What will Facebook’s IPO be? Let’s look at Renren.

20Sep11

Renren raised $743.4 million in its IPO, which was  almost 56.6 percent above its IPO price in its first day of trading on the New York Stock Exchange. Some people make analysis on Facebook’s IPO based on this.

Sometimes when I ask my friends who travelled to China, What do you like most about China? DVD was always in the answers. You could buy a DVD with the newest TV series of The Big Bang Theory with 5 RMB (about 70 cents) and don’t need to worry about laws, policies and regulations about intellectual property. It seems Chinese can clone everything—TV series, Cellphones, Website, etc.

“Shanzhai Culture”(山寨文化) is blooming in China now. Literarly, Shanzhai means” Mountain Village” in Mandarin. “It describe a vendor who operates a business without observing traditional rules or practices — often resulting in innovative and unusual products or business models.”(http://www.shanzai.com/index.php/home/about-us.html) The copycat product sometimes even gains more impacts than the original products in China. The website of http://www.shanzai.com  track the Shanzhai product and make analysis about it. Also, there is a review about all popular internet products and their clone products in China. http://shanzhaioff.com/c/internet

It should not be hard for you to recognize what’s the original products of the following website.

http://www.renren.com/

http://www.diandian.com/

http://www.baidu.com/

http://ruguoyun.com/

Here the question came. How could companies deal with their clone product? How to make their own market strategies in China? Should Google and Facebook tries their best to suit Baidu and Renren for the infringement of copyright law? Or should they comply with the censorship from Chinese government on the content and seize the market before their clone products? Could we see Shanzhai culture as another way of encouraging creativity or is it only the violation of intellectual property?

–Holly Jiang

http://www.reuters.com/article/2011/05/04/us-renren-ipo-idUSTRE7433HI20110504

http://money.msn.com/top-stocks/post.aspx?post=96792692-bfec-4f8d-b33f-74758e7db339

http://www.shanzai.com/index.php/home/about-us.html

http://www.chinahush.com/tag/shanzhai/

http://techrice.com/2011/08/31/shanzhai-factory-%E5%B1%B1%E5%AF%A8%E5%B7%A5%E5%8E%82-is-your-product-cloned-in-china-yet/

http://www.chinahush.com/2011/07/31/photo-hunt-game-of-chinese-shanzhai-products/#more-8691

http://www.renren.com/

http://www.diandian.com/

http://www.baidu.com/

http://ruguoyun.com/

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