Word: portal
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...long ago left his horse-and-buggy home for Seoul, where he holds the reins of one of Asia's hottest Internet start-ups. Last October, he and partners Hans Tung of Taiwan and Chih Cheung of New York launched Helloasia.com an e-commerce and community portal with $20 million of venture capital. Helloasia.com is a kind of frequent-flyer program for Asia's Net surfers. The more you spend at its e-commerce site on items like CDs, travel tickets and computers, the more points you receive toward free gifts. The idea is to promote "stickiness," the ability...
...sellout [dot] com AN INDIAN PORTAL TURNS INTO A QUICK CONVERSION TO CASH...
...operated a website known as IndiaWorld, which posted local news and sports scores, primarily for Indians living overseas. His 20 staff members were squeezed into a 970-sq-ft. warren in downtown Bombay. Profits were minimal. But last fall Jain hit a cosmic payday when he sold his portal company, IndiaWorld Communications, to Satyam Infoway, an Indian Internet service provider listed on NASDAQ. The $115 million deal--one of the biggest Internet transactions involving two Asian companies--gave Jain instant celebrity, a whopping bank account and a desire to leave the Internet rat race, at least for a while...
...Asia what Silicon Valley has known for a long time: though going public is a fabulous way to cash in on the Internet, selling out to someone else can be a sure-fire moneymaker too. Satyam Infoway wanted content popular with overseas Indians to complement its own domestically oriented portal. IndiaWorld was pulling most of its 13 million monthly page views from outside the country. Jain got an unusual windfall because Satyam Infoway is paying the entire purchase price in cash, not in stock, which is more typical in such deals. His initial investment...
...paid off--so far. Netease.com is one of the top portals in China. With free e-mail, news, auctions and a job site, it claims to have upwards of 6 million page views a day. Netease.com and Sohu.com a portal run by Charles Zhang, are vying to be the first Chinese Internet companies to list on the NASDAQ. The payoff will be crazy, 10-digit money. But Ding still has to deal with the China Uncertainty Principle: bureaucrats in Beijing, whose treatment of the Internet is even more erratic than the movement of the markets...