SoFi is just the kind of deal that Chen has been pursuing: His NYSE-listed company, once known as the Facebook of China, has been investing in fast-growth tech start-ups to broaden its revenues and boost its stock price. That connection with Renren has also boosted SoFi.
“Joe is a great investor and was our investor from the early days. He saw the vision early on and pushed us to grow faster and be more aggressive,” said Dan Macklin, a co-founder of SoFi in San Francisco.
Similarly to Renren, China’s tech titans Baidu, Alibaba and Tencent are leading a surge of Chinese investment in cutting-edge U.S. technology start-ups with bold ambitions to expand their footprint, attract top talent and gain an edge in innovation.
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