Renren IPO

Renren's social network impresses US investors

Investors take Renren's accounting scandal and high-profile resignation in their stride, making for a strong trading debut after the company's $743 million US IPO.
<div style="text-align: left;"> Renren raised $743 million in its US IPO on Wednesday (AFP)</div>
<div style="text-align: left;"> Renren raised $743 million in its US IPO on Wednesday (AFP)</div>
May 06, 2011

The power of Chinese social networks is unquestionable — the social connections, or guanxi, which shape the country’s complex social order are followed by hundreds of millions of people without question.

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