chinese internet companies

Former rivals Youku and Tudou become allies through a $1.2 billion merger.

China is now home to more than 300 million microbloggers, and some analysts have declared Sina the winner in the battle to dominate the market.

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.

21Vianet raises $195 million after pricing its US IPO 25% above the initial top of the range — and at 37 times estimated 2012 net earnings.

The $138 million IPO of 21Vianet, a Chinese data service provider, is “going well”, sources say.