	
  View	
  (HQ)	
  
Dave	
  McClure	
  

Christine	
  Tsai	
  

Founding	
  Partner	
  -­‐	
  Investments,	
   Partner	
  -­‐	
  Investments,	
  
Fundraising	
  
Accelerator,	
  Mentors,	
  
Distribution	
  

Cesar	
  Salazar	
  	
  
Mexico	
  

Santiago	
  Zavala	
  
Mexico	
  

George	
  Kellerman	
  

Partner	
  (Japan),	
  Fundraising/
Investor	
  Relations	
  

Shai	
  Goldman	
  
NYC	
  

Pankaj	
  Jain	
  
India	
  

Christen	
  O’Brien	
  

Partner	
  -­‐	
  BD,	
  Sponsorships,	
  	
  
Events	
  &	
  Conferences	
  

Bedy	
  Yang	
  
Brazil	
  
Korea 500 startups global and in china_Rui Ma
¡ 

Born	
  in	
  China,	
  raised	
  in	
  US	
  (Silicon	
  Valley)	
  	
  

¡ 

U.C.	
  Berkeley	
  B.S.	
  EECS	
  

¡ 

Tsinghua-­‐INSEAD	
  EMBA	
  (c/o	
  2015)	
  

¡ 

~10	
  years	
  working	
  experience,	
  6	
  in	
  China	
  

§  Merrill	
  Lynch	
  &	
  Morgan	
  Stanley	
  Tech	
  IBD	
  (coverage	
  +	
  

M&A),	
  real	
  estate	
  principal	
  investing	
  
§  CITIC	
  Securities	
  M&A	
  
§  Raine	
  (TMT	
  PE	
  &	
  advisory)	
  
¡ 

Joined	
  500	
  in	
  Jan.	
  2013	
  …	
  	
  
3	
  F/T	
  Distribution	
  /	
  
Growth	
  Hackers	
  
Korea 500 startups global and in china_Rui Ma
Shop	
  

Learn	
  
Work	
  

Play	
  

Eat	
  

Everything	
  is	
  Connected	
  (Peer-­‐to-­‐Peer,	
  Just-­‐in-­‐Time)	
  
Everything	
  is	
  Personalized	
  (All	
  Data	
  Recorded	
  and	
  Analyzed)	
  
Korea 500 startups global and in china_Rui Ma
Korea 500 startups global and in china_Rui Ma
Korea 500 startups global and in china_Rui Ma
Korea 500 startups global and in china_Rui Ma
Korea 500 startups global and in china_Rui Ma
Korea 500 startups global and in china_Rui Ma
Korea 500 startups global and in china_Rui Ma
Existing	
  Realities	
  as	
  of	
  Q2	
  2013	
  
§  325.5mm	
  3G	
  devices	
  (#1	
  market),	
  24%	
  penetration	
  
▪  vs.	
  225mm	
  /	
  71%	
  in	
  US	
  (#2	
  market)	
  
▪  Room	
  to	
  grow	
  to	
  catch	
  up	
  to	
  global	
  penetration	
  of	
  29.5%	
  

§  420mm	
  mobile	
  internet	
  users	
  (#1),	
  74.5%	
  access	
  internet	
  via	
  mobile	
  vs.	
  
70.6%	
  via	
  web	
  

§  1.20Bn	
  mobile	
  subscribers	
  (#1)	
  
§  43%	
  access	
  web	
  via	
  mobile	
  in	
  Urban	
  China,	
  ~2x	
  that	
  of	
  US	
  (22%)	
  and	
  nearly	
  

that	
  of	
  Japan	
  (47%)	
  
§  30%	
  of	
  mobile	
  internet	
  users	
  never	
  use	
  the	
  PC	
  

$290Bn	
  (estimated)	
  in	
  2013	
  (US:	
  $260Bn),	
  up	
  53%	
  
(Largest	
  Single	
  Day	
  Purchase:	
  $5.75Bn	
  on	
  Singles	
  Day,	
  >4x	
  $1.25Bn	
  on	
  

§  e-­‐Commerce	
  -­‐	
  

Cyber	
  Monday)	
  

Source:	
  http://mobithinking.com/mobile-­‐marketing-­‐tools/latest-­‐mobile-­‐stats/b	
  
¡ 

China	
  is	
  Big	
  
§  At	
  least	
  ½	
  as	
  many	
  early	
  stage	
  internet	
  startups	
  as	
  the	
  US	
  …	
  
§  Hundreds	
  of	
  accelerators	
  …	
  hypercompetitive	
  domestic	
  market	
  

¡ 

China	
  is	
  Different	
  

§  Hong	
  Kong	
  and	
  Taiwan	
  are	
  not	
  good	
  proxies	
  
§  Hire	
  >>	
  Partner	
  

¡ 

China	
  is	
  Fast	
  

§  Scaling:	
  100	
  sqm	
  to	
  1000	
  sqm	
  to	
  5,000	
  sqm	
  
§  Visit	
  1x	
  a	
  quarter!	
  

	
  
Therefore	
  …	
  I	
  like	
  

Global	
  /	
  Cross-­‐border	
  /	
  Unsexy	
  
	
  
Korea 500 startups global and in china_Rui Ma
Doing Well by Doing Good
¡ 

WHAT:	
  Employee	
  retention	
  (communications,	
  training,	
  community/deals)	
  tool	
  
on	
  the	
  smartphone	
  for	
  factories	
  
§ 

¡ 
¡ 

	
  

Charge	
  10	
  RMB	
  /	
  employee	
  /	
  month	
  

WHY:	
  double	
  digit	
  monthly	
  churn,	
  reduce	
  costs,	
  increase	
  supply	
  chain	
  stability	
  
HOW:	
  60-­‐70%	
  of	
  factory	
  workers	
  have	
  smartphones,	
  initially	
  target	
  MNCs	
  with	
  
CSR	
  goals	
  	
  
¡ 

WHAT:	
  Contest	
  Platform	
  to	
  drive	
  social	
  media	
  content	
  and	
  engagement	
  
§  Charge	
  per	
  campaign	
  (outcome-­‐based	
  fee	
  quote)	
  

¡ 
¡ 

	
  

WHY:	
  Refreshing	
  content	
  is	
  expensive	
  and	
  time-­‐consuming;	
  build	
  
community;	
  design	
  students	
  looking	
  to	
  build	
  portfolio	
  
HOW:	
  Design/Art	
  schools,	
  gaming	
  +	
  consumer	
  products	
  companies	
  	
  
¡ 

WHAT:	
  Customer	
  service	
  management	
  provider	
  +	
  analytics	
  beginning	
  
with	
  high-­‐end	
  hotel	
  concierge	
  desks	
  
§  Mobile	
  app	
  using	
  push-­‐to-­‐talk,	
  taking	
  advantage	
  of	
  other	
  smartphone	
  functionality	
  

¡ 
¡ 

WHY:	
  Smarter	
  human-­‐to-­‐human	
  interactions	
  
HOW:	
  SaaS,	
  plus	
  possible	
  transactional	
  model	
  
¡ 

WHAT:	
  e-­‐Commerce	
  logistics	
  +	
  return	
  service	
  for	
  China-­‐to-­‐US	
  sellers	
  
§  Utilizes	
  existing	
  infrastructure;	
  aggregates	
  shipments	
  

¡ 
¡ 

WHY:	
  Shipping	
  is	
  expensive	
  /	
  takes	
  long	
  time	
  at	
  low	
  volume;	
  returns	
  are	
  
hard,	
  trust	
  is	
  low	
  for	
  China-­‐based	
  sellers	
  
HOW:	
  Integrate	
  with	
  existing	
  shipping	
  co’s;	
  initial	
  customers	
  from	
  eBay	
  	
  	
  
FAILURE is OK
TAKE RISKS
Open Rules.
Stealth drools.

FAST IS BETTER

Diversity wins.

FUN AT ALL COSTS.
Korea 500 startups global and in china_Rui Ma
¡  Please	
  contact	
  me	
  at	
  any	
  time:	
  
§  rui@500.co	
  
§  WeChat:missruima	
  

	
  

¡  Follow	
  Us:	
  
▪  @500Startups	
  
▪  @davemcclure	
  
▪  @ruima	
  

¡  Website:www.500.co	
  

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Korea 500 startups global and in china_Rui Ma

  • 2. Global  Seed  Fund  and  Startup  Accelerator  Program   §  $73MM  USD  under  management  across  two  Funds   §  650+  Investments,  since  2010,  30+  employees,  12  investment  professionals   §  35+  Countries  (Ghana,  Denmark,  Ukraine,  Latvia  …  1  from  Korea)   §  25%+  Outside  of  US   §  Brazil,  Mexico,  India,  SEAsia   NYC,  SF,  Mountain  View  (HQ)  
  • 3. Dave  McClure   Christine  Tsai   Founding  Partner  -­‐  Investments,   Partner  -­‐  Investments,   Fundraising   Accelerator,  Mentors,   Distribution   Cesar  Salazar     Mexico   Santiago  Zavala   Mexico   George  Kellerman   Partner  (Japan),  Fundraising/ Investor  Relations   Shai  Goldman   NYC   Pankaj  Jain   India   Christen  O’Brien   Partner  -­‐  BD,  Sponsorships,     Events  &  Conferences   Bedy  Yang   Brazil  
  • 5. ¡  Born  in  China,  raised  in  US  (Silicon  Valley)     ¡  U.C.  Berkeley  B.S.  EECS   ¡  Tsinghua-­‐INSEAD  EMBA  (c/o  2015)   ¡  ~10  years  working  experience,  6  in  China   §  Merrill  Lynch  &  Morgan  Stanley  Tech  IBD  (coverage  +   M&A),  real  estate  principal  investing   §  CITIC  Securities  M&A   §  Raine  (TMT  PE  &  advisory)   ¡  Joined  500  in  Jan.  2013  …    
  • 6. 3  F/T  Distribution  /   Growth  Hackers  
  • 8. Shop   Learn   Work   Play   Eat   Everything  is  Connected  (Peer-­‐to-­‐Peer,  Just-­‐in-­‐Time)   Everything  is  Personalized  (All  Data  Recorded  and  Analyzed)  
  • 16. Existing  Realities  as  of  Q2  2013   §  325.5mm  3G  devices  (#1  market),  24%  penetration   ▪  vs.  225mm  /  71%  in  US  (#2  market)   ▪  Room  to  grow  to  catch  up  to  global  penetration  of  29.5%   §  420mm  mobile  internet  users  (#1),  74.5%  access  internet  via  mobile  vs.   70.6%  via  web   §  1.20Bn  mobile  subscribers  (#1)   §  43%  access  web  via  mobile  in  Urban  China,  ~2x  that  of  US  (22%)  and  nearly   that  of  Japan  (47%)   §  30%  of  mobile  internet  users  never  use  the  PC   $290Bn  (estimated)  in  2013  (US:  $260Bn),  up  53%   (Largest  Single  Day  Purchase:  $5.75Bn  on  Singles  Day,  >4x  $1.25Bn  on   §  e-­‐Commerce  -­‐   Cyber  Monday)   Source:  http://mobithinking.com/mobile-­‐marketing-­‐tools/latest-­‐mobile-­‐stats/b  
  • 17. ¡  China  is  Big   §  At  least  ½  as  many  early  stage  internet  startups  as  the  US  …   §  Hundreds  of  accelerators  …  hypercompetitive  domestic  market   ¡  China  is  Different   §  Hong  Kong  and  Taiwan  are  not  good  proxies   §  Hire  >>  Partner   ¡  China  is  Fast   §  Scaling:  100  sqm  to  1000  sqm  to  5,000  sqm   §  Visit  1x  a  quarter!     Therefore  …  I  like   Global  /  Cross-­‐border  /  Unsexy    
  • 19. Doing Well by Doing Good ¡  WHAT:  Employee  retention  (communications,  training,  community/deals)  tool   on  the  smartphone  for  factories   §  ¡  ¡    Charge  10  RMB  /  employee  /  month   WHY:  double  digit  monthly  churn,  reduce  costs,  increase  supply  chain  stability   HOW:  60-­‐70%  of  factory  workers  have  smartphones,  initially  target  MNCs  with   CSR  goals    
  • 20. ¡  WHAT:  Contest  Platform  to  drive  social  media  content  and  engagement   §  Charge  per  campaign  (outcome-­‐based  fee  quote)   ¡  ¡    WHY:  Refreshing  content  is  expensive  and  time-­‐consuming;  build   community;  design  students  looking  to  build  portfolio   HOW:  Design/Art  schools,  gaming  +  consumer  products  companies    
  • 21. ¡  WHAT:  Customer  service  management  provider  +  analytics  beginning   with  high-­‐end  hotel  concierge  desks   §  Mobile  app  using  push-­‐to-­‐talk,  taking  advantage  of  other  smartphone  functionality   ¡  ¡  WHY:  Smarter  human-­‐to-­‐human  interactions   HOW:  SaaS,  plus  possible  transactional  model  
  • 22. ¡  WHAT:  e-­‐Commerce  logistics  +  return  service  for  China-­‐to-­‐US  sellers   §  Utilizes  existing  infrastructure;  aggregates  shipments   ¡  ¡  WHY:  Shipping  is  expensive  /  takes  long  time  at  low  volume;  returns  are   hard,  trust  is  low  for  China-­‐based  sellers   HOW:  Integrate  with  existing  shipping  co’s;  initial  customers  from  eBay      
  • 23. FAILURE is OK TAKE RISKS Open Rules. Stealth drools. FAST IS BETTER Diversity wins. FUN AT ALL COSTS.
  • 25. ¡  Please  contact  me  at  any  time:   §  rui@500.co   §  WeChat:missruima     ¡  Follow  Us:   ▪  @500Startups   ▪  @davemcclure   ▪  @ruima   ¡  Website:www.500.co