Sina Tech, 2/21/10
Former Shanda Games (Nasdaq: GAME) CEO Li Yu's new company, will focus on SNS-based models, has officially begun operations. The company is currently hiring for a team that will initially number approximately 30 employees, in preparation for new product R&D. The company is based in Shanghai's Zhangjiang Hi-Tech Park.
The new company plans to begin internal beta of its new products in approximately six months. Li said that the company has "an extremely clear" profit model, but declined to divulge any details - though Li said that the company would not charge users for its products.