Tencent Tech, 10/20/11
Kai-fu Lee, chairman and CEO of Beijing-based incubator Innovation Works, and Mike Cai, chairman of Chinese browser game site 4399.com, have acquired a 40% stake in Xiamen-based mobile app developer Tongbu Mobile (Tongbu.com) for an eight-digit RMB sum. Tongbu Mobile recently released its Tongbu Zhushou ("Sync Assistant") mobile application, which is similar to Fuzhou-based online game developer and operator NetDragon Websoft's (0777.HK) mobile organizer client software 91 Assistant. Tongbu Zhushou cannot jailbreak IPA files, but can install IPA and PXL files that have already been jailbroken.
Tongbu Mobile was established in 2010 by former 91Helper co-creator Xiong Jun. Tongbu Zhushou is the company's first product.
According to an industry source, though 91 Assistant has a large share of Chinese iOS users, it often crashes iPhones due to imperfect technology, creating a market opportunity for competitors like Tongbu.