No Xiaonei Anymore, Here Comes RenRen

If I ask who are the popular social networking sites in China? I think most of you will talk about Kaixin001.com, QQ, 51.com and Xiaonei.com. However, since yesterday, there is no Xiaonei.com anymore, Joe Chen, CEO of Oak Pacific changed its name from Xiaonei.com to RenRen.com.

But why changing the already well-known Xiaonei.com brand to [...]

What’s The Meaning of SoftBank’s Investment in Oak Pacific?

Lots of discussion on the news that Masayoshi Son’s Softbank will lead an investment totaling $430 million for approximately 35% stake of Oak Pacific Interactive (OPI), whose main asset currently is Xiaonei.com, a Facebook clone, can be found on the blogosphere already, such as on Techcrunch, VentureBeat and DigitalWatch.
Honestly, I was surprised by the [...]

Rising And Falling of Oak Pacific

Zhang Liang, a journalist of Global Entrepreneur, linked to a recent report of Oak Pacific. In case you don’t know Oak Pacific, this company is treated as an icon in web2.0 of China. It has raised US$ 58 million in two rounds of funding. Its subsidiary companies include Mop, Xiaionei, Donews and a couple of [...]

Chinese campus social network hot again

Cnetnews reported: Oak Pacific Interactive has acquired Xiaonei (profile), Chinese version of Facebook. It will combine with 5Q, Oak Pacific’s campus social network division.
According to the report, 5q was founded in Apr. 2006. It has covered 2000 universities in China. The registration number is 1.2 million. Xiaonei was founded in Dec. 2005. It has [...]

Oak Pacific To Lay Off 150 Staffs

Oak Pacific Interactive, who got $ 48 million investment from General Atlantic and other famous VCs in March, announced in its press release today that it will lay off about 150 staffs, that is approximately 10% of all its employees. (via sina)
The layoff will mainly affect Mop.com and Donews.com to streamline its business and [...]

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