(Yicai Global) Aug. 23 -- He Xiaopeng, co-founder and president of UCWeb Inc., which developed UC Browser, has decided to step down.

He, 40, founded UCWeb in 2004 and with his team developed UC Browser, a popular third-party mobile web browser that aims to speed up page loading for users. As of last year, it had over 400 million monthly active users.

Chinese e-commerce giant Alibaba Group Holding Ltd. [NYSE:BABA] took over UCWeb in June 2014, in what was the biggest merger China's internet industry had ever witnessed.

Yu Yongfu, chairman of Alibaba Culture & Entertainment Group, confirmed He's departure in an internal email, saying he will step down to "embark on a new journey and pursue his dreams."

The UCWeb president himself also said on social media he will look to do something different in the future.