PHOENIX, April 8,
2022 /PRNewswire/ -- Renren Inc. (NYSE: RENN)
("Renren" or the "Company"), announces today that the
Company, has signed a Software License and Distribution Agreement
("License Agreement") with Guangzhou Yupu Software
Technology Co., Ltd. ("Guangzhou Yupu"). The License
Agreement gives Renren, through its subsidiary SaaS Logistics US,
Inc., a perpetual, exclusive, and irrevocable license to modify,
sell, and commercially exploit the licensed software worldwide
except in Mainland China for a one-time consideration of
RMB2 million (equivalent to
US$0.31 million). In conjunction with
the License Agreement, Renren entered into an employment agreement
with Mr. Rui Song, Guangzhou Yupu's
former CEO. Mr. Song will serve as CEO of SaaS Logistics US, Inc.
The Company expects to further develop and grow its suite of
driver-centric SaaS-based services with the acquired software
About Renren Inc.
Renren Inc. (NYSE: RENN) operates several U.S.-based SaaS
businesses including Chime, a CRM and Marketing Automation
platform, and Trucker Path, a trip-planning and business app for
long-haul truckers. Renren's ADSs, each currently representing 45
Class A ordinary shares of the Company, are traded on NYSE under
the symbol "RENN".
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Renren may also
make written or oral forward-looking statements in its filings with
the U.S. Securities and Exchange Commission (the "SEC"), in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Renren's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, which could
cause actual results to differ from the forward-looking statements.
The forward-looking statements included in this press release are
not a guarantee of future events, and that actual events may differ
materially from those made in or suggested by the forward-looking
statements. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Further information
regarding these and other risks is included in our annual report on
Form 20-F and other documents filed with the SEC. All information
provided in this press release is as of the date of this press
release, and Renren does not undertake any obligation to update any
forward-looking statement, except as required under applicable
SOURCE Renren Inc.