Keynote: Road for mobile internet IPO
Michael Song said that the feeling of Sky Mobi’s journey towards IPO was great. But at the point when it got listed, Song said that he felt nothing much.
“If you want to go for an IPO, you have to brush up your English,” he said. Song also said that East and West have very different topics of discussion about a company’s financial issues. The Americans have a certain fixed model to evaluate your company,” said Song. He advised all companies heading towards IPO to allocate more time in U.S for discussion and clarification.
While getting listed on Nasdaq is great, Song said that he isn’t very concerned about Sky-Mobi’s stock price. He showed a rising stock price chart and credited the team’s good performance on product development and sales.
As an internet company, he said that physical health is more important than intelligence because of the fast pace experienced within the industry. He also urged internet startup founders to learn fast because things change every 3 months.
On the Android market: We need to understand who needs internet mobile most, and we found out that its people in the rural areas. After that, we tried to understand what our audience wants and again we found out that price is a very sensitive issue.
In a final note, he said that internet bubbles are normal. Without the bubble, he believes that there wouldn’t be all the great internet products that we’re currently seeing. To him, he said that providing user experience and value is still the most important.
He also believes that mobile internet is going to be an industry that is ten times greater than the internet industry.
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