The Renren Network (Chinese: "everyone network"), formerly known as Xiaonei Network (Chinese: "on-campus network") is a Chinese social networking site that is a copy of Facebook. It is popular among college students in China. In Feb 2011, Renren had "a total of 31 million active monthly users."
Renren is expected to IPO on May 4, 2011. This could well be the offering of the year. The company increased the proposed price range of its offering and will likely raise close to $700m at a $5 billion or higher valuation this week. Renren’s Q2 2010 revenue was $19.8m, Q3 2010 was $21.8m, Q4 2010 was $20.9m and Q1 2011 was $20.6m. |
