Renren’s stock has slipped after a mixed Q2 earnings report earlier this week, where net revenues were $44.8 million, up 47.5% year over year, but advertising revenues decreased and analysts are worried that the social network may be losing its potential as the “Facebook of China”. The stock has dropped around 25% over the last few months and the big question is whether nor not now is the time to buy cheap.
Renren, the “Facebook of China,” has added a new friend. Chuanfu Wang, a manufacturing executive who was named BusinessWeek’s Star of Asia in 2003, will replace Ruigang Li as an independent director on the company’s board. His appointment follows a wave of partnerships between the social network and smartphone manufacturers on Renren-enabled devices.
Renren, one of the biggest Chinese social networks, has been selected as the first social networking application for Windows upcoming Windows store. The Windows 8 version of the application uses the famed “Metro” look, with various large, colorful rectangles. The “HD” refers to the fact that it’s optimized to be used on a large screen tablet.
Just because you can travel the world with the click of a mouse doesn’t mean you should. To stay competitive in a global market, brands need to back their social media efforts with a strong presence in the real world. At a Social Media Week panel on social marketing for global markets, a panel of experts shared their best practices for marketing with RenRen, Mixi and other international networks.
Renren, after a pretty tough couple of months that’s seen the stock come down from an IPO of between $12 and $14 to around $5 today, has joined other Chinese stocks in some of their best rallies of the year. Renren CEO Joseph Chen pointed out that mobile demand is boosting the user numbers. This could mark a revolution in the way Chinese users use the social network — mobile has always been a popular form of networking in the East, as proved by the Japanese social networks GREE and DeNa.
Investors have put some serious volume into investing in Renren, the “Chinese Facebook” over the last three days, seemingly identifying the site as a possible social media growth stock that can ride the coattails of Facebook. Between January 29th and the end of the 30th, the stock rose from around $4 to a high of $6.50, but has since come down to around $5.50. The question is whether the stock will continue to grow as the Facebook IPO goes through.
Pinterest clones are popping up all over the place after the site’s 2011 success, and the sincerest form of flattery is continuing all the way into China. The new service is called Renren Guangjie, and allows you to simply pin images onto your site. It seems that most of the posted images come from one source, though.
Following Shanghai’s recent move ordering Sina Weibo — China’s Twitter equivalent — to have users report their real names to keep better tabs on them, China’s Tencent has announced that they will not ask users of their QQ social network to provide their real names. The announcement came from Chief Executive Pony Ma and is in opposition to many real-name policies being activated across China.
The year 2011 is safely behind us, and it looks like the future of social media is all downhill from here. It seems the bigger companies are consolidating, either by buying out competitors or enhancing their own services. A new infographic looks at the major events of 2011.
Chinese social network Renren is one of the first social networking companies to have gone public here in America, and while it’s often derided as China’s “Facebook clone”, the service now boasts between 30 and 40 million monthly active users. In addition to its growing popularity, the site is also home to some of those strange stories that could only happen on a social network. The most recent is the story of a woman, Lin Yu of Huazhong Agricultural University, who has posted a “Husband Wanted” post, asking people to apply to marry her.