The News Lense
Date: 2016/05/31, Business
By: Edward White
One of the world’s top tech investors has two pieces of advice for Taiwanese startups: chase global
consumer markets and work as hard as Kobe Bryant.
Hans Tung, a managing partner at GGV Capital, knows about unicorns – startups valued at more than US$1 billion. He was an early-stage investor in China’s Xiaomi and Alibaba, to name just two firms.
Speaking in Taipei this afternoon, Tung said most of the 84 unicorns produced in the U.S. to date, “especially the bigger ones,” sell consumer-focused products in countries around the world.
“They don’t focus on the U.S. market anymore,” he says. “They tend to be much more global.”
Tung grew up in Taiwan, moved to the U.S. at 13, went on to study at Stanford University and now ranks 21st in the Forbes Midas list for tech investors. [FULL STORY]