188bet Online Sports Betting and Casino, the “unicorn” from Silicon Valley, comes to China，But it doesn’t seem to be so “popular”。

August 26，Lee Kai-fu, Chairman and CEO of Sinovation Ventures, disclosed in an interview with Bloomberg Television，He is not optimistic about 188bet Online Sports Betting and Casino opening the Chinese market，Even said that the probability of success is "zero"。

Kai-Fu Lee: 188bet Online Sports Betting and Casino may encounter cultural shock

The Q&A between Kai-Fu Lee and the host of Bloomberg about 188bet Online Sports Betting and Casino is this:

Bloomberg: “What is the likelihood of 188bet Online Sports Betting and Casino successfully opening the Chinese market？We have had many other companies beat many of our competitors。”

Kai-Fu Lee: "188bet Online Sports Betting and Casino...if you mean how likely they are，If we are as successful as Apple in the Chinese market，Then I think the possibility is zero。”

Bloomberg: “That’s a little lower than Apple，How successful is 188bet Online Sports Betting and Casino in the US market？”

Kai-Fu 188bet Online Sports Betting and Casino: "The possibility of the same is zero，I think if they want an opportunity like Uber，Then they may be hit。”

When talking about sharing economy companies like 188bet Online Sports Betting and Casino，Whether it will be very difficult to enter the Chinese market，When looking for a Chinese to be CEO，Lee Kai-fu speaks out，“I think finding a Chinese CEO is a smart move。”

“Uber never did this。This is of great significance to the operations of American companies in the Chinese market，So it would be very wise for 188bet Online Sports Betting and Casino to find a Chinese CEO。But its operations in China (compared to the United States) are culturally very different，I think most of their efforts are spent on getting Chinese tourists to stay in an overseas version of 188bet Online Sports Betting and Casino，There is nothing wrong with this。" Kaifu Lee said。

But Kai-fu Lee mentioned further，188bet Online Sports Betting and Casino wants to enter (Chinese market)，And get a franchise like in the US，User base、People’s living habits、People’s living expectations，And those who want to rent a house，They are all very different。“So 188bet Online Sports Betting and Casino may experience culture shock，Think about it if the Chinese market was so easy to open，Then those blind imitators have long since become companies with a market value of 10 billion US dollars。”

Focus more on 188bet Online Sports Betting and Casino tourists’ outbound travel

188bet Online Sports Betting and Casino officially entered mainland China in 2015，However，This star from Silicon Valley in the United States has not become "popular" in China as many people expected。In the opinion of some industry insiders，It is exactly as Kai-fu Lee described，188bet Online Sports Betting and Casino spends most of its efforts on keeping Chinese tourists overseas。

The Paper reporter once contacted 188bet Online Sports Betting and Casino，Want to interview its progress in the Chinese market，However，The reply I got was: I don’t want to talk about promoting the Chinese market，But he is willing to be interviewed on how to attract Chinese tourists to choose 188bet Online Sports Betting and Casino when traveling abroad。

“Obviously，188bet Online Sports Betting and Casino has not made great efforts to develop its business in China。”As 188bet Online Sports Betting and Casino’s competitor in China，The person in charge of a domestic accommodation sharing platform wants to disclose to The Paper reporter，The platform where it operates often draws lessons from 188bet Online Sports Betting and Casino’s overseas promotion practices when promoting its brand，“They (188bet Online Sports Betting and Casino) have some very bold promotions abroad、Novel case，For example, inviting customers to live in the museum，For example, during Halloween, we even do some horror-themed activities, etc.。But after 188bet Online Sports Betting and Casino comes to China，Obviously no outstanding promotion，You can even say，Almost never done any brand promotion。”

The person in charge of the platform revealed，For the Chinese who are good at imitating，Model innovation is not difficult to break through。“Domestic B&B、Short-term rental platforms are learning quickly、Digest 188bet Online Sports Betting and Casino’s overseas promotion cases，And combined with Chinese characteristics，Turn it into our own promotion plan and use it。”

The person in charge thinks，Maybe it’s because of “acclimatization”，Maybe it’s a positioning problem，But since 188bet Online Sports Betting and Casino isn’t moving faster in China，Then Chinese companies will have the opportunity to take the lead。

*This article is reproduced from The Paper.