Tag Archives: social network

RenRen China’s Answer to Facebook

RenRen Inc. in 25 Slides

On April 15, 2011 Renren Inc. filed its F-1 for IPO on the NYSE under the ticker RENN. Beijing-based Renren Inc. includes the real-name social network Renren, the games producer Renren Games, and the group-buying site Nuomi.

The initial offering aims to raise $508 to $580 million and values the company at approximately $4.3 billion. Here’s what you need to know about Renren Inc. in 25 slides!

Note: I recently joined iChinaStock.com, which reports on Chinese companies publicly-listed in the US. We’re creating a series of iChinaStock ”Inside” profiles of publicly-listed (or soon-to-list) Chinese firms. Renren Inc. is the first in the series and I thought it’d also be of value to the TechRice audience.

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Will Facebook partner with Baidu to enter China?

The internets are ablaze tonight with a blockbuster rumor: Facebook will enter China. Luckily Facebook registered the domain name Facebook.cn in 2007, so it will not befall the same cruel fate that Groupon China faces with a Chinese clone at Groupon.cn.

Marbridge Consulting reports:

According to a microblog post by Hu Yanping, founder of Beijing-based market research firm Data Center of the China Internet (DCCI), Facebook has signed an official contract with a local Chinese Internet company to build a new social networking website in China. Hu added that the new website would not be integrated with Facebook.com.

Supreme China internet watcher Bill Bishop tweets:

hu yanping founded china net researcher dcci, may have inside info, has 450k weibo followers, “facebook has china deal” news spreading fast

Hu Yanping was the first to break the news about Google’s pullout from China last year so he’s a well-regarded source in the tech industry.

In his weibo post (screenshot aboveHu Yanping names “some company,” rather than Baidu specifically. My translation of his weibo:

Facebook is really on the eve of entering China, the contract has been signed, with some Chinese partner who will build the new site according to some model, but which will not completely connect to Facebook.com. Is Facebook doomed to die in China? [Note: The last bit plays on an unofficial transliteration of Facebook’s name into Chinese: “doomed to die.”]

But Marbridge continues:

Editor’s Note: Multiple industry sources have revealed to Marbridge that online search giant Baidu (Nasdaq: BIDU) is the “local Chinese Internet company” that will be working with Facebook and operating the new SNS website in China. In mid-February it was rumored that Baidu’s top management had visited Facebook’s headquarters in Silicon Valley (see “Rumor: Baidu Visits Facebook in Silicon Valley,” MD 2/18/11 issue.)

The partner will NOT be Sina, contrary to popular speculation. Bill Bishop tweets:

Hu Yanping just replied 2 me on weibo that alleged Facebook China JV partner is NOT Sina $sina..wonder if rumors yesterday popped Sina $6?

AND

if facebook china jv rumor true, likely partners are alibaba, china mobile, sohu, baidu. china mobile might be an inspired choice

If you’ve read my previous pieces including Why Mark Zuckerberg Came to China and Why Facebook Will Not, you know this news would come as a shock to me! If true, Forbes’ Gady Epstein was clearly on the money when he wrote, Will Facebook Follow Zuckerberg To China? Inevitably.

Baidu is China’s largest search engine with ungodly amounts of search traffic (iResearch says Baidu has 84% market share) and web portal (Baidu Tieba or Post Bar). It also recently surpassed Tencent in market cap to become China’s most valuable internet company at almost $50 billion. That’s only slightly behind Facebook’s most recent valuations based on funding.

Yet like Google, Baidu has been unable to execute a successful social network or microblog to-date. Hello Facebook, welcome to China.

Does Facebook Zuck?

The Facebook Movie Is An Act Of Cold-Blooded Revenge – New, Unpublished IMs Tell The Real Story

 

    The plan goes into effect Bringing down the house

 

Tags: Entertainment, Features, Facebook, Mark Zuckerberg | Get Alerts for these topics »

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The Facebook Movie Is An Act Of Cold-Blooded Revenge – New, Unpublished IMs Tell The Real Story

Nicholas Carlson | Sep. 21, 2010, 10:01 AM | 1,423,868

 

Eduardo Saverin close-upOn October 1, Columbia Pictures will release The Social Network, a film that portrays Facebook’s CEO and cofounder, Mark Zuckerberg, as an arrogant nerd-punk who betrays friends and classmates in order to get what he wants – sex, money, and power.

The movie is fiction. So is the book it’s based on – Ben Mezrich’s The Accidental Billionaires.

Facebook hates the movie. Zuckerberg says he will not watch it.

Based on the early reviews of the movie, this makes sense.

According to sources – sources who despise Mark Zuckerberg and sources who admire him – the only reason The Accidental Billionaires exists is because one of Mark’s Facebook cofounders pitched the book to Mezrich in an attempt to permanently damage Mark’s reputation.

According to those sources, that cofounder and Harvard student is Eduardo Saverin.

This is the story of how Eduardo got so angry at Mark — how, from Eduardo’s perspective, Mark screwed him out of a huge chunk of Facebook stock. It’s also the story of how Mark solved an early problem at Facebook, one that could potentially have prevented the company from becoming the global behemoth it is today.

The story is sourced from people involved in the founding year of Facebook, people close to Facebook, and documents viewed by Business Insider.  It includes previously unpublished emails and instant messages between Mark Zuckerberg and early Facebook colleagues and confidants.

The story starts here: “A sucker born every day” >>

Read more: http://www.businessinsider.com/facebook-movie-zuckerberg-ims#ixzz1IMh3JYQ2