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All posts tagged "Renren"

  • Twitter’s IPO could seriously affect Sina Weibo: here’s how

    Sina investors are keeping a watchful eye on the news about Twitter‘s IPO. Despite the Chinese web giant’s more diverse portfolio of products and services, many market analysts believe the majority of Sina’s market cap lies in its Twitter-like Sina Weibo social network. Thinking that the clone will mirror the original, Twitter’s value is inherently tied to Sina’s. On 12 September, the day Twitter submitted the paperwork, Sina’s stock price shot to a 52-week high of almost US$88 per share, and remains close to that now. It’s not the first time Twitter’s calculated worth has had an effect on Sina....

  • The story behind Renren: China’s biggest Facebook-ish social network

    Renren, China’s largest Facebook-ish social network (as opposed to the Twitter-ish weibos), has a long and complex history which probably not more than a handful of people have heard about in detail. I was lucky enough to have the chance to meet Zany Zeng, the co-founder of NYSE-listed Renren.com and current co-founder of Youlu, to dig deep and document the story behind Renren. To understand the full journey, you have to go way back to May 1999 when Chinaren.com was founded – arguably the first college-focused online social network in China, way before even Facebook and Friendster started. Chinaren was founded...

  • Why Renren’s mobile and ecommerce pivot might just make sense

    It looks like Chinese social networking giant Renren is about to shift its business model in a big way. The Facebook clone is now looking to take on the mobile and ecommerce spaces. It might seem like an odd move, but it could well make a lot of sense. According to The Wall Street Journal, Renren has been battling to compete with China's microblogs (known as weibos) from Tencent and Sina. It hasn't been doing particularly well when it comes to advertising either, largely because of a reluctance on the part of advertisers to spend on social networks. That's...

  • China’s Renren signs deal with Japanese mobile gaming company DeNa

    Chinese Facebook clone Renren and Japanese mobile gaming company DeNa have signed a deal in what seems to be a bid by the latter to increase its presence on Chinese mobile devices. Under the terms of the deal Renen will feature a number DeNa titles on its mobile app for Android. In fact, the Japanese gaming manufacturer will have its own dedicated section in the app. Users can download games from the...

  • Is China really set for an online advertising boom?

    China’s has the largest online population on the planet, over 500-million people by most estimates. Add in 300-million people with accounts on its various microblogging sites (called weibos) and you can see why advertisers might be clamouring to go online. That drive for online advertising is only being fuelled by the fact that authorities are placing restrictions on broadcast advertising. According to online research company eMarketer, the Chinese government is making it...

  • China’s Todou sees shares tumble on Wall Street debut

    One of China's largest online video companies has seen its shares fall sharply in the wake of its Wall Street debut. Shares in the Shanghai-based Todou, which raised US$174-million with its US initial public offering, were priced at US$29.00 on the Nasdaq Stock Market and closed at US$25.56, a loss of 11.86 percent on the day. Trading under the ticker symbol "TUDO", the company has a market capitalisation of US$867 million at...

  • 12 emerging market startups to watch

    Emerging market startups are coming into their own and increasingly appearing on the radar of mainstream venture capitalists in established markets. Skype recently announced its interest in investing in Chinese startups. The VoIP service is not the only player seeking a slice of the emerging markets pie - the list of startups grows everyday. Here are 12 of the many companies staking their claim in up and coming emerging markets: DianDian, China DianDian which means "bit by bit" was founded by Chinese business man Jack Xu. Prior to starting this venture, he was managing RenRen and Kaixin, two Chinese Facebook clones,...

  • Renren’s Wall Street debut off to a soaring start

    China's biggest social network, Renren, made its debut on the New York Stock Exchange on Wednesday. The company's shares soared raising $743.4 million through the sale of 53.1 million American Depositary Shares. Renren is trading on Wall Street under the symbol "RENN". The Beijing-based company seen as China's answer to Facebook initially priced the shares at between US$9 and US$11 but later raised the price to US$14. Renren shares soared as high as US$24...

  • Chinese social network IPO hopes to raise $583-million

    China's most popular social network Renren filed for an initial public offering in the United States on Friday in the hopes of raising as much as US$583-million. Renren, in papers filed with the US Securities and Exchange Commission (SEC), said it plans to list on the New York Stock Exchange under the symbol RENN. It said it will issue 53.1-million American Depositary Shares priced between US$9 and US$11 a share. In the papers filed with...

  • The current state of social networking: Winners and losers [Infographic]

    Social networking has been the "in thing" since 2006 when the rest of the world discovered Facebook. The social networking giant is without a doubt king of the social networking royal court with more than 600-million users. This royal court also consists of other social networks some you might not have heard. It appears social networking peaked in 2009 and dropped slightly in 2010. Usage in 2011 has been steady with more users flocking to Tumblr, Chinese microblogging site Weibo, Reddit, Stumbleupon and LinkedIn. At the same time it is unsurprising to note that MySpace and Hi5 usage have...

  • China social networks: Expat foreigners, cool girls and hipsters

    Facebook holds sway as the default social network in many parts of the world across all internet demographics. In China, where Facebook is blocked, a handful of homegrown social networks attract segmented audiences, ranging from upmarket urban youth to university students and migrant workers. While the world’s big focus these days is on Renren preparing to go public, these other networks deserve a look: Douban -- a more specialised social networking site, attracts art...

  • Social media in China: The same, but different

    Much has been written of late about the Chinese government’s efforts to control and censor the internet. The government’s censorship of websites is an important issue, but it is not the top priority of the country’s 420-million internet users (netizens). Their top priority? Connecting with other Chinese online. The internet has opened access to information for ordinary Chinese citizens in ways that were unimaginable just a few years ago. Coming from a world where information was pre-filtered by editors at state-run media, China’s internet is freewheeling by comparison. Quick Glance Chinese internet users are actively engaging in social media—especially home-grown social...

  • Chinese social media’s US$500-million Renren offer to investors

    China's Renren, which launched as a Facebook clone, is eyeing a US listing that could make it the first social networking site to go public, a report on Monday revealed. Renren, which currently has 150 million registered users, is the biggest social network service in China. Renren is owned by Oak Pacific Interactive who plan to raise about $500 million in an initial public offering managed by Deutsche Bank, among others, the Financial Times reported, citing two unnamed people close to the situation. Officials from the company were not immediately available for comment. The Chinese site, whose name means "everyone" and...