Renren May Acquire Mobile Gaming Firm
Sina Tech, 9/03/12
Beijing-based social networking site operator Renren (NYSE: RENN) CEO Joseph Chen announced today that the company is considering the purchase or joint purchase of a mobile gaming firm.
According to Chen, Renren spent USD 17.8 mln on research and development in Q2 2012, twice the amount the company spent in Q2 2011. A portion of these funds were spent on recruiting mobile app developers.
At present, 45% of Renren's workforce is employed in its mobile division.
According to Chen, Renren's group buy site Nuomi will soon break even, the site sold more than USD 100 mln in general merchandise in Q1 2012.
Keywords: mobile gaming Internet Renren Nuomi RENN M&A R&D SNS group buying Joe Chen wireless HR profit
Sending
