Shanda (NASDAQ:SNDA), a leading interactive entertainment media company in China, is now valued at a huge US$2.3 billion after its own CEO, Tianquao Chen made an offer to buy back stock at US$41.35 per share or 23% above Friday’s closing price. The stock last closed at US$41.28 on the NASDAQ.

Chen and his immediate family already control 68% of Shanda stock and are positioning themselves to take the company private. The parent company generated $264 million in revenue in its most recently reported fiscal quarter.

Shanda is known to be a very powerful player in China’s booming mobile and internet industry and has made bets on many different products.  They launched Tuita, a Tumblr-like light-blog   to compete with the variety of big-internet company Tumblr clones.  The company is also believed to be the first ever pay-as-you-grow cloud servers in China. There have also been rumours spreading that Shanda is gearing up to launch their own mobile phone.



Jason Lim

Jason is an Australian born Chinese living in Beijing, specializing in entrepreneurship, start-ups and the investment eco-system in China, especially in the tech and social area.

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