At first blush, it seems like Song Li is one of those stereotypical Chinese Web entrepreneurs. The kind who rips off successful US sites and hopes operating in the world’s largest consumer Internet market will magically create a successful company. After all, he made a good bit of money investing in ChinaHR—a job board site that sold to Monster.com for more than $200 million over two deals – and right now he operates Digu.com, a Twitter-clone, and Zhenai.com an online dating site that could be the Chinese Match.com.
But if you dig a little deeper into that dating site, you start to understand how differently Li thinks, and how that thinking reflects an aspect of Chinese consumer Web sites that Westerners frequently miss. Where Chinese Web entrepreneurs shine is in taking an existing business idea – ripping it off, if you like – but then completely rethinking and reinventing that idea’s business model and process. This not only makes the companies more profitable faster, it’s a big reason why home-grown Chinese versions continually beat US companies trying to expand into China.
Very interesting read.
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