Netease Tech, 11/10/11
Chinese mobile browser developer UC Mobile confirmed today that Li Mingyuan has resigned as VP in charge of UC Paradise, the company's open mobile SNS platform, and now serves as a product consultant for the company. The UC Paradise team will now reporting directly to the company's product president, He Xiaopeng.
UC Mobile said that Li's decision was made to devote his energy to pursuit of an EMBA degree, and has declined to comment on speculation that Li resigned to work on a start-up venture.
Li joined Chinese internet company Baidu (Nasdaq: BIDU) in 2004, first bringing to market its Baidu Knows Q&A platform and online encyclopedia, Baidupedia, followed by his appointment as general manager of Baidu's e-commerce division in 2007. Li was recruited to UC Mobile in 2010, where he served as product president and oversaw the initial release of the browser-based UC Paradise platform.
By May this year, UC Paradise had gathered more than 8 mln users, and began offering developers a 50% revenue share. Li previously projected that the platform would grow to 30 mln users by 2013, by which time developers would be receiving commissions totaling more than RMB 100 mln from the company.