Why why Shanghai as the first city
outside Hong Kong?
So, first of all, it’s a Tier 1 city.
It is very diverse compared to…
compared to other Tier 1 cities,
it’s quite similar to Hong Kong.
And also because we want to focus on
different verticals… besides car… so,
some luxury brands or some,
for example, expensive cameras.
These brands’ headquarters are also in
Shanghai, so we chose to go to
Shanghai to be closer to these people.
But when you move like from Hong Kong
to Shanghai, you already expand
beyond the car-sharing industry.
So, you already… but but that you also
copy that model for Hong Kong cos I know
in the Hong Kong model, you you stick
with just sharing car (Yeah.) but in
Shanghai not only expanding in terms of
geographic but you also expand
in terms of the range of shareable items.
Then, what makes you think of…
you're not just replicating the model in
Hong Kong (But also expanding.) cos at
the same time you’re actually trying out
to expand that model. (Yeah.) So,
wouldn't that be a little bit more risky or
why or why wouldn’t you try that first
in Hong Kong and then expand there?
Well, on hindsight, it's definitely a lot
riskier and it turns out having your…
having your focus spread across all the
different verticals make the team really
difficult to to find collaborations and to
build the business.
What we learnt is that, for example,
the target audience for using cars...
is actually very different from people
who may use a camera or who may
use… who may want to borrow a dress.
So, it makes the marketing costs
basically really high. (Right.) And
also… and also, so we basically had
kind of like a rush because we wanted
to tap into the China market.