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In late 2015, Lu drove a $88M USD investment into ] at $2.1B valuation and sat on the board of the company. In 2021, ] went public in HK Stock Exchange and the investment delivered $4.9B in profit (approximately 56 times return).<ref>{{cite news|title=快手融资故事：还原 2021 年中国互联网第一场资本盛宴|date=Feb 10, 2021|url=https://www.latepost.com/news/dj_detail?id=524|newspaper=晚点Late Post}}</ref> In late 2015, Lu drove a $88M USD investment into ] at $2.1B valuation and sat on the board of the company. In 2021, ] went public in HK Stock Exchange and the investment delivered $4.9B in profit (approximately 56 times return).<ref>{{cite news|title=快手融资故事：还原 2021 年中国互联网第一场资本盛宴|date=Feb 10, 2021|url=https://www.latepost.com/news/dj_detail?id=524|newspaper=晚点Late Post}}</ref>

In 2018, Lu invested 300million RMB in to a P2P investing platform called Aiqianbang, and acted as CEO of the company for only 16 days. During his 16days' work, he used his personal reputation and aroused a huge amount of money to the platform, which led to a fraud of massive investors. He rejected to take the responsibility of the investors' loss and escaped from China to US immediately. Because of his good relation with Chinese authorities, for him personally there were no consequences, and all the investors are still waiting for the solution of the police but with his disappearance. <ref>{{Cite web |title=前百度高管遭资本玩家骗局？爱钱帮16天易主清盘闹剧 |url=https://www.sohu.com/a/www.sohu.com/a/242586097_100011510 |access-date=2022-06-30 |website=www.sohu.com |language=en}}</ref>


In 2020, Lu was a lead investor in the over $600 million acquisition of ] from Beijing Kunlun Tech Co.<ref>{{cite news|title=U.S. Approves Sale of Dating App Whose Owners Were Probed by National Security Officials|first=Katy|last=Stech Ferek|date=May 29, 2020|access-date=August 8, 2020|url=https://www.wsj.com/articles/u-s-approves-sale-of-chinese-dating-app-probed-by-national-security-officials-11590782922|newspaper=]}}</ref><ref>{{cite news|title=Grindr's Chinese Owner Sells Gay Dating App Over U.S. Privacy Concerns For $600 Million|first=Kori|last=Hale|date=March 26, 2020|access-date=August 8, 2020|url=https://www.forbes.com/sites/korihale/2020/03/26/grindrs-chinese-owner-sells-gay-dating-app-over-us-privacy-concerns-for-600-million/|work=]}}</ref> This transaction came about as a result of the decision by ] to compel the owner of Grindr, a Shenzhen-listed Chinese company, to sell the company to US interests.<ref>{{cite news|title=Why is the U.S. forcing a Chinese company to sell the gay dating app Grindr?|date = April 3, 2019|access-date=August 8, 2020|first1=Sarah|last1=Bauerle Danzman|first2=Geoffrey|last2=Gertz|url=https://www.washingtonpost.com/politics/2019/04/03/why-is-us-is-forcing-chinese-company-sell-gay-dating-app-grindr/|newspaper=]}}</ref> In 2020, Lu was a lead investor in the over $600 million acquisition of ] from Beijing Kunlun Tech Co.<ref>{{cite news|title=U.S. Approves Sale of Dating App Whose Owners Were Probed by National Security Officials|first=Katy|last=Stech Ferek|date=May 29, 2020|access-date=August 8, 2020|url=https://www.wsj.com/articles/u-s-approves-sale-of-chinese-dating-app-probed-by-national-security-officials-11590782922|newspaper=]}}</ref><ref>{{cite news|title=Grindr's Chinese Owner Sells Gay Dating App Over U.S. Privacy Concerns For $600 Million|first=Kori|last=Hale|date=March 26, 2020|access-date=August 8, 2020|url=https://www.forbes.com/sites/korihale/2020/03/26/grindrs-chinese-owner-sells-gay-dating-app-over-us-privacy-concerns-for-600-million/|work=]}}</ref> This transaction came about as a result of the decision by ] to compel the owner of Grindr, a Shenzhen-listed Chinese company, to sell the company to US interests.<ref>{{cite news|title=Why is the U.S. forcing a Chinese company to sell the gay dating app Grindr?|date = April 3, 2019|access-date=August 8, 2020|first1=Sarah|last1=Bauerle Danzman|first2=Geoffrey|last2=Gertz|url=https://www.washingtonpost.com/politics/2019/04/03/why-is-us-is-forcing-chinese-company-sell-gay-dating-app-grindr/|newspaper=]}}</ref>

Revision as of 21:10, 4 September 2022

American Internet entrepreneur
James F Lu
Lu at Asian Leadership Conference 2019
NationalityAmerican
EducationUniversity of Michigan
Bachelor of Science
Master of Science
Known forFounding Team of Chegg
Chairman of Grindr
GM of Amazon Marketing Services (later renamed to Amazon Advertising)
CEO of Aiqianbang for 16 days
Websitewww.jamesflu.com

James Fu Bin Lu is an American Internet entrepreneur. He has been a serial entrepreneur and senior corporate executive in Amazon and Baidu. He has served as the chairman of Grindr since 2020 and leading investor to a number of high-profile technology companies globally.

Biography

Lu received master's degrees in electrical engineering and computer science from the University of Michigan (graduating summa cum laude) and worked as an engineer for NASA's Jet Propulsion Laboratory, developing software for the Mars rover.

Lu was a founder of textbook rental company Chegg and social network Yoolin, serving as its CEO. Yoolin was acquired by zhanzuo.com in 2007.

After serving as the Global Head of Amazon Marketing Services (now known as Amazon Advertising), Lu was hired in June, 2015 by Baidu as vice president of content ecosystems. Lu left Baidu in 2017.

In late 2015, Lu drove a $88M USD investment into Kuaishou at $2.1B valuation and sat on the board of the company. In 2021, Kuaishou went public in HK Stock Exchange and the investment delivered $4.9B in profit (approximately 56 times return).

In 2018, Lu invested 300million RMB in to a P2P investing platform called Aiqianbang, and acted as CEO of the company for only 16 days. During his 16days' work, he used his personal reputation and aroused a huge amount of money to the platform, which led to a fraud of massive investors. He rejected to take the responsibility of the investors' loss and escaped from China to US immediately. Because of his good relation with Chinese authorities, for him personally there were no consequences, and all the investors are still waiting for the solution of the police but with his disappearance.

In 2020, Lu was a lead investor in the over $600 million acquisition of Grindr from Beijing Kunlun Tech Co. This transaction came about as a result of the decision by CFIUS to compel the owner of Grindr, a Shenzhen-listed Chinese company, to sell the company to US interests.

In 2021, Lu led a controlling acquisition of Investing.com from its founder and served as a director of the board.

In Feb 2022, Lu was the leading investor in the acquisition of Coins.ph from GoTo and serving as a board member.

References

  1. "Baidu bids goodbye to VP James Lu, latest in string of executive losses". Tech Wire Asia. May 31, 2017. Retrieved March 6, 2020.
  2. "陆复斌成百度贴吧新掌门 曾是NASA软件工程师". techweb.com.cn. June 25, 2015. Retrieved March 6, 2020.
  3. "陆复斌成百度贴吧新掌门 曾是NASA软件工程师". Tencent Technology News. June 25, 2015. Retrieved March 6, 2020.
  4. Ahn Sang-hee (May 15, 2019). "바이두 前 부사장 "열정보다 성장잠재력이 성공 키워드"". Chosun Ilbo. Retrieved March 6, 2020.
  5. "Roundup". VentureBeat. August 6, 2007. Retrieved March 6, 2020.
  6. "快手融资故事：还原 2021 年中国互联网第一场资本盛宴". 晚点Late Post. Feb 10, 2021.
  7. "前百度高管遭资本玩家骗局？爱钱帮16天易主清盘闹剧". www.sohu.com. Retrieved 2022-06-30.
  8. Stech Ferek, Katy (May 29, 2020). "U.S. Approves Sale of Dating App Whose Owners Were Probed by National Security Officials". Wall Street Journal. Retrieved August 8, 2020.
  9. Hale, Kori (March 26, 2020). "Grindr's Chinese Owner Sells Gay Dating App Over U.S. Privacy Concerns For $600 Million". Forbes. Retrieved August 8, 2020.
  10. Bauerle Danzman, Sarah; Gertz, Geoffrey (April 3, 2019). "Why is the U.S. forcing a Chinese company to sell the gay dating app Grindr?". Washington Post. Retrieved August 8, 2020.
  11. "East Asian fund buys Investing.com for $500m". Globes, Israel business news. April 22, 2021.
  12. "Joffre Capital finalizes acquisition of Coins.ph". Manila Standard. 2022-04-12. Retrieved 2022-04-18.


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