Road Trip 2015: The first in a two-part series on Vietnam's startup scene and how the government is trying to rev up investment and interest in businesses that hope to be the next viral hit. HANOI and HO CHI MINH CITY, Vietnam, and SAN FRANCISCO -- It was just supposed to be a casual cocktail meetup. Before embarking on a 19-hour trip to Vietnam, I headed over to the Vietnamese General Consulate, a mere 15-minute cab ride away from the CNET offices in San Francisco. I imagined it as a fun way to ease into my assignment -- a few good drinks and conversation with folks who knew a thing or two about the country I was about to visit. Instead I arrived at what appeared to be a formal business meeting between two-dozen or so black-suited Vietnamese ministry officials, Vietnamese startup types and Silicon Valley angel investors. My only drink: A mini bottle of water. At first, I wasn't sure what I had wandered into. But it quickly became clear that I had been invited to observe a … [Read more...] about Why Flappy Bird was just the start for Vietnam’s startup scene
How do angel investors make money
How Wal-Mart made its crumbling China business look so good for so long
China’s developers face shakeout as easy money ends
The collapse of a Chinese developer in a city south of Shanghai foreshadows a shakeout among the nation's almost 90,000 real estate companies as the government reins in credit and the housing market slows. Zhejiang Xingrun Real Estate Co., a closely held developer based in Fenghua, is insolvent, with 3.5 billion yuan ($562 million) of debt. Its residential projects have been halted and authorities have detained its largest shareholder and his son, according to the city's government. Developers have proliferated since China began allowing private home ownership in 1998, causing a surge in demand and a rally in residential prices. For years, homebuilders binged on easy credit from banks and shadow financing from non-banks at higher interest rates. Now many developers are struggling with debt as thousands of apartment buildings across the country sit empty and the government abstains from providing further stimulus for the economy. "It's a positive sign that companies are not being … [Read more...] about China’s developers face shakeout as easy money ends
India’s startups lacking guardian ‘angels’
">" class="attachment-medium aligncenter" rel="lightbox" />AFP" /> It is seen as a land of entrepreneurs, economic growth and huge business potential, but India appears to be failing its promising startup companies which are struggling to find investors. While there is no lack of ideas among the country's vast young population, funding is declining from venture capitalists and rich "angel" investors, as they are known, who are often crucial to a young firm's success. "Risk-taking appetite from investors is low," said Internet entrepreneur Nameet Potnis, who is trying to address the problem by setting up Nurtured.in, a platform to connect startups with early-stage investors. "It is easy to set up an online business in India but very difficult to do business," he told AFP. Three decades after businessman N.R. Narayana Murthy and six other Indians sat around a kitchen table and formed leading IT outsourcer Infosys, the country is yet to create a favourable business … [Read more...] about India’s startups lacking guardian ‘angels’
Regulators, investors turn up heat over Facebook IPO
Two top U.S. financial regulators said on Tuesday the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its lead underwriter, Morgan Stanley, and the Nasdaq stock exchange. Facebook shares closed 8.9 percent lower at US$31, following an 11 percent plunge on Monday. At that price the company has shed more than $19 billion in market capitalization from its $38-per-share offering price last week. Reuters reported late Monday that the consumer Internet analyst at lead underwriter Morgan Stanley cut his revenue forecasts for Facebook in the days before the offering, information that was not disclosed to the market before the stock was listed. Facebook itself had urged analysts working for some of the 33 underwriters to lower their estimates ahead of the IPO, according to four sources with direct knowledge of the conversations that were held during the week prior to the IPO. "Facebook changed the numbers. They didn't … [Read more...] about Regulators, investors turn up heat over Facebook IPO