In our review #0000007 this week, we discussed how Tokopedia in Indonesia has taken over the ecommerce throne from Lazada and how Google Tez and Whatsapp’s new peer to peer service is giving Paytm a run for their money.
Here are the interesting news for the past week dated 23 Feb 2018:
“Google’s Tez payments app now lets users handers their utility bills and more“ by Jon Russell in TechCrunch
Summary: Google’s Tez payment service in India has gotten a major update that allows users to pay their utilities and other bills via the app.
My Perspective: Paytm, India’s largest payments company backed Ant Financial from the Alibaba Group has to watch out for competition. The timing as Jon pointed out, came when Facebook is now launching a beta peer to peer payments via Whatsapp where they have 200 million users.
“Alibaba-backed Tokopedia takes online shopping throne“ (FT Confidential Research in Nikkei Asia Review, requires subscription).
Summary: Online marketplace Tokopedia overtook Lazada Indonesia as the country’s most popular internet shop.
My Perspective: This confidential study gives the first glimpse to the ecommerce market in Indonesia. Another interesting datapoint: Shopee, owned by SEA (or Garena) is now number 3 after Tokopedia and Lazada and above Bukalapak, while JD Indonesia has entered into the market and superceded Matahari Mall. The surprise is that even though more Indonesians shop online, the transaction values remain low.
996: Tech and Entrepreneurship in China by Hans Tung and Zara Zhang from GGV Capital
Summary: Interesting podcast on tech & entrepreneurship in China and seriously, they have great guests who you want to listen to.
My Perspective: Interesting podcast which leverages on the recent 996 mentality championed by Chinese entrepreneurs. Do give a listen if you have the opportunity. Liked the first interview with Jerry Yang, where they discussed why Yahoo! invested in Alibaba Group which may be ancient history but still relevant today in how foreign companies approach China.
Articles of Interest which I have curated & you should take a look too:
Zhang Yunan, “Crackdown fails to stop China’s Crypto Gold Rush” (The Information, requires subscription)
Newley Purnell, “Why the iPhone is losing out Chinese Devices in Asia” (Wall Street Journal, requires subscription)
Andy Mukherjee, “Meet Singapore’s Taxpayers’ BFF” (Bloomberg Gadfly)
Takashi Nakano “Southeast Asia faces speed bumps to export-driven growth” (Nikkei Asian Review, requires subscription)
Dexter Roberts, “What happened to China’s baby bump?” (Bloomberg)
Yue Wang, “Tech Giants are creating their own labels to conqure China’s Digital Music market” (Forbes)
Danielle Long, “Baidu posts strong Q4 results and unveils plans to list iQiyi” (The Drum)
Timmy Shen, “China’s Obsession with QR codes” (Technode) – You will see how QR codes are used in China with photos. 🙂