Proxy war? Alibaba, Tencent draw lines across Southeast Asian unicorn scene
source link: https://technode.com/2020/10/30/proxy-war-alibaba-tencent-draw-lines-across-southeast-asian-unicorn-scene/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Proxy war? Alibaba, Tencent draw lines across Southeast Asian unicorn scene
Flag of the Association of Southeast Asian Nations (Image credit: Bigstock/butenkow)
For the past ten years, some of China’s biggest companies have divided the country’s tech industry. Now, they’re fighting proxy wars in the emerging markets of Southeast Asia and India, battling it out for a share of the regions’ digital real estate.
“These investments are building the muscles for a world-class clash of titans—with the big guys competing head to head and local players serving as proxies for the foreign giants,” consultancy Bain & Company said in a report describing the scramble for market share in Southeast Asia.
China’s tech giants are known as jealous backers. When Chinese startups take money from a tech major, they’re often committing to a side and its associated ecosystem. That’s why Tencent invested in Pinduoduo—the e-commerce company’s business model is based on users getting their Wechat contacts to buy items with them.
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Tagged: Alibaba, Data, expanding empires, Features, Funding, India, Premium, Southeast Asia, Tencent
Chris Udemans
Christopher Udemans is a Shanghai-based data and graphics reporter. He covers Chinese artificial intelligence, mobility, and cybersecurity. You can contact him at chrisudemans [at] technode [dot] com. More by Chris Udemans
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK