Rumor: Tianya to Buy Back Google Stake Before IPO

TechWeb, 6/07/10

A source within Chinese online community Tianya has reported that Tianya is considering buying back shares from Google, with active support from Chinese government authorities. Tianya is currently engaged in preparations to IPO on Shenzhen's ChiNext growth enterprise board. When asked about a timetable for the listing, the source said that the sooner Tianya lists the better, but that the company needs to first deal with the issue of its shares held by Google.

CEO Xing Ming recently disclosed that Tianya has already surpassed all ChiNext listing requirements, and will soon list on the exchange.

Tianya currently has over 30 mln registered users and over 1 mln active daily users. Tianya has over 400 categories and topics, with nearly 1 mln new posts each day.

Keywords: Xing Ming Internet IPO online community Tianya Google registered users ChiNext

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