Douyin – the Chinese name of Tiktok – became a runaway success as a short-video platform in China. Tech watcher Matthew Brennan looks in his book ‘Attention Factory: The Story of TikTok and China’s ByteDance’ at the playbook Bytedance used for their lift-off before they took the platform global. An excerpt from Techcrunch.
China’s Single’s Day continued to be a runaway success after COVID-19, although e-commerce expert Ashley Dudarenok finds it hard to compare it with the previous events because it changed from a one-day event to an 11-days success. But more luxury brands, cars, and even McDonald’s joined the fray, and gamification become important, she tells at state-owned broadcaster CGTN.
E-commerce firm Pinduoduo is closing in on market leader Alibaba, show recent post-corona figures, says marketing expert Arnold Ma in Kr-Asia. Ma believes that the key to Pinduoduo’s growth is its continuing focus on its D2C (direct to consumer) model across manufacturing, agriculture, independent sellers, and new brands.
Most Chinese tech companies tried to figure out what US consumers wanted before they entered the market, but Bytedance did not care when it launched Tiktok in 2018, says internet veteran Matthew Brennan in his book “Attention Factory: The Story of Tiktok and China’s Bytedance.” The lack of strategy almost backfired, but after some hiccups, the company became a runaway success, Brennan writes in an excerpt in Technode.
Trump’s trade war against China has already been put in a backseat during the Covid-19 crisis, and also when US president Trump wins the upcoming elections, the state of the economy might not allow him to uphold the current tariffs, says business analyst Ben Cavender to the Jing Daily. Jing
Zhong Shanshan, founder of the bottled water company Nongfu Spring, pushed Alibaba’s Jack Ma from his position as the richest in China. Rupert Hoogewerf, chief researcher of the Hurun China Rich List, explains how Zhong made it to the top, at CNN Business. Hoogewerf expects a new boom in billionaires from China, he says.