A surprising number of the top tech startups in China were founded by former employees of the online news service of Chinese internet company NetEase. By contrast, those founded by NetEase alumni have little to do with the core functions of NetEase, such as e-mail, online news and gaming. Financial social media Xueqiu (or ‘Snowball’) is one of the most popular social media for financial professionals and stock investors. Momo co-founders include Li Yong, former editor-in-chief and vice president at NetEase, who also founded online education startup Beijing Jingguanyu Technology. *Local media jokingly call NetEase “the best startup incubator”, but NetEase doesn’t seem to be amused.