NetQin Mobile (NQ.NYSE), a Chinese internet-security software maker, saw its share price fall 19% from its offering price on Thursday – the steepest first-day decline of any US initial public offering this year, the Wall Street Journal reported. NetQin’s stock closed at US$9.30 per share on its first day of trading, after the company generated […]
Category: Tech, Media & Telecom
A senior US senator wrote a letter to Baidu (BIDU.NASDAQ) founder Robin Li this week, expressing his concern that Baidu doesn’t protect its users’ freedom of expression and privacy, the Wall Street Journal reported. The letter came after rumors circulated that the Chinese search giant was in talks with Facebook for a potential partnership. US Senator Richard Durbin, a […]
China announced the creation of a new agency to supervise the internet, in an effort to better control an industry that was previously overseen by a handful of regulators, the Wall Street Journal reported, quoting reports from the state-run Xinhua News Agency. The new State Internet Information Office will be run by officials from the […]
Shares of Renren (RENN.NYSE) surged 29% to close at $18.01 on its first day of trading on the New York Stock Exchange, as the company became the first social-networking site to conduct a public offering in the US, Bloomberg reported. The Beijing-based company raised US$743.4 million through the sale of 53.1 million American depositary receipts, […]
Social networking company Renren Inc. has run into another public relations roadblock ahead of its New York listing, as allegations of fraud were leveled against another company one of its board members works for, the Wall Street Journal reports. The board member, Derek Palaschuk, an independent director and chairman of Renren’s audit committee, also serves […]