Sina Tech, 1/06/11
Liu Bin, chairman of Chinese mobile search engine provider Yicha, today announced the launch of a new company, Raker Korea, with USD 5 mln in funding from an unnamed Korean operator. Raker allows users to interact by competing in single player game rankings similar to California-based mobile game developer and platform operator Aurora Feint's OpenFeint platform. The move marks Liu's second foray into a foreign market following Yicha's entry into Japan. Raker Korea and Yicha operate independently.
Liu framed the decision not to continue focusing on the domestic China market or Japan market in terms of opportunity, arguing that China's mobile internet market will not begin a period of high growth until 2012, when he may return to the market, while the Japanese market by contrast is already saturated.
Liu became chairman of Yicha last year after handing over the CEO role to Yicha Japan's existing CEO. Yicha saw 2010 revenues from Japan reach approximately RMB 200 mln, and plans to list in Japan at the end of 2011 or early 2012.