The document analyzes internet traffic data and trends for leading Chinese websites. It finds:
1) The portal segment is an oligopoly with the top 5 sites gaining most users, though NetEase has lost some share.
2) The search segment is moving to a near monopoly with Baidu gaining at the expense of others.
3) The online video segment is highly fragmented and competitive, with many sites holding users despite growth.
R Systems’ Profile available on Microsoft Public Sector Global Outlook Direct...R Systems International
Microsoft Public Sector Global Outlook Directory 2015 : R Systems’ advertisement is available on Page 31 and our brief corporate profile is available on Page 101
http://digital.tudor-rose.co.uk/public-sector-global-outlook/#31
http://digital.tudor-rose.co.uk/public-sector-global-outlook/#102
The document summarizes Lafrenchmobile, a French mobile industry community created in 2009 with over 400 member companies. It offers various services to members like job postings, press releases, directories, and market briefs. Each year it holds an event called LafrenchmobileDAY focused on a theme, with about 10 experts providing analysis and inspiration. The community also holds regular meetups every two months where 7 startups present on a topic to attendees.
Data & trends 2014 the digital games industry in review joost van dreunenMary Chan
Now, one year into the new console cycle, is a great moment to assess if and how the games market landscape has changed. The transition to digital has opened up new opportunities in the form of emerging markets, post-launch commercialization and licensing, But it has also created a lot of insecurity as game companies struggle with the rising cost of marketing and a growing influence of big publishers on the industry. In this presentation we’ll take a look at the current games industry landscape, identify major trends for the coming year and take a first run at deciphering the early signs of what lies ahead. As always, the audience will leave with a permanent +2 modifier on all Industry Intelligence rolls.
Intended audience & prerequisites: In this presentation we’ll take a look at the current games industry landscape, identify major trends for the coming year and take a first run at deciphering the early signs of what lies ahead.
Session takeaways: Attendees will receive a detailed overview of the current digital games market, key drivers and trends, and how this affects their business. The presentation contains extensive data and research on the games industry.
RockYou's Raymond Chan gave an informative presentation about OpenSocial at the Girls in Tech Developer Summit November 19, 2008 in San Francisco. Raymond gave a short history of OpenSocial and a lot of detailed information on coding for OpenSocial.
IAB Europe viewable impressions - white paper feb 2015yann le gigan
This document discusses viewable impressions in the context of digital advertising metrics in Europe. It provides background on the growth of digital advertising and focus on metrics from stakeholders. Viewable impressions refer to ads that were on-screen long enough to be seen by users, as opposed to served impressions which may not have been viewable. The document outlines viewable impression frameworks and guidelines developed in the US and discusses considerations for trading based on viewable impressions in Europe. It aims to increase confidence and understanding of viewable impressions across the European digital advertising ecosystem.
1) The document discusses emerging trends in the digital economy including healthcare crowdfunding, blockchain technology, iris scanning smartphones, virtual reality driving experiences, distributed file storage, and more.
2) It also discusses challenges and opportunities for disruption including shifting from products to services, the importance of ecosystems, and how digital priorities have changed customer behaviors.
3) Finally, it provides advice on how companies can transform including focusing on speed, learning, and obsessing over the customer experience.
This document discusses how retail is evolving due to changes in consumers, technology, and commerce. It notes that consumers have less time and are more value-driven, mobile, and social. As a result, retail is shifting from transactional to experiential and the lines between physical and digital retail are blurring. New technologies like mobile, social media, and digital signage are empowering consumers and enabling more personalized and seamless shopping experiences across channels.
R Systems’ Profile available on Microsoft Public Sector Global Outlook Direct...R Systems International
Microsoft Public Sector Global Outlook Directory 2015 : R Systems’ advertisement is available on Page 31 and our brief corporate profile is available on Page 101
http://digital.tudor-rose.co.uk/public-sector-global-outlook/#31
http://digital.tudor-rose.co.uk/public-sector-global-outlook/#102
The document summarizes Lafrenchmobile, a French mobile industry community created in 2009 with over 400 member companies. It offers various services to members like job postings, press releases, directories, and market briefs. Each year it holds an event called LafrenchmobileDAY focused on a theme, with about 10 experts providing analysis and inspiration. The community also holds regular meetups every two months where 7 startups present on a topic to attendees.
Data & trends 2014 the digital games industry in review joost van dreunenMary Chan
Now, one year into the new console cycle, is a great moment to assess if and how the games market landscape has changed. The transition to digital has opened up new opportunities in the form of emerging markets, post-launch commercialization and licensing, But it has also created a lot of insecurity as game companies struggle with the rising cost of marketing and a growing influence of big publishers on the industry. In this presentation we’ll take a look at the current games industry landscape, identify major trends for the coming year and take a first run at deciphering the early signs of what lies ahead. As always, the audience will leave with a permanent +2 modifier on all Industry Intelligence rolls.
Intended audience & prerequisites: In this presentation we’ll take a look at the current games industry landscape, identify major trends for the coming year and take a first run at deciphering the early signs of what lies ahead.
Session takeaways: Attendees will receive a detailed overview of the current digital games market, key drivers and trends, and how this affects their business. The presentation contains extensive data and research on the games industry.
RockYou's Raymond Chan gave an informative presentation about OpenSocial at the Girls in Tech Developer Summit November 19, 2008 in San Francisco. Raymond gave a short history of OpenSocial and a lot of detailed information on coding for OpenSocial.
IAB Europe viewable impressions - white paper feb 2015yann le gigan
This document discusses viewable impressions in the context of digital advertising metrics in Europe. It provides background on the growth of digital advertising and focus on metrics from stakeholders. Viewable impressions refer to ads that were on-screen long enough to be seen by users, as opposed to served impressions which may not have been viewable. The document outlines viewable impression frameworks and guidelines developed in the US and discusses considerations for trading based on viewable impressions in Europe. It aims to increase confidence and understanding of viewable impressions across the European digital advertising ecosystem.
1) The document discusses emerging trends in the digital economy including healthcare crowdfunding, blockchain technology, iris scanning smartphones, virtual reality driving experiences, distributed file storage, and more.
2) It also discusses challenges and opportunities for disruption including shifting from products to services, the importance of ecosystems, and how digital priorities have changed customer behaviors.
3) Finally, it provides advice on how companies can transform including focusing on speed, learning, and obsessing over the customer experience.
This document discusses how retail is evolving due to changes in consumers, technology, and commerce. It notes that consumers have less time and are more value-driven, mobile, and social. As a result, retail is shifting from transactional to experiential and the lines between physical and digital retail are blurring. New technologies like mobile, social media, and digital signage are empowering consumers and enabling more personalized and seamless shopping experiences across channels.
Digitalization is transforming the banking industry and customer expectations. Private banks must move from product-centric to client-centric approaches using digital enablers to both improve operations and innovate new services. This includes addressing new markets through tailored user experiences, developing community features, and becoming a trusted place for financial and social support through protection, empowerment, guidance, and intimacy.
Introducing Affiliate Marketing Mastermind. Inside this eBook, you will discover the topics about how does affiliate marketing work, understanding your chosen program, different affiliate programs, other affiliate methods network, style affiliate programs, different commission structures, promoting your chosen product and do’s and don’ts.
Consumers today are more ‘SoLoMo’ –Social, Local and Mobile. The article discusses about the key global trends and benchmark practices that would help retailers to build seamless consumer experience and long-term profitability in the near future (2020). Using Big-Data for predictive analytics, leveraging technology to create Omnichannel customer experience, implementing effective Supply-Chain, using prompt methods payments, enforcing efficient employee training and other success factors mentioned in the article, will definitely shape the future of a successful retailers to manage the complexity and diversity of retailing in 2020. All topics covered all supported with concrete examples of worldwide benchmark in the industry.
The document provides an overview of internet marketing and discusses various strategies for generating traffic and monetizing a website. It explains that internet marketing involves publicizing products online to make money and that anyone can get started with just a computer and internet connection. It also discusses the importance of traffic, differentiating between hot and cold traffic, and how to monetize a website through methods like affiliate marketing, ebooks, and shopping carts. Blogging is presented as an effective way to build traffic.
'Game-changers' provides highlights on how CIOs are shaping the digital agenda of orgs & taking advantage of technologies to drive better business outcomes.
Introducing Affiliate Marketing Mastermind. Inside this eBook, you will discover the topics about how does affiliate marketing work, understanding your chosen program, different affiliate programs, other affiliate methods network, style affiliate programs, different commission structures, promoting your chosen product and do's and don'ts.
More DISRUPTION on https://www.techingrocery.com
The supermarket is dead, long life to the supermarket!
While I was waiting the digital new upcoming innovations, I really thought that the supermarket was dead! But in reality, supermarket is moving faster than expected! Many consumers love having groceries delivered to their door, but there is still a huge number of shoppers that love going to the store and personally select their products. It is clear that the “digitization” of the store is becoming a key issue in many sectors of distribution and the Grocery retail is not being outdone. Several technologies and techniques are promising in the context of “digitization” of supermarkets, provided they are well controlled. Bellow, find the Techingrocery selection of the 15 most disruptive innovation to change the face of supermarkets as we know!
Full article on https://www.techingrocery.com/publicity/15-digital-innovations-in-grocery-you-must-be-aware-in-2016/
This document presents an opportunity to connect internet-connected devices through a common platform called "ThingCloud". By 2020 there will be over 50 billion internet-connected devices but currently they do not interact with each other. ThingCloud aims to create a platform that allows devices to connect and interact with each other and with users. It will provide a feed of device activity, rules to connect devices, and recommendations. Scenarios describe connecting photo sharing and heating systems. Revenue models include fees for integration and sales commissions.
Profitability of Accessibility WordPress Accessibility Day 2020Sumner M. Davenport
This document discusses the profitability of web accessibility for designers, companies, and clients. It notes that 98.1% of websites need accessibility remediation and over 1 in 4 people have a recognized disability. Implementing accessibility allows designers and companies to increase their value, enhance their brand, extend their market reach, and minimize legal risks. It also opens a potential market of people with disabilities and their communities, who have over $490 billion in annual disposable income in the US alone. The document provides tips on how to plan for and implement accessibility, such as checking for common issues, having a native user test sites, and being transparent with clients.
This document provides guidance for product managers on using email notifications, alerts, and other transactional messages from apps to engage users and grow the app. It discusses key use cases for product emails, how to measure their impact, and the technical challenges of reliably sending large volumes of emails from an app. Specific topics covered include common types of emails like onboarding, reminders, and security alerts; identifying important "make-or-break" moments where emails can significantly impact user behavior; and how delivering emails at scale from an app is more complex than a simple "send" button due to challenges like deliverability, spam filtering, and transactional email infrastructure requirements.
This document summarizes a research paper that explores value creation in e-businesses. The researchers analyzed 59 American and European e-businesses that had become publicly traded corporations. They developed a model identifying four primary dimensions of value creation in e-businesses: efficiency, complementarities, lock-in, and novelty. No single theory of entrepreneurship or strategic management fully explains value creation in e-business. The researchers propose using the business model construct as a way to integrate perspectives on value creation and analyze e-business.
signmesh snapshot - quick look into the fashion industrysignmesh
How is the fashion industry trying to catch up with ever growing consumer demands? A collection of signs and cases relating to fashion - brick and mortar, trying and buying experience.
Click Media is a full-service media production company that provides services such as media planning, buying and evaluation, website and portal development, audio-visual film production, graphic design, and more. The company aims to create innovative content through a wide array of services delivered with honesty and integrity. Click Media prides itself on building successful marketing campaigns through various media channels and expertise in implementing initiatives across many media types.
Presentation delivered during the Introductory Course to Big Data in Agriculture. 29/11/2013, NCSR Demokritos, Athens, Greece.
The presentation is heavily based on the report titled “Big Data Now: 2012 Edition", by O’Reilly Media, Inc.
More info about the event: http://wiki.agroknow.gr/agroknow/index.php/Athens_Green_Hackathon_2013
Three Necessary tools for high Affiliate Marketers
Your Own Website, Incentives, Link Popularity, it is something to bring on the table when you have a meeting with Affiliate Marketers.
Experience Design + The Digital Agency (Phizzpop version)David Armano
The document discusses the evolution of experience design from focusing on specialized fields like usability to a more holistic approach that blurs lines between disciplines. It notes experience design exists at the intersection of human, technical, and aesthetic interests. The role of agencies is also becoming more blurred as they work across advertising, marketing, design, and other areas. The document advocates for a T-shaped approach to experience design, with both deep expertise and ability to collaborate broadly. It argues experience design will continue solving complex problems through creative solutions.
Mobile Business Applications can be devloped on a low budget and its value to business is increasing every day.
Best Business Apps is the lading mobile application developer in Australia.
Contact us now on 1300 655 517.
Bots are one of the key mobility trends in 2016 and have the potential to transform enterprises. Bots perform tasks based on predefined rules and some use artificial intelligence (AI) for "smart" capabilities. While mobility has increased, it has not significantly changed how organizations operate. Bots can address gaps that have limited the impact of mobility by enabling personalized responses, automating workflows, and making mobile devices more embedded in business processes.
Qihoo 360 is China's leading antivirus and security software company with nearly 380 million active users. While Qihoo initially made money through selling security software, it now generates about 75% of its revenue from advertisements on its free browser. Qihoo sees opportunities to further monetize its large user base through mobile security, cloud services, and games. However, Qihoo faces competition from other large Chinese tech companies like Baidu and Tencent that are looking to grow their presence in the security software market.
Digitalization is transforming the banking industry and customer expectations. Private banks must move from product-centric to client-centric approaches using digital enablers to both improve operations and innovate new services. This includes addressing new markets through tailored user experiences, developing community features, and becoming a trusted place for financial and social support through protection, empowerment, guidance, and intimacy.
Introducing Affiliate Marketing Mastermind. Inside this eBook, you will discover the topics about how does affiliate marketing work, understanding your chosen program, different affiliate programs, other affiliate methods network, style affiliate programs, different commission structures, promoting your chosen product and do’s and don’ts.
Consumers today are more ‘SoLoMo’ –Social, Local and Mobile. The article discusses about the key global trends and benchmark practices that would help retailers to build seamless consumer experience and long-term profitability in the near future (2020). Using Big-Data for predictive analytics, leveraging technology to create Omnichannel customer experience, implementing effective Supply-Chain, using prompt methods payments, enforcing efficient employee training and other success factors mentioned in the article, will definitely shape the future of a successful retailers to manage the complexity and diversity of retailing in 2020. All topics covered all supported with concrete examples of worldwide benchmark in the industry.
The document provides an overview of internet marketing and discusses various strategies for generating traffic and monetizing a website. It explains that internet marketing involves publicizing products online to make money and that anyone can get started with just a computer and internet connection. It also discusses the importance of traffic, differentiating between hot and cold traffic, and how to monetize a website through methods like affiliate marketing, ebooks, and shopping carts. Blogging is presented as an effective way to build traffic.
'Game-changers' provides highlights on how CIOs are shaping the digital agenda of orgs & taking advantage of technologies to drive better business outcomes.
Introducing Affiliate Marketing Mastermind. Inside this eBook, you will discover the topics about how does affiliate marketing work, understanding your chosen program, different affiliate programs, other affiliate methods network, style affiliate programs, different commission structures, promoting your chosen product and do's and don'ts.
More DISRUPTION on https://www.techingrocery.com
The supermarket is dead, long life to the supermarket!
While I was waiting the digital new upcoming innovations, I really thought that the supermarket was dead! But in reality, supermarket is moving faster than expected! Many consumers love having groceries delivered to their door, but there is still a huge number of shoppers that love going to the store and personally select their products. It is clear that the “digitization” of the store is becoming a key issue in many sectors of distribution and the Grocery retail is not being outdone. Several technologies and techniques are promising in the context of “digitization” of supermarkets, provided they are well controlled. Bellow, find the Techingrocery selection of the 15 most disruptive innovation to change the face of supermarkets as we know!
Full article on https://www.techingrocery.com/publicity/15-digital-innovations-in-grocery-you-must-be-aware-in-2016/
This document presents an opportunity to connect internet-connected devices through a common platform called "ThingCloud". By 2020 there will be over 50 billion internet-connected devices but currently they do not interact with each other. ThingCloud aims to create a platform that allows devices to connect and interact with each other and with users. It will provide a feed of device activity, rules to connect devices, and recommendations. Scenarios describe connecting photo sharing and heating systems. Revenue models include fees for integration and sales commissions.
Profitability of Accessibility WordPress Accessibility Day 2020Sumner M. Davenport
This document discusses the profitability of web accessibility for designers, companies, and clients. It notes that 98.1% of websites need accessibility remediation and over 1 in 4 people have a recognized disability. Implementing accessibility allows designers and companies to increase their value, enhance their brand, extend their market reach, and minimize legal risks. It also opens a potential market of people with disabilities and their communities, who have over $490 billion in annual disposable income in the US alone. The document provides tips on how to plan for and implement accessibility, such as checking for common issues, having a native user test sites, and being transparent with clients.
This document provides guidance for product managers on using email notifications, alerts, and other transactional messages from apps to engage users and grow the app. It discusses key use cases for product emails, how to measure their impact, and the technical challenges of reliably sending large volumes of emails from an app. Specific topics covered include common types of emails like onboarding, reminders, and security alerts; identifying important "make-or-break" moments where emails can significantly impact user behavior; and how delivering emails at scale from an app is more complex than a simple "send" button due to challenges like deliverability, spam filtering, and transactional email infrastructure requirements.
This document summarizes a research paper that explores value creation in e-businesses. The researchers analyzed 59 American and European e-businesses that had become publicly traded corporations. They developed a model identifying four primary dimensions of value creation in e-businesses: efficiency, complementarities, lock-in, and novelty. No single theory of entrepreneurship or strategic management fully explains value creation in e-business. The researchers propose using the business model construct as a way to integrate perspectives on value creation and analyze e-business.
signmesh snapshot - quick look into the fashion industrysignmesh
How is the fashion industry trying to catch up with ever growing consumer demands? A collection of signs and cases relating to fashion - brick and mortar, trying and buying experience.
Click Media is a full-service media production company that provides services such as media planning, buying and evaluation, website and portal development, audio-visual film production, graphic design, and more. The company aims to create innovative content through a wide array of services delivered with honesty and integrity. Click Media prides itself on building successful marketing campaigns through various media channels and expertise in implementing initiatives across many media types.
Presentation delivered during the Introductory Course to Big Data in Agriculture. 29/11/2013, NCSR Demokritos, Athens, Greece.
The presentation is heavily based on the report titled “Big Data Now: 2012 Edition", by O’Reilly Media, Inc.
More info about the event: http://wiki.agroknow.gr/agroknow/index.php/Athens_Green_Hackathon_2013
Three Necessary tools for high Affiliate Marketers
Your Own Website, Incentives, Link Popularity, it is something to bring on the table when you have a meeting with Affiliate Marketers.
Experience Design + The Digital Agency (Phizzpop version)David Armano
The document discusses the evolution of experience design from focusing on specialized fields like usability to a more holistic approach that blurs lines between disciplines. It notes experience design exists at the intersection of human, technical, and aesthetic interests. The role of agencies is also becoming more blurred as they work across advertising, marketing, design, and other areas. The document advocates for a T-shaped approach to experience design, with both deep expertise and ability to collaborate broadly. It argues experience design will continue solving complex problems through creative solutions.
Mobile Business Applications can be devloped on a low budget and its value to business is increasing every day.
Best Business Apps is the lading mobile application developer in Australia.
Contact us now on 1300 655 517.
Bots are one of the key mobility trends in 2016 and have the potential to transform enterprises. Bots perform tasks based on predefined rules and some use artificial intelligence (AI) for "smart" capabilities. While mobility has increased, it has not significantly changed how organizations operate. Bots can address gaps that have limited the impact of mobility by enabling personalized responses, automating workflows, and making mobile devices more embedded in business processes.
Qihoo 360 is China's leading antivirus and security software company with nearly 380 million active users. While Qihoo initially made money through selling security software, it now generates about 75% of its revenue from advertisements on its free browser. Qihoo sees opportunities to further monetize its large user base through mobile security, cloud services, and games. However, Qihoo faces competition from other large Chinese tech companies like Baidu and Tencent that are looking to grow their presence in the security software market.
This document provides a summary of a report on the economics of the internet value chain. It finds that the total value of the internet has almost tripled from $1.2 trillion in 2008 to $3.5 trillion in 2015 due to more people accessing the internet via various devices and using it for more activities. While innovation continues, the leading companies in different segments have established strong positions and returns have converged between 5-25%. The largest players are expanding into adjacent segments to leverage their scale.
Internet Value Chain Economics Final 050210Laurent Viviez
This document summarizes findings about the global internet value chain. It describes how the value chain has grown rapidly, with total revenues estimated at $1.9 trillion in 2008. More than 60% of revenues come from business-to-business activities, while consumer spending is largest for internet access and devices. Online services represent $242 billion in revenues, with search engines capturing over 1/3. The most concentrated and profitable parts of the value chain are online services like gaming, search, and hardware categories like smartphones and consoles. The internet continues to grow rapidly but its future development is uncertain.
The internet ecosystem is a complex and involves multiple activities and players. Study breaks down the internet value chain into five main markets: Content Rights, Online Services, Enabling Technology/Services, Connectivity and User Interface (devices and applications).
China has emerged on the world stage with a brace of global tech companies that are innovative and competitive. And increasingly, their successes are being studied and replicated in other markets.
This third edition of the China Internet Report delves deeper and broader into China’s drive to be a global leader for innovation, and examines the opportunities and challenges for its technology-led industrial transformation.
Get the complete picture of your SEO campaignsCrafted
The document discusses changes in how search engine traffic is measured and attributed due to changes by Apple, Google, and browsers. Specifically, it notes that traffic from iOS 6 devices and secure Google searches will now appear as direct instead of organic. This makes year-over-year organic traffic comparisons less reliable. Reporting and metrics will need to adapt to these new attribution models to provide an accurate picture of search marketing campaigns.
From our local office at Beijing, we are glad to release an introduction to the Chinese Internet Market.
With the chinese economy still growing fast, the internet market has experimented an incredible growth in recent years. And what is more promising, every analysis foresee what is seems to be an unprecedented boom for the years to come.
Mary Meeker Internet Trends Report for 2019Eric Johnson
Mary Meeker Internet Trends Report for 2019 - Mary Meeker has been a leading analyst and guru for all things internet business for many years. This report outline's Ms Meeker's review of trends for the year 2019. Topics include:
1) Users
2) E-Commerce + Advertising
3) Usage...
4) Freemium Business Models
5) Data Growth
6) ...Usage
7) Work
8) Education
9) Immigration + USA Inc.
10) Healthcare
11) China (Provided by Hillhouse Capital)
The document discusses digital communications trends in China for the year 2011. Some key trends highlighted include companies re-activating lapsed social media presences from 2007-2008, a rise in the use of infographics to visualize complex data, companies developing their own private social networks, more executives curating their own online presences, rapid growth of mobile internet usage driven by smartphones, integration of social media channels into corporate websites, increased use of location-based communications services, and continued growth of social commerce driven by group shopping features on e-commerce sites.
The document discusses digital communications trends in China for the year 2011. Some key trends highlighted include companies re-activating lapsed social media presences from 2009-2010, a rise in the use of infographics to visualize complex data, companies developing their own private social networks to engage audiences, and more executives curating their own online presences. It also notes the rise of location-based communications, social commerce, and integration of social channels into corporate websites.
The document analyzes characteristics of the Chinese internet market. It finds that China has one of the world's largest internet markets in terms of users and online spending. The market has also experienced very strong growth. However, potential remains as internet penetration is still lower than other G20 countries. The market is characterized by young users who prefer mobile access and try new apps quickly. Competition is also intense as ecosystems form around major players.
A primer on the Fintech market in India, with infographics on the market landscape, size and evolution paths. Includes estimates on penetration levels of digital banking and category specific growth expectations.
This document provides an overview and analysis of the Chinese Internet market. It begins with an agenda outlining the topics to be covered, including the characteristics of the Chinese market, how it has achieved strong growth, factors influencing competition, and how the market may evolve in the future. Some key points made about the Chinese Internet market are that it has over 710 million users, is growing rapidly year-over-year, and contributes nearly 7% of China's GDP, highlighting its importance. Younger users that prefer mobile access and apps are adopted more quickly in China compared to other markets. The document aims to decode and explain the dynamics shaping the Chinese Internet landscape.
Opportunities in China's Startup EcosystemCasey Lau
The document discusses opportunities in China's startup ecosystem. It notes China's large population and rapid growth of internet and mobile users, creating vast opportunities in e-commerce, gaming, travel and other sectors. However, it also notes challenges such as customer acquisition, intellectual property protection, and dependence on a few large internet companies. Sources of funding for startups include new angel investors, venture capital, government programs, and the potential for increased cross-border and public market exits. Overall, the ecosystem presents many opportunities but also uncertainties that entrepreneurs must navigate.
Opportunities in China's Startup EcosystemZhenFund
The 2013 update from ZhenFund on the state of China's technology startup ecosystem. Last time we outlined the 3C's 2E's in understanding the differences between China and Silicon Valley. This year we focus on some of the positive trends we see developing in the startup ecosystem.
The document provides an overview of recent news and developments in technology and venture capital. Key points include: community growth in cryptocurrency despite price fluctuations; improvements to core blockchain infrastructure and accessibility; and advances in oversight of the cryptocurrency space. It also notes the rise of live, communal interactions through apps like HQ Trivia despite the dominance of on-demand entertainment. Finally, it summarizes recent funding rounds, acquisitions, and other company news.
The document discusses the web browser industry. It provides an overview of the industry structure and key players like Internet Explorer and Firefox. It analyzes factors like demographics of Indian internet users, usage patterns, and success factors for browsers. Porter's Five Forces model is applied, examining rivalry, barriers to entry, and other forces. The future of the industry is promising as internet access increases in India through various technologies and policies.
Chinese tech companies are increasingly influencing global technology trends. China pioneered the "super app" model exemplified by WeChat, which offers multiple services through a single platform, and this model is now being replicated by companies like Facebook, LINE, and Go-Jek. China is also leading in the adoption of 5G networks and using artificial intelligence on a large scale. Additionally, China's social credit system is becoming a reality and aims to rate citizens' trustworthiness.
Back to-school spending grows as parents restock, replenish children’s needs中文互联网数据研究资讯中心--199it
The document is a survey of 8,509 adults in the United States conducted in July 2012 about back-to-school shopping. Some key findings include:
- 31% of respondents have children aged 6-17 living in their household.
- Respondents plan to spend an average of $258 on clothing, $139 on shoes, and $100 on school supplies.
- Most shopping (67%) will be done at discount stores, with department stores, clothing stores, and online also being popular options.
- Nearly half of respondents (48%) will begin shopping 3 weeks to 1 month before school starts.
This document discusses how the economics of online advertising are affected by the supply and demand of digital ad impressions. It argues that treating all delivered ad impressions as equal creates an oversupply that depresses prices. By focusing on viewable impressions, the supply becomes limited like other media, and scarcity is reestablished. This benefits publishers by allowing them to charge prices more reflective of the true value provided to advertisers, increasing revenue potential for publishers. Overall, shifting to viewable impressions as the currency improves ad effectiveness measurement and creates a win-win scenario for advertisers, consumers, and publishers.
The document summarizes a study that analyzed how demographic-based TV media plans perform for key consumer packaged goods (CPG) brands. The study found that demo-based plans are inefficient, as they reach all buyer groups equally regardless of their value to brands. On average, brands wasted 30% of exposures on households that did not participate in their categories. Only 15% of exposures reached households that accounted for 80% of sales. Demographics are a poor surrogate for purchasing behavior, as over half of sales fell outside the largest demographic groups used for targeting. The findings suggest media plans should transition from demographic targeting to purchase-based audience buying to improve efficiency.
The document summarizes key developments in the 4-year history of the Apple App Store:
- The number of available apps has grown from 500 at launch to over 650k currently, though 334k apps have also been removed.
- The US initially dominated downloads but has lost some share to growing Asian markets like China and Japan in recent years.
- While total downloads increased, average downloads per app among the top 200 has declined from 15.4 to 8.4 as the store has become more fragmented.
- Revenues have grown due to the rise of in-app purchases, now generating 68% of revenue among top grossing apps compared to 7% four years ago.
Automobiles are a top driver of internet advertising. Cars increased their internet advertising spending by 80.2% in the period from January to April 2012, making them the fourth largest advertising product group online. Audi increased its advertising spending the most of any automaker, nearly doubling its expenditures and focusing on promoting the A1 and A4 models. Mobile display advertising for cars has also grown significantly.
Comscore media metrix ranks top 50 u.s. web properties for june 2012中文互联网数据研究资讯中心--199it
1) According to a June 2012 report by comScore, travel and retail websites saw increased traffic as summer began, with Americans booking travel and purchasing items for summer activities.
2) Top gaining categories included travel sites like hotels and cruises, as well as retail sites for sports/outdoor, toys, and tickets.
3) The top 50 overall websites included Google, Yahoo, Microsoft, Facebook and Amazon, while fast growing sites included Zynga and The Mozilla Organization.
The document discusses how retailers are working to enhance the customer experience in response to changing customer behaviors and expectations. A survey found that within five years, over 40% of retailers expect to provide personalized product details and coupons to customers based on location. Over 50% of transactions are expected to be completed via mobile. The primary drivers for retailers to invest in new technologies are improving customer service (51%) and keeping pace with competition (22%). The document argues that retailers must provide seamless omnichannel experiences to meet rising customer expectations of having information and options available both online and in physical stores.
1) "Next generation" retailers like flash sale sites dominate traditional online retailers in growing customer lifetime value in a customer's first year, capturing 385% of a customer's first month's spending on average compared to 94% for traditional retailers.
2) Customers of daily deal, group buying, and flash sale sites purchase nearly twice as frequently on average than customers of traditional online retailers, with 49-52 days between purchases compared to 89 days.
3) However, purchases from traditional online retailers are over 50% larger on average than from "next generation" retailers, at $105 compared to $61-82.
The study found that (1) Fortune Global 100 companies are mentioned over 10 million times per month on social media, primarily on Twitter, (2) social media usage among these companies has grown significantly in recent years as more create accounts and engage with users, and (3) companies are increasingly creating original content and multiple specialized accounts to target different audiences and regions on diverse platforms like Twitter, Facebook, YouTube, Google+, and Pinterest.
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麦格理证券研究:2011年4月中国互联网流量监测观察报告(下载)
1. CHINA
Internet Traffic Tracker
Valuation Summary
Stock code Company Mkt price Rating TP (US$) Beyond the stories
(US$)
SINA US Sina 111.3 OP 95.0 Event
BIDU US Baidu 140.7 OP 145.0
DANG US Dangdang 19.4 OP 36.0 This report is our first issue of Internet Traffic Tracker to analyse Internet
YOKU US Youku 53.0 UP 32.0
traffic data and trends of leading Chinese websites in major segments such as
Source: Macquarie Research, April 2011
th
Prices as of 12 April, 2011 portals, search, video, e-commerce, miniblog, and SNS. While investors and
analysts alike often are captivated by the exciting “stories” of Internet
companies, we believe the traffic data can help substantiate the fundamentals
beyond just the “stories”. Key observations include online video is a lot more
competitive than many believe and SNS is not growing much. Retain
Outperform on Sina, Baidu, Dangdang and Underperform on Youku.
Impact
Portal. It is an oligopoly segment and the data shows that Internet users
increasingly gravitate towards the top 5 portal sites for news. However,
NetEase has lost share in its portal (163.com). Given it is a mature segment,
relatively modest change in market share is expected. All leading portals have
other major businesses.
Search. It is a duopoly segment but appears to be moving to a near monopoly
segment. Baidu has been gaining share at the expense of Google China and
Soso (Tencent). With its partnership with Alibaba, Sogou (Sohu) has been
ramping up its user base.
Online video. It is a highly fragmented and competitive segment with 8 video
sites having over 30% penetration into the total Internet video user population
in China. In addition, the data does not capture the peer-to-peer video
software users, implying the segment is even more competitive than the data
here suggests. Youku remains the leader but Qiyi and Sohu are catching up
fast. Surprisingly, smaller sites such as Xunlei, 56 and K6 have been able to
hold on to their users and grow in line with the market, with total users +30%
YoY.
E-commerce. Number of ecommerce users is growing at 50+% YoY, faster
than any other segment except miniblog. Group buy players such as Lashou
are rapidly ramping up user base. Among conventional B2C players, market
share and visitor patterns have seen little change. Dangdang is holding on to
its penetration rate in monthly unique visitors despite competitive concerns.
Miniblog. Hottest segment in Internet in China with total miniblog users up
10x from a year ago. Sina’s Weibo still dominant but Tencent and Sohu
appear to be catching up.
Social Network Services. Despite a lot of attention placed on SNS by
investors and analysts, the space is not growing much in China. #1 SNS site
Renren has been maintaining its user base while #2 Kaixin is seeing a YoY
decline in its monthly unique visitor counts.
Jiong Shao, CFA, CMT
+852 3922 3566 jiong.shao@macquarie.com Outlook
Steve Zhang, CFA
+852 3922 3578 steve.zhang@macquarie.com We continue to believe that Chinese Internet has entered into a new phase
Jose Pun
+852 3922 3593 jose.pun@macquarie.com with many new business models having emerged. With quite a few exciting
“stories”, it is important for analysts and investors to figure out what is real and
13 April 2011 what is talk. Therefore, we believe analysis of data traffic is a critical element
Macquarie Capital Securities Limited of Internet research.
Please refer to the important disclosures and analyst certification on inside back cover of this document, or on our
website www.macquarie.com.au/disclosures.
2. Macquarie Research Internet Traffic Tracker
Analysis
Portals (Oligopoly) – Internet users increasingly rely on top portal sites; pecking order
unlikely to change anytime soon
The total number of monthly unique visitors increased 18% YoY and reached 373.6 mn in Feb 2011,
suggesting over 80% of Chinese Internet users visited portal sites in that month. Given portal is a
mature segment of the Chinese Internet industry, significant market share shift and meaningful
change in competitive positioning among players should not be expected. However, we have
observed that NetEase’s portal site (163.com) has lost some share in terms of % of portal users who
visited 163.com over the last few months according to the data below. In addition, the data suggests
that outside of the top 5 portal sites (qq.com, sina.com.cn, 163.com, sohu.com, ifeng.com) the rest of
the portals appear to be losing Internet users’ interest. Across the board, a smaller percentage of
total portal visitors are using tier 2 portal sites (yahoo.com.cn, msn.com.cn, china.com, yahoo.com,
tom.com, 21cn.com, msn.com) today than a year ago. Generally speaking, Chinese Internet users
appear to increasingly gravitate towards top portal sites for news. We expect this trend to continue.
Fig 1 Web portal monthly unique visitors (‘m)
Web portal monthly unique visitors('m) 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Total 306.8 315.6 372.1 365.7 350.7 346.7 359.0 359.8 357.9 348.3 355.8 358.8 367.4 373.6
qq.com 283.1 287.1 347.1 344.4 324.8 325.3 339.2 339.3 336.5 328.7 336.1 335.4 344.1 350.0
sina.com.cn 234.7 218.5 271.0 279.2 266.2 269.2 275.4 276.6 267.7 272.8 275.6 279.9 281.3 289.7
163.com 210.3 178.2 235.3 244.5 229.7 227.9 231.0 236.0 228.7 228.2 233.4 238.9 234.8 230.0
sohu.com 188.9 167.3 221.2 226.9 214.7 217.6 212.9 214.1 203.1 211.4 212.9 219.2 222.9 229.2
ifeng.com 83.7 66.3 91.4 99.9 90.2 89.8 90.7 96.2 99.9 105.0 104.9 106.0 104.9 105.9
yahoo.com.cn 92.4 71.7 100.6 121.5 108.5 107.6 107.7 101.2 95.2 94.8 95.5 101.5 99.8 95.2
msn.com.cn 76.4 65.7 92.4 98.3 85.9 84.2 81.4 81.4 74.0 72.1 88.7 71.6 66.6 63.3
china.com 31.4 23.8 32.1 33.0 35.3 33.7 31.9 36.1 37.7 39.3 33.1 33.0 31.5 32.3
yahoo.com 30.4 22.3 31.7 33.7 32.2 33.0 31.1 31.8 29.9 30.3 30.0 29.2 26.9 28.5
tom.com 43.1 31.5 40.6 42.7 39.2 45.5 39.9 37.8 35.6 34.1 29.4 25.1 25.6 24.4
21cn.com 24.3 19.5 26.3 29.4 33.0 34.3 32.7 26.5 22.0 23.9 23.9 22.8 24.9 21.8
msn.com 18.9 14.8 18.7 19.9 21.9 22.7 20.4 23.9 17.4 17.8 34.9 20.1 19.7 18.4
Source: iResearch, Macquarie Research, April 2011
Fig 2 Web portal penetration rate (‘m)
Web portal penetration rate 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
qq.com 92.3% 91.0% 93.3% 94.2% 92.6% 93.8% 94.5% 94.3% 94.0% 94.4% 94.5% 93.5% 93.7% 93.7%
sina.com.cn 76.5% 69.2% 72.8% 76.4% 75.9% 77.6% 76.7% 76.9% 74.8% 78.3% 77.5% 78.0% 76.6% 77.5%
163.com 68.5% 56.5% 63.2% 66.9% 65.5% 65.7% 64.3% 65.6% 63.9% 65.5% 65.6% 66.6% 63.9% 61.6%
sohu.com 61.6% 53.0% 59.5% 62.0% 61.2% 62.8% 59.3% 59.5% 56.8% 60.7% 59.8% 61.1% 60.7% 61.4%
ifeng.com 27.3% 21.0% 24.6% 27.3% 25.7% 25.9% 25.3% 26.7% 27.9% 30.1% 29.5% 29.5% 28.6% 28.3%
yahoo.com.cn 30.1% 22.7% 27.0% 33.2% 30.9% 31.0% 30.0% 28.1% 26.6% 27.2% 26.9% 28.3% 27.2% 25.5%
msn.com.cn 24.9% 20.8% 24.8% 26.9% 24.5% 24.3% 22.7% 22.6% 20.7% 20.7% 24.9% 20.0% 18.1% 16.9%
china.com 10.2% 7.5% 8.6% 9.0% 10.1% 9.7% 8.9% 10.0% 10.5% 11.3% 9.3% 9.2% 8.6% 8.6%
yahoo.com 9.9% 7.1% 8.5% 9.2% 9.2% 9.5% 8.7% 8.8% 8.3% 8.7% 8.4% 8.1% 7.3% 7.6%
tom.com 14.1% 10.0% 10.9% 11.7% 11.2% 13.1% 11.1% 10.5% 9.9% 9.8% 8.3% 7.0% 7.0% 6.5%
21cn.com 7.9% 6.2% 7.1% 8.0% 9.4% 9.9% 9.1% 7.4% 6.1% 6.9% 6.7% 6.3% 6.8% 5.8%
msn.com 6.2% 4.7% 5.0% 5.5% 6.3% 6.5% 5.7% 6.7% 4.9% 5.1% 9.8% 5.6% 5.4% 4.9%
Source: iResearch, Macquarie Research, April 2011
13 April 2011 2
3. Macquarie Research Internet Traffic Tracker
Search (duopoly but moving to monopoly) – Baidu has strengthened its market leadership;
Google & Soso (Tencent) losing ground
In Feb 2011, 356.5mn Internet users searched the web, up 21% YoY. While investors and analysts
often look at search query market share to analyse market positioning of different search engines, we
are using monthly unique visitors here but have reached a similar conclusion – Baidu has been
strengthening its market leadership at the expense of almost every other search engine. Specifically,
95% of search users today in China use Baidu compared to 90% a year ago. On the other hand, the
percentage of search users in China who have been using Google and Soso has been generally
declining over the last year. In Feb 2011, roughly 43% and 27% of search users visited Google and
Soso, respectively, both figures down noticeably from a year ago. Sogou (Sohu), however, has been
gradually increasing its market penetration according to the data below. In Feb 2011, 18% of Internet
search users used Sogou compared to the low teens a year ago.
Fig 3 Web search monthly unique visitors (‘m)
Web search monthly unique visitors('m) 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Total 291.7 294.8 350.4 348.9 331.2 332.5 342.5 342.7 341.4 333.8 340.6 344.8 349.8 356.5
Baidu 267.0 267.4 328.4 332.1 308.3 311.3 320.0 321.0 319.0 313.9 320.6 325.9 332.2 337.7
Google China 168.2 140.7 187.8 186.9 168.5 171.5 177.5 174.7 172.5 168.1 160.8 157.6 154.1 154.5
Soso 99.9 86.8 101.0 106.4 99.6 108.0 111.6 105.7 112.5 110.9 100.8 112.7 100.9 97.3
Sogou 39.9 29.8 42.6 50.0 43.3 43.3 62.5 64.7 59.3 56.6 57.0 58.2 62.4 63.7
Google 39.6 28.8 46.9 50.0 42.8 41.7 43.5 45.1 41.2 44.3 41.1 39.8 36.2 38.9
Bing 21.5 15.2 24.2 24.5 21.7 22.3 21.4 21.0 20.7 20.8 23.7 21.2 21.6 20.0
Youdao 9.4 5.8 8.4 11.6 15.1 15.4 15.6 17.6 18.7 23.1 22.6 22.9 15.4 14.7
Gougou 22.4 15.6 17.8 19.3 21.4 19.2 18.9 14.8 13.3 13.9 12.8 10.2 10.1 9.1
Yahoo China 4.7 3.0 4.4 5.1 5.6 5.4 4.5 5.4 3.8 4.0 3.8 3.6 2.9 2.9
Source: iResearch, Macquarie Research, April 2011
Fig 4 Web search penetration rate (by monthly unique visitors)
Web search penetration rate 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Baidu 91.5% 90.7% 93.7% 95.2% 93.1% 93.6% 93.4% 93.7% 93.4% 94.0% 94.1% 94.5% 95.0% 94.7%
Google China 57.7% 47.7% 53.6% 53.6% 50.9% 51.6% 51.8% 51.0% 50.5% 50.4% 47.2% 45.7% 44.1% 43.3%
Soso 34.3% 29.4% 28.8% 30.5% 30.1% 32.5% 32.6% 30.8% 33.0% 33.2% 29.6% 32.7% 28.9% 27.3%
Sogou 13.7% 10.1% 12.1% 14.3% 13.1% 13.0% 18.2% 18.9% 17.4% 17.0% 16.7% 16.9% 17.8% 17.9%
Google 13.6% 9.8% 13.4% 14.3% 12.9% 12.6% 12.7% 13.2% 12.1% 13.3% 12.1% 11.5% 10.3% 10.9%
Bing 7.4% 5.2% 6.9% 7.0% 6.5% 6.7% 6.2% 6.1% 6.1% 6.2% 7.0% 6.2% 6.2% 5.6%
Youdao 3.2% 2.0% 2.4% 3.3% 4.6% 4.6% 4.5% 5.1% 5.5% 6.9% 6.6% 6.6% 4.4% 4.1%
Gougou 7.7% 5.3% 5.1% 5.5% 6.5% 5.8% 5.5% 4.3% 3.9% 4.2% 3.7% 3.0% 2.9% 2.6%
Yahoo China 1.6% 1.0% 1.3% 1.5% 1.7% 1.6% 1.3% 1.6% 1.1% 1.2% 1.1% 1.1% 0.8% 0.8%
Source: iResearch, Macquarie Research, April 2011
Video (highly fragmented and competitive) – 8 video sites that have 30% or higher penetration
rate among video viewers; Qiyi the fastest grower
In Feb 2011, there were 343mn Internet video users in China, up 30% YoY, and eight video sites
each had at least 30% penetration among Internet video users, suggesting a highly fragmented
marketplace. In other words, for each of these 8 sites, at least 30% of the Chinese Internet video
users visited the site in the month of Feb. Over the last 12 months, Youku has gained modestly in
penetration to now about 65% while #2 player Tudou has largely maintained its penetration of around
55%. The biggest share gainers are Qiyi and Sohu. Since its inception less than a year ago, Qiyi now
has about 30% penetration. With significant investments in video, Sohu has been gradually
improving its penetration from mid 20s a year ago to high 30s today. Somewhat surprisingly, smaller
players such as Ku6, Xunlei, and 56 have largely maintained their penetration rate. While many
industry observers have been predicting upcoming industry consolidation, the reality appears, for the
time being, that the Chinese Internet video industry today remains highly fragmented and
competitive. We also highlight that the data below excludes peer-to-peer software sub-segment of
the Internet video industry, making the online video market even more competitive.
13 April 2011 3
4. Macquarie Research Internet Traffic Tracker
Fig 5 Online video website monthly unique visitors (‘m)
Online video website monthly unique visitors ('m) 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Total 270.5 264.3 309.4 315.8 305.5 307.9 318.9 324.5 317.1 313.9 322.9 329.3 335.6 343.4
Youku 171.1 153.5 182.1 193.7 194.8 199.2 207.3 213.7 203.0 206.5 203.6 209.4 215.9 225.6
Tudou 152.0 134.4 152.9 165.9 167.7 170.2 177.0 183.6 176.1 177.1 175.6 182.4 186.7 188.9
Sohu 61.8 65.7 81.7 81.3 84.5 84.1 91.6 95.5 84.9 89.3 95.7 107.9 119.6 128.0
Qiyi - - - 2.1 2.6 2.2 28.1 43.4 44.6 50.4 51.6 56.3 76.5 102.4
Ku6 98.2 79.1 90.8 101.1 110.8 124.0 125.0 123.3 110.5 113.0 120.1 120.3 122.0 112.4
Sina 107.0 88.5 104.0 110.6 114.0 107.6 107.4 117.2 114.4 119.2 122.4 115.5 117.7 124.0
Xunlei 112.3 94.3 108.7 117.1 122.0 119.9 120.3 118.0 111.4 115.1 105.5 109.5 129.2 120.5
56 95.7 81.4 95.3 103.7 113.1 110.0 108.1 112.7 103.7 110.7 103.6 110.5 107.0 106.7
PPTV 30.6 34.8 39.9 32.9 30.6 45.6 48.5 49.2 38.5 41.8 51.6 54.6 56.3 46.5
CNTV 31.5 35.7 40.1 45.1 41.7 72.6 58.3 52.9 52.4 58.0 65.9 59.0 67.1 73.7
PPS 45.3 40.9 40.8 48.9 48.2 50.4 55.9 54.7 48.4 52.6 55.0 54.4 60.5 56.8
Six Rooms 36.2 29.7 30.6 28.6 29.4 32.7 34.6 36.2 27.8 26.3 27.9 26.0 27.3 33.0
Joy.cn 41.2 35.1 43.3 43.0 47.7 51.4 50.8 51.4 49.4 48.7 35.9 34.7 40.0 41.9
Letv 15.2 19.6 19.2 19.6 18.5 17.4 20.0 30.9 26.3 25.1 25.2 28.4 35.9 42.8
Source: iResearch, Macquarie Research, April 2011
Fig 6 Online video website penetration rate (by monthly unique visitors)
Online video website penetration rate 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Youku 63.3% 58.1% 58.9% 61.3% 63.8% 64.7% 65.0% 65.8% 64.0% 65.8% 63.0% 63.6% 64.3% 65.7%
Tudou 56.2% 50.9% 49.4% 52.5% 54.9% 55.3% 55.5% 56.6% 55.5% 56.4% 54.4% 55.4% 55.6% 55.0%
Sohu 22.8% 24.8% 26.4% 25.8% 27.7% 27.3% 28.7% 29.4% 26.8% 28.4% 29.6% 32.8% 35.6% 37.3%
Qiyi 0.7% 0.9% 0.7% 8.8% 13.4% 14.1% 16.1% 16.0% 17.1% 22.8% 29.8%
Ku6 36.3% 29.9% 29.3% 32.0% 36.3% 40.3% 39.2% 38.0% 34.9% 36.0% 37.2% 36.5% 36.4% 32.7%
Sina 39.5% 33.5% 33.6% 35.0% 37.3% 35.0% 33.7% 36.1% 36.1% 38.0% 37.9% 35.1% 35.1% 36.1%
Xunlei 41.5% 35.7% 35.1% 37.1% 39.9% 38.9% 37.7% 36.4% 35.1% 36.7% 32.7% 33.2% 38.5% 35.1%
56 35.4% 30.8% 30.8% 32.8% 37.0% 35.7% 33.9% 34.7% 32.7% 35.3% 32.1% 33.6% 31.9% 31.1%
PPTV 11.3% 13.2% 12.9% 10.4% 10.0% 14.8% 15.2% 15.1% 12.1% 13.3% 16.0% 16.6% 16.8% 13.5%
CNTV 11.6% 13.5% 12.9% 14.3% 13.7% 23.6% 18.3% 16.3% 16.5% 18.5% 20.4% 17.9% 20.0% 21.5%
PPS 16.7% 15.5% 13.2% 15.5% 15.8% 16.4% 17.5% 16.9% 15.3% 16.8% 17.0% 16.5% 18.0% 16.5%
Six Rooms 13.4% 11.2% 9.9% 9.0% 9.6% 10.6% 10.8% 11.2% 8.8% 8.4% 8.6% 7.9% 8.1% 9.6%
Joy.cn 15.2% 13.3% 14.0% 13.6% 15.6% 16.7% 15.9% 15.8% 15.6% 15.5% 11.1% 10.5% 11.9% 12.2%
Letv 5.6% 7.4% 6.2% 6.2% 6.1% 5.7% 6.3% 9.5% 8.3% 8.0% 7.8% 8.6% 10.7% 12.5%
Source: iResearch, Macquarie Research, April 2011
E-commerce (fast growing; steady competitive landscape) – 51% YoY growth in unique
visitors; group buying is the new trend
In Feb 2011, there were a total of 290.8mn online shoppers, up from 192.7mn a year earlier, +51%
YoY. We highlight that the growth rate in unique visitors for ecommerce is higher than that for video,
which may be counter-intuitive for some given all the attention placed on video by investors.
Generally speaking, most of the leading ecommerce sites, such as Taobao and Dangdang, have
largely maintained their penetration rates among online shoppers. Another general observation is
that group buying sites have been embraced by online shoppers with top group buy sites such as
Lashou and Meituan having reached double-digit penetration among internet shoppers in less than a
year of being in operation. For Dangdang, despite intensifying competition in ecommerce area, the
company has largely maintained its double-digit penetration rate.
Fig 7 E-commerce website monthly unique visitors (‘m)
E-commerce monthly unique visitors('m) 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Total 216.7 192.7 249.1 260.7 249.2 250.4 260.9 272.2 271.7 270.1 276.2 290.4 289.2 290.8
Taobao (C2C) 151.7 127.6 174.9 188.9 184.2 182.9 190.3 200.0 202.1 199.6 211.8 220.1 217.9 205.1
Taobao Mall (B2C) - - - - - - - - - - 92.2 107.8 103.1 87.9
Taobao (Group buy) - - - - - - 22.6 32.3 26.0 31.3 52.3 76.2 75.6 67.0
Paipai (C2C) 51.5 36.2 48.1 52.0 54.3 55.6 58.3 59.6 59.2 60.7 60.4 72.1 63.6 62.7
Alibaba China (B2B) 51.9 34.7 55.7 56.0 54.9 67.8 67.4 75.3 76.1 82.0 73.4 70.6 47.3 49.1
Laishou (Group buy) 0.0 0.0 0.0 0.0 0.0 1.3 9.1 13.8 20.4 29.0 33.7 43.9 45.1 48.6
360Buy (B2C) 20.7 17.0 25.9 28.1 26.6 33.1 35.2 38.2 37.1 36.1 34.6 41.9 39.4 35.6
Meituan (Group buy) - - - - - 0.9 5.6 9.9 12.3 13.0 15.0 23.6 30.4 34.1
Dangdang (B2C) 26.2 16.7 27.1 30.1 28.1 29.5 30.1 33.7 32.0 33.2 33.0 36.6 30.6 30.4
Amazon China (B2C) 25.3 18.1 27.9 29.3 27.1 24.9 27.0 26.7 28.9 29.2 26.4 30.2 29.5 29.3
Tencent (Group buy) - - - - - - 2.8 5.0 8.0 12.3 12.3 19.3 25.1 25.9
Alibaba (B2B) 13.1 9.0 20.7 21.1 24.6 31.2 31.6 32.4 27.5 32.0 31.1 37.7 25.9 23.8
Source: iResearch, Macquarie Research, April 2011
13 April 2011 4
5. Macquarie Research Internet Traffic Tracker
Fig 8 E-commerce website penetration rate (by monthly unique visitors)
E-commerce penetration rate 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Taobao (C2C) 70.0% 66.2% 70.2% 72.5% 73.9% 73.1% 72.9% 73.5% 74.4% 73.9% 76.7% 75.8% 75.3% 70.5%
Taobao Mall (B2C) 33.4% 37.1% 35.7% 30.2%
Taobao (Group buy) 8.6% 11.9% 9.6% 11.6% 18.9% 26.2% 26.1% 23.0%
Paipai (C2C) 23.8% 18.8% 19.3% 20.0% 21.8% 22.2% 22.3% 21.9% 21.8% 22.5% 21.9% 24.8% 22.0% 21.6%
Alibaba China (B2B) 24.0% 18.0% 22.4% 21.5% 22.0% 27.1% 25.8% 27.7% 28.0% 30.3% 26.6% 24.3% 16.3% 16.9%
Laishou (Group buy) 0.5% 3.5% 5.1% 7.5% 10.7% 12.2% 15.1% 15.6% 16.7%
360Buy (B2C) 9.6% 8.8% 10.4% 10.8% 10.7% 13.2% 13.5% 14.0% 13.7% 13.4% 12.5% 14.4% 13.6% 12.2%
Meituan (Group buy) 0.3% 2.1% 3.7% 4.5% 4.8% 5.4% 8.1% 10.5% 11.7%
Dangdang (B2C) 12.1% 8.7% 10.9% 11.5% 11.3% 11.8% 11.5% 12.4% 11.8% 12.3% 11.9% 12.6% 10.6% 10.4%
Amazon China (B2C) 11.7% 9.4% 11.2% 11.2% 10.9% 10.0% 10.4% 9.8% 10.6% 10.8% 9.6% 10.4% 10.2% 10.1%
Tencent (Group buy) 1.1% 1.9% 3.0% 4.6% 4.5% 6.7% 8.7% 8.9%
Alibaba (B2B) 6.0% 4.6% 8.3% 8.1% 9.9% 12.5% 12.1% 11.9% 10.1% 11.8% 11.3% 13.0% 8.9% 8.2%
Source: iResearch, Macquarie Research, April 2011
Miniblog (hottest segment; probably to become more competitive) – battle continues on; SINA
remains dominant
In Feb, there were a total of 206mn miniblog monthly unique visitors in China, according to
iResearch. We decided to use daily unique visitor stats for the miniblog segment as opposed to
monthly unique visitor stats because of the rapidly changing market environment and significant
difference in activeness of miniblog users on different sites. For example, both Sina and Tencent had
over 100mn unique visitors in Feb, but Sina had 14.2mn daily unique visitors that month while
Tencent had 8.7mn, suggesting that Sina’s miniblog users log on more often (on daily basis) than
Tencent miniblog users. In terms of the penetration rate, Sina has broadly maintained its 50%
penetration rate (ie half of China’s average daily miniblog users logged onto Sina’s Weibo) while
Tencent and Sohu appear to be catching up to now hold about 30% and 15% penetration rate,
respectively, while Baidu’s and Qihoo’s miniblog user base penetration has declined over the past
year. Sina has the first mover advantage in the miniblog space and all top three players here are
making significant investments in this hotly contested segment.
Fig 9 Miniblog daily unique visitors (‘000)
Miniblog daily unique visitors ('000) 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Total 3,841 5,415 6,829 9,566 9,770 11,050 12,398 13,201 16,686 19,535 24,092 28,424
Sina weibo 1,760 2,507 3,203 4,462 5,130 6,288 6,642 7,210 9,437 10,640 12,292 14,229
Tencent miniblog 67 330 774 1,161 1,132 1,660 2,052 2,547 3,094 4,273 6,371 8,686
Sohu miniblog 120 332 537 994 708 443 860 820 1,718 2,273 4,021 4,125
Baidu miniblog 872 1,166 1,166 1,864 1,876 1,909 1,668 1,602 1,537 1,699 1,616 2,364
Qihoo miniblog 966 980 1,047 1,065 1,013 1,084 1,343 1,248 1,367 1,311 1,175 1,235
Netease miniblog 76 178 261 473 328 225 280 312 443 585 772 1,132
iFeng miniblog - - - - - - 20 93 104 114 181 196
Digu miniblog 103 78 94 115 73 68 47 51 56 69 82 107
Twitter - - - - - - - - - - - 86
Tongxue miniblog 111 101 109 88 73 79 239 102 56 47 43 51
Zuosa miniblog 47 38 33 26 34 22 25 22 24 22 31 36
Follow5 miniblog - 38 18 32 24 18 21 21 32 20 20 33
9911 miniblog 49 44 34 36 27 36 33 34 18 20 32 19
Source: iResearch, Macquarie Research, April 2011
13 April 2011 5
6. Macquarie Research Internet Traffic Tracker
Fig 10 Miniblog penetration rate (by daily unique visitors)
Miniblog penetration rate 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Sina weibo 45.8% 46.3% 46.9% 46.6% 52.5% 56.9% 53.6% 54.6% 56.6% 54.5% 51.0% 50.1%
Tencent miniblog 1.7% 6.1% 11.3% 12.1% 11.6% 15.0% 16.6% 19.3% 18.5% 21.9% 26.4% 30.6%
Sohu miniblog 3.1% 6.1% 7.9% 10.4% 7.2% 4.0% 6.9% 6.2% 10.3% 11.6% 16.7% 14.5%
Baidu miniblog 22.7% 21.5% 17.1% 19.5% 19.2% 17.3% 13.5% 12.1% 9.2% 8.7% 6.7% 8.3%
Qihoo miniblog 25.1% 18.1% 15.3% 11.1% 10.4% 9.8% 10.8% 9.5% 8.2% 6.7% 4.9% 4.3%
Netease miniblog 2.0% 3.3% 3.8% 4.9% 3.4% 2.0% 2.3% 2.4% 2.7% 3.0% 3.2% 4.0%
iFeng miniblog 0.2% 0.7% 0.6% 0.6% 0.8% 0.7%
Digu miniblog 2.7% 1.4% 1.4% 1.2% 0.7% 0.6% 0.4% 0.4% 0.3% 0.4% 0.3% 0.4%
Twitter 0.3%
Tongxue miniblog 2.9% 1.9% 1.6% 0.9% 0.7% 0.7% 1.9% 0.8% 0.3% 0.2% 0.2% 0.2%
Zuosa miniblog 1.2% 0.7% 0.5% 0.3% 0.3% 0.2% 0.2% 0.2% 0.1% 0.1% 0.1% 0.1%
Follow5 miniblog 0.7% 0.3% 0.3% 0.2% 0.2% 0.2% 0.2% 0.2% 0.1% 0.1% 0.1%
9911 miniblog 1.3% 0.8% 0.5% 0.4% 0.3% 0.3% 0.3% 0.3% 0.1% 0.1% 0.1% 0.1%
Source: iResearch, Macquarie Research, April 2011
Social Networking (highly concentrated segment but not really growing) – It Is a two horse
race, but neither horse is running very fast
Despite all the fanfare, growth of user base of leading Chinese social networking sites has not been
overly impressive, with total user growth of 18% YoY in Feb 2011, in line with total Chinese Internet
user growth. Contrary to the experience in the West (ie Facebook), social networks have not been
embraced by Chinese Internet users as widely. Broadly speaking, leading SNS site Renren’s monthly
unique visitors have been flattish over the last 12 month while #2 player Kaixin has been seeing a
decline in its monthly visitor count. There are many theories behind why Facebook-like social
networks don’t seem to get the same traction in China. For the time being, we have decided to
discount the monthly unique visitor stats for Tencent’s social networking offering as we believe
iResearch or Tencent may have reclassified some of the Tencent traffic into Pengyou traffic as our
on-the-ground checks suggested that not many people have used Tencent social networking sites.
Fig 11 Social Network Services website monthly unique visitors (‘m)
SNS monthly unique visitors ('m) 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Total 209.3 185.5 226.8 234.1 214.3 212.1 216.8 226.1 218.3 219.1 219.8 221.8 229.8 217.9
Tencent Pengyou - - - - - - - - - - - 37.2 134.3 135.2
Renren 84.7 71.2 95.1 99.1 92.4 92.5 94.5 95.0 89.3 97.6 95.1 97.7 99.7 92.8
Kaixin 49.2 44.1 64.4 65.1 47.3 45.2 47.7 46.8 42.2 41.2 39.5 35.7 38.3 39.0
51.com 29.5 21.4 26.4 27.2 26.3 22.9 25.7 27.1 24.9 25.7 24.6 23.9 28.2 31.0
MySpace.cn 12.7 7.2 12.7 14.5 14.5 17.5 15.0 16.4 14.1 15.0 11.3 6.3 8.5 9.0
Jiaxingquan - - - - - - - - - - - - 4.0 7.9
China mobile - - - - - - - 9.1 10.5 10.1 9.4 9.8 6.6 6.3
Sohu 20.9 19.2 17.2 12.8 11.3 7.2 6.6 10.6 7.0 4.4 4.1 4.2 4.2 4.5
Facebook 3.9 3.2 3.3 4.3 4.0 3.7 3.5 4.0 3.3 3.6 3.0 3.9 4.5 4.2
Niwota.com 3.3 2.0 2.1 1.7 2.3 2.6 3.3 3.7 3.1 2.5 2.1 1.6 1.7 1.8
iPart.cn 2.2 2.1 3.0 2.9 2.7 2.7 3.0 2.9 3.2 2.8 2.2 1.9 3.6 0.8
MySpace 1.4 0.9 1.2 1.2 1.3 1.2 1.2 1.1 1.2 1.0 0.7 0.9 0.9 0.8
Source: iResearch, Macquarie Research, April 2011
Fig 12 Social Network Services website penetration rate (monthly unique visitors)
SNS penetration rate 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02
Tencent Pengyou 17% 58% 62%
Renren 40% 38% 42% 42% 43% 44% 44% 42% 41% 45% 43% 44% 43% 43%
Kaixin 24% 24% 28% 28% 22% 21% 22% 21% 19% 19% 18% 16% 17% 18%
51.com 14% 12% 12% 12% 12% 11% 12% 12% 11% 12% 11% 11% 12% 14%
MySpace.cn 6% 4% 6% 6% 7% 8% 7% 7% 6% 7% 5% 3% 4% 4%
Jiaxingquan 2% 4%
China mobile 4% 5% 5% 4% 4% 3% 3%
Sohu 10% 10% 8% 5% 5% 3% 3% 5% 3% 2% 2% 2% 2% 2%
Facebook 2% 2% 1% 2% 2% 2% 2% 2% 2% 2% 1% 2% 2% 2%
Niwota.com 2% 1% 1% 1% 1% 1% 2% 2% 1% 1% 1% 1% 1% 1%
iPart.cn 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 2% 0%
MySpace 1% 1% 1% 1% 1% 1% 1% 0% 1% 0% 0% 0% 0% 0%
Source: iResearch, Macquarie Research, April 2011
13 April 2011 6
7. Macquarie Research Internet Traffic Tracker
Important disclosures:
Recommendation definitions Volatility index definition* Financial definitions
Macquarie - Australia/New Zealand This is calculated from the volatility of historical All "Adjusted" data items have had the following
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3000 index return Fundamental Analyst recommendations
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return
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Recommendation proportions – For quarter ending 31 March 2011
AU/NZ Asia RSA USA CA EUR
Outperform 45.65% 65.72% 59.70% 43.02% 68.91% 51.16% (for US coverage by MCUSA, 14.36% of stocks followed are investment banking clients)
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13 April 2011 7