Wang Gaofei, CEO of Sina Weibo, chatted with Wen Chu, CEO of GWC about the next phase of social networking. Wang Gaofei became involved with Sina Weibo in 2009 and soon rose to become CEO. Wang Gaofei believes that his leadership resolves around his technical perspective, having graduated with a computer science degree from Peking University.
Under Wang Gaofie’s guidance, Weibo has formulated a plan to become the platform for information in China. Wang Gaofie wants users to be able to access all the public information they want via the Weibo platform, eliminating the need to use physical resources like magazines, radio, or TV.
However, Wang Gaofei does not predict the future of the mobile internet and social networks in China will be dominated by just one player. Current mobile giants like Baidu, WeChat and Weibo are only meeting a small subset of China’s desires for mobile applications. Wang Gaofei envisions Chinese social networks of the future diversifying to a point where each network focuses on a specific user action—modern mobile users are bored of using just one or two social-networks that do not specialize in one action like taking video, or pictures or texting etc.
Wang Gaofei sees the needs of current Chinese mobile users not being met currently, but he also observed that there is a huge market potential for meeting the future demands of Chinese citizens living in less developed cities that do not use smartphones yet.
When discussing the IPO of Weibo, Wang Gaofei highlighted Weibo’s focus on fundraising and building investor relations within China versus other international markets. Wang Gaofei pointed out that their focus on Chinese versus foreign investors was because Chinese investors recognize that Weibo truly understands their Chinese users. “New start-ups and ventures in China have to understand the needs of their core local user base, even if they are raising funds in Hong Kong, or the US,” said Wang Gaofei.
Author: Ricky Davila