By: Forbes Real Time
May 03, 2013 at 09:14 AM EDT
Renren Rides China's Social Networking And Gaming To $3.20
Quick Take We launch coverage of Renren Inc. with an estimate of $3.17. The company operates a social network called Renren, a gaming platform dependent upon the social network, a group buying service called Nuomi, a professional networking site similar to LinkedIn and a video sharing site, 56.com. Renren’s social network faces strong competition from other social networks and micro-blogging platforms. Renren’s revenue growth in the recent past has come from the growing popularity of its multi-player games.
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