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Former UTStarcom CEO Invests $3m in B2B Site
CTC Capital partner and former telecom equipment manufacturer UTStarcom Inc. (Nasdaq:UTSI) CEO President and CEO Wu Ying has invested more than $3 million in Shanghai business-to-business (B2B) e-commerce site mymyti.com, National Business Daily reported November 6. Mymyti,com CEO Zhan Songlin said the site is the first B2B e-commerce site to receive financing from CTC Capital, according to the report.
The site generated more than RMB 10 million in sales revenues last year, the report disclosed.
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