Pin-Vaudot: A Chinese E-Commerce Company

Four out of the five most popular applications, just by the number of downloads, are now Chinese applications. Timo: It says at least three things about the state of the economy that are really interesting to me. The second thing that it speaks to is just how incredibly competitive e-commerce is in China. And then the third thing that I'll just mention quickly, Timo breaks the mold in that you get incredible prices, but you have to wait.