The document discusses updates to China's startup ecosystem. It notes that internet giants like Alibaba and Tencent are now the main investors and are building their own ecosystems from seed stage to late stage. Startups are increasingly trying to operate within these ecosystems and monetize traffic on platforms. Infrastructure provided by the giants like mobile payments is helping startups generate revenue. The fastest growing companies are leveraging infrastructure, funding, and young leadership to achieve scale. Collaboration between top companies in different sectors is increasing market share and lowering costs. Globalization and international teams are keys for startups to adapt to changing markets.

1. China Startup Ecosystem Update

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DT Capital
LPs: Wal-mart, Goldman Sachs, Top China listed companies,
China local governments and etc.
LPs: Wal-mart, Goldman Sachs, Top China listed companies,
China local governments and etc.
Top investor in China
중국의 대표 투자자
Top investor in China
중국의 대표 투자자
1.8B USD AUM1.8B USD AUM
Most active Chinese investor in Korea
한국에서 활동하는 가장 활발한 중국 투자자
Most active Chinese investor in Korea
한국에서 활동하는 가장 활발한 중국 투자자
From seed stage to pre-IPO, full stage coverage
시드 투자부터 기업공개까지 모든 스테이지에 투자합니다 .
From seed stage to pre-IPO, full stage coverage
시드 투자부터 기업공개까지 모든 스테이지에 투자합니다 .

3. Overview
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Overview of the ecosystem update
The internet giants turn to be the main players of investment
industry:
The internet giants turn to be the main players of investment
industry:
Investment moving to earlier stageInvestment moving to earlier stage
1. Aggressively building their own ecosystem on strategic level;
2. Covering from seed to late stage.
Topping the global startup growthTopping the global startup growth
Doubled every year from 2010, almost 4000 new startups per day in 2015.
Startups are trying to living on the ecosys of internet giantStartups are trying to living on the ecosys of internet giant
1. Startups no more telling the story of “next Taobao” or “next Wechat”;
2. The Wechat, as infrastructure, is giving birth to new unicorns.
-2010 년부터 매년 두배씩 늘어나 , 2015 년엔 거의 하루에 4 천개의 스타트업이 쏟아
짐
초기투자도 이뤄짐
- 타오바오 , 위챗 등 거대 서비스를 인프라로 활용하기 시작함
- 투자를 통해 독자적 생태계 구축 , 시드부터 후기 투자까지 망라함

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A glance at the ecosystem from the internet giant － Tencent
Double “Hundred” Plan
Hundred 亿 to Hundred companies
Tencent Openplatform
25 cities over 500,000 m2
innovation space

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A glance at the ecosystem from the internet giant － Alibaba

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Build co-evolution ecosystem on strategic level
Alibaba 2015 Annual Report:
“Our Strategy:
We aim to strengthen and expand our ecosystem in order to achieve long-term
growth….”
“An ecosystem has developed around our platforms and businesses that
consists of consumers, merchants, brands, other enterprises, third-party
service providers and strategic alliance partners. At the nexus of this
ecosystem are our technology platform, our marketplace rules and the role we
play in connecting these participants to make it possible for them to
discover, engage and transact with each other and manage their
businesses anytime and anywhere. Much of our effort, time and energy is spent
on initiatives that are for the greater good of the ecosystem and on
balancing the interests of its participants. We feel a strong responsibility
for the continued development of the ecosystem and we take ownership
in this development. Accordingly, we refer to this as "our ecosystem."
Our ecosystem has strong self-reinforcing network effects benefitting its
various participants, who are in turn invested in our ecosystem's growth
and success.”
알리바바의 2015 연간 보고서 :
장기적인 성장을 이루기 위해 생태계 확장
의 필요성을 언급함 .

8. Update of China startup ecosystem
8

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Dramatic change of traffic environment and monetization
approach
The big giant turn to be Infrastructure (as of 2016Q1):
•762m MAU for Wechat;
•877m MAU for QQ;
•261m MAU for Webo;
•410m MAU for Alibaba.
The facilities they provide, support the startups to monetize the traffic
e.g Mobile Payment - quick, safe, convenient,playful
•2016 China mobile payment 9.31 Trillion RMB for 2015.
•85,900 transactions per second in 11.11 2015 for Alibaba;
•Over 32 Billion Wechat Red Packets ( 红包 ) during 2016 Spring Festival
(6 days, 9X of 2015).
공룡들이 인프라로 바뀌고 있다 !
스타트업이 트래픽을 매출로 연결시키는 것을 돕는 대형 플랫폼들

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The startups are changing their strategy
Startups move from APP to SNS traffic:
From “beating Wechat” to “live on Wechat”;
From “to be next Webo” to “making money on Webo”.
Case Study: The players in the ecosystem, coevolution with each
other,fantastic business model are emerging.
•Wechat Ticket – Ticket Master on wechat; Valuation 1.5B USD +
•拼好货 – Groupon on Wechat; Valutaion 500m USD +
•一条 – update one video/day in Wechat; Valuation 200m USD+
•如涵 – collection fashion store in Webo; Valutaion 500m USD +
스타트업들은 앱에서 SNS 트래픽으로 이동 중 :
-” 위챗을 이기자” 에서 “위챗에서 놀자” 로
-” 제 2 의 웨이보가 되자” 에서 “웨이보에서 돈벌자” 로

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Infrastructure + Capital + People, world fastest growing
companies
• 5 million food deliveries per day;
• Raise more than 1.1 Billion USD;
• Valuation 4.5 Billion USD ；
• CEO – 1985. Founded the company in 2009.
• Over 14 million daily order ；
• Raise almost 10 Billion USD;
• Valuation 35 Billion USD ；
• CEO – 1983. Founded the company in 2012.
일간 1400 만건 이상의 주문
100 억 불 상당의 투자 유치
350 억 불 상당의 기업 가치평가
1983 년생 CEO 가 2012 년에 회사 설립
일간 1400 만건 이상의 주문
100 억 불 상당의 투자 유치
350 억 불 상당의 기업 가치평가
1983 년생 CEO 가 2012 년에 회사 설립

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No1 getting married with No2 in many areas 1 등 -2 등 사업자의
협업
O2O - TAXI
O2O – Groupbuy
Online Marketing Service
Online Travel
Fashion e-commerce
Larger market share; 더 큰 시장 점유율
Lower marketing cost and burning rate; 더 낮은 마케팅 비용과 창업비용
Exit strategy of investors and opportunities for new fund raising.
투자자들의 출구 전략이자 새 투자유치의 기회가 된다 .

13. Further discussion
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Further discussion
• Globalization is the top topic for Korean startups;
• 세계화는 한국 스타트업들에게 큰 화두이다
• Young and international cultural team is the key to achieve;
• 젊고 국제적인 배경을 가진 팀이 필요하다
• Flat organization and fast execution to adapt the most dynamic market;
• 가장 역동적인 시장에 적응하기 위해 수평적인 조직과 빠른 의사결정
이 필요하다

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Further discussion
• Localize the company to enter into the fastest changing market.
• 가장 빠르게 바뀌는 시장에 진입하기 위해 회사를 현지화해야 함
• Raising fund from or cooperating with international fund is the one of
best ways to start.
• 국제적인 투자기금과 협력하거나 투자를 유치하는 것이 가장 좋은 출
발임 .

16. Thanks!