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Weibo Corp (ADR) (WB), which is often referred as the Twitter Inc (TWTR) of China, pulled off its IPO in April and since has lost about 20% of its value.
Then there was Renren Inc (RENN), which has been called the Facebook Inc (FB) of China. And there was the IPO of Youku Tudou Inc (ADR) (YOKU), which is referred to as the You Tube of China. The problem is that the extreme IPO hype generally overextends the valuations of these kinds of companies.
But over time, the enthusiasm tapers off as investors move on to the next hot deal.
So even if you want to buy the Momo IPO, it’s probably best to wait a few quarters.
3 mobile-based social network in China, plans to launch its public offering tomorrow.