China - Land of E-Commerce Opportunity?
Yuri Milner is one of the world's richest men, and when he says something, you should sit up and listen. The Russian billionaire and Groupon Inc. investor recently said that fledgling e-commerce companies should look towards China as a location conducive for growth.
Photo Source: ACQ Magazine
Anyone who has ventured into China, can tell you that China is the current "Land of Opportunities". That's mostly thanks to the huge population, and explosive growth the country is seeing now. Of course, some of us may have our reservations on the economic climate there, but Russian billionaire and Groupon Inc. investor, Yuri Milner, is here to convince you that if you plan on starting an Internet retail company, China is the place you should look towards.
According to Businessweek, Milner recently told Bloomberg Television that the reason for this is because big chains like Wal-Mart Stores Inc. do not have a presence there as of now.
“We see actually a lot of opportunities in the e-commerce space in China specifically, because the offline infrastructure in that country has not been developed to the extent that it was developed in countries like the U.S.,” Milner said. “The Wal- Mart of China is actually going to be an online company.”
Alibaba Group, headed by Jack Ma, is currently China's biggest e-commerce company. And without much competition, Alibaba is expanding at such a rapid rate that it is considering its options to buy their parent company, Yahoo!.
Source: Business Week
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