chinict

Chinese private social network P1 doesn't want to expand abroad

28
May
P1 private social network

Yu Wang, P1.cn founder & CEO, announces today at the 6th edition of CHINICT in Beijing that the Chinese private social network has no intention to expand abroad.

"It's a small world..."

Founded in 2007, P1 is a private social network. Contrary to typical Chinese networking sites like Renren Network and Kaixin001, it only targets a small audience: affluent and urban people who need to expand their network. In order to provide a trusted environment, P1 membership can only be obtained through invitations, insuring members to connect with aliked people.

P1 is doing fine in China...

The network currently consists of 700,000 individuals in Beijing, Shanghai and Hong Kong. Their business model is based on advertizing, ecommerce (private sales) and offline events (parties, social activites...) exclusively reserved to P1's members. Since the network wants to remain a close community, there is no need to advertize. In addition, Yu Wang says that P1 focuses only on China and there was no plan to expand abroad. The other internationally well known private social network is aSmallWorld.
 

Kaixin001 wants to become more than a gaming social network

27
May
Kaixin001 gaming social network

Kaixin001, one of China's largest and fastest growing social network site, hits 80 million users, Hans Tung (Kaixin001's Board Director) says at the 6th edition of CHINICT which takes place on May 27th & 28th 2010 in Beijing, China.

CHINICT is a conference which gathers every year all the actors of tech innovation and entrepreneurship in China.

A successful Chinese social network

Famous for launching social games on a social platform, Kaixin001 has had an astronomical growth very quickly online since its foundation in 2008. The company thinks that the key thing of any SNS site is the social relations on the site : friends and family who are all on the site and who can share headlines, etc.  Gaming tries to build things that users would welcome, users would enjoy.

For example, Happy Farm, the most famous game in the platform, hit more than 15 million active users in 2009. Even after this peak, they are still 10 millions this year. Kaixin001's success in China can also be explained due to the permanent blockage of other social network webstites, such as Facebook, MySpace and Twitter.

A Gaming social network, and then ?

Kaixin001 needs some time for 3G adoption as well as smartphone adoption. But the Chinese social network does not want to be known solely as a gaming platform. It is now getting itself into the travel sites business as well. They also seem ready to open to third-party. Nevertheless, despite its growth, Kaixin001 doesn't think that time to IPO has come yet...