If Renren was not acquired by Beijing Infinities Media, its founder, Wang Le, wouldn't have become a public figure. Which company would acquire Renren, once the most popular social platform in China?
Nowadays, business acquisitions are very common in China. But when Renren.com was acquired, it shocked almost everyone and immediately caused a wave of nostalgia among China's youth.
On November 14, 2018, Renren.com announced that the assets related to its social networking platform were sold to Beijing Infinities Interactive Media Co.Ltd for 20 million U.S. dollars in cash and 40 million U.S. dollars in stock.
Eighteen years ago, Wang Le devoted himself to Internet entrepreneurship and founded the predecessor of Infinities Media. They built the first Chinese blog website, DoNews.com, and then they became a pioneer in finding the value of social networking.
Wang Le and his team began to study and develop social media platforms, eventually participating in the operation of Renren. In 2010, DoNews became independent and Infinities Media was established.
This company grew with the development of the Chinese Internet, going through many important developments in the past 18 years. Wang said, "DoNews is like my life. It is closely connected to my youth."
Wang believes that without China's reform and opening-up, there would be no Internet industry in the country and that in the future, big data can help humans view and solve problems in their lives.
In the past 40 years of reform and opening-up, China seized the right opportunities at the right time in the right fields, emerging from nothing, from existing to excelling, and from being a follower to a leader.