Can China’s Renren Survive Sina’s Weibo?
When China’s social networking company Renren (RENN) launched on the Nasdaq in May, it’s market cap was over $6 billion. Investors couldn’t buy America’s premier social networking name, Facebook, but they could buy China’s. And why not? China has more internet users than the U.S. and Renren was a leading social networking site. Investors piled in, sending the stock up by more than 50% in one day …
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