Beijing StartupDigest – November 21, 2011

21/11/2011

Below is an archived version of the Beijing StartupDigest Events List – a weekly curated listing of the best tech startup events in Beijing. If you would like to get next week’s digest on Monday, sign up here.

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Congrats to Caidy on running a great Startup Weekend Shanghai event. More than 12 teams and almost a hundred participants, with more than 15 mentors, came together to create some great companies that created Infographic CVs to Luxury Market Community pages for consumers.In Beijing, congrats to the iWeekend teamin creating some fantastic startup teams this weekend.Have a great Thanksgiving Americans!

Regards,
Frank and David

@frankyu @davidatsg on Twitter
@frankyu01 @davidatsg on Weibo
The Beijing StartupDigest archives can be found here.

Some Interesting Articles
-My CER article on China and Mobile Games
-Kaifu explains Innovation Works vs. Y Combinator
-UXDay in Shanghai
-The Year of Sina Weibo
-What, Netease has a Weibo ?
-Being Successful as a foreigner in China startups

Beijing StartupDigest is curated by:
Frank Yu – Founder of Kwestr
David Ding – Founder of Bridge for Angels & Startup Entrepreneurs (BASE)

 

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StartupDigest Payments – September 23, 2011

23/09/2011

For newcomers: StartupDigest Payments is the members-only weekly email newsletter of the best articles in the payments technology industry.

You can become a member for free here.

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This week was FinovateFall 2011 in New York. For those who are interested in my tweet coverage of the presenters, feel free to check out my Twitter stream under @VentureDan. There were a few themes of the show that are worth mentioning. The first was the undeniable wave of interest around card-linked or transaction data-targeted offers, delivered either through banks or directly to consumers. Presenters in this area included Cartera, FreeMonee, ModoPayments, Offermatic, Segmint, Swipely and Truaxis. There were also several companies working on fraud prevention and consumer identity protection (Andera, Authentify, BillGuard, Experian’s MyID, MiiCard and Transecq). In addition, both FreeMonee and Bundle showed how they can use real transaction data to provide a more robust set of Yelp-like merchant ratings. We will cover news about all of these companies in the weeks following the conference.Our Take: As we discussed two weeks ago, banks are showing a surge of interest in providing offers to their customers as a way to replace debit interchange revenues lost by Durbin. Over the past 2 years, several new players have launched to help them do this using consumers’ transaction data for targeting. Interestingly, the market appears somewhat fragmented with several companies appearing to have traction with major banks. This is a very important revenue opportunity for banks and likely provides the largest market promise for startups in fin tech today (given that nearly $100 billion that is spent each year to drive consumers directly into physical retail stores). In the next two months, we should expect to see multiple banks launch targeted offer programs, and we will be keeping a careful watch on how they are received.

StartupDigest Payments is curated by:
Dan Rosen – Principal, Highland Capital Partners
Rich Aberman – Co-Founder, WePay

What You Need to Know This Week

Get Relevant With Your Rewards

By Rod Witmond, MediaPost

A few weeks ago a good friend called to say there was a special sale happening on one of my favorite Chardonnay wines at a local grocery store. After work, I raced over to buy case at a savings of $5 per bottle. What a great deal!

Cartera Commerce Unveils New Solution For Local Card-Linked Offers

From cartera.com

Cartera Commerce, the leading provider of card-linked marketing solutions, today unveiled its breakthrough solution for local card-linked offers, enabling banks, card issuers and loyalty programs to drive revenue from the explosive local advertising market. Cartera’s new performance-based solution enables issuers to market thousands of local, card-linked offers to their customers, who redeem offers just by swiping their cards in local stores. Cartera securely and privately tracks transactions and automatically delivers savings and rewards back in cardholders’ accounts in cash, points or miles.

BillGuard: We are Smarter than Me

By Mark Frauenfelder, Credit.com

What do you do when you notice an unusual transaction on your credit card? If you’re like most people, you call the credit card company to complain. If you’re really worked up about it you might also post a rant on one of those bitch board websites where people complain about fraudulent or otherwise sneaky credit card charges.

But those sites don’t really do much good, other than let you blow off some steam. The parties responsible for double charges, unauthorized recurring subscription charges, hidden fees, fraudulent charges, unauthorized charges, and “accidental” charges merrily move on to other hapless victims for fleecing.

The Four Most Interesting Finance Sites At Finovate

By Ben Popken, The Consumerist

This week there was a finance technology conference in New York called Finovate. I was able to slip in incognito because my press pass had been printed out as, “Ben Popken, Managing Editor, The Consumer Blog.” Freed from the shackles of people knowing who I was and thereby trying to influence my reportage, I was able to survey the scene with a clear and penetrating gaze. Here are four of the new sites that sounded the most interesting.

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StartupDigest Payments – September 2, 2011

2/09/2011

For newcomers: StartupDigest Payments is the members-only weekly email newsletter of the best articles in the payment technology industry.

You can become a member for free here.

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This week’s digest covers a variety of developments in the alternative payments arena: PayNearMe now allows unbanked customers to pay utility bills at thousands of 7-Eleven locations around the country, American Express is more aggressively promoting its Serve mobile payment solution, and ModoPayments lets consumers redeem merchant offers using their mobile payments platform. Though not necessarily “alternative payments,” we also included an article that builds on a theme from last week’s newsletter: Square is facing stiffer competition, this time from overseas.

 

Our Take:Alternative payments are sometimes criticized as “a solution looking for problem,” but the criticism seems less relevant in light of recent announcements like these. PayNearMe, for example, is attacking a very real problem in a well-defined market, while ModoPayments is betting its solution can help check-in based apps better monetize. We’re excited to see whether the race to develop lasting alternative payment solutions is won by innovative startups focused on solving niche problems or entrenched players trying to expand their offerings and looking to compete in new arenas.

StartupDigest Payments is curated by:
Dan Rosen – Principal, Highland Capital Partners
Rich Aberman – Co-Founder, WePay
 

What You Need to Know This Week

PayNearMe Now Lets You Pay Your Utility Bill At The Local 7-Eleven Store

By Leena Rao, TechCrunch

PayNearMe, an alternative payments product from the company formerly known as Kwedit, provides a compelling way for the “unbanked” to use cash payments for online goods. The “unbanked” refers to consumers who don’t have traditional bank accounts or cannot qualify for credit cards. PayNearMe allows people who don’t have or don’t want to use credit or debit cards to purchase products, pay for bills and more with cash at thousands of 7-Eleven stores in the continental U.S.

Index To Lead €10 Million-Plus Round In European Square Competitor iZettle

By Leena Rao, TechCrunch

Zettle, which is based in Sweden, launched earlier this year as a card reader that allows users to take credit card payments from chip-enabled credit or debit cards. The free device plugs into the iPhone’s port, and you download companion apps from the App Store and sign up for an iZettle account. To process a transaction, you simply plug in the chip-card reader, enter the amount and a short description of the item you are selling, take a picture and insert the buyer’s credit card.

American Express takes to the streets with Serve mobile payment system

By Jolie O’Dell, VentureBeat

At a recent rock festival in San Francisco’s Golden Gate Park, I ran into some American Express representatives promoting Serve, its new mobile payments product. Serve combines mobile, online and offline payment features, and targets users who rely heavily on their mobile phones. Serve accounts can be funded from a bank account, from a debit or credit card, or by receiving money from another Serve account.

Will ModoPayments Finally Monetize Check-In?

By Jay Donovan, TechCrunch

ModoPayments’ simple and comprehensive solution for providing mobile payments is interesting and what’s more, its offer-based approach may have finally cracked the code for monetizing check-ins. This is something that mobile location-based service providers (LBSs) like Foursquare, Loopt, Gowalla and ShopKick have, no doubt, been laboring over since their inceptions. And while ModoPayments is, at present, a non-NFC mobile payments platform, they plan to integrate with NFC too, when NFC reaches retail maturity.

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The Key to Startup Hiring

16/07/2010

We’ve noticed that there have been a ton of job postings lately in the Startup Jobs section of the StartupDigest Classifieds. This is a great sign of growth for lots of startups all over the world, which is both righteous and awesome.

Awesome Startup

As all of you continue the hiring process, we want to share an idea that will speed up the process of finding the best person for any job opening you have at your startup.

The key to startup hiring is realizing that the people you really want to hire aren’t looking for jobs.

The people you really want to hire are:

1) Working on their own startup, someone else’s startup, or for a large company (and kicking ass) but aren’t very happy there. This means that they would be open to a change if they got really excited about another company, but aren’t actively looking for it.

2) Active participants of the startup community. This means that they frequently communicate with the leaders of the startup community (e.g. Dave McClure, Eric Ries, Fred Wilson, Chris Dixon, etc.), they consume the latest technology and entrepreneurship news, and (ideally) they produce their own thoughts about emerging trends.

(In a fantasy world, they would also be close followers of your startup and frequent consumers of your product/blog, but the vast majority of the people you really want to hire might have heard of you, but don’t really know who you are yet.)

If all of this is true, it’s great that you’ve posted your job to the Classifieds because there is a lot there (co-founder opportunities, feedback requests, startup education content, global and local startup resources, etc.) that might attract someone who isn’t actively looking for a job. Of course, posting on the Classifieds is free anyway, so you really have nothing to lose.

We’re betting, however, that the Classifieds section isn’t the only place you’ve posted a job listing. Like many of us, you’ve probably paid money to post your job listing to a popular job board or hired a recruiter to post your job listings in even more expensive places.

Why would you pay money to post job listings in places the people you really want to hire never visit?

Startup Hiring

If the people you really want to hire aren’t looking for jobs, they will never see your listing on craigslist, Monster, HotJobs, theLadders, or even a place like StartUpers (which, admittedly, is at least the most fun one) because job listings are all that they offer.

Those places are great for stacking resumes of people who can fill limited holes with set tasks in your company, but the people who will actually make a lasting positive impact on the future of your startup visit those sites only when they’re looking for a cheap wetsuit or a two-bedroom in SOMA.

Since popular job boards won’t help you find the people you really want to hire, stop wasting your money on them and try these 3 things:

1) Pay for distribution, not for posting.

Or, to quote what many (like, say, Gary Vaynerchuk) have said before us — if content is king, marketing is queen and *she* runs the household.

If you have money to spend on hiring, spend it on marketing your company and your open position to people who definitely are not looking for jobs. Bake your job opening into content you produce on your blog or into a post/comment you add to the content you read.

To give you a real example, here at StartupDigest we help you distribute your Classifieds listings into the events content that is consumed every week by thousands of active members of local startup communities around the world.

Spreading good news about your startup to the people who care about the startup ecosystem most is the best way to find and hire the people you really want to hire.

2) Seek one great person, not “a response.”

What’s the key metric of success in startup hiring? Many founders or recruiters will tell you that they spend money posting on popular job boards because they know that they will get a response. From that response, they will know that a certain percentage will be acceptable resumes, and they know that they can find at least one acceptable person out of the set number of people they interview.

But if resumes reveal only a fraction of a person and hiring should be treated like getting married, how could you possibly settle for what’s acceptable from a numbers game when it comes to startup hiring?

If you go into the hiring process seeking one great person instead of “a response” then you will spend your time and money where the people you really want to hire are instead of where the most resumes will come from. This is a hard approach to take because hiring is an awkward process and if you don’t get 20 resumes in your inbox after day one, it’s easy to feel like you aren’t making progress.

Then again, if you change your definition of progress to locating one person you would really want to hire each day, that feeling also changes. We suggest sending simple notes to each of those people on a regular basis to keep him or her up to date on all of the cool things you’re doing at your startup. You can then track each person’s response as it shifts from “that’s cool” to “what’s coming next?” and “what if?” with a simple spreadsheet. Sounds like Salesforce for marriage, doesn’t it?

3) To speed up the entire hiring process, make it fun by hosting a startup party at your place. Or at least go to someone else’s.

Let’s face it, all of us just want to spend time building products, making customers happy, putting money in the bank, and changing the world for the better. We end up paying money to post a job somewhere, sifting through what we get, and taking what we’re given because we want our needs filled now so we can get back to the fun stuff.

Startups Like Fun

So, to save time and our sanity, we need to make hiring part of the fun stuff. One fun and efficient way to find the people you really want to hire faster is to host a startup party.

It’s cheap (unless you’re too cool for pizza and beer) and brings a large group of startup people around you, giving you the opportunity to show all of them who you really are and how much fun they all could be having if they were working with you instead of their current startup or big company.

Also, many entrepreneurs like to try before they buy when it comes to hiring as much as they like to save time, and hosting a party is the easiest way to get a first honest look at all of your potential candidates at once.

If you’re desperate for talent, especially on the technical side, and you don’t think that your party will attract them, at least don’t waste money on recruiters or expect technical talent to immediately respond to your job postings. Go chill out where the people you want to hire already are, as long as you’re willing to bring your brain and not spam every engineer you meet.

To give you one awesome place to go, the Hackers and Founders Meetup is the best place to grab a beer with smart, passionate startup people and talk about what you’re working on. On top of that, every week there are cool speakers and hackathons and iPhone, Android, WordPress, Drupal, Ruby, you-name-it meetups happening all over the world that are full of the people you really want to hire. You can find all of these events going on in your city here.

And speaking of technical talent, did you really think that great engineers would just read your job posting and email you in the first place? Honestly, put yourself in their shoes. Every brilliant programmer is what LeBron James was two weeks ago, a prized free agent (though programmers tend to be a lot less narcissistic).

Programmers are Prized Free Agents

Brilliant programmers are prized free agents. If you want to land them, hang out with them at their place!

Did Miami land LeBron by posting a listing somewhere, offering the best terms and hoping for the best?

No, Pat Riley & Co. hung out with LeBron where he spent his time, told him how sweet it would be to play with Dwyane Wade and Chris Bosh, and got him so excited about the opportunity that LeBron left his home and $30+ million to join them. You can land the next LeBron for your startup by taking the same approach.

In the end, if you remember that the people you really want to hire aren’t looking for jobs, the best way to find those people is to organize or attend fun startup events.

Take every chance you can to show active members of the startup community who you are and what your startup is all about, and talent will leave their current jobs and money on the table just to join you.

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