Jul 21

The biggest digital marketing stories in China: July 2019

Welcome back to our monthly round-up of the biggest and most interesting digital marketing stories in China.

This month, we take a look at some of the biggest trends in the ecommerce industry – from social commerce to the increasing popularity of Chinese homegrown brands and the SCMP’s 2019 China Internet Report. We also take a look at the entrance of a new competitor in the ecommerce industry, formalization of influencer marketing and the government’s new regulation in the ecommerce sector.

Alibaba and JD.com retain their positions as China’s top ecommerce platforms – but is a new competitor on the rise?

The ecommerce ecosystem in China is clearly dominated by two powerful players, Alibaba and JD.com. While most reports about ecommerce in China talk about the dominance of the duopoly, a third player is making headlines for its steady rise.

Pinduoduo is an ecommerce platform that allows users to participate in group buying deals. Branding itself as a platform for price-conscious consumers, Pinduoduo has managed to capture the hearts of users in smaller rural cities in China.

Recently, it was reported that the startup dethroned JD.com to become the second-largest ecommerce player in China. According to news reports, Pinduoduo’s daily active users has outnumbered JD.com’s for the past 12 months – an impressive feat for a company which was founded merely five years ago. In terms of sales, however, Alibaba and JD.com still hold the majority of the share at 55.9% and 16.7% respectively, while Pinduoduo trails behind at 7.3%.

Nevertheless, the ecommerce startup shows no plans of slowing down as it continues expand its partnerships with other companies. Pinduoduo recently established partnerships with over 100 companies from a wide variety of verticals with the aim to bringing more quality products to its consumers. One of its biggest partnerships is with ShenZhen MTC Co., Ltd., a contract manufacturer that produces more than 10 million TV sets, for brands like Philips, Haier and Xiaomi.

Although Pinduoduo’s steady efforts to become one of China’s most significant ecommerce players shows promise, marketers should continue to keep a close eye on Pinduoduo’s development. Pinduoduo still has to overcome many roadblocks such as smear campaigns and regulations for it to rise to the ranks of Alibaba and JD.com.

China Internet Report 2019

Shedding its reputation as a “copycat”, China is now home to some of the most advanced and innovative companies around the world. The South China Morning Post (SCMP) recently published its annual China Internet Report, and here are some of the report’s most interesting insights:

1. More companies are embedding mini programs into their services: Mini programs have proven to be very popular amongst consumers as the number of mini programs on WeChat with more than 5 million active users increased from 165 in August 2018 to 237 in February 2019. Other tech giants such as Baidu, Alipay and Toutiao have also followed suit and launched their own mini-programs.

A timeline of mini program launches from China’s biggest companies (screenshot from China Internet Report)

2. Companies are focusing on lower-tier cities to drive ecommerce growth: There is a tremendous amount of untapped potential for ecommerce in the less developed cities of China. Compared to 74 million internet users in first and second-tier cities, there are 128 million internet users in third- and fourth-tier cities. The power of the lower-tier cities was most evident in Pinduoduo’s rise, as 66% of its users come from these cities. Recognizing the potential and upward aspirations of these consumers, JD.com recently launched JD Group Buy to attract lower-tier city users.

3. Consumers in China are embracing the sharing economy: China’s sharing economy is seeing rapid growth as consumers are increasingly open to using sharing platforms. It is noted in the report that 60% of respondents in China have previously used a sharing economy product and/or service. Amongst them, 68% believe that the benefits of sharing platforms outweigh its risks. As such, services such as car-sharing, home-sharing, fashion-sharing and kitchen-sharing are rising in prominence in China.

Key findings from the report points towards a more inclusive, customer-centric ecommerce industry. Products and services are no longer the only factors that influence purchasing decisions – ecommerce platforms seem to be fighting on a new frontier of customer personalization and experience.

China’s biggest apps are weaving in social commerce into their platforms

The borders that once separated social media and ecommerce are increasingly becoming blurred, with apps and platforms dedicated to social commerce becoming a force to reckon with.

Back in April, WeChat introduced a new feature called “Good Product Circle”. Good Product Circle extends the functionality of WeChat’s “Shopping List” feature by allowing users to socialize on the interface, recommend products to their friends and access what their friends have bought. Users can also share products from different Mini Program stores.

Short video and livestreaming app, Kuaishou, waded further into the social commerce pool last month with its integration of JD.com and Pinduoduo. It previously integrated with Alibaba’s Taobao and Tmall. The app has a channel called Kuaishou Small Store where users can showcase products from these sites. However, when a user clicks on the product, they will be redirected to the site where the product is listed rather than being able to buy it immediately.

Chinese ecommerce has always struggled with credibility, quality and reliability issues. These uncertainties appear to be fueling the growth in livestreaming and social media apps introducing ecommerce features, drawing Chinese consumers away from relying on influencers. Instead, the next trend appears to be enabling a user’s friends to provide the element of trust behind a product.

China strengthens rules against dishonest sellers

China’s ecommerce industry has long been plagued by a plethora of problems associated with fraud. From user review manipulation to faking orders to selling counterfeit goods, many consumers have become particularly cautious towards online shopping – even from established platforms such as Alibaba.

Problems related to counterfeit items and fraud have become so pervasive that the Chinese government passed the Electronic Commerce Law in 2018 in an effort to reduce fraudulent activities in China’s online marketplace.

This year, China doubled down on its ecommerce laws as its State Administration of Market Regulators issued a new draft regulation (link in Mandarin) which puts any seller or ecommerce platform that engages in unfair business practices to the country’s official credit blacklist. The following are some important details of the draft rule:

  • Ecommerce platforms will be blacklisted for failing to regulate merchant activity on their platforms, failing to protect the rights of consumers and/or hindering market monitoring by authorities.
  • Blacklisted platforms will also be required to show a notice of their credit status on their site.
  • Sellers who are blacklisted will be ineligible for tax cuts, are subject to closer monitoring from the government watchdog, and will be given stricter punishment for the same misconduct.

The newly enacted ecommerce laws and regulations in China will undoubtedly have an impact on the dynamics of the ecommerce landscape. While regulating China’s freewheeling online marketplace ensures a safer space for most players in the industry, users in smaller ecommerce platforms such as Pinduoduo and the Little Red Book may fail to identify fraudulent activities on these ecommerce platforms.

In addition, large ecommerce players such as Alibaba and JD.com would need to divert a large amount of resources to monitor the activities of its merchants. The heavy-handed approach of the government to regulate the ecommerce industry may be best paired with approaches that educate both sellers and consumers.

Homegrown brands gain more popularity at JD.com’s 618 sale

JD.com’s 618 sale is one of the most anticipated shopping festivals in China. As mentioned previously in June’s monthly round-up, JD.com sold millions of products within the first minutes of the sale. While these numbers may impress the lay person, it is fairly normal for big players such as JD.com and Alibaba, who attain such numbers on a regular basis.

While beauty, luxury and 3C (computer, communication and consumer electronics) products continue to have strong online sales, there has been a spike in the demand for other items. For example, as noted by news outlet RADII China, the number of consumers who purchased luxury goods increased by 50% while the sales of moisturizers, body serum and eye cream also increased by 100%.

What was particularly eye-catching in this year’s 618 sale was the popularity of domestic consumer brands. Consumer products, both perishable and non-perishable, have seen massive growth in sales, as noted by SCMP.

Some impressive statistics from the sale include:

  • Chinese home appliance brands Supor, Midea Group and Joyoung saw their combined sales increase fourfold as compared to 2018.
  • State-owned dairy products company Yili Group and Honor, a unit under Huawei.
  • Technologies, were among the homegrown brands that sold more than US$14.5 million during the sale period.
  • Sales of domestic smartphone brands rose 71% year-on-year.

The growth in domestic brand sales subtly hints at the maturation of the ecommerce industry in China. Two reasons why consumers are purchasing domestic brands may include increasing quality of domestic products and increasing accessibility of ecommerce platforms. For foreign brands, this may imply a need to rethink marketing strategies – the sheen of being a foreign brand or product may be wearing thin among Chinese consumers.

KOLs in China are extremely effective in driving sales – but what does this mean for marketers?

Influencers, or Key Opinion Leaders (KOLs) in China, command a tremendous amount of power in China’s digital landscape. Respected by millions of followers online, KOLs have become the most influential factor that affects consumer purchases. One can get a sense of how influential KOLs are by simply looking at China’s top influencer, Dayi Zhang, who sold more than US$145 mn worth of products through her online store in 2018.

While most influencers find fame organically by posting their own content online, KOLs in China are increasingly carefully curated in what is called an “influencer incubator”. A notable player in this niche is Ruhnn Holding, one of China’s largest KOL influencer incubators. A contract with Ruhnn gives the company exclusive rights to KOLs’ endorsements, social media accounts and ecommerce stores. In return, KOLs receive training on effective personal branding and resources to support the influencer’s personal brand.

The trend towards professionalizing KOLs point towards a new norm for influencer marketing in China. The loss of control over their brand and image may result in a weakened perception of their personal elan and flair – which typically are the key ingredients of them emerging as KOLs in the very first place.

Instead of working directly with KOLs, marketers can expect to liaise and collaborate with more individuals through professional influencer management companies. Marketers should be aware of such developments in the influencer marketing industry – especially since apps such as TikTok appear to be producing a new wave of influencers around the world.

For more information about Econsultancy’s research, training and best practice solutions contact us on apac@econsultancy.com

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Jul 20

Internet Marketing Company, fishbat, Discusses 3 Ways Architecture Companies Can Remarket to Customers

NEW YORK, July 19, 2019 /PRNewswire/ — The average customer may leave a website before completing a purchase, but this doesn’t necessarily equate to a lost sale. To help businesses capture leads, and transform those leads into sales, internet marketing company, fishbat, discusses 3 ways architecture companies can remarket to consumers.

(PRNewsfoto/fishbat)(PRNewsfoto/fishbat)

For any business, the act of attracting a user to a website is half of the proverbial battle. While it’s important to generate website traffic, it’s equally important, if not more so, for visitors to perform on-site actions. Whether it’s clicking on a certain internal page, signing up for a newsletter, or completing an online transaction, a solid remarketing strategy is effective. Here are a few ways that architecture companies can successfully remarket to their audiences.

Diverse Ad Sizes – For an architecture company to promote itself, ad space is essential. Furthermore, ads should be crafted with different sizes in mind. This will ensure that they’re optimized for numerous platforms. From Facebook to the average website, ads can be seen virtually anywhere, but they must be properly sized. When ads are properly sized, previous website visitors will be remarked to, whether they intend to make an immediate or future purpose.

Shopping Cart Engagement – Roughly seventy-five percent of all online shoppers abandon their shopping carts, failing to complete transactions. Shopping cart abandonment isn’t uncommon among architectural companies, but it’s important to realize that it’s possible to remarket to those shoppers. One way to remarket to them is email marketing. Email marketing can be used to reach out to users that placed items in their online shopping carts but failed to move forward. If users are reminded of the items they’ve saved, they’re more likely to complete their transactions.

Promotional Discounts – To incentivize customers to spend money, provide them with the opportunity to save money. Promotional discounts are designed for guaranteeing that customers engage in business with certain companies, instead of their competition. BOGOs and free shipping are among the most popular examples of discounts that architectural companies can offer. These discounts encourage shoppers to spend money, which will lead to increased profits for the companies that offer those discounts

With these tactics, architectural companies and a New York SEO Agency will be able to successfully remarket to those that expressed interest in the company’s products and services. Not only that, but with the right information these businesses can determine who visited their websites in the past. This information can then be applied to remarketing efforts, keeping companies fresh in the minds of potential buyers. Not only does this strategy lead to further engagement from these users, but more importantly, sales that aid company growth.

ABOUT FISHBAT

fishbat Online Marketing Firm is a full-service digital marketing firm that takes a holistic business approach to their clients’ digital marketing programs. The fishbat team understands the importance of business principles just as well as the nuances of the latest digital technologies. fishbat offers every digital marketing service available from digital marketing research and planning to brand development to website and asset creation through social media management and search engine optimization programs – all custom calibrated for both B2B and B2C businesses.

Media Contact: Scott Darrohn, fishbat Media, 855-347-4228, press@fishbat.com

Cision

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Jul 19

The Problem with France’s Plan to Tax Digital Companies

Yagi Studio/Getty Images

France recently approved a 3% tax on revenues generated by large digital companies in its territory, a move that is now being investigated as a potentially unfair trade practice by the U.S. government.

The French legislation, which would invariably affect U.S. tech giants such as Alphabet, eBay, and Facebook, is the kind of tax that the European Union has wanted to impose for years. Emboldened by the EU stance, Asian and Latin American countries have begun discussions on how to tax tech giants on revenues earned in their territories. If implemented, these proposals have the potential to shift billions of dollars from tech companies to local economies. But we argue that one-size-fits-all taxation of large digital firms based on their gross revenues is too blunt an instrument to address the putative budgetary deficits of local governments. We call for a more substantial debate on the issue and more imaginative ideas to ensure fair and effective taxation.

The nature of business is rapidly changing. Digital services continue to supplant numerous physical products, and e-tailers and internet websites continue to replace many shops and physical establishments. These transformations reduce a city’s or federal government’s tax collection in at least three ways. First, barring a few mega establishments created by the likes of Amazon and Tesla, countless factories, offices, shops, and establishments are closing, eroding cities’ land-based revenues from property taxes and development charges. Second, reduction could occur in taxes levied on production or value addition to physical goods, diminishing the state or federal government’s coffers. Third, taxes collected on the salaries and wages of workers disappear when workers are rendered unemployed by the rise of the digital economy.

Consider a local newspaper that employs hundreds of local workers in its office, printing, and distribution facilities. It becomes obsolete with the emergence of a large website that has no physical presence in that country, relies on freelancers, and locates its head office in a tax-friendly country like Ireland or Luxembourg. The local advertisers shift en masse to the new internet company. So, the city and federal governments lose large portions of their tax revenues. They must now cut expenditures, fund new welfare programs, and find alternative sources of revenue.

This “remote” participation in the domestic economy — the provision of digital advertising, marketing, or buyer-seller matching services with servers and offices in a foreign country — is often seen as the key issue in the debate over whether and how to tax digital companies. Each country, in principle, has a right to tax the totality of benefits and services received by foreign corporations that interact with its residents. It is entitled to a fair share of revenues from advertisements shown to its residents (by Google, for example), from sales of its residents’ personal data to third parties (such as Facebook), and from the facilitation of transactions among residents (on Ebay or other sites). Foreign corporations must contribute to the country’s public expenditures, such as education, law enforcement, infrastructure, utilities, firefighting, and defense, because in the absence of those facilities and the markets generated by them, the foreign corporations would be unable to earn local revenues.

With the digitization of products and services, and the usurpation of those businesses by foreign technology firms, it becomes increasingly difficult to pinpoint and “ring-fence” the location of economic activities. As we argued in a previous HBR article, a single digital player such as Facebook, which enjoys first-mover advantages and network effects, can service large portions of global market. So, the digital company serving a local market is more likely to be a Facebook, an Airbnb, or an Uber than to be a homegrown corporation. However, local government cannot easily enforce its tax collection privileges on that foreign digital company. Neither its local revenues nor expenses incurred to earn those revenues can be reliably estimated, making local taxable income difficult to verify. This fact, combined with the allegations that tech giants evade taxes, as evident from their low tax rates as compared with local corporations, forces local governments to conceive alternative ways of taxing foreign corporations.

The proposed 3% tax mimics the manner of collecting taxes on foreigners’ dividend, interest, and royalty income from a local economy, while addressing two problems. First, taxes are collected on gross remittances, thereby eliminating the need to calculate net profits. Second, those taxes are withheld at sources, leaving the burden of collection and payment of taxes to foreigners.

However, there are many arguments against the idea of revenue-based taxes on large foreign digital corporations. First, in the absence of a clear definition of a “large” and “digital” company, EU proposals are tantamount to selective targeting of American companies. Second, some academics and think tanks question whether the tax collections of EU governments have declined over time and whether there exists a need for alternative sources of corporate taxes. Third, critics argue that there is no consistent evidence that internet firms pay taxes at lower rates than other firms. Fourth, the selective imposition of taxes could violate bilateral taxation treaties, and could threaten an all-out trade war, reducing international trade and commerce. Finally, should all digital corporations pay the same 3% tax, irrespective of their business model or profits?

We believe there is a need for more thoughtful and creative solutions than a one-size-fits-all regulation, especially because the shift from the physical world to the digital one is permanent and affects economic systems in myriad ways. For example, governments might consider increasing the emphasis on value-added taxes (VAT) that are levied at each stage of the value chain. The greater the value added until it reaches the end customer, the higher the total VAT. Digital e-commerce companies must be adding value to the marketing process by helping a seller find a local customer or by enhancing the perceived value of final products. Improved marketing must increase manufacturer’s revenues, input costs held constant, increasing VAT. If the government collects sales tax instead of VAT, then the final consumer, not the suppliers or the manufacturers, would pay higher taxes on the enhanced value. Furthermore, the improvement in marketing efficiency, brought about by digital e-commerce companies, should improve the profits of local corporations, increasing the taxes they pay. So arguably, taxes not paid by the foreign digital corporations are not totally lost in the system.

What is required is a new way of dividing total tax revenues among city, state, and federal governments. We admit that the tax revenue lost because of reduced land use and unemployment created by digitization would not be recovered by the above suggestions. However, imposing the burden of those deficits on digital companies would not only be unfair but also reduce innovation. It would be like taxing a foreign email provider to fund the welfare programs for unemployed postal workers.

In sum, the progress from physical to digital domains is monotonic, irreversible, and accelerating. The businesses are increasingly getting concentrated in the hands of a few tech giants that can easily shift income and taxes around the world. So local governments need to become more creative while ensuring fair and effective taxation and compliance with bilateral tax treaties.

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Jul 18

Does your business need a website? A guide for startups

The average business owner spends around 8 percent of their gross annual revenue on marketing and advertising. The main thing you should be concerned with when it comes to your marketing efforts is ensuring your money is being well invested. If you are not trying to create an online presence for your brand, now is the time to make a change.

Having a functional and appealing website is vital for any growing small business. While a new website will be costly, it is definitely a great investment.

The following are some of the reasons you need a website for your small business.

You Need a Website Because It Provides Social Proof

Modern consumers use the Internet to research a business before using the products or services they offer. Usually, a consumer will look online to find reviews a business has received from past customers. If you have lots of positive reviews, putting them on your website is a great way to provide social proof to potential customers.

With these reviews on the homepage of your website, proving the legitimacy of your business to potential customers will be easy. The main goal you should have with a business website is filling it with useful information. Telling consumers your story and showing them how you deliver on promises is vital to the long-term success of a business.

Creating a Competitive Edge

One of the main things you need to prepare for as the owner of a new business is lots of competition. These are millions of small businesses in the United States, which is why creating a competitive edge is so important.

The best tool you can use when trying to spread the word about your products or services is the Internet. Having a great looking website that is optimized for search engine success is imperative.

Instead of trying to optimize a website on your own, you need to hire a digital marketing agency. These professionals will have no problem getting your website at the top of search engine results pages.

A Higher Degree of Customer Service

Are you looking for a way to offer consumers a higher degree of customer service? If so, using chatbots on your existing business website is a great idea.

This technology allows you to use the power of artificial intelligence to answer the questions consumers have. With these chatbots, you never have to worry about a consumer having unanswered questions about your brand again. Working with a web development professional is essential when trying to get this technology in place.

A Great Investment

Now that you know why you need a website, it is time to take action. With the help of a web development professional, getting your site up and going quickly will be a breeze.

Are you looking for more business advice? If so, be sure to check out the other articles on our website.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/does-your-business-need-a-website-a-guide-for-startups/

Jul 17

How To Get Your Business Or Startup Famous Locally Through Internet

Until a few years ago, as per SBA (Small Business Administration) estimate, about 627,000 new businesses start every year, and around 595,000 businesses shut down as well. But in actuality, the number of new start-ups has varied drastically over the past decade.

About 69 percent of entrepreneurs residing in the U.S. start their businesses from home. And as stated by the Startup Genome Project, nearly 70% of startups expand prematurely due to which 90% of them fail. Right marketing is one of the biggest challenges almost all startups have to grapple predominantly during the initial phase while they strive to reach the breakeven point and earn revenue on top of that. Almost 14 percent of startups fail only because of poor marketing, which is disappointing, and emphasizes the fact marketing is not given the right amount of consideration by most novices in the field of entrepreneurship. I have gathered a must-do list for all small businesses so they can make an impact locally. Here is what as an entrepreneur you must abide by once you launch your business endeavor:

Spread your business name everywhere online.

“If your business is not on the internet, then your business will be out of business.” – says Bill Gates.

When you start a business, whether you are selling services or products, you must know your target audience, and you must be aware of how you will execute the marketing strategy. Without marketing, your brand will not be noticed and will soon be dominated by other brands currently in the market. I am sure the idea of your business must be amazing which is why you are investing your valuable time and energy in the endeavor. Nevertheless, there are countless extraordinary ideas struggling in the competitive market trying to attract consumer attention and most just fail irrespective of the fact how amazing the original idea was. So you must use all appropriate social media platforms to create brand awareness, make a website, and stay active on every platform that benefits your business and helps you build a brand name and/or generate leads.

Get your company a face.

If you have to promote your business in the local market, it is relatively convenient because you can reach out to public at a personal level and become the face of your company. People tend to find it easy to trust a company if they know who is behind the curtain. Now even though it is commonly thought the owner of a company is the real face of that company, fact is the role could be played by anyone who has the knack to act as an effective Point of Contact and is natural at people skills – it could be your brand manager, PR person, or anyone good at public relations. Having a face to the company, draws the human element in; when consumers find someone they can relate with and access, if needed, it helps expand the customer base. Thus by making a ‘real face’ accessible to target business leads or customers utilizing online platforms you can in fact market your brand and promote your product/service more effectually than trying to achieve the same without the appeal of the human factor.

Offer free trials.

This marketing tactic works wonders for local marketing. If you have a product-based business, distributing free samples to people will spread a good word of mouth, free recommendations, and referrals. Giveaways are very common these days, nevertheless, the quality of your product determines the success of your business. You can request famous influencers, and bloggers online to endorse your product/service with or without a review (only the ones which are relevant to your product or service and help you reach your target audience).  Factually speaking, no matter how much you market your business, to earn referrals, recommendations, or good word of mouth, the product or the service delivered has to be of high quality. This is the key ingredient for survival regardless of how strong your marketing strategy may be and how much you may invest in the business.

Focus on SEO

In order to create your company’s online presence, social media accounts are not sufficient, having an official website is mandatory. Social media marketing helps build a brand while an official website gets your business credibility and the “official” status in the consumer market as well as the digital world. For the first-time buyer, any other business that would like to collaborate with you in one capacity or the other, and of course potential competitors in the market, your business’ website will create a long-lasting impact. An official website comes with a significant number of benefits, some tangible and others intangible yet rewarding in the long run.

Reviews from Existing Customers

Request your happy customers to write or record a review where they recommend your company in terms of its service/product. You can request a review online, on your website or social media sites, and you can also display it physically in a place where it can also have positive impact on potential customers. A satisfied customer can get you more than just a sale, so make sure you deliver quality which is worth endorsements and referrals. Remember it is easy to re-market to an old customer than to convince and earn a new one.

Offer value to people.

I am sure your service and product would be incredible, however, the majority of the successful businesses are based on offering a solution – something that adds value to people’s lives. Either your business idea offers a solution to a problem or it does not, you can always add value by giving out free information, or by generating helpful content online.

Bottom-line:

Internet is crucial for business survival in the current era which is why before you start your business you must ensure you have a fast and stable internet connection. An internet connection that won’t ditch you when you need it the most. My recommendation as always and everywhere would be Spectrum Internet service. Go online and research with passion, study diligently how similar businesses are conducting their affairs, as to which model they are following, and how they are executing their marketing strategies. Learn from your competitors and avoid their mistakes. As far as marketing is concerned, online marketing will help your business expand its consumer base and elevate its credibility level massively.


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Jul 16

Why this business at Northeast Philly Airport has to pay $500-600 a month for slow internet

Internet dead zones also plague urbanized areas where telecom companies neglected to extend high-speed fiber lines because they don’t think they can earn profits there, even as businesses are increasingly, even totally, dependent on it for banking, scheduling employees, checking the weather, marketing, and exchanging documents and data.

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Jul 15

Internet Marketing Company Becomes the First to Withdraw High-Tech Board Application

Beijing-based internet marketing company Papaya Mobile Technology has become the first company to withdraw an IPO application for China’s new high-tech board.

Papaya Mobile voluntarily applied to end its application last week, without giving a specific reason, according to a Monday notice from the Shanghai Stock Exchange. Prior to that, the bourse had conducted two rounds of reviews of Papaya Mobile and asked the company and sponsors for further explanatory materials in addition to its prospectus to a review committee.

The Shanghai Stock Exchange said it had concerns about Papaya Mobile’s core technology and business model, as well as whether the operational and financial details reported by the company were accurate. For instance, Papaya Mobile claimed in 2018 that the service and product fees it paid Facebook accounted for 21% of the global giant’s total revenues in Asia, which did not match publicly available Facebook data, the bourse said.

The first companies to list on the board, also called the SSE STAR MARKET, are set to debut on July 22.

The withdrawn STAR Market application is not Papaya Mobile’s first attempt to list on a stock market. In May 2016, Papaya Mobile went public on China’s over-the-counter stock market. In December, the same year, the company decided to delist for “operation and development strategy adjustments.”  

Related: Supreme Court Calls for Stronger Punishments for Illegal Activities on Tech Board 

Contact reporter Zhao Runhua (runhuazhao@caixin.com)

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/internet-marketing-company-becomes-the-first-to-withdraw-high-tech-board-application/

Jul 14

The Internet Has Spoken: When Is A Product "Top Rated"? – Media, Telecoms, IT, Entertainment – United States

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To Use Mondaq.com you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.

You may use the Website as an unregistered user, however, you are required to register as a user if you wish to read the full text of the Content or to receive the Services.

You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these Terms or with the prior written consent of Mondaq. You may not use electronic or other means to extract details or information from the Content. Nor shall you extract information about users or Contributors in order to offer them any services or products.

In your use of the Website and/or Services you shall: comply with all applicable laws, regulations, directives and legislations which apply to your Use of the Website and/or Services in whatever country you are physically located including without limitation any and all consumer law, export control laws and regulations; provide to us true, correct and accurate information and promptly inform us in the event that any information that you have provided to us changes or becomes inaccurate; notify Mondaq immediately of any circumstances where you have reason to believe that any Intellectual Property Rights or any other rights of any third party may have been infringed; co-operate with reasonable security or other checks or requests for information made by Mondaq from time to time; and at all times be fully liable for the breach of any of these Terms by a third party using your login details to access the Website and/or Services

however, you shall not: do anything likely to impair, interfere with or damage or cause harm or distress to any persons, or the network; do anything that will infringe any Intellectual Property Rights or other rights of Mondaq or any third party; or use the Website, Services and/or Content otherwise than in accordance with these Terms; use any trade marks or service marks of Mondaq or the Contributors, or do anything which may be seen to take unfair advantage of the reputation and goodwill of Mondaq or the Contributors, or the Website, Services and/or Content.

Mondaq reserves the right, in its sole discretion, to take any action that it deems necessary and appropriate in the event it considers that there is a breach or threatened breach of the Terms.

Mondaqs Rights and Obligations

Unless otherwise expressly set out to the contrary, nothing in these Terms shall serve to transfer from Mondaq to you, any Intellectual Property Rights owned by and/or licensed to Mondaq and all rights, title and interest in and to such Intellectual Property Rights will remain exclusively with Mondaq and/or its licensors.

Mondaq shall use its reasonable endeavours to make the Website and Services available to you at all times, but we cannot guarantee an uninterrupted and fault free service.

Mondaq reserves the right to make changes to the services and/or the Website or part thereof, from time to time, and we may add, remove, modify and/or vary any elements of features and functionalities of the Website or the services.

Mondaq also reserves the right from time to time to monitor your Use of the Website and/or services.

Disclaimer

The Content is general information only. It is not intended to constitute legal advice or seek to be the complete and comprehensive statement of the law, nor is it intended to address your specific requirements or provide advice on which reliance should be placed. Mondaq and/or its Contributors and other suppliers make no representations about the suitability of the information contained in the Content for any purpose. All Content provided “as is” without warranty of any kind. Mondaq and/or its Contributors and other suppliers hereby exclude and disclaim all representations, warranties or guarantees with regard to the Content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. In no event shall Mondaq and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use of the Content or performance of Mondaqs Services.

General

Mondaq may alter or amend these Terms by amending them on the Website. By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

These Terms shall be governed by and construed in accordance with the laws of England and Wales and you irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute which may arise out of or in connection with these Terms. If you live outside the United Kingdom, English law shall apply only to the extent that English law shall not deprive you of any legal protection accorded in accordance with the law of the place where you are habitually resident (“Local Law”). In the event English law deprives you of any legal protection which is accorded to you under Local Law, then these terms shall be governed by Local Law and any dispute or claim arising out of or in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts where you are habitually resident.

You may print and keep a copy of these Terms, which form the entire agreement between you and Mondaq and supersede any other communications or advertising in respect of the Service and/or the Website.

No delay in exercising or non-exercise by you and/or Mondaq of any of its rights under or in connection with these Terms shall operate as a waiver or release of each of your or Mondaqs right. Rather, any such waiver or release must be specifically granted in writing signed by the party granting it.

If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect.

Mondaq shall not incur any liability to you on account of any loss or damage resulting from any delay or failure to perform all or any part of these Terms if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control of Mondaq. Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions.

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