How the founder of a major Chinese tech news site is building a co-working space empire
Liu Chengcheng, the founder of 36Kr and spin-off Kr Space, predicts demand for co-working office space in China, the industry’s biggest market, to help drive growth for these businesses over the next decade
When Liu Chengcheng taught himself computer programming at the age of 12 with the aid of books and slow dial-up internet access, he knew his lifelong passion would be technology. He had little idea, however, about what entrepreneurship in this industry entailed.
Now aged 30, but still fresh-faced and soft-spoken, Liu has proven his business acumen by establishing in 2010 technology media company 36Kr, which became one of China’s biggest digital tech news site operators. It has evolved into a bridge that links domestic start-ups with investors, while separately building one of the largest co-working space operations in the country.
“We chronicled what Chinese start-ups were doing by reaching out to them one by one at a time when there was limited information online about this community,” said Liu, the company’s chief executive. “Many small companies also came to us to learn more about foreign business models.”
Backed by e-commerce giant Alibaba Group Holding, 36Kr estimated it had amassed a global readership of more than 150 million and published a total of 50,000 stories online as of last year even as it competed against rivals, such as Huxiu.com and TMT Post. 36Kr is often likened to TechCrunch in the US.
As more start-ups and investors went to the 36Kr site for news, the company seized the opportunity to link investors with the relevant companies. Its successful matchmaking, in turn, fed the news site with exclusive information to build up the authority and authenticity of 36Kr content.
About 58 per cent of early-stage firms covered by 36Kr managed to raise funds from institutional investors, according to the company.