Social networking site RenRen rakes in millions for Oak Pacific Interactive

According to general manager Donna Li, the growth rate had more than doubled compared with the same period of last year.

Most of the revenue came from RenRen, one of China’s biggest social networking websites. Online gaming and social networking gaming are the other major sources of income.

Earlier this year, Chinese media reported that RenRen’s operating revenue declined for the first time in July, which was soon refuted by Liu Jian, chief operating officer of Oak Pacific Interactive.

Liu also said China’s online advertising will see an “explosive growth” over the next three years with the increase of internet users and with more and more advertisers realising the importance of the internet.

RenRen boasts with 150 million users. According to the China Internet Network Information Center, the number of users on social networking sites hit 210 million in China as of 15 July, up 19.6 per cent from the beginning of the year.