Rumor: Shanda CEO Explains Vision for Ku6
Netease Tech, 3/14/11
According to an industry insider, Chen Tianqiao, CEO of Chinese online media provider and online game operator Shanda Interactive (Nasdaq: SNDA), met with the senior management of online video subsidiary Ku6 (Nasdaq: KUTV) following the announcement of founder and now-former CEO Kevin Li's resignation to articulate his perspective on the online video industry and pledge Shanda's continued financial support.
Chen dismissed rumors that there was a schism between himself and Li as to whether Ku6 should focus on long-form content or news content or that the conflict played a part in Li's departure, and that instead it was part of a normal restructuring process.
Chen said that Ku6 must adapt to a changing external environment, meeting user needs with a differentiated product and focusing on user-generated content (UGC), arguing that user creativity and feedback will be a driving force in the future of online broadcasting. Chen called for Ku6 to transition from a company that "broadcasts its own point-of-view" to one that "broadcasts every user's point-of-view."
Editor's Note: For more background on this topic, please see "Rumor: Ku6 Management Divided Over Business Model" MD 3/11/11 issue.
Keywords: corporate restructuring Shanda Chen Tianqiao Kevin Li Internet online video Ku6 SNDA business model UGC KUTV HR
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