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Renrenwang was a Chinese social media company that was once called the Facebook of China. In 2011 they IPO'ed on the New York Stock Exchange raising more than $700 million. By 2018 their social media platform had completely imploded and became almost completely worthless. The one valuable asset they still owned was a 13% stake in SoFi. CEO Joseph Chen as well as other insiders and sold the SoFi stake to themselves at a 50% discount, at the expense of minority investors.

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By Stock Chat

where the coffee is hot and so is the chat

18 thoughts on “How the facebook of china became a $300m fraud”
  1. Avataaar/Circle Created with python_avatars Max In Saigon says:

    I don’t know if it’s true but if you look at the face of frauds, you feel uneasy, something isn’t right with this person. Like Thanos, Juicero founders, and this guy.

  2. Avataaar/Circle Created with python_avatars Jason Reviews TECH says:

    don't invest in chinese companies simple and sweet

  3. Avataaar/Circle Created with python_avatars 台灣行車紀錄器影片 Taiwan Dash Cam says:

    just cant trust the chinese

  4. Avataaar/Circle Created with python_avatars Ho Lee Shi says:

    "facebook of China"…..ahh….that's probably one of the reasons

  5. Avataaar/Circle Created with python_avatars Kane says:

    Where are you getting your script? It is sold to multiple youtube channels.

  6. Avataaar/Circle Created with python_avatars Grant Guy says:

    Same will happen to Facebook meta.

  7. Avataaar/Circle Created with python_avatars Organica says:

    Is this like Luckin Coffee

  8. Avataaar/Circle Created with python_avatars Samson Soturian says:

    They're all frauds. What did you expect?

  9. Avataaar/Circle Created with python_avatars ade rahmat says:

    nani!!!

  10. Avataaar/Circle Created with python_avatars E says:

    I really don't get why would anyone want to invest in an offshore company that is a subsidiary of another company that has a contract with the actual company in China. That's basically investing in Chinese stocks is.

  11. Avataaar/Circle Created with python_avatars rave400 V says:

    Not even a surprise anymore since China and Fraud is synonymous to eachother.

  12. Avataaar/Circle Created with python_avatars SourceCode says:

    I enjoy these videos.

  13. Avataaar/Circle Created with python_avatars Gnawdwell says:

    Why those Softbank guys always involved in financial bull shits…..? Wework, Greensil and this one…

  14. Avataaar/Circle Created with python_avatars Super says:

    Moral of story is: never renren away with investors money

  15. Avataaar/Circle Created with python_avatars escape209 says:

    Softbank just can't catch a break can they?

  16. Avataaar/Circle Created with python_avatars Jake Daly says:

    Goated

  17. Avataaar/Circle Created with python_avatars Pep Guardiola says:

    last

  18. Avataaar/Circle Created with python_avatars Charlie Jones says:

    Love this channel

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