SOURCE: The Bedford Report

The Bedford Report

June 22, 2011 08:16 ET

Renren and LinkedIn Remain Fortunate Chinese Social Networking Players

The Bedford Report Provides Equity Research on Renren and LinkedIn

NEW YORK, NY--(Marketwire - Jun 22, 2011) - Social networking stocks have been struggling over the last month as analysts have warned the industry may mirror the late-1990s' technology bubble. Even the billionaire "Oracle of Omaha" Warren Buffet chimed in on social media stocks, suggesting investors should be wary of valuations for social-networking websites. The Bedford Report examines the outlook for companies in the Technology Sector and provides equity research on Renren, Inc. (NYSE: RENN) and LinkedIn Corporation (NYSE: LNKD). Access to the full company reports can be found at:

While competition is fierce for social networks in the US, censorship laws in China minimize contention. Facebook, Twitter, YouTube and Foursquare are all blocked in China. "People at any social network in China that is going to be successful are going to be very sensitive to playing the game by the rules," said Dixon Doll, co-founder and general partner of venture capital firm DCM.

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LinkedIn's Chinese membership has grown to more than one million users. LinkedIn runs a network focused on business users and claims 100 million users and was the first marquee name in social networking to go public. On May 19, 2011 the company went public at $45 a share, climbed as high as $122.70, and has since slipped down to $68. Renren -- the so-called "Facebook of China" -- saw its shares surge as high as $24 following its Spring IPO, but shares have since slid under $8.

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