Chinese internet portal iFeng, operated by Phoenix TV (2008.HK) subsidiary Phoenix New Media, has reportedly disbanded its microblog development team and transferred its members to other posts, according to an industry source. The source said the move was due to the microblogging platform's lackluster performance.
VP Wu Huapeng denied the rumor, saying that the team remained intact but has "been assigned a new task," and remains committed to the maintenance and improvement of the platform. "The product and operations team has not changed," said Wu.
According to a source close to iFeng, the question of whether to abandon the platform has been discussed internally many times. Some members of iFeng's management team believe that iFeng microblog does not have a clear enough business plan.