In September 1999, Linktone was founded as a developer of a text messaging application and content for the market of China. In April 2001, it was transformed into an independent business from just a unit of a wireless technology company, Intrinsic China Technology Ltd., located in Shanghai. However, Linktone succeeded to mark a growth in its revenue within two years in the market, but it was not as expected while the competition had also increased. In 2003, Raymond Yang appointed as a new CEO at Linkton who already had a proven track record as a businessman and entrepreneur in both the China and Silicon Valley, California. He utilized his past experience of Silicon Valley and brought notion to the business, develop a network of national sales to integrate with local service provider offices, and brought the content providers from several different regions, including Japan, Western, and China. At the time, the Chinese mobile telecommunication industry was at the peak of growth and there was a popularity of strategic acquisition. The new CEO was contemplating the possibility of turning Linkton into public on the NASDAQ, and he also received an acquisition offer from a NASDAQ-traded Chinese service provider, China.com.
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