China Internet Active as Social Platform YY, Inc. (YY) Goes Public (RENN) (QIHU) (SINA)
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YY, Inc.(Nasdaq: YY) began trading on the Nasdaq today, with shares opening flat at $10.50 per ADS.
The company, which has arguably the best logo around, is "a rich communication social platform that engages users in real-time online group activities through voice, text and video."
With the IPO, some of YY, Inc.'s peers are seeing some activity today. YY said competitors nclude other major platforms that host online games, such as QQ, Renren (NYSE: RENN) and Qihoo 360 (Nasdaq: QIHU). The company also competes "with other internet companies that provide voice and video services to Chinese internet users." We're going to lob in names like SINA Corp. (Nasdaq: SINA), Tencent (OTCBB: TCEHY), Baidu (Nasdaq: BIDU), and Sohu.com (Nasdaq: SOHU), among others.
Renren, Bidu, and Qihoo are all lower today. YY, Inc. is up 7.8 percent on its first day of trading.
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The company, which has arguably the best logo around, is "a rich communication social platform that engages users in real-time online group activities through voice, text and video."
With the IPO, some of YY, Inc.'s peers are seeing some activity today. YY said competitors nclude other major platforms that host online games, such as QQ, Renren (NYSE: RENN) and Qihoo 360 (Nasdaq: QIHU). The company also competes "with other internet companies that provide voice and video services to Chinese internet users." We're going to lob in names like SINA Corp. (Nasdaq: SINA), Tencent (OTCBB: TCEHY), Baidu (Nasdaq: BIDU), and Sohu.com (Nasdaq: SOHU), among others.
Renren, Bidu, and Qihoo are all lower today. YY, Inc. is up 7.8 percent on its first day of trading.
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