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The forgotten ‘Facebook of China’ is sold for $20M

sudshr47 November 14, 2018

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, […]

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Twitter posts record $100M profit but loses 1M users

sudshr47 July 27, 2018

The social media apocalypse is on us this week. Days after Facebook’s stock took a record $123 billion plunge on a poor earnings report, Twitter’s shares are down nearly 20 percent after the company announced falling users numbers. The microblogging service recorded a drop of one million monthly users in Q2, with 335 million overall and […]