Shi Yuzhu and Giant Group - Best Blogs Asia
Story of a Chinese entrepreneur who bounced back from bankruptcy to be one of the richest in China.
Interesting story of a web / software entrepreneur who went bankrupt then came back richer than ever. He also was based in Zhuhai, China where I am currently so I have a personal interest in this story.
About Shi Yuzhu
Shi has an engineering background, was an inventor and created software and later setup his Giant Group company. Bankruptcy came about from large investments in a company building from Zhuhai to Shenzhen. He then made his money back from making healthcare products and creating China’s third-largest online games company, Zhengtu.
Shi was ranked no. 24 with a net worth of 16.75 billion Chinese Yuan (approximately US$2.4 billion).
About Giant Interactive Group
Giant Interactive are one of China’s leading online game developers and operators in terms of revenues, focusing on massively multiplayer online role playing games (“MMORPG”) for personal computers. The Chinese online role-playing game developer caters to the masses, creating massively multiplayer online (MMO) games, played by tens of thousands of players through networked game servers. Its first internally developed game, ZT Online, was launched in 2006. The company has more than 140 game developers, and its prepaid game cards and game points are sold in more than 116,000 retail locations, such as bookstores, Internet cafes, and software stores.
Giant also co-operates with Alipay run by Alibaba, one of China’s biggest independent third-party Internet payment platforms to enhance their online payment system.
Giant also own a percentage of Chinese online social networking site 51.com.
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