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Web 2.0 madness grips China

A rising middle class, cheap start-up costs, increasing penetration of PCs and Internet-enabled cell phones, and an ability to tap the local market better than multinationals like Google or Amazon.com, among other factors, is fueling a rush into Web sites, online games and companies with novel advertising pitches.

Margins are tight and competition is intense, but there’s a huge payout for the winners.

One of those winners is Kevin Li, founder of video-sharing site KU6.com. Li is probably the most enthusiastic person I’ve ever met.

He bounds past workers installing ceiling tiles and fixing the elevator to greet me. “You’re the first visitor in our new office. Ha ha!” he exclaims, adding that the old office was a rented house.

Li has a lot of reasons to be excited. Last September, when it launched, KU6.com was one of more than 200 newly minted video-sharing sites in China. Now, it’s one of the fastest-growing survivors. The site attracted 2 million unique users a day in the last week of May, Li claims, and unique users have been growing by 200,000 a day on average per week. KU6.com, which broke even in three months, is the 46th most popular site in China, according to Web site ranker Alexa.

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June 18, 2007 - Posted by | clone, video, web2, youtube clone

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