Giant Interactive Group Buys 25 Percent Stake in 51.com
Giant Interactive Group Inc announced to that it would purchase a 25 percent stake in 51.com, the popular Chinese based social networking for $51 million dollars. How did they come up with a valuation? Not quite sure but the $51 million appears to be a symbolic number. This values 51.com at just over $200 million, a far cry from the $3-$4 billion that Facebook is estimated to be valued at currently.
Giant Interactive is a publicly based gaming company which has been struggling to acquire new users.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in