850 million Chinese Online by end-2015

May 12th, 2015 Posted by Capital Markets, China Business Development No Comment yet

This remarkable article provides back story on how a boutique Chinese investment bank convinced Kuadi Dache (backed by Alibaba) and Didi Dache (backed by Tencent) to agree to China’s biggest Internet merger.  The merger created a credible competitor to market-leader Uber.

Among the interesting facts from the story:

  • The Chinese government expects 850m Chinese to be online by the end of this year.
  • Three of China’s richest people are Internet entrepreneurs: Alibaba’s Jack Ma at #2, Tencent’s Ma Huateng at #3, and Baidu’s Robin Li at #4.
  • Beijing, a city with a population of 21.5 million people, is home to 20 tech companies valued at more than $1billion each.

Read the full Bloomberg Markets article here.

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