Chuhai: Why Chinese Entrepreneurs are Targeting Emerging Markets Across the World
GGV Capital’s Hans Tung and Zara Zhang discuss the trend known as “Chuhai” (出海), or Chinese founders targeting emerging markets outside of China, such as Southeast Asia, India, Latin America, and more.
As the mobile Internet market in China reaches saturation, an increasing number of Chinese entrepreneurs are now eyeing other developing markets where mobile Internet is just starting to take off; in fact, many of these countries are seeing their Internet sector dominated by Chinese companies. Factor Daily recently reported that 44 out of the 100 top apps in India (Google Play) are made by Chinese companies.
What are the reasons behind the “Chuhai” wave? How can they best recruit local talents and bridge the cultural gaps? How can they avoid the same mistakes that the US Internet companies made when then came to China?