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CloudMinds Inc., a Chinese start-up focused on the development of cloud-intelligence-based applications, and backed by SoftBank Group Corp., announced that it raised US$100 million in a series A funding round during a press conference held in Beijing yesterday.
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As many as 79% of entrepreneurs in China are female, compared to 54% in the U.S. and 53% in the U.K., according to a survey conducted last year by a joint venture bank established by the Silicon Valley Bank and Shanghai Pudong Development Bank.
The reason behind this significantly higher ratio of female entrepreneurs could be because more women than men graduate from universities in China. There is also no cultural taboo, as perhaps is evident in Japan, for women to continue working after getting married and having children in the world’s second largest economy, the survey’s author explained.
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Chinese live-streaming apps have found a way to make money off their user-generated content, while enforcing the government’s strict content rules.
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Live streaming apps have quickly become the hottest broadcast media to watch in China after Wang Sicong, the son of China’s richest man Wang Jianlin, launched an app late last year.
From their start, these apps have been monetised in China, fans and users can purchase different digital sticker gifts including Ferraris to send to their favourite ‘zhi bo wang hong’ streaming stars. These stars can then exchange these gifts for money, on average apps take a cut of around 10%.
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This article by the LA Times does a great job of giving a clear, concise overview of the live-streaming industry in China. And on top of that it features yours truly 🙂
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Cheng Lihua primped her hair, put on makeup and adjusted her gold-plated microphone. Then she got to work.
“You hurt me so deep that I can’t forgive you,” she crooned into the microphone, nodding her head to the rhythm. “Already knew our love is gone.”
Cheng, a 22-year-old recent college graduate, is a professional “live streamer,” a booming business in China these days. She works four hours a day and earns nearly $3,000 a month chatting and singing songs for an online audience of thousands — all from her bedroom in China’s far-northern Inner Mongolia Autonomous Region, where she lives with her parents.
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With over 200 live streaming apps available in China, it is difficult to choose which ones are the best. There are many factors that can be considered such as number of active users, user demographics, user engagement, types of live video content and more. Here I have chosen 5 of the most popular live streaming platforms that can show a cross-section of the types of live streaming apps found in China.
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