Renren Invests $40M In Online Broker Motif Investing


New York Stock Exchange-listed Chinese social networking firm Renren Inc. has invested US$40 million in California-based stock trading website Motif Investing to assist the company in its international expansion, according to a company announcement.

Joe Chen, Renren’s founder, will join Motif’s board of directors.

Founded in 2010, Motif is backed investors including Goldman Sachs, JPMorgan Chase, Balderton Capital, Foundation Capital, Ignition Partners, Norwest Venture Partners, and Wicklow Capital.

The investment follows another similar deal last September, when Renren led a US$40 million in series C financing in XueQiu.com, a Beijing-based social networking platform for Chinese individual investors.

Later in November 2014, Renren led US$10 million series B financing in Hong Kong-based mobile app maker GoGoVan.

 

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