this morning, the reporter was informed that Renren today submitted a listing application to the U.S. Securities and Futures Commission, plans to raise $640 million. Since this year, dangdang.com and Qihoo 360 companies have successfully landed on the U.S. stock market, in addition to three confirmed submitted a listing application, following the 2000 Chinese multi websites on listing, Chinese Internet companies are set off the second round of listing tide.
Renren plans to finance $640 million
Renren submitted the listing application shows that all the company’s plan to raise $640 million, since 2010, China’s largest listed technology companies listed in the u.s.. According to the price range on the prospectus, the company’s market value has more than 4 billion U.S. dollars, becoming the highest valuation of Listed Companies in the recent Internet Co.
as the first SNS market in the United States, the company’s profitability has become the focus of attention of the industry. Adjusted net profit, everyone reached $17 million in 2010 earnings. An industry source said, Thousand Oaks group has changed its name to Renren, the listing and financing, everyone has the original network of social networking sites Renren, as well as do buy services glutinous rice network. Social networking and buy the two types of Internet is the most popular concept of the U.S. Internet industry, the equivalent of the United States Facebook and Groupon two sites operating mode.
why Chinese Internet favored U.S.
recently, the site has been tangled storm storm. Prior to this, there are rumors that the storm has been abandoned in the United States listed in the United States plans to turn on the gem, foreign dollar risk investment from abroad has been withdrawn, replaced by RMB investment. Storm CEO Feng Xin denied this.
with the concept of high-tech Internet companies listed in the US stock market, why do? Feng Xin believes that the capital structure of many China Internet companies, including venture capital funds, which is basis for the initial development Chinese of Internet companies, but with foreign venture investment enterprises, the policy can not be listed in the domestic capital market. He believes that after the international financial crisis, the Internet is the concept of American capital market is the hottest, Chinese economy is optimistic about the world, Chinese Internet business is more optimistic about the capital, so Chinese Internet companies in the U.S. capital market is very popular.
China Internet bubble
at the end of last year, youku.com successfully listed $more than 200 million financing, then, dangdang.com Qihoo 360, the two companies successfully listed, Qin, Century Internet has also submitted a listing application.
in 2000 or so, Sina, Sohu, NetEase and other portals listed in the United States, known as China’s first wave of internet. The Chinese portal in the listing, the share price was low, and even face the risk of delisting, the number of companies competing to market, whether there is a bubble?
Feng Xin believes that China’s Internet bubble does not exist. "China is the world’s Internet users"