Professional networking site, LinkedIn, announced this week that it hired former CEO of a group buying site called Nuomi.
Shen Boyang (Derek Shen) will be the company's first Chinese chief. The hire is widely seen as a preparatory step for LinkedIn's eventual entry in the Chinese market. Shen will be based in Beijing and will concurrently hold title of president of Chinese operations and vice-president of LinkedIn.
LinkedIn is one of the only international social networking websites currently not blocked in China. The site already has an estimated 4 million members. While the site has not officially announced when it will launch in China, it has been studying the mainland market for a number of years and analysts think the time is right to enter the market. While there are a number domestic sites similar to LinkedIn already operating in China, none are as large nor as internationally connected as LinkedIn and none have managed to gain control of the market.
Shen, who had worked for Google in China from 2005 to 2010, joined Chinese social networking service Renren in February 2010 as vice-president and was put in charge of the Renren subsidiary Nuomi in March 2010.
According to a spokesman for LinkedIn, Shen's China experience was key to his hiring. "Derek's extensive experience in the China Internet space positions him well to lead our efforts to explore what makes the most sense for LinkedIn," said the spokesman.
LinkedIn will draw on Shen's experience to tailor their offerings for the Chinese market. "With such a wide range of features and services available on the site," the spokesman said " we're focused on getting it right for our members and clients."
Nuomi was acquired last August by web search giant Baidu who paid US$ 160 million for a 59% majority stake. Shen resigned from position as Nuomi CEO last December.