Daily topics renren com has been lost Selling non core business for profit

A5 webmaster network (www.admin5.com) October 30th news, recently caught in the plight of the transformation of the domestic social networking sites Renren started downsizing self-help. CEO Chen Yizhou, the company said the company plans to sell some non core business, in order to enhance profitability, and consider investing in the United States and Hongkong, china.

October 2006, where Chen Yizhou’s Oak interactive group acquired the school network, providing real name social services, three years later renamed renren. As of April 2010, everyone on the net login active users of about 20 million. 2008, happy farm game after the launch of the popular network for a moment, the player had more than 100 million people. At that time, Renren did not realize that all of these rings were hidden in 2011.

listed in 2011, everyone was hailed as China’s Facebook, the main body includes four major business – Renren, glutinous rice network, all games, as well as Jingwei network. These four concepts respectively: renren.com according to Facebook, the valuation of about $85 billion; all the game were Zynga, valued at nearly $10 billion; glutinous rice nets to imitate Groupon, valued at approximately $25 billion; graticule control LinkedIn, the valuation of $3 billion.

with the incoming tide of mobile Internet, renren.com complacent, strategic transformation hysteresis, although renren.com also tried to force to move the end, launched a variety of mobile applications, including the US, mobile chat, but always failed to open the market, these products are either marginalized, either die, thus the company continued to decline even the loss become homely food. Always unable to embark on a stable profit path. In the second quarter earnings report, the company’s net profit reached $31 million 300 thousand, but the company’s operating loss for the same period was also as high as $30 million 400 thousand.

personnel turbulence behind, but also everyone’s performance decline. All the company’s first quarter earnings report, the total net revenues of $24 million 900 thousand, compared with the same period last year fell 39.9%; net revenues of $12 million 200 thousand, compared with the same period last year fell 17.3%; net gaming revenues $12 million 700 thousand, compared with the same period last year fell 52.5%; gross profit was $8 million 700 thousand, down 65.2% over last year…… An embarrassing fact is that after the listing, in addition to the benefits of financial investment, there is no one quarter earnings.

some people asked, holding the "China Facebook" listed on the title, why did not achieve such a result in the end, Chen Yizhou said, it is simple, Facebook do not Tencent. We did a lot of Tencent. Not only that, the Tencent’s IM communication function is a big application more in line with the wireless Internet, you see the mobile phone under the three keys are all operators, and now the three keys for much less, so WeChat grab >