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Comment on Why Chinese Crowdfunding Sites Aren’t Really For Entrepreneurs by Ivan Pavlovic
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Comments for TechNode
“Projects on Chinese crowdfunding sites aren’t really for crowdfunding,” explains Summer Su, a marketing executive at hardware startup Crazybaby.
That’s why Chinese startups like Crazybaby only put their product on a Chinese crowdfunding site after running a successful campaign on an international crowdfunding site.
“We’re running a crowdfunding campaign [on Taobao] in order to launch Crazybaby into the domestic market,” says Su.
Both foreign and Chinese startups also have to overcome logistical hurdles on international and Chinese crowdfunding platforms.
So far, only sales-focused Chinese crowdfunding platforms have thrived, like e-commerce tycoons JD and Taobao.
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