Ren Ren, China's Facebook, lists in the US

  
[Image courtesy of www.search-internetmarketing.com] 

Ren Ren, Chinese social media giant and possibly the Mainland's answer to Facebook, has listed on the New York Stock Exchange.

Shares in Ren Ren began trading at US$14 - at the upper end of its US$12-14 range predicted by analysts. 

The company 's post IPO market value is US$7.5 bn, giving it a value nearly 100 times that of its 2010 revenues of US$76.5 m.

For China Direct's 2011 comments on China's growing online Social Media companies please click here.

Recent commentary on Ren Ren's IPO and company background can be found below:

http://on.ft.com/koapWu

http://tcrn.ch/kZ10Da

http://bbc.in/ln9ILl