I get this question often, why would both these companies, who are competitors in many ways, share their data with KanKan? Investors scratch their head wondering what the motivation is behind this.
In a phone call last week, I had asked the CFO, Doug Osrow, why Alibaba (who is investing TONS into AI companies) hasn’t invested in MARK. The response was similar to this…”we can’t take money from Alibaba or Tencent as the other wouldn’t be happy.”
So, why is it that both companies are willing to work with KanKan? KanKan must be doing something for them that no one else can do, right? I came across a good article on Technode recently that talked about KanKan and their partnerships. Thinking they might have more insight, I asked the author, Sasha Borak, my question and she very kindly provided me with the following quotes from an interview they did with the CEO and CTO of Remark, Shing Tao and Jason Wei. Here is what they had to say.
˝Alibaba, watching us from the sidelines, then offered to partner up with us using their data to train with our data and subsequently Tencent did the same around 7-8 months later. We have become the only company in the world right now that has been able to establish this kind of data partnerships in terms of building these AI models.
“Now before, Alibaba had tools to analyze online behavior and company usually had to go to either Tencent or somebody else to know their social behaviors and at the same time they would try to use their own data to analyze their offline consumer insights. But these three parts were not connected. They don’t know who is who. So we come in and unite this data so we can identify your consumer through a specific ID and we can link their behavior together. This created a different level of insights for the retail customers.˝
My takeaway from this is that the KanKan platform, through these two unique partnerships, has an incredible depth of knowledge of the Chinese consumer. A depth that is unmatched and puts them in a unique position within the Chinese market. If you’re wondering why KanKan is growing so fast, this is likely a big part of the answer.
Working with two massive internet giants like Alibaba and Tencent is a very tricky business. However, if you can manage to pull it off, you have two very powerful partners with gobs of data to share. It’s a high-wire act, but Remark seems to be doing a great job of walking it.
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