Chinese biggest SNS company "Renren" published the statement of accounts in the third quarter, and they disclosed that their active users are 172 million people in the third quarter.
Their active users were 137 million people in the previous year, hence it follows that their active users increased 25.5%.
And according to their statement, their net sales was 50.4 million USD, and its income was loss of 15.4 million USD. Their net sales increased 47.2% compared to the previous year, but their loss of net income also drastically increased (The loss in the previous year was 1.2 million USD).
There are two reasons of increasing loss. First, their ads revenue decrease 17% compared to the previous year. Second, the loss of their group company "Nuomi" accounts for a large percentage. The loss of Nuomi was 6.3 million USD, so it means that its rate was almost 41%.
Nuomi is a company that provide joint buying service, but its market is proceeding the selection, and its whole market size is also decreasing.
For their v-shaped turnaround, they have to seek a new revenue source, and additionally they have to consider direction of Numoi's dealing.
Source => TechWeb, Tencent IT