Jeff Xiong, the former co-CTO of Tencent talked about going ‘from building to investing in great companies’ at the Startup Nations Summit 2014, held in Seoul, South Korea. This period matched that of the movement in Internet development in China towards the mobile Internet. In 2003, Jeff led the setup of the Microsoft MSN Development Center in Shanghai. By January 2011, there were 647.6 million active Tencent QQ IM user accounts. For the first three years, Jeff helped Tencent recruit many seasonable managers from Microsoft, Yahoo, Google and Oracle to Tencent.