Tencent Appoints New VP For E-commerce Business

Chinese Internet company Tencent sent an internal email to announce that Bu Guangqi, chief executive officer of Yixun.com, has been appointed new vice president of Tencent.

Bu will report to Wu Xiaoguang, chief executive officer of Tencent E-Commerce Holding Company. Bu’s goal will be to lead the building and development of Tencent’s e-commerce self-branded business.

Tencent said in the internal email that Bu led the founding of Yixun.com and served as chief executive officer of this e-commerce platform. During the development of Yixun.com, Bu established its supply chain and logistics capacities, which enabled its fast growth and built good user reputation.

After Tencent’s strategic investment in Yixun.com, Bu led the company’s regional and city logistics centers distribution and completed the establishment of a nationwide supply chain system, while maintaining good customer experience and logistics services.

Public files showed that Yixun.com was founded in 2006 and it received investment from Tencent in 2010. During Tencent’s e-commerce strategic layout, which combines its own operations and open platform, Yixun.com focuses on the building of its own operation reputation and infrastructure construction such as warehousing and logistics.

According to statistics provided by the company, Yixun.com realized order value of CNY6.8 billion in 2012, and the company aims at sales of between CNY12 billion and CNY15 billion in 2013.