Renren.com is a real name based social network with an activated user base of 178 million.
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He was limited by a no-compete clause from working on a social networking rival to Renren.
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Renren launched its local deals business last year, while Facebook just launched its own this month.
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Renren shares traded lower after hours on Tuesday following a disappointing preliminary report on Q4 results.
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Would you rather own a portfolio of LinkedIn, Pandora and Renren, or Google, Apple and Microsoft?
Renren also has a strong following among white-collar workers in their late 20s and early 30s.
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In fact, Renren has underperformed every single major China internet stock since its debut.
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Renren looks very good on paper, if Deloitte Touche Tohmatsu did their job right.
FORBES: With Ad Sales Doubling, Why is China's Renren Getting Clobbered?
Even though Renren won the battle against local rival Kaixin, the game is far from over.
Investors have eagerly snapped up shares of high profile Internet stocks LinkedIn, Yandex and Renren.
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He served as the chairman of our board of directors and chief executive officer of Renren since inception.
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The big Asian players such as RenRen, Tencent, DeNA, Gree and others are investing significantly in the US markets.
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In China, social games are the most used applications on social networking sites such as Qzone, Pengyou, and RenRen.com.
There also have been successful exits for a variety of China-based Internet companies, like the social networking site Renren.
Like Facebook, RenRen is trying to stay relevant in the fast-growing mobile space.
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Renren was created in 2002 by Qianxiang Tiancheng Technology Development Co. in Beijing.
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Of course Twitter and Facebook are in there but they also look at sites like Renren and Orkut.
The stocks of newly listed Chinese companies Renren, Youku, Dangdang and NetQin Mobile are dipping.
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Renren.com has a self-reported 160 million users and is known as the largest social network of its kind in the country.
Renren founder and Chief Executive Joseph Chen, is selling 13 million shares to take his ownership from 28% to 23%.
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Renren is the top social networking site in China, while Facebook is a leader is just about every market globally except China.
By this benchmark, Groupon scores well, just below Facebook and Renren, a Chinese social network with a listing in America (see chart).
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And instead of Facebook, they will access the Chinese social network RenRen.
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New titles are revving up, which could add more revenue to Renren.
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Chinese social media companies, including Sina, Renren and Tencent Holdings Ltd.
LinkedIn and Renren have both gone public recently, generating strong investor interest and renewing speculation of the potential for a new bubble.
One major difference of Renren from Facebook is that Renren does not make most of its revenue from advertising the way Facebook does.
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When it gets inflows from equity investors, RenRen is seen being able to take off and be the Baidu of Chinese social networking.
Dell was recently declared the No. 1 social brand according to Headstream and became the No. 1 global brand on Renren.
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By the end of 2009, Xu had left Renren and took up a post as COO at the online division of gaming company Shanda.
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