Renren Partners with Recruit to Launch Social Wedding Services
BEIJING, June 7, 2011 /PRNewswire via COMTEX/ -- Renren Inc. (RENN) ("Renren"),
the leading real name social networking internet platform in China, and Recruit
Co., Ltd. ("Recruit"), Japan's largest HR and classified media group, today
jointly announced an agreement to form a joint venture to build a wedding social
media that caters to the needs of engaged couples and newlyweds in China. The
joint venture will launch a multimedia platform that fully integrates online
wedding related social content and offline media, such as magazine and wedding
exhibitions.
The new website is scheduled to be officially launched this winter and will aim
to becoming a leading wedding online media in the Chinese market.
The Zexy magazine and wedding exhibitions, which are operated by Recruit's three
wholly-owned subsidiaries in China (Shanghai Recruit Advertising Co., Ltd.,
Beijing Recruit Advertising Co., Ltd. and Guangzhou Recruit Advertising Co.,
Ltd.), will participate in the joint venture. Zexy is one of the first bridal
information media in China, having accumulated a stable client base, industry
know-how and strong brand recognition in the bridal market in China over the
years.
Mr. Joseph Chen, Chairman and Chief Executive Officer of Renren, said, "We are
very pleased to partner with Recruit on this exciting business opportunity. We
are contributing to one of the most precious stages of people's lives by helping
them with the planning and information gathering for their weddings. Already
today, a very visible part of the user generated content on Renren.com is related
to weddings and honeymoons. As we continue to expand the number of white collar
users, we believe our partnerships with various industry leaders such as Recruit
will significantly enhance our services catered to this key demographic. We look
forward to a happy relationship with Recruit in this 'business of happiness'."
Mr. Patrick Tham, Chairman of the above three subsidiaries of Recruit, said, "We
are very impressed with Renren's leadership in China's social networking
industry. Wedding is a life-stage event on which Chinese people place significant
emphasis, and we believe our partnership will combine Renren's strength in social
networking with Recruit's strength in the wedding business to enable more Chinese
couples to plan and enjoy happy weddings."
About Renren Inc.
Renren Inc. (RENN) operates the leading real name social networking internet
platform in China. It enables users to connect and communicate with each other,
share information and user generated content, play online games, listen to music,
shop for deals and enjoy a wide range of other features and services. Renren's
platform includes the main social networking website Renren.com, the online games
center game.Renren.com, the social commerce website nuomi.com, and the newly
launched professional and business social networking service website jingwei.com.
It had approximately 117 million activated users as of March 31, 2011.
About Recruit
Founded in 1960, Recruit is Japan's largest vertical-focused classified media
group and fully integrated HR service provider. Its serviced industry includes
bridal, housing, cars, travel, education, restaurant and beauty, etc. A $9.4
billion consolidated revenue private company. Recruit set its footprint in China
market back in 2004 and has been operating bridal, restaurant and beauty coupon,
HR, and travel businesses in Shanghai, Beijing, Guangzhou, and Shenzhen. Recruit
is also the largest shareholder in 51job, Inc. |
