The agreement will involve significant level of integration between the two platforms. According to the sources, the two companies will cooperate on providing universal login access to both the platforms and cross sharing of photos and status updates.
“Renren’s alliance with MSN network is in the spirit of a win-win situation,” Renren’s chief operating officer Liu Jian stated.
With over 480 million internet users, and around 230 million of social networkers China’s internet market is growing rapidly and tech biggies are looking for ways to expand their business there.
Renren’s social networking platform enables users to connect and communicate with each other, share information, play online games, listen to music, shop for deals and enjoy a wide range of other features and services. However, the company has been going through a tough time. Since its initial public offering in May this year, Renren’s shares have dropped by 57 per cent. This new partnership with Microsoft will most likely strengthen its position.
Apart from Renren, Microsoft also signed a deal with China Standard Software Co Ltd (CS2C), a leading provider of operating systems and office products, recently to develop and sell cloud-computing solutions to retailers, banks and government organizations in China.