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View Full Version : Alibaba’s rival JD.com pushes crowdfunding in China by launching its own platform



Salvador Briggman
07-02-2014, 11:05 AM
Crowdfunding is still pretty much a novelty in Asia, and in particular China. Though there are a few homegrown firms, the concept hasn’t really kicked off as it has in the West yet, with major sites including Kickstarter and Indiegogo still not present within the country.

E-commerce firm JD.com is therefore seeking to be a frontrunner in this space by launching its very own crowdfunding platform, called ‘Coufenzi’ (which means whip-round), as first spotted by Technode. The new platform is managed by JD Finance, which offers internet finance services for its customers.

Read the full article here: http://thenextweb.com/asia/2014/07/02/alibabas-rival-jd-com-pushes-crowdfunding-in-china-by-launching-its-own-platform/

Considering that China's economy has gotten huge on the e-commerce front, I think there's huge potential for consumer crowdfunded projects in China, especially with their form of Twitter/Facebook.

The one thing holding them back I'd say is the ability for Chinese entrepreneurs to reach Western backers due to the country's strict internet laws and the lengths the entrepreneurs need to go to to get and build audiences on platforms we take for granted.

What do you think?

theartpreneurs
07-16-2014, 05:53 AM
China is going to be huge in crowdfunding like everything else

Ilya Kruchinin
07-18-2014, 10:16 PM
Also Suning launched there new project.

VinnyThePug
08-18-2014, 12:15 PM
I think those potential negatives that you've pointed out are not quite as powerful as one might believe. The leaders of China are probably far less in control than what is generally believed. Technology being what it is, the power of their control is greatly being diminished by the second exponentially.

sergem
09-04-2014, 07:09 PM
China is crazy (in a good way). So manyc technology, so many alternatives to world's famous services