RenRen.com
人人网，中国最真实、最有效的社交平台，加入人人网，找回老朋友，结交新朋友。
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At the end of 2010, Statistics from the China Internet Network Information Center showed that 457 million people in China used the Internet. Of those users, just about 50% of them indicated that they also use social-networking websites. As of March 31, Renren had 117 million users.
On its first trading day, China's largest social-networking website, Renren raised a remarkable $743.4 million in its U.S. initial public offering. At the $14 rate, Renren is valued at 72 times what they made the previous year.
Renren, the first social-networking site to go public in the U.S., plans to expand. Two of the biggest competitors will be Sina Corp. and Tencent Holdings Ltd. (TCEHY).
Michael Yoshikami advises investors need to be careful: if these types of companies do not act on the ambitious expectations and execute them sufficiently, investors could be unpleasantly surprised.
Maybe yes, maybe no. Either way, there is no doubt about it- the growth emerging from Chinese Internet companies in unprecedented, certainly something no one has really seen before.
~ Posted by Brittany Stepniak - Thursday, May 5th, 2011
http://www.wealthwire.com/news/finance/1105
