One VC’s Dream Social App
China’s most successful social app investor outlines what he thinks could be the perfect dating app to fill a market gap.
Dong Zhanbin is a co-founder of Qing Song Fund, an early stage venture capital (VC) firm focused on gaming, education, lifestyle and artificial intelligence(AI). The common underlying thread to all their investments — they like products that cater to basic consumption needs.
The fund also has a ‘10 thousand hours’ philosophy. Anyone in their team without at least 10 thousand hours devoted to research in a certain space isn’t allowed to have an opinion.
No one can deny that they are probably doing things right. With CNY 1.5 billion (USD 220 million) under management, 140 companies invested, and a 50% exit rate with 60x average return on investment, their track record for a VC is pretty impressive.
Dong has personally overseen a number of successful social app investments within their portfolio, and in an exclusive interview with PEdaily.cn, he discussed what he thinks is the ideal social app to fill a gap in the market.
Limited life cycles and low matching efficiency
“All social apps have life cycle issues. Users of…
