Wow. That was a short stint. Google only opened in China in 2005 [webmasterworld.com]. Then they had to fight Microsoft [webmasterworld.com] to employ Mr. Lee. They will need someone quite capable to take on the Baidu challenge in China
this is a google translation of kai-fu lee's blog post on leaving google:
Good-bye, Google by Kai-fu Lee - Sina blog [188.8.131.52]
and the original in zh-CN:
Google’s Ex-China Head to Fund Start-Ups - NYTimes.com [nytimes.com]:
|Three days after announcing that he was resigning as the head of Google’s China operations, Lee Kai-Fu said he had raised $115 million to create a company that would fund high-tech start-ups in China. |
That company, Innovation Works, will search for talented Chinese engineers and entrepreneurs and help them develop the next generation of Internet and mobile computing technologies, Mr. Lee said in a telephone interview Monday.
Innovation Works is being backed by the YouTube co-founder Steve Chen, Foxconn Technology, the Legend Group, New Oriental Educational and Technology Group and WI Harper Group, the American venture capital firm.
Thanks for the updates phranque!
When I first read about this new consulting job Mr. Lee was taking I'll have to say I wasn't overly impressed. That old adage about 'those with ability do, those without consult/teach' was stuck in my mind. Mr. Lee is obviously very capable so I wasn't sure what to think. I can't help wonder why he's taking this step. From the outside I guess I'm just not convinced that it's a step up.
Some more personal insight in this interview:
|What Now? Q&A with Ex-Google China Chief Kai-Fu Lee [pehub.com] |
Kai-Fu Lee, who last week resigned as president of Google China, has launched Innovation Works, an incubator for Chinese IT startups. It has been funded with $115 million, including from lead investor WI Harper Group and individual backers like Steve Chen (co-founder of YouTube), Terry Gou (chairman of Foxconn), Liu Chuanzhi (chairman of Legend Group) and Yu Minhong (chairman of New Oriental).
I spoke to Lee on Friday, and what follows is a transcript (we had agreed to embargo the news until this evening):