Renren, which was once heralded as the ‘Facebook of China’ and later became China’s answer to MySpace after falling out of fashion among its core young users, is selling its social networking business. Renren’s parent company Beijing Qianxiang Wangjing has agreed to sell all tangible and intangible assets of renren.com to Beijing Infinities Interactive Media, […]
View More The forgotten ‘Facebook of China’ is sold for $20MCategory: renren
Of course China’s forgotten social network is doing an ICO
ICOs were one of the breakthroughs in the tech industry in 2017. Initially it was just those in the blockchain space who were aware, but as the year went on a number of existing business grew attracted to the idea of raising money without the usual route of VCs and lost equity. The year ended with more than $4 billion raised via ICOs. It’s fair to say that the concept is widely-known… Read More