Comment on Renren Leads $31mn Round in U.S. Real Estate Crowdfunding Site Fundrise by Renren: The Failed "Facebook of China" - TechNode

['Emma Lee', 'More Emma Lee', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-05-30 00:00:00

Chinese social networking platform Renren (NYSE: RENN) led a $31 million financing round in Fundrise, a U.S. crowdfunding startup that finances commercial real estate projects for investors. Other investors of the landmark round include execs from New York developer Silverstein Properties, the Collaborative Fund, among others. With this financing, Fundrise intends to expand its offerings to institutional investors interested in direct exposure to real estate. Real estate crowdfunding sites are chased by investors. We believe that the real estate market is the newest frontier for crowd-based financing.” He added that a common point between Renren and Fundrise is community culture.