Monday, April 18, 2011

China Facebook, files for IPO Renren

NEW YORK - Renren, the largest social services network in China U. S. IPO funds Friday came in monetary expansion. Facebook has called the plans to separate from China for $ 9 to $ 11 for the sale of the Securities and Exchange Commission Renren.

Renren said in a statement that the head of the social networking site, as measured by total page views, number of visits and total time spent with on its website in February. Renren iResearch data cited. Business Platform - A site for online gaming, social networking site for business and professional - has enabled more than 117 million users, 31 March 2011.

Renren said he intends to use IPO funds for its development and expand trade. E 'in the New York Stock Exchange under the symbol of trade, variety. China hot stocks on the Internet for the U.S. market in recent months. In December, the shares Dangdang (Dang) and Youku (Yoku) - Amazon and China and YouTube - rose after its U.S. debut.

Experts say that may rival even Renren Kaixin001 U.S. public to go this year. Meanwhile, Baidu (BIDU), China's top online search in China, today announced the stars of the results - such as the Internet company (Sohu).

Stateside tech IPO market, signs of thaw. LinkedIn, in January, while demand for public media in the same month. Pandora has asked the stock exchange in February. An online company Zillow in public buildings presented on Monday. But everyone is waiting for Facebook - and the golden boy did not have much interest in a public offering as soon as possible.

However, social networks, said that this year will offer the public budget in April 2012. This step coincides with the IPO, as the laws are forcing Facebook pages. If companies have more than 499 shareholders, who are required to report its financial results and file quarterly reports with the SEC. Facebook has announced that 500 shareholders of drilling this year.
Source - CNNMoney

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