ChangYou.com (US) Inc. is a subsidiary of ChangYou.com (NASDAQ: CYOU), a leading developer and operator of online games in China. ChangYou.com began operations in 2003 as Sohu.com’s massively multi-player online games (“MMORPG”) business unit, before the carve-out as a separate, stand-alone company in December 2007 and subsequent listing on the NASDAQ Global Select Market in April 2009. ChangYou.com now operates the most popular MMORPGs in China, and has enjoyed strong growth in user data and revenues for all games.