In Depth

Tigerobo: No.1 Powerful Financial Technology-based Search Engine in China Market

Tigerobo Innovation in China Search Engine Market, which is different from Google

In the first half of this year, Tigerobo has achieved the annual revenue of last year, the service of Tigerobo coverage of more than 25 million users.

Tigerobo: the New Changes in China Search Engine Market

The users are takes for granted in the search engine market. However, there had a few new changes this year.

In March 2020, launched Toutiao search; in April, Quark, a search engine owned by Alibaba, released version 4.0, an upgrade focused on education and healthcare; just recently, Tencent bought Sogou.

According to statistics from StatCounter, Baidu had a 66.15% market share of the Search Engine market as of June this year. Followed by are Sogou and Haosou search, which ranked second and third, with 22.06% and 3.40% market share respectively.

In fact, the Toutiao search engine has been building a team since 2017 and has embedded the Toutiao search into the Toutiao App. Bytedance had previously announced in July 2019 that it would develop a universal, full-web search engine from zero to one.

Tigerobo, founded in 2017, has chosen to compete from a vertical field in a search market crowded with giants.

Tigerobo in FinFast 101
Tigerobo in FinTech Fast 101 by IDC Financial Insights

Tigerobo: Enter the B2B market from the vertical

Tigerobo is an ARTIFICIAL intelligence company focusing on natural language processing, deep learning, and other technologies. Chen Ye, the founder and CEO, has held a senior scientist and R&D director positions at Microsoft, eBay, and Yahoo in the United States.

It is worth noting that before the establishment, Chen Ye was senior vice President of Meituan-Dianping, in charge of the company advertising platform, helping Meituan-Dianping increase its advertising revenue from 10 million yuan to more than 4 billion yuan in the year.

From the perspective of business, this financial technology-based search engine focuses on the new generation of search engine and recommendation, which hopes to present the information and data of various industries visually through technical products, to improve the efficiency of individuals and enterprises. The first entry of Tigerobo is into the Financial Technology field.

Tigerobo: the typical example help APPs upgrade

In the service of the Founder Securities”XiaoFang” APP, intelligent search function after the upgrade, Tigerobo help “XiaoFang” APP fully integrated the scattered in various sectors of the stock information, product information, interest information, service information, through information entry and shortens the path of the user access to information, improve the information service efficiency at least 50%.

Take another head securities company as an example. Tigerobo customized an intelligent information system to conduct smart labels and intelligent recommendations for the full amount of information in the system through natural language understanding technology. Three months after the system was launched, the click-through rate of the users of the brokerage App increased by 60%, finally bringing a substantial increase in business volume.

Overall, the B2B market is based on Tigerobo primus can search engine as the center of product technology, integrated application of semantic understanding, entity recognition, knowledge extraction, sentiment analysis, such as the core technology. Tigerobo through to internal and external data resources, provide policy, industry news, secondary market, unstructured data such as comprehensive information and data services.

At present, Tigerobo has served nearly 100 B2B clients, covering five fields of finance, government affairs, media, commerce and commerce, and energy, providing intelligent products and services such as intelligent search engines, NLP algorithms, intelligent question-answering robot, and intelligent public opinion system.

But for companies in traditional industries, the need to update their search technology won’t be too radical. In an interview with Jiemian News, Chen Ye, the founder, and CEO of Tigerobo said that the real pain point for these companies is the fact that they need to have rapid technical experience under the circumstances of high precision of industry information and very complex data sources.

Speaking about why he chose to enter the search market from the vertical field, Chen Ye said that in the decades of natural language processing and AI technology development, there been the first generation of the search engine, producing companies such as Google and Baidu, but they are all keyword matching. Chen Ye believes that the second generation of search engines should be more like a conversation between people, “This involves more technical breakthroughs, Tigerobo wants to do is a new generation of search engine.”

Chen Ye used to give an example,  in the search box of Tigerobo enter  Alibaba active consumers.” Then, it will transfer the unstructured results from the newest Alibaba Financial Report directly presented to the user in a structured way. At the same time, the Tigerobo search engine will automatically enable “Tigerobo translation” and “Tigerobo model” of natural language understanding, accurately find the answer to the” Annual active consumers .”

Tigerobo Founder
Tigerobo Founder and CEO

Tigerobo: focus on B2B & B2C Marketing 

At present, this company has more than 100 employees, 70%-80% of whom are technical R&D personnel. As a small size of start-up company, Chen Ye praised Silicon Valley’s engineer culture, the company has also been very focused on innovation in the internal business, and the B2B market and B2C market are both layouts at the same time.

On March 25 last year, It announced the full-scale scenario product with a matrix development strategy. Chen Ye announced at the conference that the official opening of individual users flagship product “Tigerobo search.”

Since its establishment, based on NLP natural language processing, deep learning, and other technologies, Tigerobo has applied a structured search presentation to its core B2C market product — Tigerobo search. The monthly active users of B2C market matrix products represented by the Tigerobo search have exceeded one million.

Since September 2018, Tigerobo has launched a series of products for B2C users, including apps and small programs such as “Ximei” and “Souyanshe.”

“Ximei” is one of the B2C products, which uses machine translation, and machine summary to automatically captures and translates authorized foreign language information and provides English information content.

It is the first attempt at Tigerobo in the content product line. Chen Ye revealed that the original intention of the product is to make users more easily see more high-quality, interesting global information, which is a very asset-light product, the team behind not many people. “After we try it out, we will launch more content products based on our Q&A technology.”, said Chen Ye.

At present, Tigerobo products are more diverse. Chen Ye believes that the technical architecture and underlying logic of these products are the same, are based on the Tigerobo new generation to research and development. Take “Ximei” as an example, this APP applies strong machine translation technology in the vertical field and makes a recommendation after users click, read, and search feedback, but the change behind is still the extension of search.

In terms of profit, the company’s business has not been affected by the Coronavirus this year. In the context of accelerating the digital transformation of traditional enterprises. In the first half of this year, Tigerobo has achieved the annual revenue of last year, the service of the company coverage of more than 25 million users.

For B2B and B2C market layout, Chen Ye revealed that this year’s focus is still the industrial end, including finance, media, energy, government, and enterprise, etc., “Through serving some of the head of the customer, precipitation out of some product lines.” But he also said the B2C market would be the company’s ultimate goal.

Jiemian News has realized that by the end of this year, the search engine will launch 2 or 3 fully standardized products; In the B2C market, there will also be a universal “content + search” product.

Chen Ye said Tigerobo hoped to list the enterprise service that is the most mature part of this company, on the Sci-Tech innovation board in the next two to three years. In March 2019, the company announced the completion of $33 million A round of financing from PAC, CreditEase, and Gaorong Capital.

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Yuffie Song

Yuffie Song is a big data analyst expert before she joined FirmKnow. She was studying Financial and Corporate Risk Management, at the University of Sussex. The most important personal feature of her is intelligent, logical, and sweet. Yuffie always has some wise suggests, which filled people around her always surprised by the original insight.
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