Chinese social media company Renren Inc.’s $300 million settlement with a group of investors who accused its co-founders of self-dealing was rejected by a New York state judge, sending its U.S. share price on a plunge of 53%.
Here is this week’s roundup of China tech stories.
In episode 30 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma talk about Renren Inc., the closest Chinese analogue to Facebook.
Four years after my last post on renren.com in 2014, the Facebook of China, I logged in to check back on my friends but got nothing but disappointment in return. Among stereotypical selfies of online celebrities are the ashes of my burned-out college memories.
Here’s this week’s roundup of China tech stories.
Once upon a time, the graveyard that is Renren was worth US $8 billion. The former “Chinese version of Facebook” imploded after building the country’s largest social media network.