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Daniel Tay · · 6 min read10 Chinese tech companies that everyone will be talking about in 2019
Between 2012 and 2017, China has produced 46 unicorns, showing that it’s a serious contender as the next global tech leader.
Its startup ecosystem keeps investors active, dominating global venture capital filings and boasting mergers, acquisitions, and initial public offerings.
Using Tech in Asia’s database of investment deals – mostly based on funding rounds and acquisitions that have been covered by media – here’s a list of 10 Chinese tech companies to watch in 2019, ranked according to the amount of funding they’ve received or have been acquired for, this year.
1. Mobike
Photo credit: Mobike
Founded in 2015, Mobike is a bike-sharing startup that operates in more than 200 cities worldwide. Its rapid rise has been marked by user problems, including violations of bike-parking rules.
Meituan-Dianping acquired Mobike for US$2.7 billion in April 2018, and the ecommerce company subsequently removed the user deposit requirement, which was meant to incentivize good behavior.
In September this year, Meituan-Dianping debuted on the Hong Kong stock market, raising US$4.2 billion from investors. How this IPO will affect Mobike and arm it against competitors remains to be seen.
2. Pinduoduo
Photo credit: Pinduoduo
Ecommerce platform Pinduoduo, which allows users to join group-buying deals, went from startup to Nasdaq-listed company in just three years. It raised US$1.6 billion in its July 2018 IPO, gaining a valuation of US$24 billion.
In its IPO prospectus, Pinduouduo reportedly described itself as a combination of Disneyland and American warehouse club Costco. In other words, the company is positioning itself as a provider of both entertainment and value-for-money products. It also aims to gain a larger market share than Alibaba and JD.
3. JD Logistics
Photo credit: JD.com
JD Logistics, a business unit of JD, offers supply chain solutions like warehousing, transportation, and order delivery for ecommerce companies. In February 2018, it raised US$2.5 billion in funding from investors China Development Bank, China Life Insurance, China Merchants Capital, China Renaissance, Hillhouse Capital, ICBC International, Sequoia Capital, and Tencent.
4. Manbang
5. Unicloud
6. Ping An Good Doctor
7. ZTO Express
8. Didi Chuxing
9. SouChe
10. Youxia Motors
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They’re ranked according to the amount of funding they’ve received this year – or their purchase price.
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