????中國(guó)科技業(yè)的公司似乎都在進(jìn)行多元化擴(kuò)張，競(jìng)相侵入對(duì)手的領(lǐng)地。騰訊除了在即時(shí)通訊市場(chǎng)占據(jù)主導(dǎo)地位，同時(shí)也是中國(guó)最大的網(wǎng)游公司。而網(wǎng)游在人人公司的營(yíng)收中也有占有很高的比重。去年，陳一舟斥資8,000萬(wàn)美元收購(gòu)了中國(guó)一家視頻照片分享網(wǎng)站——我樂(lè)網(wǎng)（56.com），將觸角伸到了“中國(guó)的YouTube”優(yōu)酷（Youku）和土豆網(wǎng)（Tudou）占據(jù)主導(dǎo)地位的領(lǐng)域。另外，人人去年還推出了團(tuán)購(gòu)網(wǎng)站糯米網(wǎng)（Nuomi）。社交網(wǎng)站、網(wǎng)游和團(tuán)購(gòu)這三大平臺(tái)互相拉動(dòng)流量，希望通過(guò)新增服務(wù)（比如，我樂(lè)網(wǎng)），能讓社交網(wǎng)站更具黏性，從而強(qiáng)化對(duì)廣告主的吸引力。

????陳一舟表示，至少目前來(lái)看，人人收購(gòu)新資產(chǎn)的進(jìn)程已經(jīng)結(jié)束?，F(xiàn)在的重點(diǎn)是如何讓公司控制的這些平臺(tái)盈利。人人公司2011年三季報(bào)（最近一期財(cái)報(bào)）顯示，公司凈虧損120萬(wàn)美元，雖然當(dāng)季營(yíng)收大增57%至3,420萬(wàn)美元。

????這個(gè)社交網(wǎng)站已經(jīng)開(kāi)始呈現(xiàn)出增長(zhǎng)的態(tài)勢(shì)。截至去年9月底，網(wǎng)站統(tǒng)計(jì)月度活躍用戶為3,800萬(wàn)，高于2010年同期的2,400萬(wàn)。廣告收入——占去年第三季度總營(yíng)收的57%——也因此較2010年增長(zhǎng)了42%。

????陳一舟清楚，當(dāng)前中國(guó)概念股須自證清白，在這樣的氛圍中，在可預(yù)見(jiàn)的未來(lái)，緊張的美國(guó)投資者的態(tài)度依然會(huì)是“你得證明給我看”。拿出漂亮的數(shù)據(jù)說(shuō)話，同時(shí)確保這些數(shù)據(jù)真實(shí)可信。去年之前，圍繞中國(guó)概念股的盲目樂(lè)觀是荒唐的。如今，幾乎每只中國(guó)概念股都受到質(zhì)疑，同樣堪稱荒唐。

????去年9月，陳一舟宣布，人人將實(shí)施1.50億美元的股票回購(gòu)計(jì)劃，以此彰顯他篤信“我們（在中國(guó)社交網(wǎng)站市場(chǎng)中）的實(shí)名網(wǎng)站領(lǐng)先者地位”。雖然這塊市場(chǎng)競(jìng)爭(zhēng)激烈，但增長(zhǎng)潛力毋庸置疑。如果陳一舟和人人真的能做到這一點(diǎn)，或許這只股票的股價(jià)已經(jīng)跌過(guò)了頭——Facebook的IPO計(jì)劃顯然已經(jīng)喚醒了部分投資者。

????In China's tech world, everyone is pretty much in each other's kitchen. In addition to dominating the short messaging market, Tencent is the biggest online gaming company. But online games account for a large part of Renren's revenue stream. And last year, Chen spent $80 million buying a Chinese video and photo sharing site, 56.com, which moved Renren closer to the space dominated by Youku (YOKU) and Tudou (TUDO), two companies that are often dubbed as the "YouTube of China." The company also launched a group-buying site last year called Nuomi. The three principal platforms -- social network, gaming, and group buying -- drive traffic to each other, and the hope is that the added services (like 56.com) will make the social networking site stickier, and thus more attractive to advertisers.

????Chen says that Renren's phase of tacking on new assets is -- for now, anyway -- finished. The focus now is to make the platforms the company controls profitable. In its third quarter 2011 earnings report (the company's most recent report), Renren reported a loss of $1.2 million, even though revenue jumped by 57% to $34.2 million.

????The social networking site clearly has some traction. The site counted 38 million active monthly users at the end of September last year, up from 24 million in the comparable quarter in 2010. Advertising revenue, as a result, comprised 57% of overall revenue in the third quarter last year, up from 42% in 2010.

????Chen's aware that in the current, guilty-until-proven-innocent environment for China stocks, the attitude among nervous U.S. investors for the foreseeable future will be, simply, "show me." Generate good numbers -- and make sure they are credible. The euphoria that prevailed over everything China prior to last year was ridiculous. So, arguably, is the suspicion that now trails virtually every China play.

????Last September, Chen announced a $150 million stock buyback program at Renren, professing his faith in "our position as the real name market leader" among social networking sites in China. As competitive as the space is, the growth potential remains undeniable. If Chen and Renren can deliver, it's possible that its stock troubles will prove to have been excessive -- something that Facebook's plans has apparently reminded some investors.