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Wang Yan (entrepreneur)

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Wang Yan (Chinese: 汪延; born 1972) is a Chinese billionaire entrepreneur who co-founded the Chinese technology company Sina Corp. He formerly served as CEO and chairman of the company, and currently serves on the company's board of directors. As of November 2019, Wang is estimated by the Hurun Report and various Chinese media sources to have a fortune of US$8.9 billion. He is widely regarded as one of the most successful and influential figures in the Chinese technology industry, and known to be extremely private and media-shy.

Wang Yan
汪延
Born (1972-05-25) May 25, 1972 (age 52)[citation needed]
Beijing, China
Alma materPanthéon-Assas University, Affiliated High School of Peking University
OccupationEntrepreneur
Known forSina Corp
TitleChairman of Sina Yangfan Charity Foundation
Board member ofSina Corp
ChildrenMore than 1
In this Chinese name, the family name is 汪 (Wang).

Early life and education

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Wang was born in Beijing, China, in 1972. His father, Wang Hua (汪华), was a diplomat, investment banker and businessman in France.[1] His grandfather, Wang Dezhao, was a prominent physicist and academician of the Chinese Academy of Sciences.[2] Wang graduated from Affiliated High School of Peking University in Beijing.[3] He attended Panthéon-Assas University (University of Paris II) in Paris where he later got his law degree.[4][5]

Career

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As a law student in Paris in 1996, Wang, along with two high school classmates, created a web portal called SRSNet. This became the prototype for Sina.com, which was put online in 1998 after a merger of SRSNet and SinaNet, a Chinese language web site in the US.[6] As the General Manager of China Operations, Wang was involved in taking Sina public in April 2000, where it was the first ever Mainland Chinese Internet company to be listed on Nasdaq.[7][8] He served as Sina's president in 2001, and as CEO in May 2003.[9][10]

During Wang's tenure as CEO and President, Sina had become a dominant Internet portal with the largest online advertisement market share in China according to IResearch Consulting Group[11] while pursuing aggressive mergers & acquisitions.[12] In 2003, it emerged as the first profitable public-listing internet group in China[13] by changing into a series of new business opportunities besides online advertising, such as mobile content service of which annual revenue significantly improved in 2004.[14] Under Wang's leadership, Sina started to tap into social media amid fierce competition from rivals. In 2005, Sina Blog was launched which eventually paved the way for the birth of Sina Weibo, a Twitter-like micro-blogging platform[15] that would later reach 431 million monthly active users in June 2018.[16]

In 2005, Wang's refusal and resistance to the hostile takeover by Shanda attracted world-wide attention[17][18] The takeover was considered as "the first hostile takeover by a leading China-based company of a local rival".[19] After Wang's strong opposition to the deal and Sina's Board's issuance of "poison pill", Shanda backed off.[20][21]

Wang stepped down from CEO in May 2006.[9] Sina's rapid expansion left a number of failed attempts, especially in trying to develop online gaming, e-commerce, and search technologies. These were believed to have led to Wang's stepping down as the Chief Executive.[22] In an interview, he admitted some of the mistakes he had made.[23]

Afterwards, he stayed on the company's board where he has served in various positions including Acting Chairman and chairman.,[9] succeeded by Charles Chao in October 2012.[24] He remains on the company's board of directors.[25]

Political and social ventures

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Wang serves as a member of the Central Committee and the head of the IT industry commission of the China National Democratic Construction Association (CNDCA),[26] one of China's eight non-communist democratic political parties. In 2006, the IT industry commission of CNDCA submitted the "Personal Information and Data Protection Bill", Wang animated its congressional debate in order to push for its enactment.[27][28]

With the coverage of the nation-wide network of CNDCA, Wang founded in 2007 the Yangfan Charity Program (became in 2012 Sina Yangfan Charity Foundation),[29] a non-profit, charitable organization dedicated to provide educational resources for under-privileged children in rural areas of China. By 2016, the foundation has donated more than 2 million books.[30]

In 2004, Wang was one of the 10 founding members of the Society Entrepreneur Ecology (SEE) Foundation,[31] a non-governmental organization initiated by Chinese entrepreneurs committed to ecological environmental protection in China.[32]

Wang has also served as an inaugural vice chairman of Internet Society of China in 2005 [33] and a Strategic Committee member of the France China Foundation in 2012[34]

Wang became an Asia Fellow of Harvard Kennedy School's Ash Center for Democratic Governance and Innovation in 2012.[35]

References

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  1. ^ "汪华：子遂父志传友谊" [Wang Hua]. People's Daily (in Chinese). 2004-12-21. Retrieved 2018-10-31.
  2. ^ "新浪CEO汪延家世揭底：一门三博士家传拼命三郎". Sina.com News (in Chinese). 2004-08-18. Retrieved 2018-10-31.
  3. ^ "Outstanding alumni of Peking University High School, including General Mao Xingyu, got memorial rings". China Network Television. China. October 7, 2010. Retrieved 2018-11-03.
  4. ^ "Wang Yan". France China Foundation. Retrieved 2018-10-27.
  5. ^ Ozanne, Marie-Angelique (2008-06-27). "Au Coeur du Luberon Chinoise" [In the heart of the Chinese Luberon]. Le Figaro (in French). France. Retrieved 2018-11-11.
  6. ^ 分享到 (May 6, 2018). "汪延：出身名门的前新浪"掌门人"-创头条" [Wang Yan: Former Sina "head" from the famous door] (in Chinese). Retrieved 2018-11-11 – via Ctoutiao.
  7. ^ "SINA.com Announces Initial Public Offering; SINA.com IPO Was Priced At US$17 Per Share". Business Wire. April 13, 2000.
  8. ^ Zeng, Zimo (2007). 墨迹 [Ink]. China: 长江文艺出版社. pp. 124–139. ISBN 9787535434234.
  9. ^ a b c "Bloomberg - Executive Profile, Yan Wang". Bloomberg.com. Retrieved 2018-10-27.
  10. ^ "Sina Names New Chief Executive". Wall Street Journal. May 13, 2003. ISSN 0099-9660. Retrieved 2018-10-27.
  11. ^ So, Shermon; Westland, J. Christopher (2010-01-28). Red Wired: China's Internet revolution. London, United Kingdom: Marshall Cavendish International Asia Pte Ltd. p. 14. ISBN 9789814312271.
  12. ^ Zhang, Wenxian; Alon, Ilan (2009). Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders. Edward Elgar Publishing. p. 186. ISBN 9781848449510.
  13. ^ So, Shermon; Westland, J. Christopher (2010-01-28). Red Wired: China's Internet revolution. London, United Kingdom: Marshall Cavendish International Asia Pte Ltd. pp. 15–16. ISBN 9789814312271.
  14. ^ China Business Guide: gateway to the land of opportunities (2004 ed.). China Knowledge Press. 2004. p. 244. ISBN 9789814163002.
  15. ^ "Business Overview". Sina Corp. Retrieved 2018-10-25.
  16. ^ CIW Team (2018-08-08). "Weibo monthly active users (MAU) grew to 431 million in Q2 2018". China Internet Watch. Retrieved 2018-11-01.
  17. ^ Buckman, Rebecca; Linebaugh, Kate (2005-02-23). "Chinese Mergers Take On New Hue In Pursuit of Sina". Wall Street Journal. Retrieved 2018-10-30.
  18. ^ Watts, Jonathan (2005-03-02). "China's player looks to the big game". The Guardian. Retrieved 2018-11-11.
  19. ^ Dickie, Mure (2005-02-22). "Shanda keeps Sina game plan under wraps". Financial Times. Retrieved 2018-10-30.
  20. ^ Logan, Michael (February 23, 2005). "Sina springs poison pill on Shanda". South China Morning Post. Retrieved 2018-10-30.
  21. ^ "盛大终于被新浪"毒丸计划"击退 _TechWeb" [Cao Jian: Shanda was finally defeated by Sina’s “Poison Pill Program”]. TechWeb (in Chinese). China. 2006-11-07. Retrieved 2018-10-30.
  22. ^ 网易 (2006-05-10). "汪延离开新浪 给我们留下了什么？_网易科技" (in Chinese). Retrieved 2018-11-01 – via NetEase.
  23. ^ 网易 (2006-05-24). "汪延：反思自己曾犯过的错误_第一财经日报" [Wang Yan: Rethinking the mistakes I have made _ First Financial Daily] (in Chinese). Retrieved 2018-10-30 – via NetEase.
  24. ^ "Sina taps Charles Chao as new board chairman". China Daily. 2012-09-01. Retrieved 2018-10-27.
  25. ^ "Board of Directors". Sina Corporation. Retrieved 2018-11-03.
  26. ^ "汪延：地震中走向学校" [Wang Yan: Going to school during the earthquake]. China National Democratic Construction Association (in Chinese). 2008-07-13. Retrieved 2018-11-01.
  27. ^ "民建中央呼吁立法加强保护个人信息数据安全_互联网_科技时代_新浪网" [The Democratic National Construction Association calls for legislation to strengthen the protection of personal information and data security]. Sina.com (in Chinese). China. 2006-03-08. Retrieved 2018-11-11.
  28. ^ "提案工作--中国政协新闻网--人民网" [Civil Construction: Proposal for Formulating the Personal Information Database Protection Law]. cppcc.people.com.cn (in Chinese). 2007-12-24. Click font selection to read article. Retrieved 2018-11-11.
  29. ^ "汪延卸任新浪董事长：下一个征程是慈善公益 | 每经网" [Wang Yan retired as chairman of Sina: The next journey is charity]. www.nbd.com.cn (in Chinese). China. 2012-09-04. Retrieved 2018-10-28.
  30. ^ "扬帆计划十周年：向贫困地区孩子捐赠200万册书" [10th Anniversary of Sailing Program: Donating 2 million books to children in poverty-stricken areas]. gongyi.ifeng.com (in Chinese). China. 2016-10-12. Retrieved 2018-10-30.
  31. ^ "About the association – The Origin of SEE". SEE / Sina.com. 2004. Retrieved 2018-11-01.
  32. ^ "关于阿拉善SEE基金会 - 阿拉善SEE基金会" [About Alashan SEE Foundation]. SEE Foundation (in Chinese). China. Retrieved 2018-11-01.
  33. ^ "我国互联网知识产权领域行业自律公约发布" [China's Internet intellectual property industry self-discipline convention released]. Xinhua News Agency (in Chinese). China. 2005-08-05. Archived from the original on November 19, 2005. Retrieved 2018-11-01. 热门人物：张朝阳 汪延 王雷雷 郭凡生 (Popular figures: Zhang Chaoyang Wang Yan Wang Leilei Guo Fansheng...)
  34. ^ "Strategic Committee". France China Foundation. Retrieved 2018-11-03.
  35. ^ "Yan Wang – Asian Fellow, 2012". Ash Center for Democratic Governance and Innovation. Retrieved 2018-10-27.
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