Renren, China’s number one social networking website, reported total net revenues of US$30.4 million in the second quarter, a 53.2% increase from the corresponding period in 2010.
Renren’s online advertising revenues were US$16.9 million, representing an increase of 93.8% from the corresponding period in 2010.
The significant increase was attributable to the growth of Renren’s SNS platform and user base, as well as the increased adoption of SNS among advertisers in China as an effective advertising channel.
The number of Renren’s activated users increased from approximately 96.8 million as of June 30, 2010 to approximately 124.2 million as of June 30, 2011. Monthly unique log-in users increased from approximately 25.0 million in June 2010 to approximately 34.4 million in June 2011.