Tag: IPO

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Renren, China’s Answer to Facebook, Plans US Float

Renren, the Chinese equivalent of Facebook, is planning to go public, the first social networking site to do so:. From the Guardian:Renren.com has hired the investment banks Morgan Stanley, Credit Suisse and Deutsche Bank to advise it on the initial public offer (IPO), which could raise $500m (£310m), according to the Financial Times. Estimated to have 22m active users, renren – which means “everyone” –