Giant Interactive Group Buys 25 Percent Stake in 51.com
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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.