Renren million dollar investment US big Data forecast company FiscalNote

Renren recently invested 10 million dollars in FiscalNote, a big U.S. data company, according to the Wall Street Journal. "From a business standpoint, they will do a lot," says Chen, president of Renren. "FiscalNote Company was founded in 2013, using data mining software and artificial intelligence technology to predict legislative voting and the likelihood of passage." The company's clients include JPMorgan Chase, VMWare, Uber and others, many of whom face legal disputes or are reforming the industry. Although Renren now faces many problems, such as the inability to profit from advertising, the latest quarterly earnings show that Renren's total net revenue for the third quarter was $21.6 million, down 47.4% from a year earlier, and a net loss of $38.1 million for everyone, but it did not prevent it from taking money for investment. So far, Renren has spent more than 500 million dollars to invest in start-ups, with a focus on 2014-2015 years. such as student loan platform Sofi, real estate investment and public platform fundrise, Snowball Finance, freight service Gogovan, online investment and financing platform Motif investing, and the recent investment fiscalnote. According to the investment records of Renren, these startups have been developing more smoothly after receiving investment from Renren and other venture capital institutions. For example, the student loan platform Sofi, founded in 2011, has now completed 10 rounds of financing, has harvested 766 million of dollars in investment, of which Renren participated in the B and C rounds of financing for 157 million U.S. dollars, real estate investment and the platform Fundrise was founded in 2010, has now After the completion of 5 rounds of financing, the harvest of 41 million U.S. dollars in investment, including Renren participation in a round of financing of 31 million U.S. dollars; Renren invested 40 million dollars in snowball Finance's C-round financing, and the freight service Gogovan a 10 million dollar investment for Renren; Motif Investing Online Financial investment platform in the E-round financing to get renren 40 million dollar investment, Motif 6 rounds of financing a total of 126 million dollars of investment. If all the companies that invest in Renren can exit or go public, Renren will be able to get enough money to keep its social networking site running. Renren may also be able to transform investment funds or seed funds for college students.