NetEase, probably one of the most popular internet portals in Asia, accused Momo chief Tang Yan of stealing information and technical resources in breach of Chinese labour legislation.
NetEase also stated Tang utilized their position that is former with to award profitable agreements to his wifeu2019s business.
Momo is certainly going general public in nyc on Friday but stated it absolutely was struggling to touch upon the allegations because of guidelines on which organizations can disclose before their flotations.
The solution, which assists individuals find times with other people nearby, boasts a lot more than 180 million users.
Tang held editorial that is various at NetEase between 2003 and 2011, sooner or later increasing to editor-in-chief of its primary internet site not as much as half a year before he left to pay attention to Momo full-time.
NetEase said in a statement that Tang delivered commercial benefits which can be well worth more than a million yuan up to a Beijing advertising business started by their spouse, Zhang Sichuan conduct that provided increase to suspicion of non-governmental corruption.
During their work, Tang took benefit of their post to get different information and technical resources to simply help establish Momo, it included.
NetEase reserves the ability to just just just take action that is legal Tangu2019s misconduct during their work.
There was clearly no description why the accusations had been rising now.
Momo, which will be seeking to raise up to $232 million in its IPO, is supported by Chinau2019s biggest Web company Alibaba and 58.com, a classifieds web site.
According to appropriate laws, Momo is in a peaceful period and cannot provide interviews, Wen Yajuan, a spokeswoman when it comes to business, stated by e-mail. -AFP