Foxconn CEO: Kai-fu Lee to Invest in Chongqing
Chongqing Evening News, 9/27/09
Terry Gou, chairman of contract manufacturer Foxconn (2038.HK; 2354.TW), and one of the investors in the new start-up of former Google China president Kai-fu Lee, has revealed that Lee plans to invest in Chongqing's Internet industry. According to Gou, Lee plans to support projects that develop Internet technology, online games, and social networking services. Lee, Gou and the Chongqing municipal government are exploring the possibility of a joint investment project to support the city's Internet entrepreneurs involving Foxconn resources. However, Lee said that the plan is only in a conceptual phase, declining to reveal any further details, as the plan is not yet mature.
Lee's new company, Innovation Works, has already received 30,000 job applications, but has only hired 7 employees at present.
Editor's Note: According to Innovation Works, the company does not yet have plans to open any branch offices in cities other than Beijing.
Keywords: JV Kai-fu Lee Terry Gou Internet Foxconn Chongqing 2038.HK 2354.TW Innovation Works HR online gaming SNS
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