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Rumor: to IPO in 2011

Sohu IT, 6/09/11

A source close to said that the Chinese social networking site has already begun to prepare for an overseas IPO later this year.

In April 2010, chairman and CEO Pang Shengdong said that the site had already broken even. According to reports on the company, monthly revenue from the company's self-developed casual game 51 Xin Xuan Wu ("51 Flashy Dance") (, has reached nearly RMB 10 mln; at the same time, is also preparing to launch its own game platform.

Sources say that both the number of users and the company's performance have recently begun to decline, and investors are quickly backing out. Given the current overall environment, an IPO might be the best option for the company at this time, something with which Neil Shen, partner of investor Sequoia Capital, is in a position to help given his experience raising capital.

Keywords: profit Neil Shen casual game Pang Shengdong Internet IPO revenue Sequoia Capital 51 Xin Xuan Wu self-developed game online gaming SNS

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