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Facebook's chances to conquer china with free trade at golden networking's china leaders forum 2013

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  • 1. For Immediate Release Julia Petrova Media Relations Coordinator Golden Networking +1-414-FORUMS0 jpetrova@goldennetworking.com http://www.goldennetworking.com Facebook's Chances to Conquer China With Free Trade at Golden Networking's China Leaders Forum 2013 Building off of the momentum of past conferences, Golden Networking brings back China Leaders Forum 2013 (http://www.ChinaLeadersForum.com), "Will the Chinese Dream Become Long-term Investors’ Dream or Nightmare?", New York, October 1st As reported by Wired, Facebook has now been legalized inside a forthcoming free-trade zone within Shanghai. What are the chances of Facebook to finally expand in the mainland? Golden Networking's China Leaders Forum 2013, "Will the Chinese Dream Become Long-term Investors’ Dream or Nightmare?", to be held on October 1st , New York City, will examine the political and economic challenges facing China nowadays and the long-term opportunities that will be created in the world’s largest economy by 2016. Recognized experts, regulators, and strategists, will return to China Leaders Forum 2013 (http://chinaleadersforum.com) in its fifth edition to provide the information practitioners are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking. According to Ryan Tate, the Chinese market is just what Facebook needs. Facebook has saturated the U.S., and the company is increasingly looking to foreign markets, especially less developed foreign markets, for growth. If Facebook can expand its new Chinese beachhead — and it really is a mere beachhead, reportedly intended mainly for foreigners in a section of Pudong — it would turbocharge growth in a region that is already trouncing the domestic
  • 2. market. Facebook grew its userbase in Asia 32 percent over the past year versus 6 percent in the U.S., while revenue grew 46 percent in Asia versus 43 percent in the U.S. But the deck is stacked against Facebook in China, says Tate. First, the obvious: The Shanghai zone is a tiny fraction of the Chinese market, and network effects make this limitation particularly crippling to a social network. “Think of this this way,” says Carlos Kirjner, an analyst with research house Sanford Bernstein. “Would you leave Facebook for an alternative that only allowed you to connect with friends in the Bay Area?” Second, Facebook is up against native Chinese competitors like Renren, a game-centric social network that strongly resembles Facebook. Renren is comparatively small — with around 45 million active monthly users to Facebook’s 1 billion plus — and it has struggled to turn a sustainable profit. But it will keep signing up users throughout China while Facebook is locked into its corner of Shanghai. So even if China eventually reverses its ban on Facebook, the company’s Chinese social networking landscape could look a lot like the one in Russia, where Facebook distantly trails the native clone Vkontakte, with 8 million monthly users to Vkontakte’s 49 million. China Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net. ###