Wang Xing

After leaving the University of Delaware, Wang returned to China to launch his business career. In his first technology startup, Wang along with a couple of friends, tried to create a Chinese version of the then-social networking site Friendster.^[6] His first such site was called Duoduoyou (兜兜友; lit. 'Pocket–Pocket Friends'), targeting students in various Chinese universities. After Duoduoyou failed to take off, he started Youzitu (游子图; lit. 'Traveller's Map') to serve Chinese students abroad but the site eventually ceased operation.^[2]

In 2005, Wang created a Chinese version of Facebook called Xiaonei (校内网; lit. 'Inside-Campus Net'). The site was a hit but Wang had to sell it off due to financial problems. The new owners re-branded the site, renamed Renren (人人网; lit. 'People–People Net').^[6]

In 2007, Wang created a Chinese version of Twitter called Fanfou (饭否; lit. 'Dinner or Not').^[6] It was China's first big microblogging site but was soon shut down by the government over politically sensitive content. It was eventually permitted to reopen but by then, other Chinese microblogging sites like Sina Weibo and Tencent Weibo had entered the market and captured substantial market share.^[7]

In 2010, Wang established the Chinese group-buying site Meituan, which was based on the business model of Groupon.^[6] Meituan was hugely successful and merged with Dianping in 2015.^[8]

On 3 May 2021, Wang posted a Tang Dynasty (618–907 AD) poem about book burning on Fanfou, a social media platform owned by himself. The action was reported by Quartz News as a veiled swipe against the general secretaryship of Xi Jinping's clampdown on civil society, intellectual and academic freedom since ascension to office. The poem, entitled "Book Burning Pit," speaks about the late emperor Qin Shi Huang's practice of beheading scholars and burning books, only to be overthrown by illiterate rebels later during his reign.^[9]

As a result of the post, Meituan's shares plunged 7.1% on the same day, wiping $36.98 billion from the company's market cap over the subsequent weeks.^[10] The firm also subsequently came under scrutiny from the Beijing Municipal Human Resources and Social Security Bureau and became the target of an anti-monopoly investigation from the State Administration of Market Regulation, reported by Bloomberg News as political reaction for Wang's post.^[11]