The Chinese social network RenRen entered into Exchange, Wednesday, May 4, New York, in a transaction to 743.4 million dollars (498.26 million euros), marked by a jump from the opening. Quoted securities in New York of Chinese society were put on sale for $ 14, while April 15, she had advanced a range of 9 to 11 dollars.
Ten minutes after the opening, the action already jumped 42.86% to $ 20. THE SOCIAL NETWORK IN CHINA'S MOST POPULAR RenRen, whose name means "all Tech News Buzz" in Chinese, was founded in 2005, a year after Facebook. This is the most popular social network in China, especially as its U.S.
rival is blocked by government censorship. RenRen said its turnover had risen to 20.5 million (13.74 million euros) during the first quarter of the year, up more than 46% over one year to a net loss of $ 2.6 million (1.7 million), much reduced over the year. Since December, the video sharing site Chinese Yoku is also listed on the New York Stock Exchange.
Also read: "Facebook face of Chinese social networks" 
Ten minutes after the opening, the action already jumped 42.86% to $ 20. THE SOCIAL NETWORK IN CHINA'S MOST POPULAR RenRen, whose name means "all Tech News Buzz" in Chinese, was founded in 2005, a year after Facebook. This is the most popular social network in China, especially as its U.S.
rival is blocked by government censorship. RenRen said its turnover had risen to 20.5 million (13.74 million euros) during the first quarter of the year, up more than 46% over one year to a net loss of $ 2.6 million (1.7 million), much reduced over the year. Since December, the video sharing site Chinese Yoku is also listed on the New York Stock Exchange.
Also read: "Facebook face of Chinese social networks"
- IPO Watch: Renren Prices, Issues Be Damned! (RENN) (04/05/2011)
- China Social Network 'RenRen' To Launch IPO (03/05/2011)
- Renren Audit-Panel Head Resigns as IPO Nears [Voices] (03/05/2011)
- Chinese Social Network Renren Prices $743M IPO AT $14 Per Share, At High End Of Range (04/05/2011)
- China's Facebook, Renren, Faces Stiff Competition (04/05/2011)
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