Tag: Advice

Napkin Takeaways: Hendra Kwik of Payfazz

In this series of quick takes, we crystallize the highlights of founder interviews into bite-sized digests for your reading pleasure. If you have a quick minute between meetings, or feel like some light reading, we have your back.

In this piece, we sum up three key takeaways from Hendra Kwik, co-founder and CEO of Payfazz. The startup is a fintech platform that aims to build a network of distributed banking agents to enable a fully-digital mobile banking & payment solution for 440 million unbanked in Southeast Asia. Aside from its agent network, Payfazz has also launched a portfolio of mobile services that facilitate routine financial tasks for Indonesians without formal banking accounts, including bill payments and loans.

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Is Live Streaming the New Frontier of eCommerce?

If you don’t know who Viya is, you should.

She is an internet celebrity in China who sells via live streaming on Taobao. In 2019, she sold $2.8 billion worth of goods. That is more than $5,000 per minute, a number that even China’s No.1 luxury shopping center located in central Beijing can only wish for.

Viya is so good at moving sales that Kim Kardashian shouted “OMG, it’s crazy” while debuting her fragrance on channel. Viya sold out all 15,000 bottles in 1 minute.

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Advice Roundup From 8 Founders

If you’ve been an avid listener of our podcasts, you’d know that towards the end of each episode, we do a round of quick-fire questions with our guests.

It’s our way of providing readers with a quick snapshot of each guest, and questions range from the best non-financial investment made (for Ming Maa of Grab, it was a ping pong table) to the most recent book they read (for Eric Yuan of Zoom, it was Principles by Ray Dalio).

One of the more common questions we ask centers around advice. The best pieces of advice they have received, what they choose to live by, and what they share with others. Here is a round-up of the best advice we’ve heard from eight founders.

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#AskGGV: How did you break into VC?

I did not start doing VC right after college. First, I must mention I was very fortunate to be in the class of 1993 at Stanford. That was the year Netscape browser was released and the world became a very different place thereafter.

I think Peter Thiel was a couple years ahead of me, and Jerry Yang (co-founder and former CEO of Yahoo! Inc.) was a year behind me, but as a graduate student. So that was the right time to be in the internet business, but I didn’t know anything about VC back then.

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Meituan Dianping’s Path Towards Profitability

This article first appeared here.

China’s Super App Meituan Dianping just turned profitable. A year after its IPO, the 9-year-old company finally arrived at the inflection point investors have pined for.

Similar to Amazon’s profitless path to domination, Meituan Dianping had been aggressively focusing on expansion over profitability since its founding. It merged with Dianping in 2015 and acquired the bike-sharing app Mobike in 2018.

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A Glimpse of Future Retail in the Corner Stores

This article first appeared here.

Shopping, as we busy city dwellers know it, has never been easier. Whether it is Amazon’s “1-Click” buy button or Alibaba’s 30-minute delivery, it is no longer something that needs planning.

The shift of our collective shopping behavior has fueled double-digit eCommerce growth worldwide, going against the stagnating department stores and big-box retailers.

Rapid urbanization and the fast adoption of smartphones in emerging markets would make us believe that the next billion internet users already shop in similar ways or are going to. A close look at the data, however, will tell us something different.

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How Pinduoduo Works

This article first appeared here.

Pinduoduo is China’s most valuable private e-commerce company that just filed for a US IPO, less than 3 years after it was founded. With over 300 million active buyers, it has risen to become one of China’s top 3 shopping apps. In this deck, we explain how Pinduoduo works and what led to its rapid growth.

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Crisis Survival Toolkit for Startups

Keeping a business afloat during times of crisis requires a very specific set of skills a good entrepreneur needs. In this master list of crisis-management editorials, we spoke to GGV Capital’s Managing Partners, key business executives and portfolio companies.

This comprehensive collection of letters, thought pieces and interviews features their wisdom, insights and ideology. In time to come, we hope this will be an evergreen, actionable encyclopedia of business management you can look to.

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