Kai-Fu Lee, Google’s ex head of China Operations, has said he’s
funding a dozen start ups with his new company, Innovation Works, in a
bid to tap into China’s ‘booming internet market.’
CIO reported he said the nation’s mobile market is ‘beginning to
really take off. Everyone is starting out, figuring out how things
will go. That’s exactly the right time when we want to get engaged.’
Lee believes that mobile internet users may more than double within
five years as smartphones that can browse the web and download music
become more affordable. Bloomberg also quoted Lee as claiming that the
number of people accessing the Internet on their mobile devices in
China may grow to 800 million within three to five years, from about
300 million now.
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