Not yet a Facebook
via WikipediaSome great insights from William Bao Bean, VC at the China/India Softbank, triggered off by Thomas Crampton, He argues against the common cliche that Chinese companies do not innovate. While a Chinese Facebook is still far away, China has its own Sillicon Valley style garages.
To support his argument William cites a company that he recently joined, iTalki, as an example of a Chinese company innovating on a global scale. iTalki is a language exchange site with a global user base that supports more than 100 possible languages. While it does copy some good ideas from other sites, William claims iTalki is the world’s leading language exchange of its kind.