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China's Facebook IPOs: "It's Overvalued, But People Are Going To Buy It Anyway"
RenRen, the "
Facebook
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of China", is going public today at a huge valuation. The valuation is 67X revenue, versus 25X revenue for Facebook's private markets valuation,
Bloomberg
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says.
RenRen says this is justified because it has much more growth ahead of it than Facebook, which makes some sense. Read more
Summary
RenRen, the "Facebook of China", is going public today at a huge valuation. The valuation is 67X revenue, versus 25X revenue for Facebook's private markets valuation, Bloomberg says.
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