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Rumor: Sina's Real Estate Teams Defect to Tencent

Guizhou Daily, 1/20/10

According to an industry source, the entire staff of the real estate channel at Chinese portal Sina's (Nasdaq: SINA) Guizhou Sina, which entered the Guizhou market a year ago, has signed on at rival Chinese internet company, Tencent's (0700.HK) upcoming Tencent Guizhou Housing site.

Lin Tao, deputy GM of Chinese real-estate website CNLand's Guiyang subsidiary, says that Tencent has tens of millions of users of its QQ social-networking and chat service in Guizhou province, and that the appeal of the QQ platform, and the promise of munificent benefits at Tencent, could have led to the Sina team's jump. Tencent began offering real estate information services nationwide in 2009, establishing more than 20 local sub-sites during its year of operation.

Industry sources have reported that Sina's Guizhou real estate team jumped ship to Tencent at the same time as Sina teams in Kunming, Chongqing, Xi'an, and Fuzhou.

Keywords: HR Lin Tao CNLand Internet portal Tencent Sina 0700.HK online real estate


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