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Evolving for the Next Billion by GGV Capital
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Evolving for the Next Billion by GGV Capital

Author: GGV Capital

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Evolving for the Next Billion (new Season 2) is an English-language podcast about tech and entrepreneurship in the fastest-growing markets in the world, hosted by GGV Capital. In Season 1, called 996, we focused on the movers and shakers of China's tech industry, as well as tech leaders with US-China cross-border perspectives. In the new Season 2, Evolving the Next Billion, we interview local champions and global giants who are reshaping the lives of the next billion internet users. From Beijing to Bangalore, San Paulo to Singapore, you will hear stories about ambition, ingenuity, and resilience. The show is co-hosted by Hans Tung and Rita Yang of GGV Capital.
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This show is previously known as 996 with a specific focus on tech in China. You can access all the previous 996 episodes in this same feed. This episode is a recording of the fireside chat we hosted in Bangalore on September 19th. In the chat, we talked about what does evolving for the next billion means for each of the panelists, the evolution of India's startup ecosystems and what keeps the panelists going. We were overwhelmed by the enthusiasm and brilliance of the audience that night and everyone we met during this India trip. We want to express our gratitude towards everyone who showed up that night despite Bangalore traffic. Thank you! For the full transcript of the show, go to nextbn.ggvc.com Join our listeners' community, go to nextbn.ggvc.com/community.
This show is previously known as 996 with a specific focus on tech in China. You can access all the previous 996 episodes in this same feed. On this episode, we have Manu Kumar Jain, the global vice president at Xiaomi and the managing director of Xiaomi India. Xiaomi is currently the world's fourth-largest smartphone brand. Besides smartphones, the company also makes other smart devices connected to its IoT platform. It is the youngest company on the Fortune Global 500 List for 2019. In the wide-ranging conversation, we discussed the biggest success factor of Xiaomi in India, how he goes about hiring, working with Xiaomi's founder Lei Jun, and his advice for foreign brands who want to make inroads into India. Manu joined Xiaomi in 2014 as the first employee and managing director of Xiaomi India, where he has grown Xiaomi to India's NO.1 smartphone brand for 6th consecutive quarter. Before joining Xiaomi, Manu co-founded the fashion eCommerce company Jabong and worked as a consultant at McKinsey. He holds a bachelor's degree in mechanical engineering from Indian Institute of Technology in Delhi and a post-graduate diploma in management from Indian Institute of Management, Calcutta. For the full transcript of the show, go to nextbn.ggvc.com Join our listeners' community, go to nextbn.ggvc.com/community.
Today on the show, we have Kunal Bahl and Rohit Bansal, co-founders of Snapdeal. Snapdeal is India's leading online marketplace. The company started out as a flash deal website in 2010, soon evolved into a leader of India's e-Commerce sectors. In early 2017, it was on the verge of being merged to its biggest rival Flipkart, then upgraded itself to Snapdeal 2.0, with a focus on the value-conscious buyers in India. Over the last couple of years, with this focus, the company has seen a significant and positive transformation. As of July 2019, the month this interview is conducted, the company has increased its annual revenue by 70% and cut its loss by 70% comparing to last year. The two co-founders of Snapdeal are high school friends bonded over food and math. Kunal graduated from the University of Pennsylvania with two bachelor's degrees in Business and Engineering. While studying in the United States, he also started a detergent company and worked to sell his product at Walmart stores. Rohit graduated from the Indian Institute of Technology New Delhi with a bachelor and a master's degree in computer science, India's top engineering school. On this episode, we covered the behind the scene story of their decision in saying No to Flipkart, focusing on the 400 million value-conscious buyers in India, navigating substantial change in high transaction velocity business, building a culture of acute intellectual honesty, and going through the best and worst of doing business alongside of your best friends in high school. - For full transcript of the show, go to nextbn.ggvc.com - Join our listeners'community, go to nextbn.ggvc.com/community.
For the first episode of the Evolving for the Next Billion podcast, we have Vaibhav Gupta, co-founder of Udaan, India's top B2B eCommerce. The company connects manufacturers, wholesalers with retailers online, often referred to as India's fastest unicorn, having achieved over $1 billion valuations in a short period of 26months. Udaan is a GGV portfolio. Prior to starting Udaan, VG was the senior vice president in Business Finance and Analytics at Flipkart, one of the most successful e-commerce platforms out of India, sold to Walmart in a $16 billion deal last year. His other two co-founders for Udaan were the former president of operations and CTO at Flipkart. VG holds a bachelor's degree in Computer Science and Engineer from the Indian Institute of Technology and an MBA from the University of Virginia. Welcome to the show, VG. On the show, VG shared how his time at Flipkart, the eCommerce giant of India sold to Walmart in a 16-billion-dollar deal, helped him launching Udaan, why distribution is a much bigger business in India than retail, India's second generation of founders, and the most frequent item he buys online. - For full transcript of the show, go to nextbn.ggvc.com - Join our listeners'community, go to nextbn.ggvc.com/community.
GGV Fellows is accepting applicants for its 2020 cohort. The program, which is a week-long intensive learning experience in Beijing, provides a fast track for aspiring entrepreneurs who want to become part of China’s startup ecosystem. On top of hearing from some of the biggest names in China’s tech industry, fellows will be equipped with essential skill sets to survive and thrive in their entrepreneurial endeavor and get plugged into the supportive network GGV provides. The deadline for applications is Sept 30th. The program will be in Beijing from Jan.2nd to the 6th, 2020.  Note that the program will be conducted in Mandarin, so the applicants need to be fully proficient in the language.   Apply at http://ggvcommunity.mikecrm.com/cEkWZYw. Read on why we organized GGV Fellows here https://hans.vc/why-we-organized-ggv-fellows/  After 20 months and 42 episodes, we are taking a moment to reflect and celebrate on this podcast. You will hear from Hans and Zara on the behind the scene story of how this podcast was started, why an English podcast about tech in China and what people can expect for the next season. You will also hear from our listeners’ community asking Hans and Zara a wide spectrum of questions, from how to spot a good CEO to how to break into VC if you are a fresh undergraduate.  Special thanks to Kenny Chan, Jacky Shen, Jun Zhang, Huang Zexin, Jenny Niu, Jonas Wolf and Barbara dos Santos, who recorded their questions for us.  The new season of this podcast will be launched in late September. Stay tuned to hear from some of the most exciting founders from India, Indonesia, Singapore and more.
Today on the show we have Josh Luber, the co-founder of StockX. StockX is the world’s first online stock market for high-demand consumer goods, namely sneakers, handbags, streetwear, and watches. On the platform, buyers place bids, sellers place asks and when a bid and ask meet, the transaction happens automatically. The Detroit-based startup was launched in 2016 and has expanded to Europe by launching its first authentication center in London. StockX is a GGV portfolio.   Before launching StockX, Josh has built 3 other companies and worked at IBM as a strategy consultant for almost 5 years. He holds a dual degree in law and MBA from Emory University. None of this is as impressive as the fact that he started collecting sneakers from 10 years old and has more than 350 pairs of sneakers in his home.   On the show, Josh shared with us how his online price guide for sneakers became a stock market for things, why the obsession for streetwear and sneakers is a global phenomenon, his definition of global company being a collection of local companies, having celebrities like Eminem as investors and how he found StockX’s new CEO Scott Cutler, who used to be the CEO of StubHub, eBay’s online ticket exchange platform. We also asked about StockX’s plan for entering China and some pro tip for buying sneakers on StockX. 
In this episode, GGV Capital’s Hans Tung and Rita Yang interviewed Renee Wang (王小雨), the founder and CEO of CastBox, a global podcast platform often referred to as the "Netflix for podcasting". It uses natural language processing and machine learning to power unique features like personalized recommendations and in-audio search. According to a report from Sensor tower in April 2019, Castbox is now the biggest 3rd-party pure-play podcast app.   Before launching CastBox in 2016, Renee worked for Google in China, Japan, and Ireland. She holds a bachelor's degree in Peking University in psychology and mathematical statistics. While in college, she taught herself coding and became one of the earliest Android developers in China.    On the show, Renee discussed user acquisition in international markets with a cross-cultural team, integrating Chinese social app features into its global podcasting platform, the landscape of consumer-facing audio apps in China and her strategic decision for not entering the Chinese market. She also shared her journey of landing a job at Google without speaking a word of English, selling her apartment in Beijing to fund her startup and leading a diverse team spread across the US and China.   Join our listeners' community via WeChat/Slack at 996.ggvc.com/community.  The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or “GGVCapital” on WeChat.
On this episode, we interviewed Brian Gu (顾宏地), the vice chairman and president of XPENG Motors, also known as Xiaopeng Motors, a Chinese electric vehicle company and a GGV portfolio company. The company designs and manufactures what it calls "Internet cars" which has AI technology integrated into the vehicles. Prior to joining XPENG Motors in March 2018, Brian was the Chairman of Asia Pacific Investment Banking at J.P. Morgan. He holds an MBA from Yale University, a Ph.D. in Biochemistry from the University of Washington Medical School and a bachelor's degree in Chemistry from the University of Oregon. At XPENG, Brian leads the company's global strategy, finance, fundraising, investments and international partnerships. Brian discussed his journey from an investment banker to a tech company executive, why China's EV market excites him, and how XPENG differentiates itself from its competitors. This episode also features a bonus interview with GGV Managing Partner, Jixun Foo, on why we invested in XPENG Motors. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at http://ggvc.com/, or "GGVCapital" on WeChat.
On a special "AMA" (Ask Me Anything) episode, GGV Managing Partner Hans Tung answers questions posed by our listeners on a wide range of topics. How did Hans break into the VC world? What made he move to China and then come back to Silicon Valley afterwards? How does he deal with failures as an investor? What does it take for non-Chinese entrepreneurs to succeed in China? What motivates him to wake up and work hard every day? Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or "GGVCapital" on WeChat.
We interviewed Hao Wu, a Chinese American film director, producer and writer to discuss his recent work "People's Republic of Desire", a documentary about the live streaming industry in China. Originally trained as a molecular biologist, Hao worked in tech before becoming a full-time filmmaker. He held various management positions at technology companies including Excite@Home, Yahoo China and Alibaba. From 2008-2011, he was the China Country Manager for TripAdvisor. As his career progressed, so did his passion in more artistic and creative endeavors. In 2012 he decided to pursue documentary filmmaking full time. His latest work, which is the subject of this episode, is a documentary called "People's Republic of Desire", a journey into the live streaming industry in China, where Hao follows a few top streamers on YY to document their lives behind the screen. The film has won the Grand Jury Award at the 2018 South By South West, among many other awards, and has screened at over 40 film festivals worldwide. The New York Times calls the film "hypercharged," while The Los Angeles Times says it's "invariably surprising and never less than compelling." If you haven't watched the film, we highly recommend doing so. It is available on Vimeo, iTunes, Amazon and Google Play; just visit desire.film for the links. Hao has produced two other documentaries, The Road to Fame, and Nowhere to Call Home. Hao holds a bachelor's degree in biology from the University of Science and Technology of China, a master's degree in molecular and cell biology from Brandeis University, and an MBA from the University of Michigan's Ross School of Business. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or "GGVCapital" on WeChat.
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