RenRen Go for IPO in NYSE, Raising US$584 Million

Another mega China internet IPO will soon hit the U.S.  Leading Chinese social network, Renren, finally filed for IPO in New York Stock Exchange.  It plan to raise up to US$584 million.

Many of the recent China internet IPO perform very well.  This one obviously going to be another hot issue. I interviewed Renren’s CEO Joe Chen for my book Red Wired: China’s internet revolution.  His first startup is Chinaren, a social network of Chinese students, which he later sold to Sohu, after 2000 internet bubble burst.  The following is an extract from the book:

ChinaRen was sold to Sohu, the second largest online portal in China, for US$33 million after the Internet bubble burst in 2000.  After a brief spell at Sohu, Chen went back to the U.S., where he made an ill-fated effort to start an optical networking company. With the industry reeling from the bursting of the bubble and the aftermath of the 9/11 terrorist attacks, his timing could not have been worse.

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