zucklivingston Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)
Today at Y Combinator’s Startup School, Facebook CEO Mark Zuckerberg sat down for a lengthy interview with Jessica Livingston. The topics discussed ranged from Facebook’s beginnings (including a brief discussion of The Social Network) to the social network’s strategy in China, which has proved to be problematic for other Western tech companies like Google.

Zuckerberg says that for years Facebook didn’t have a strategic plan for international growth — each month, the site would take off in a seemingly random country with no apparent pattern (obviously this approach paid off). But there are still a handful of countries that Facebook isn’t winning in, or isn’t on a path to win: China, Japan, South Korea, and Russia.

“China is extremely complex,” Zuckerberg says, and the site is taking its time to make sure it approaches the world’s most populous country with the  right strategy. The hope is that if Facebook can show that, as a Western company, it can succeed in a place where no other Western company has before (like Russia), that will help it get the momentum to figure out the right partnerships it needs to succeed in China.

With respect to openness in China (or lack thereof), Zuckerberg says that different countries around the world have different values, which Facebook has historically respected. For example, in Germany it’s illegal to post content about Nazism, so Facebook blocks it in Germany (but not in other countries). It has a similar policy with regard to drawings of Muhammad in Pakistan, where it’s illegal to post that content.

Zuckerberg says that he’s spent a lot of time personally examining Chinese culture (including daily Chinese language lessons) to help with this. Above all, it’s clear that Facebook would like to establish a strong presence in China down the road, explaining, “How can you connect the whole world if you leave out 1.6 billion people?”

Oh, and about Zuckerberg’s wardrobe? He says that while The Social Network got a whole lot wrong, he actually owns every shirt and fleece that appears in the movie.

Image by Robert Scoble

Information provided by CrunchBase

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 Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)
 Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)

 Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)  Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)  Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)  Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)  Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)  Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)

 Mark Zuckerberg On Facebook’s Strategy For China  (And His Wardrobe)

 The Good and the Bad of the IPO MarketThe third quarter IPO market is like looking at a Rorshach test: You can find data to support that liquidity is getting better or data to support that it’s getting worse.

Here’s the reality check: There is an increase in deals– a big increase if you look at the first nine months of the year and compare it to the first nine months of 2009. And the pipeline is building: 67 new companies entered IPO registration since July, and if they go out, they could be the biggest issues so far this year.

Let’s hope that’s the case because the downside to the news is that deal value is falling substantially year-over-year. In the third quarter of 2010, there were 32 IPOs, compared to just 20 in the third quarter of 2009. But only one was valued at more than $500 million. (All numbers are courtesy of PricewaterhouseCoopers’s third quarter IPO watch.)

That means the deals going out are small and when you’re talking about venture capital returns, the smaller the deal the more thinly it’s traded. In essence, a lot of these “exits” aren’t really exits at all because VCs aren’t getting much liquidity. If they sell their shares, they tank the stock. In practice, some of them may give investors less liquidity than some late-stage secondary rounds out there.

There’s another ripple effect to anemic deal values– it hurts the price of acquisitions because there’s no threat to anyone going public. Think of it like listing a house on a market and getting one bidder. That bidder has all the power.

The quarters when deal values have been higher, the top line numbers were heavily skewed by a few large deals– and most of those are coming from other countries, especially China. Year-to-date, 30 non-US companies have raised $4.1 billion, about 30% of both proceeds and total offerings. And 19 Chinese companies have made up about 20% of the deal volume. Yep, they’ve taken over Japan in GDP, taken over US manufacturing, it’s the world’s largest Web audience and now Chinese companies are making up one-third of own IPO volume.

Get used to it, America. Beyond China, more nascent emerging markets are taking advantage of the overall smaller deal sizes to IPO on more prestigious and stable US exchanges. India’s online travel site MakeMyTrip went public in August and had a 90% first day pop. It has held up well since, opening the door for more mid-sized ecommerce companies from countries under represented on the Nasdaq and New York Stock Exchange. Argentina’s outsourcing firm Globant is still eying an exit in the next year, and there are no doubt some issues coming from Brazil. It’s all about growth when you’re talking about IPOs this small and until a Facebook or LinkedIn IPO steals the attention, emerging markets are the best growth story out there.

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 The Good and the Bad of the IPO Market
 The Good and the Bad of the IPO Market

 The Good and the Bad of the IPO Market  The Good and the Bad of the IPO Market  The Good and the Bad of the IPO Market  The Good and the Bad of the IPO Market  The Good and the Bad of the IPO Market  The Good and the Bad of the IPO Market

 The Good and the Bad of the IPO Market

computex 2010 banner Computex 2010: the best of the rest from Engadget Chinese

We've been running up and down the show floors here at Computex over the past week, and frankly, we're a bit overwhelmed. And exhausted. But mostly just stoked about chowing down on "fish legs" and "frog balls" at Taipei's own Windows 7-theme eatery. We've been covering the major hits right here on our front page, but our tremendous comrades over at Engadget Chinese have been blazing trails of their own. We all know you're looking for an excuse to brush up on your Chinese anyway, so why not dig in below to catch the best of the rest from a world-class group of folks? Enjoy... er, 享受.

More Computex coverage from Engadget Chinese -- it's just a click away.

Computex 2010: the best of the rest from Engadget Chinese originally appeared on Engadget on Sun, 06 Jun 2010 04:02:00 EDT. Please see our terms for use of feeds.

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sku394311 Keepin it real fake: N8 available now, only not from Nokia
Well, it was bound to happen: a flagship device released as a KIRF (for the second time) well ahead of its official launch. Unfortunately, that's what happens when you delay a product that already leaked months in advance. The $99.20 "N8-00" might share its name and stylings with Nokia's imminent Symbian flagship but that's where the similarities end. This Chinese N8 packs a 3.3-inch touchscreen (resistive, no doubt), a quad-band GSM radio, pair of VGA cameras (ha!), 2GB of MicroSD blah blah blah... hey, let's be honest, the specs don't really matter do they? This "Nseries" device, like all KIRFs, will be sold to poseurs who want to look the part before quickly discarding it for the next trend. Picture of the backside after the break.

[Thanks, Arnout and everyone who sent this in]

Continue reading Keepin' it real fake: N8 available now, only not from Nokia

Keepin' it real fake: N8 available now, only not from Nokia originally appeared on Engadget on Sun, 30 May 2010 06:55:00 EDT. Please see our terms for use of feeds.

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