Daily Management Review

Top VC Says That The World Could Be Taken By Storm Soon By Huawei-Sized Companies


03/25/2017




Chinese mobile handset manufacturing company Huawei, which has been expanding across the globe with its smartphone business, and Alibaba, who listed in the U.S. in 2014, became a well-known name internationally after these events and incidents as consumers all over the world began to take notice of such Chinese companies.
 
However these companies were major players in their domestic market of China, even while flying under the radar of the rest of the world, before these companies becae world beaters.
 
And according to one prominent venture capitalist according to one prominent venture capitalist, still in the second largest economy of the world, there could be "hundreds" of more companies like Alibaba and Huawei ready to take on the world.
 
"When you look at China today, it's not what you saw in China three or five or 10 years ago. These people are able to come with products, with innovation and creating products which are better than the West in some areas," Yossi Vardi, the chairman of International Technology Ventures, told CNBC in a TV interview on Friday.
 
China has a market of 1.4 billion customers and most Chinese companies are still catering to their domestic users, Vardi, who is often dubbed the "godfather" of Israel's technology boom, said. But such domestic companies could soon try to expand beyond China like like Alibaba and Huawei.
 
"We know ... Chinese companies outside like Alibaba and Huawei. Wait a few years and you will see hundreds of Alibaba's and Huawei's after they finished to exploit the local market and they turn into the international market we are going to see something which really will be amazing," Vardi said.
 
And beginning to push out of their homeland in recent years are companies such as Tencent and Baidu and experts are of the opinion that China at present has a number of giant technology like them.
 
According to KPMG report released in January, noting a 19 percent rise year-on-year was Venture capital investment in China as it hit $31 billion in 2016 and this prove that the country's start-up scene is vibrant the country's start-up scene is vibrant, to add to the already existing large domestic companies.
 
Worth a reported $46 billion and $33.8 billion respectively, just behind Uber which is valued at around $68 billion, Chinese electronics maker Xiaomi and ride-hailing app Didi Chuxing are two of the most valuable start-ups in the world now.
 
(Source:www.cnbc.com) 






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