Top 10 disappointing IT CEOs of 2011
- By Lu Na
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E-mail China.org.cn, February 20, 2012
Yao Jinbo (CEO of 58 City)
Votes: 2237
Excellent advertising of 58 City didn't give consumers a more favorable impression of the company. In September of 2011, 58 City was exposed that some fraudulent recruitment advertisements had been pushed to the top of website after companies had paid certain fees. In November, a Weibo user said that 58 City didn't live up to its promises of paying life insurance, medical insurance, unemployment insurance, employment injury insurance as well as profit sharing to employees. Many employees protested by resigning. The company's dishonest behavior will likely damp its hopes for an IPO. It is said that 58 City has submitted the listing application in June and would land in the America capital market. But there been has no further news.
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