The early press seemed calculated to keep the pps down..for whatever reason..eg..
Headline "Renren Seeks Double Facebook’s Valuation"
"Renren may have a market value of $5.1 billion, based on the $13 midpoint"
"Facebook, which is banned in China, said in January it had a market valuation of $50 billion "
"Renren, whose name means “everyone” in Chinese, had 117 million users as of March 31, less than a quarter of the more than 500 million users Facebook has globally."
....................
So, Renren has < 1/4 the users (could be much less, who knows), and market cap was 1/10th that of Facebook ...
Interesting that they said Renren was double Facebook's valuation...then they went on to prove that it wasn't..lol...*valuation* certainly wasn't based on market cap...made for an interesting headline, however.
Well, they have a significant war chest now, and the CEO is fixed for life.
Let the long-short games begin.
Best,
S. |
