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Chinese Social Network Buys Video Site

Posted October 3rd, 2011 at 3:49 pm (UTC+0)
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One of China’s biggest social networking sites has purchased a declining video sharing site, sparking some negative feedback. Renren, valued at $5 billion earlier this year, spent only $80 million for 56.com, one of the country’s larger video sharing sites. Founded in 2005, Renren is popular with university students and was formerly named the “On-Campus […]

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About

By admin on October 1, 2011

China Wangre (中国网热) is a wide-ranging look at the latest digital news and trends from the world’s largest online population.

Beijing native Alice Liu follows what’s hot and how people in China are using mobile devices, traditional websites and social media to connect with each other and the rest of the world.

Fluent in Mandarin and English, Alice has written on technology issues in China for publications such as “The Guardian”, “The Huffington Post” and “Danwei.org”.

Wangre means “Net Hot” in Mandarin and was picked to convey our commitment to bring the latest developments from digital China.

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