QUOTE AND NEWS
CNNMoney.com  Mar 17  Comment 
China's Great Firewall is cracking down on Pinterest, the social media platform popular for letting users share, or pin, items of interest to a virtual board.
Motley Fool  Mar 2  Comment 
Why did investors abandon social network Renren and data center company 21Vianet?
Motley Fool  Feb 7  Comment 
The Chinese social media site got crushed last year -- even though its addressable market is booming and its rivals are thriving.
SeekingAlpha  Dec 16  Comment 
Motley Fool  Oct 12  Comment 
The Chinese social-media company bounced on plans for a spinoff.
Motley Fool  Oct 10  Comment 
The company once hyped as "the Facebook of China" is trying to spin off its live streaming hub. The scenario sounds familiar.
Motley Fool  Oct 4  Comment 
The Chinese social media leader is spinning off pieces of its business into a new, privately-held subsidiary.
Motley Fool  Sep 30  Comment 
These stocks helped lead the market higher. Find out why.
SeekingAlpha  Aug 16  Comment 




 
TOP CONTRIBUTORS

Renren Inc (NYSE:RENN) (人人, "Everyone") is the largest real name social network in China in terms of page views and total user time spent on the site. The company operates a platform on which users can play games, listen to music, shop and purchase, along with interact with other users. Renren makes money through online advertising and value-added services. These value-added services consist of fees to merchants who offer their products or services on Renren or its affiliated platforms. [1]

Renren's continued growth is based heavily on the growth of the middle class in China and the resulting increase in internet usage in China. In particular, Renren has had a focus on college aged Chinese students who have heavily adopted the internet and use the site to maintain social connections. Renren hopes that the continued economic growth and internet penetration will cause their usage to rise.[2]

The company's initial public offering of stock on the NYSE occurred on May 3, 2011. The company offered 53.1M shares each for $14. This was at the high end of the $12-$14 initial price range. The company had originally planned to sell between the range of $9-$11. This offering raised a total of $114M. The lead managers of the IPO were Morgan Stanley (MS), Deutsche Bank AG (DB), and Credit Suisse Group (CS).[3]

For the full year 2010, Renren announced a total revenue of $76.M. This was an increase from the $46.7M in 2009. The company also announced a net loss of $64M. This was an improvement from the net loss of 2009 of $70M. [4]

References

  1. RENN F-1/A 2011 PROSPECTUS SUMMARY "Overview" pg 1
  2. RENN F-1/A 2011 PROSPECTUS SUMMARY "Our Industry" pg 1
  3. Renaissance Capital - IPO Home "Renren prices IPO at $14, high end of revised range" 4 May 2011
  4. RENN F-1/A 2011 PROSPECTUS SUMMARY "SUMMARY CONSOLIDATED FINANCIAL DATA" pg 11
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