China's home-grown tech giants are dominating their US competitors

Business Insider | 2/7/2018 | Jeff Desjardins, Visual Capitalist
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Alibaba, Baidu, Tencent, and Xiaomi are dominating the Chinese market.

In China, the tech giants are giving American companies like Amazon, Google, Facebook, and Apple a run for their money.

Day - Feeds - News - Silicon - Valley

Every day, your feeds are likely dominated by the latest news about Silicon Valley’s biggest tech giants.

Whether it’s Facebook’s newest algorithm changes, Amazon’s announcement to enter the healthcare market, a new acquisition by Alphabet, or the buzz about the latest iPhone – the big four tech giants in the U.S. are covered extensively by the media, and we’re all very familiar with what they do.

Universe - Side - China - Great - Firewall

However, what is less commonly talked about is the alternate universe that exists on the other side of China’s Great Firewall. It’s there that four Chinese tech giants are taking advantage of a lack of foreign competition to post explosive growth numbers – some which compare favorably even to their American peers.

Like the “Bizarro Jerry” episode of Seinfeld, the Chinese-based tech giants look recognizably familiar – but markedly different – to the ones we know so well.

Known - China - Giants - Alibaba - Retailer

Likely the best known of China’s tech giants, Alibaba is the dominant online retailer in the country. The company had revenues of $25.1 billion in 2017 and is seeing that revenue grow at impressive speeds. In its most recent quarterly results (Q3, 2017), the company noted a 56% jump in revenue.

Amazon’s tough sell: Amazon does exist in the Chinese market, but it just has trouble competing with Jack Ma’s creation. Amazon has less than a 1% share of the e-commerce space in China, after a decade of trying to get a foothold. Further, Alibaba also runs AliCloud, which provides direct competition to Amazon’s AWS.

Baidu - Search - Engine - China - Player

Baidu is the largest search engine in China and also a leading player in AI. It’s the most visited website...
(Excerpt) Read more at: Business Insider
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