Taomee Announces Resignation of Chief Technology Officer - ABC 8NEWS - WRIC | Richmond, Virginia News & Weather

Taomee Announces Resignation of Chief Technology Officer

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SOURCE Taomee Holdings Limited

SHANGHAI, Feb. 14, 2014 /PRNewswire/ -- Taomee Holdings Limited ("Taomee" or the "Company") (NYSE: TAOM), China's leading children's entertainment and media company, today announced that Mr. Crow Zhen Wei has stepped down from his position as chief technology officer of the Company for personal reasons, effective immediately but he will serve as an honorary consultant of the Company and remain as a member of the Company's board of directors.

Mr. Benson Haibing Wang, co-founder and chief executive officer of Taomee, commented, "Mr. Wei is my fellow co-founder and has served as our chief technology officer since our establishment. Since joining us, with his firm leadership, entrepreneurial visions and strong teamwork spirit, Mr. Wei has made significant contributions in building our Company into the leading children's entertainment and media service provider in China and providing valuable guidance to the development of our Company. His industriousness and dedication have been recognized by every member of the Company. On behalf of the entire board of directors and management team, I want to express our sincere gratitude to Mr. Wei for his dedication and commitment to Taomee over the years and wish him the best of luck in his future endeavors."

Mr. Wei commented, "It has been an honor and privilege to be a part of the Taomee management team, and I am very proud of our achievements together. I believe that Taomee has never been stronger than it is today and I wish the entire management team and Company continued success."

About Taomee Holdings Limited

Taomee Holdings Limited ("Taomee" or "the Company") is China's leader in children's entertainment and media. Its award winning content offerings are both engaging and educational, endearing it to children, as well as to parents and teachers. The Company was founded in 2007 with the mission to bring joy and inspiration to children. Its popular character franchises, including SEER and MOLE'S WORLD, are distributed online via virtual worlds, web games and mobile applications, as well as through traditional media, including animated box office films, TV series, books and consumer products, most notably interactive toys and trading cards. Its online community regularly achieves top search ranking in China, Hong Kong and Taiwan. Taomee has been consistently recognized for its leadership and innovative contributions to the children's market, including accolades from China's Ministry of Culture and the China Animation Association.

For more information, please visit: http://www.taomee.com/en_taomee.html

Safe Harbor Statements

This press release contains statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Among other things, the management's quotations and outlook information contain forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Potential risks and uncertainties include, but are not limited to: the Company's business strategies and initiatives as well as business plans; future business development, results of operations and financial condition; expected changes in revenues and certain cost or expense items; expectations with respect to increased revenue growth and the Company's ability to sustain profitability; the Company's services and products under development or planning; the Company's ability to attract users and further enhance the Company's brand recognition; and trends and competition in the children's entertainment and media market and industry, including those for online entertainment. Further information regarding these and other risks is included in Taomee's annual report on Form 20-F and other documents filed with the U.S. Securities and Exchange Commission.. All information provided in this press release is as of the date of the press release, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as required under applicable law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, the Company cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

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