$ 40 million investment for all United States Stock Exchange Web site

Beijing News the morning of January 21, United States stock trading site Motif Investing, announced on Tuesday, won by renren (NYSE:RENN) lead investor for $ 40 million in financing, company founder Chen and former Deputy Chairman of investment bank Goldman Sachs Kaer·sideng (Carl Stern) has joined the company’s Board of Directors.
This round of cash injection will be used to help the Silicon Valley online trading platforms to expand overseas. Motif is headquartered in San Mateo, California, allows users to the company’s website for common investment themes to create, share and investment portfolios, such as online gaming stocks and precious metals stocks, and so on. This site about 120,000 subscribers, they purchased equity portfolio needs to pay $ 10 per batch.
This latest investment round will promote expansion of Motif, asset managers and other financial advisors with the tools, by charging a monthly fee to help them manage customer portfolio of software. This set up 4 years of tech start-ups have attracted customers such as Goldman Sachs and Morgan Stanley earned my trust.
All company will also strengthen financial investments in tech start-ups. The company has invested hundreds of millions of dollars to such enterprises. Chen believes that may be in this area for all future business model of the company is located. As the social network users to switch to mobile devices, the company found it difficult to generate revenue through advertising and therefore would like student loans, credit cards and financial services to explore new sources of income.
“In China, fully profit from mobile advertising too difficult. “Chen said,” China does not have much of a mobile advertising revenue potential. ”
Although the company started as a social network for all, but because of earnings difficulties, which were later headed into other areas such as online games and e-commerce. Last year’s third quarter, the company achieved sales of $ 21.6 million, YOY drop 47%, net loss expanded to $ 38.1 million.
Renren in 2013 to sell their e-commerce business to Baidu, Chen announced last October that it would sell more non-core businesses in order to profit. All companies listed in May 2011, present more IPO‘s market value has fallen by more than 80%.
Chen said the company plans to finance science and technology venture company invested about $ 500 million, at present has reached 200 million to 300 million US dollars of investment. Led the company last May voted in Fundrise’s $ 31 million in financing. Which is a raised platform of real estate in Washington, DC. All Social Finance Company or P2P student loans company’s largest shareholder.
“In the future there will be 10 financial Internet company listed. “Chen said,” I think there are about eight or nine had been established, and some are already beginning to take shape. ”
Social Finance is expected to be this year’s IPO to raise $ 200 million to $ 250 million. Motif has to date raised $ 120 million and investors include Ignition Partners, Norwest Venture Partners and Foundation Capital.
Motif in 2011 by former Microsoft Executive hadipu·waliya (Hardeep Walia) co-founded, they planned this year to the United Kingdom and Hong Kong, China expansion. All companies are expected to eventually help them to enter the Chinese mainland market.