The global market is still a blue ocean for Chinese Internet companies

Domestic Internet companies have found the secret to development in the fierce competition , which is to provide users with low-cost, high-quality software and hardware services. With the efforts of countless product managers and technicians, domestic Internet companies are developing overseas.

Companies such as TikTok , SHEIN , Newborn Town and Anker Innovations have their businesses facing the global market and are typical representatives of "going out" international development .

TikTok is the best example of this, having grown key metrics such as users and revenue despite regulatory headwinds in 2020. As of January 2021, TikTok had 689 million monthly active users outside of China . In just three years, TikTok has the same number of monthly active users that Instagram took six years to accumulate , and has even surpassed Facebook to become the most downloaded app in the world.

With its application portfolio, Newborn City Technology is a leader in the social networking vertical, with revenue growing by 203.2% in 2020 and continuing to soar in the first half of 2021. As of June 30, its revenue was US$160.7 million, a nearly six-fold year-on-year increase, of which value-added service revenue reached US$126.7 million , a more than 50-fold year-on-year increase .

SHEIN is a rising star in the fast fashion industry , with revenue reaching $10 billion in 2020, a huge breakthrough compared to $2.8 billion in 2019. As a global fast fashion e-commerce company, SHEIN is a model for Chinese Internet companies to operate and attract global users.

The international market is still a blue ocean for the development of domestic Internet companies

According to a survey by Qianzhan.com , as of May 31, 2020, the number of Internet users worldwide reached 4.648 billion, accounting for 59.6% of the world's population.

This means that 40% of the world's population ( nearly 3 billion people ) still have no access to the Internet, mainly in Asia, Africa and Latin America . As the Internet penetration rate in these regions increases, domestic Internet companies will also usher in new development opportunities .

On the one hand, traditional Internet giants like Facebook and Google rely on Internet advertising as a source of profit, which often degrades their user experience , while the business models of domestic applications are more diversified .

On the other hand, as the largest emerging market, Chinese companies have obvious advantages in understanding emerging markets and the characteristics of new mobile users .

Some people believe that the growth of Chinese companies in the global market is mainly due to large-scale investment and relatively cheap labor costs , but this statement is a bit one-sided when it comes to global Internet companies .

Chinese companies adhere to the management principle of continuous improvement, integrate cultural elements into their products , and combine the advantages of diversified business models and localized investment , making them powerful competitors to traditional Internet giants.

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