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Renren Inc. Message Board

  • lawstuff22 lawstuff22 Apr 29, 2013 9:26 AM Flag

    Good News for RENN thanks to Sina.

    Says forms strategic alliance with Alibaba to enable social Commerce * Alibaba has invested $586 million to purchase preferred and ordinary shares representing about 18% of Weibo on a fully-diluted basis * Also granted option to Alibaba to increase its ownership in Weibo to 30% at a mutually agreed valuation within a certain period of time in future * Says the two companies will cooperate in areas of user account connectivity, data exchange, online payment & online marketing

3.36-0.08(-2.33%)Sep 19 4:00 PMEDT

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