Top Startups To Watch Out For in China 2014
The China’s startup scene has been pouring in with new talents and investors. The upper class in China is growing bigger and bigger by the year and quite a lot of them are looking to invest in potential startups based in China. We all have probably heard of the Tech giants in China such as Alibaba, Taobao, Baidu, QQ etc. , but those companies are out of the startup phrase. Let’s see what China has shown us in 2014.
Jing.FM is a Beijing based startup that is founded by Shi Kaiwen. ShiKaiwen has been a music lover his entire life and devoted most of his high school years to making music websites. His last two websites didn’t succeed or gain popularity, but this time around he was able to raise 1 million dollar in funding for his Jing.FM startup. Jing.fm is a music discovery website that covers a range of music for all ages. Jing.fm has all types of genre and also a music discovery tab. As of last December, Beijing-based Shi has 600,000 online registered users and 500,000 mobile ones. He hopes to reach a total of five million by the end of this year. For now, there’s no chance of earning a profit, Shi says. But he figures that after Jing.fm hits 20 million users, its financials will improve. Most people are rather worried about its competitor Xiaomi, but a lot of reviewers have been saying that Jing.fm is much better overall.
RabbiBox is a subscription service based startup. For 86 RMB ($12 USD) a month, Rabbibox will send you a box filled with education and fun materials for your kids. A lot of parents have a hard time finding the right gift for their kids. Rabbibox will help you select and put together a bunch of materials ranging from paint brush to drawings to educational picture books and many more to ensure that your kids have fun. Rabbibox will then deliver the materials straight to your door in their special box.
Mizhe can be considered an all around affiliate marketing platform giant. Mizhe is an ecommerce startup platform that gives discounts to their members. It has a huge database of products all from other ecommerce giant’s websites such as Amazon China, Taobao, Ebay and much more. What’s special about this site is that Mizhe works closely with the top ecommerce sites and receives direct discount from them. Mizhe was founded in Beijing in August, 2011. It claims to generate over 100 million RMB ($16 million) in sales via its platform. It now has millions of users signed up, and hundreds of thousands of daily active shoppers. IDG Capital Partners invested just over $1.6 million in a Series A funding round for Mizhe.com in 2012. As of 2013, Mizhe received a 10 million dollar seed A funding.
Ele.me is an upcoming startup that is similar to the USA version of Yelp. The main feature of ele.me is the ordering delivery feature that allows you to order delivery food anytime online. The interface is straight forward and easy to use. Ele.me has been expanding all over China in almost every major city. The startup also offers a bunch of credit and points for those users who want to accumulate free rewards. Ele.me has some really cool features compared to Yelp. For example you and your friends can play a dice game on the phone to decide who pays for the delivery. You could also use Ele.me to make reservations directly from your mobile phone. There are many other features. Check out their app and site here:
SeeedStudio is an ecommerce startup that specializes in selling electronic parts. Founder Eric Pan, was an engineering major himself and noticed that he was having a hard time finding individual electronic parts that he wanted. His goal of starting seeedstudio after college was to help entrepreneurs obtain open-source electronics hardware modules and get their products into the marketplace faster. Sales last year totaled 50 million yuan, or $8 million. Pan is married and enjoys cycling. Pan also predicts that sales will continue to go up as more and more engineers are graduating from college.