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Renren IPO Pegged at $743 Million
Posted By Dave Smith On May 4, 2011 @ 4:33 pm In Blogging and Social Media,Internet and Online Business | 1 Comment
While the company may be on the other side of the globe, everyone is watching China’s Renren, the first major social networking site to go public in this current climate. Renren has priced its initial public offering at $14 per share, with a total offering size of $743 million, according to TechCrunch .
However, Renren’s IPO is only a slight indication of what a Facebook IPO might look like—compared to Renren’s 20 to 30 million active users, Facebook enjoys more than 500 million active users on its site every day. The Wall Street Journal  also reports that several people close to Facebook’s finances say Facebook’s booming profits could warrant a valuation of $100 billion or more when it goes public, a move expected next year.
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URL to article: http://technology.inc.com/2011/05/04/renren-ipo-pegged-at-743-million/
URLs in this post:
 TechCrunch: http://techcrunch.com/2011/05/04/chinese-social-network-renren-prices-743m-ipo-at-14-per-share-at-high-end-of-range/
 The Wall Street Journal: http://online.wsj.com/article/SB10001424052748704436004576297310274876624.html
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