Document:

Exhibit
4.79

 

Asset
Purchase Agreement

 

This Asset
Purchase Agreement (the “Agreement”) is made on November 13, 2018 by and between:

 

		(1)	Beijing
                                         Infinities Interactive Media Co., Ltd. (the “Buyer”), a joint stock
                                         company duly incorporated and existing under the laws of the People’s Republic
                                         of China (the “PRC”) with limited liabilities, with its registered
                                         address at Room 204, 2F, Xinghua Green Industry Building, Baosheng East Road, Haidian
                                         District, Beijing (Dongsheng area); and

 

		(2)	Beijing
                                         Qianxiang Wangjing Technology Development Co., Ltd. (the “Seller”),
                                         a limited liability company duly incorporated and existing under the laws of the PRC,
                                         with its registered address at Room 315, 3F, Building 1, No. 17 Xijing Road, Shijingshan
                                         District, Beijing.

 

Each shall
individually be referred to as a “Party”, to each other as the other Party, together as the “Parties.”

 

WHEREAS:

 

		1.	The seller
                                         is engaged in the business in relation to Renren.com, a social networking platform; and

 

		2.	The Seller
                                         wishes to sell to the Buyer and the Buyer agrees to purchase from the Seller, the Acquired
                                         Assets (as defined below) owned by the Seller, all rights related thereto, including
                                         but not limited to ownership, rights of possession, use rights, income rights and disposition
                                         rights, and other benefits in accordance with the terms and conditions agreed herein
                                         (the “Asset Purchase”).

 

NOW, THEREFORE,
the Parties hereby enter into the Agreement in respect of the Acquired Assets.

 

Section
1 Definitions

 

For purpose
hereof, the following terms shall have the following meanings:

 

Acquired
Assets has the meaning set forth in Section 3.1 hereof.

 

Closing
Date has the meaning set forth in Section 7.1 hereof.

 

Consideration
has the meaning set forth in Section 4.1 hereof.

 

Government
Authority has the meaning set forth in Section 5.3(3) hereof.

 

Working
Day means a day on which banks are open for business in the PRC (excluding Saturdays and Sundays).

 

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Section
2 General Provisions of Acquisition

 

2.1         Sale and Purchase of Acquired Assets. Subject to the terms and conditions set forth herein, the Seller shall sell to the Buyer,
and the Buyer shall purchase from the Seller, the Acquired Assets. On and from the Closing Date, the Buyer shall be entitled to
all ownership, rights and interests of the Acquired Assets and be liable for all risks, indebtedness, liabilities and obligations
in connection with the Acquired Assets, and the Seller shall no longer be entitled to all ownership, rights and interests of the
Acquired Assets or be liable for any risks, indebtedness, liabilities and obligations in connection with the Acquired Assets,
except for those risks, indebtedness, liabilities and obligations in connection with the Acquired Assets as a result of any causes
arising prior to the Closing Date under Section 2.3 hereof, in which case the Seller shall still be liable for the related risks,
indebtedness, liabilities and obligations and the Buyer agrees to make efforts in good faith to, or cooperate with the Seller
to, reduce any loss suffered by any Party or both Parties resulting from such risks, indebtedness, liabilities and obligations
(any reasonable and necessary expenses or costs incurred by the Buyer for taking such acts shall be borne by the Seller), and
any compensation for any loss of the Seller arising out of the Buyer’s negligence in acting shall otherwise be agreed by
the Parties through consultations within the scope of the agreed-to-be-transferred business pursuant to the Business Transfer
Agreement (as defined below) otherwise executed by the Parties hereto.

 

2.2         No Security Interests. The Seller shall ensure that the ownership of the Acquired Assets on the Closing Date is not subject to
any mortgage, pledge, lien or other security interests or any third party rights, except for those that have been disclosed by
the Seller to the Buyer with written consent from the Buyer as of the date hereof.

 

2.3         Closing. The Acquired Assets shall be deemed to have been transferred to the Buyer on the Closing Date whenever the completion
of transfer formalities for the Acquired Assets happens. Prior to the Closing Date, all risks, indebtedness, liabilities and obligations
arising from the Acquired Assets or the business of Renren.com carried out by the Seller shall be borne and assumed by the Seller.
For the avoidance of doubt, after the Closing Date, if, in absence of any fault of the Seller, any third party insists that the
Seller continue to assume or discharge any risks, indebtedness, liabilities or obligations related to the Acquired Assets, the
Buyer shall provide reasonable cooperation at good faith, and each Party shall bear any expenses that shall be borne by it in
accordance with applicable laws and receive any income that it shall be entitled by bearing the such expenses, unless otherwise
agreed by the Parties.

 

2.4         Authorization after Closing. (1) The Buyer agrees that the Seller, with the approval from the Buyer, shall have the right to use
the trademarks set forth in Schedule III within the scope of industries that do not compete with the Buyer’s businesses
including but not limited to Internet advertising business, value-added telecommunications business and Internet cultural service.
Prior to the date of this Agreement, as otherwise agreed in writing by the Buyer, the Buyer may choose to continue the trademark
authorization granted to any third party within the period approved by the Buyer and within the scope of the Seller’s trademark
authorization to third parties as disclosed by the Seller to the Buyer in Schedule IV, as specified in any formal agreement executed
by relevant parties; (2) the Seller agrees that if title transfer cannot be completed in respect of some intellectual properties
of the Acquired Assets until completion of amendment registrations therefor (“Registration-required Assets”),
prior to relevant registrations, the Seller shall enter into relevant agreements with the Buyer to grant the Buyer unconditional
authorization or license to use such intellectual properties free of charge (for the avoidance of doubt, any such authorization
or license made by the Seller in respect of any trademark shall be limited to authorizing or licensing the Buyer to use such trademark
within the scope of the category of such four-digit number that the trademark is categorized under the PRC law).

 

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Section
3 Acquired Assets

 

3.1       
Acquired Assets. The Acquired Assets refer to all assets owned by the Seller that are related to the business of Renren.com and
any rights and interests thereto, including but not limited to:

 

(1)    
all assets listed in Schedule I hereto, including but not limited to all fixed assets and intangible assets including but not
limited to related domain names, APPs, patents, computer software copyrights, trademarks, trademark application rights, technical
secrets, computer programs, non-patented technologies, know-hows, qualifications, licenses, historical pictures, video materials
and all existing data and historical data, involved in the Seller’s operation of Renren.com; provided that such assets shall
be sufficient to ensure that Renren.com is able to function properly according to its current operating standards and any absence
of any assets owned originally by the Seller or its affiliates in such assets shall not have any adverse effect on Renren.com’s
normal operation according to its current operating standards;

 

(2)    
Documents and records. all business records, financial and accounting records, operating records, operational data, operational
statistics, training manuals and all related documents, records, data, logs, manuals and materials (whether in writing or stored
in a computer electronically) or their true, accurate and complete copies that are used by the Seller in connection with the Acquired
Assets and related businesses;

 

(3)    
Rights and claims. all warranties, claims, indemnity rights, right of set-offs, creditor’s rights and other similar rights
relating to or arising from the Acquired Assets, including but not limited to all benefits and all rights thereto obtained or
entitled in connection with the Acquired Assets under all third-party property insurance and accident insurance, excluding any
indebtedness or liabilities in respect of the Acquired Assets incurred on or before the Closing Date or resulting from any cause
on or before the Closing Date.

 

3.2
The Parties acknowledge that, unless otherwise provided herein or otherwise agreed in writing by the Parties, the Seller shall
not transfer any debts to the Buyer in the Asset Purchase and the following debts or liabilities shall be borne by the Seller:

 

(1)    
All debts or liabilities incurred on or before the Closing Date or arising from any cause on or before the Closing Date, including
but not limited to any liabilities to be assumed by the Seller or the Buyer as a result of any violations of any laws or regulations
by the Seller during its business operations on or before the Closing Date; provided that (i) if the Buyer’s reluctance
to accept the employees listed in Schedule VI results in any severance compensation (if applicable) by the Seller to such employees,
the Buyer shall compensate the Seller in full in respect thereof; (ii) if, in absence of any fault of the Seller, any counterparty
to any contract in respect of any Acquired Asset insists that the Seller continue to perform or assume the obligations under such
contract, the Buyer shall provide reasonable cooperation in good faith, and each Party shall bear any expenses that shall be borne
by it in accordance with applicable laws and receive any income that it shall be entitled by bearing the such expenses, unless
otherwise agreed by the Parties

 

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(2)    
All debts or liabilities of the Seller in respect of tax;

 

(3)    
All debts or liabilities including tax liabilities (whenever such debts or liabilities are made or occurred) arising out of or
relating to: (i) any employment by the Seller of any person or any service provision by such person before termination of employment
contract or service contract with the Seller, or termination of any employment with any person or termination of any service provided
by such person; (ii) any right to claim by any employee against the Seller before the Seller terminates the employment contract;
(iii) any dispute arising from any employee benefit plan before any termination of employment contract with the Seller, including
but not limited to the default or missed payment of social insurance and housing fund. For the avoidance of doubt, if such debt
or liability arises from any cause before the termination of the employment contract or service contract with the Seller by such
employee or service provider, the debt or liability shall be the responsibility of the Seller; provided that if any former employees
of the Seller enters into an employment contract or establish service relations (the “New Employment”) with
the Buyer or any of its affiliates, the Seller shall not be liable for any debts or liabilities of the Buyer relating to the New
Employment. The Seller shall only assume the liabilities that shall be assumed by the Seller before termination of employment
relationship between the related employee and the Seller.

 

Section
4 Consideration and Payment

 

4.1        Consideration. The Parties hereto agree that the price of the Asset Purchase (the “Consideration”) shall be
an amount denominated in RMB equivalent to US$20,010,000, calculated based on the medium rate of exchange of US dollar to RMB
published by the People’s Bank of China on each payment date.

 

The
Consideration shall be paid in accordance with the provisions of Section 4.2 hereof.

 

4.2        Payment. On the payment date under the Agreement, if there is no violation or dissatisfaction by the Seller of or no obvious evidence
from the Buyer that the Seller will not satisfy the conditions to Buyer’s performance of obligations as specified in Section
7.2 hereof, or any such violation, dissatisfaction or evidence has been waived in writing by the Buyer, the Buyer shall:

 

(1)
pay US$10,000,000 equivalent of RMB on or before December 31, 2018;

 

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(2)
pay US$5,000,000 equivalent of RMB on or before February 1, 2019; and

 

(3)
pay US$5,010,000 equivalent of RMB on or before March 1, 2019.

 

The
Consideration shall be paid to the following account of the Seller:

 

	Bank
    Name	China
    Merchants Bank, Beijing East Third Ring Branch
	Account
    Name	Beijing
    Qianxiang Wangjing Technology Development Co., Ltd.
	Account
    Number	110906269610601

 

Section
5 Seller’s Representations and Warrants

 

The
Seller, in addition to those that have been disclosed in the Disclosure Letter attached as Schedule V, hereby represents and warrants
to the Buyer and in favor of the Buyer as in the following Sections 5.1, 5.2, 5.3, 5.7, 5.8, 5.9, 5.10 and 5.13 on the date hereof
and the Closing Date, and represents and warrants to the Buyer and in favor of the Buyer on the Closing Date under the Agreement
that:

 

5.1        Organization. The Seller is a limited liability company duly organized and validly existing under the laws of the PRC. It has
the full power and authority to own, use, benefit from and operate its properties, to engage in the business it currently carries
out and to perform its obligations hereunder and any ancillary documents that it may enter into in accordance with the provisions
hereof.

 

5.2        Authorization and Enforceability. The Seller has all necessary rights, powers and authority to conclude, execute, deliver and
perform the Agreement and any other documents required to perform the Agreement. The Agreement and any such other documents, upon
coming into effect, shall constitute legal, valid, binding and enforceable agreements for the Seller.

 

5.3        No Violation or Default. No execution, delivery and performance hereof by the Seller shall contravene or result in a breach of
any of the following provisions, or constitute a default (or result in exercising any right to terminate in accordance therewith)
or a violation of any of the following:

 

(1)    
the Seller’s business license, Sections of association or other constitutional documents;

 

(2)    
any contract to which the Seller is a party;

 

(3)    
any PRC law, or any judgment, order, ruling or decree issued by any court, other tribunal, government or governmental agency,
department, committee or other organizations or institutions (the “Government Authority”) that has jurisdiction
over the Seller or any assets owned by it.

 

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5.4        Ownership and No Security Interests. On the Closing Date, the Seller has the ownership over the Acquired Assets, which shall not
be subject to any mortgage, pledge, lien or other security interests or any third party rights, and the ownership of the Acquired
Assets shall be deemed to have been transferred in full to the Buyer on the Closing Date.

 

5.5        Status of Acquired Assets. All relevant assets are used and maintained in accordance with generally accepted standards and are
sufficient to satisfy the needs of the Seller’s continued operation of Renren.com on and before the Closing Date and the
Buyer’s continued operation of Renren.com after the Closing Date in accordance with the Seller’s daily operating standards
prior to the Closing Date (and if there is any change of law or other force majeure that causes the Acquired Assets and the acquired
business unable to be operated in accordance with the Seller’s daily operating standards prior to the Closing Date, the
Seller shall not assume any liabilities) and will not have any changes that have adverse effect to the Buyer’s receipt,
holding, use, and disposal of the Acquired Assets and relevant assets will not become obsolete, invalid or unusable during their
normal use period. Except as otherwise agreed herein, any form of intangible assets of the Acquired Assets, including but not
limited to related domain names, APPs, patents, computer software copyrights, trademarks, trademark application rights, technical
secrets, computer programs, non-patented technologies, technical know-hows, historical pictures, video materials and all existing
data and historical data, after the transfer of relevant assets, shall not in any form be occupied, used or authorized to any
third party to occupy or use, except as provided in Section 2.4 hereof. The Seller undertakes to keep the content of such intangible
assets (the “Confidential Information”) permanently confidential to third parties, provided that the Seller
shall not be deemed to have violated the confidentiality obligation provided in this section if: (1) such Confidential Information
has come into public domain not due to the Seller’s violation of the confidentiality obligation provided in this section;
(2) the Seller is made to disclose the Confidential Information in conflict with this section in accordance with applicable laws
including but not limited to the securities laws and regulations, provided that the Seller shall inform the Buyer of the proposed
disclosure before such disclosure and limit the scope of disclosure to the minimum required by the law; and (3) the Seller discloses
the Confidential Information to its current or prospect investors, employees, investment banks, lenders, partners, accountants
and lawyers in good faith, in each case, disclosure may only be made if such persons or entities have similar confidentiality
obligation as set forth in this section and if such persons or entities breach the obligation of confidentiality, the Seller shall
be deemed to have breached the confidentiality obligation hereunder concurrently.

 

5.6        Ordinary Course of Business. Except as otherwise agreed herein, as of the Closing Date, the Seller still, in the course of its
normal business, based on its past practice and in accordance with applicable laws, operate the normal business of the Acquired
Assets, operate, use and maintain the Acquired Assets and use its best efforts to preserve its complete business structure, maintain
the services provided by its employees, and keep in contact with its clients, lessors, lenders, vendors, distributors, trustors,
trustees and other persons who carry out transactions and establish business relationship with it.

 

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5.7        Government Approvals. In addition to those that have been disclosed to the Buyer, the Seller has obtained all approvals, authorizations,
confirmations, permissions, registrations or other consents (if required) from any government agency in respect of the transfer
of domain name as required by applicable laws, and such approvals, authorizations, confirmations, permissions, registrations or
other approvals remain in effect. For the avoidance of doubt, the Seller specifically acknowledges that the Asset Purchase requires
no or has obtained such approvals, permissions, filings and consents from the relevant regulators of Renren Inc., an overseas
affiliate of the Seller, including but not limited to the US Securities and Exchange Commission and US stock exchanges and has
made relevant information disclosure required at this stage.

 

5.8        Intellectual Property. The seller has disclosed to the Buyer all intellectual property that the Seller owns or has the right to
use in respect of the Acquired Assets, or that are required to operate Renren.com’s business before the transfer of the
operational control of Renren.com to the Buyer, including but not limited to Renren.com-related domain names, APPs, patents, computer
software copyrights, trademarks, trademark application rights, technical secrets, computer programs, non-patented technologies,
technical know-how, historical pictures, video materials and all existing data and historical data. The operation of Renren.com
and the use of the Acquired Assets by the Seller before the transfer of the operational control of Renren.com to the Buyer, or
the transfer of the Acquired Assets including such intellectual property or the use rights in respect thereof, do not infringe
any patents, trademarks, copyrights, service marks, technical secrets, proprietary technologies or any other third party’s
intellectual property rights.

 

5.9        Litigation. (1) Except as already disclosed to the Buyer, to the knowledge of the Seller, there are no legal actions, claims or
requirements pending or threatened against the Seller for purpose of limiting or prohibiting the completion of the Asset Purchase
to obtain compensation, and there are no government order issued by a Government Authority with jurisdiction that has come into
effect to restrict or otherwise prohibit the Asset Purchase. For purpose of the preceding sentence, “to the knowledge”
means the Party’s actual knowledge after due and prudent inquiries to such management, directors and other employees as
the Party may reasonably believe to be aware of the information, or (2) except as already disclosed to the Buyer, there are no
litigations, arbitrations, trials, investigations or other proceedings that arise not in its daily operation and that, if an adverse
award is make, would adversely affect the Acquired Assets and liabilities.

 

5.10       Financial data. The Seller commits that the financial data provided by it to the Buyer in respect of the Acquired Assets are true,
complete, accurate and valid, that there are no circumstances of false information, material omissions or inconsistencies with
facts in any form, and that the Seller shall bear any loss suffered by the Buyer arising out of such false information, material
omissions or inconsistencies with the facts.

 

5.11      Information Protection. The Seller complies with the provisions under the information protection laws and administrative regulations
of the PRC in operating the business of Renren.com. There are currently no claims, litigations, arbitrations, trials, investigations
or other proceedings arising from the violation of information protection laws and regulations in respect of the Acquired Assets
or the operation thereof.

 

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5.12       No material changes. In addition to the purchase contemplated by the Agreement, (i) the Seller only carries out business during
ordinary course of business, and (ii) no event, change or situation that, alone or together with any other events, changes or
situations, has or is reasonably expected to have a material adverse effect on the Seller, the Acquired Assets and/or the purchase
contemplated by the Agreement has occurred.

 

5.13      Full disclosure. No representations and warranties provided by the Seller hereunder and no other documents, certificates and materials
provided hereunder have made any untrue statements about any material facts or matters, or made any material facts concealed or
misleading. Except as disclosed in the Disclosure Letter attached as Schedule V, the Acquired Assets and the Asset Purchase do
not have any existing or potential risks, including risks in the business, financial and legal respect, in accordance with applicable
laws, including but not limited to the PRC laws.

 

Section
6 Buyer’s Representations and Warranties

 

The
Buyer hereby represents and warrants to the Seller and in favor of the Seller on the date hereof and the Closing Date that:

 

6.1         Organization. The Buyer is a joint stock company duly organized and validly existing and in good standing under the laws
of the PRC with limited liabilities. It has the full power and authority to perform its obligations hereunder and any ancillary
document that it may enter into in accordance with the provisions hereof.

 

6.2         Authorization and Enforceability. The Buyer has all necessary powers and authority to conclude, execute, deliver and perform
the Agreement and any other documents required to perform the Agreement. The Agreement and any such other documents, upon coming
into effect, shall constitute legal, valid, binding and enforceable agreements for the Seller.

 

6.3         No Violation or Default. No execution, delivery and performance hereof by the Buyer shall contravene or result in a breach
of any of the following provisions, or constitute a default (or result in exercising any right to terminate in accordance therewith)
or a violation of any of the following:

 

(1)    
the Buyer’s business license, articles of association or other constitutional documents;

 

(2)    
any material contract executed by the Buyer, except that the Buyer has or is obtaining the consent from the other parties to the
contract; or

 

(3)    
any PRC law, or any judgment, order, ruling or decree issued by any Government Authority that has jurisdiction over the Buyer
or any assets it owned by it.

 

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6.4         Payment of Consideration. After the terms and conditions agreed herein are fulfilled, the Buyer shall pay the Consideration
for the purchase promptly in full pursuant to the agreements hereunder.

 

Section
7 Closing and Closing Conditions

 

7.1        Closing. The expected purchase hereunder shall be completed (the “Closing”) on the date of the completion of
transfer of the relevant domain name (the “Domain Name”) in the Acquired Assets set forth in Schedule I to
the Buyer or its designated affiliate (the “Closing Date”). Within 30 days from the Closing Date, the Seller
shall submit to the relevant Government Authority for registrations, filings and other formalities in respect of the change of
ownership of the Acquired Assets other than the Domain Name, and the Buyer shall cooperate in good faith in respect thereof. If
the Buyer is required to apply for or obtain relevant qualifications from any Government Authority for the completion of the transfer
of the Acquired Assets, the Seller shall, if required, provide cooperation in good faith, including but not limited to moving
relevant domain name out from the Seller’s relevant qualification or license as required by the Buyer, and, if necessary,
cooperating with the Buyer to complete formalities for registration of the relevant domain name under the Buyer’s name,
provided that such cooperation shall not cause any costs, expenses or losses that, at the Seller’s reasonable discretion,
are unaffordable to the Seller.

 

The
Seller and the Buyer or their respective affiliates shall agree on the transfer and handover of the business in respect of the
Acquired Assets and execute a written agreement (the “Business Transfer Agreement”). The application by the
Seller for the Domain Name transfer to the relevant Government Authority shall be subject to the execution of the Business Transfer
Agreement which shall automatically take effect on the Closing Date agreed upon in the Agreement.

 

7.2        Conditions to Buyer’s Performance of Obligations

 

The
Buyer’s obligation to commence and complete the Closing is subject to the fulfillment of the following conditions on or
before Closing; or, at the Buyer’s discretion, subject to the waiver by the Buyer of such conditions for Closing:

 

		(1)	Representations
                                         and Warranties

 

On
the date hereof and the Closing Date, all representations and warranties made by the Seller herein and in the relevant agreements
in connection with the Agreement shall be true and correct, as if they were made on the Closing Date, except for those representations
and warranties that are expressively provided as being made on another date, in which case the Seller’s representations
and warranties shall be deemed as if they were made on that specific date.

 

		(2)	Performance

 

The
Seller shall have fully performed and complied with all agreements, obligations, undertakings, warranties and conditions required
hereunder that it shall perform or comply with at or before the Closing.

 

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		(3)	Material
                                         Adverse Effect

 

No
events shall have occurred from the execution hereof to the Closing Date which may have a material adverse effect on the Acquired
Assets and related businesses.

 

		(4)	Sale
                                         and Transfer Certificate

 

For
all Acquired Assets, the Seller shall have executed a sale and transfer certificate (the “Sale Certificate”)
substantially in the form and content as set forth in Schedule II hereof on or before the Closing Date and have delivered the
Sale Certificate to the Buyer.

 

7.3            Conditions to Seller’s Performance of Obligations

 

The
Seller’s obligation to commence and complete the Closing is subject to the fulfillment of the following conditions at or
before the Closing; or, at the Buyer’s discretion, to the waiver by the Buyer of such conditions for the Closing:

 

		(1)	Representations
                                         and Warranties

 

On
the date hereof and the Closing Date, the representations and warranties made by the Buyer herein and in the relevant agreements
in connection with the Agreement shall be true and correct, as if they were made on the Closing Date, except for those representations
and warranties expressively specified as being made on another date, in which case the Seller’s representations and warranties
shall be deemed as if they were made on that specific date.

 

		(2)	Performance

 

The
Buyer shall have performed and complied with all agreements, obligations, and conditions required hereunder that it shall perform
or comply with at or before the Closing in all material aspects.

 

Section
8 Undertakings

 

8.1        Further
Assurance. The Seller and the Buyer hereby agree to cooperate with each other and to complete any and all pending work relating
to the transaction contemplated by the Agreement as soon as possible without paying further consideration. For this purpose, both
Parties hereto shall take or procure to take all necessary actions, including but not limited to: (1) completing the delivery
and transfer formalities in respect of the Acquired Assets; and (2) executing and delivering all agreements including but not
limited to the Business Transfer Agreement, documents and certificates to be executed or delivered by both Parties; and (3) applying
to, filing with or obtaining from any Government Authority or any third party (as the case may be) for all required notices, permits,
approvals, authorizations, consents, files and registrations authorized, filed or issued by such Government Authority or third
party, to ensure full effect of the terms hereof. Any matters that must be resolved in effecting the Agreement but not covered
by the Agreement shall be resolved in a fair, equal and appropriate manner through consultations by the Parties hereto.

 

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8.2        Notice of Adverse Changes. The Seller shall immediately notify the Buyer in writing of any circumstances that may have a material
adverse effect on the transaction contemplated hereunder or the Acquired Assets after the date hereof but before the Closing Date.
Such circumstances shall include but not limited to any litigations, arbitrations, trials, investigations or other proceedings
against the Seller that may have a material adverse effect on the transaction contemplated hereunder, or any approval or direction
from any Government Authority, or any loss or damage to any of the Acquired Assets.

 

8.3        Employee

 

The
Seller shall assist in the transfer, under the consent of the Buyer, of the corresponding employees in respect of the Acquired
Assets to the Buyer or its actually controlled affiliates to be managed by the Buyer. The specific employee list is detailed in
Schedule VI. The Seller shall ensure that each of such employees has signed an employment termination agreement with the Seller,
and that the social security fees and housing fund of the employee before the termination of employment with the Seller or the
affiliate have been borne by the seller.

 

8.4        Other assistance

 

The
Seller shall assist the Buyer in getting in touch with the original suppliers, partners and distributors of the Acquired Assets,
and make commercially reasonable efforts to enable the Buyer to carry out the business related to the Acquired Assets after Closing;
the Seller shall make commercially reasonable efforts and procure the counterparties to agree to transfer the outstanding rights
and obligations under the contracts and agreements in connection with the Acquired Assets to the Buyer or its actually controlled
affiliates.

 

Section
9 Indemnity, Breach of Contract Liability and Termination

 

9.1        Seller’s Indemnity Liability. the Seller agrees to indemnify the Buyer from and against all demands, claims, actions, losses,
liabilities, compensations, costs and expenses directly or indirectly assumed or suffered by the Buyer resulting from matters
arising from the Seller’s breach of any of its representations, warranties, undertakings or agreements hereunder and to
compensate the Buyer for all losses suffered therefrom. After the Buyer receives the Acquired Assets, if a third party makes any
claims against the Buyer in respect of the Acquired Assets and such claims are based on any condition of the Acquired Assets before
the Closing Date, the Seller shall, whether it has breached any of its representations, warranties, undertakings or agreements
hereunder, take actions to exempt the Buyer from compensation or to indemnify the Buyer against any loss suffered by the Buyer
as a result of such claim. The Buyer agrees to make efforts in good faith to reduce or cooperate with the Seller to reduce any
loss that such risks, indebtedness, liabilities and obligations may have on any Party or both Parties with reasonable and necessary
expenses or costs incurred by the Buyer for such efforts born by the Seller and any compensation for the Seller’s losses
arising from the Buyer’s negligence in making such efforts shall be agreed by the Parties through consultations in accordance
with the Business Transfer Agreement entered into separately by the Parties within the scope of the agreed-to-transfer business.

 

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9.2        Buyer’s Indemnity Liability. the Buyer agrees to indemnify the Seller from and against all demands, claims, actions, losses,
liabilities, compensations, costs and expenses directly or indirectly assumed or suffered by the Seller or made against the Seller
arising from the Buyer’s breach of any of its representations, warranties, undertakings or agreements hereunder and to compensate
the Seller for all losses suffered therefrom. Any claim made under this section shall be made in writing to the Buyer and shall
be accompanied by a reasonably detailed description of the facts and situations that caused the claim. If the Buyer fails to pay
the Consideration on time in accordance with Section 4.2 hereof, the Buyer shall pay an overdue fee equal to 0.3‰ of the
outstanding Consideration to the Seller or any designated affiliate of the Seller.

 

9.3        Termination upon Failure of Closing. In case the Closing and Closing Conditions agreed in Section 7 hereof fail to be fulfilled,
if the failure is caused by one Party, the other Party shall have the right to request termination hereof; and if the failure
is caused by both Parties, either Party shall have the right to request termination hereof. If the Agreement is terminated for
the above reasons, each Party shall return the other Party all of the considerations or assets obtained from the other Party,
and shall be liable for indemnifying the other Party against any losses (if any) incurred by it, except as otherwise agreed on
the indemnity liability in the Agreement. For the avoidance of doubt, after the Closing Date, both Parties shall procure in an
active manner to complete the follow-up formalities hereunder and shall not terminate the Agreement unless agreed by the other
Party or otherwise agreed herein.

 

9.4        Other. If any Party hereto violates any of its obligations or undertakings hereunder, or any of its representations and warranties
made hereunder are found to be inconsistent with the facts or misleading, whether in good or bad faith, in addition to the indemnity
liability provided herein, the non-defaulting Party shall have the right to demand remedy by the defaulting Party within 30 days.
If the defaulting Party fails to remedy within the time limit, the non-defaulting Party shall have the right to rescind the Agreement.

 

 

Section
10 Tax Matters

 

10.1        Tax. The Parties hereto shall be responsible for their respective income tax, stamp duty or other taxes arising from the Asset
Purchase in accordance with the laws and administrative regulations of the PRC.

 

Section
11 Governing Law and Dispute Resolution

 

11.1        Governing Law. The execution and performance hereof shall be governed by and construed in accordance with PRC law.

 

11.2        Disputes Resolution. Any dispute arising out of or in connection with the Agreement shall be resolved through friendly consultations
by the Parties. If the dispute fails to be resolved through friendly consultations, either Party shall have the right to submit
it to the China International Economic and Trade Arbitration Commission for arbitration in Beijing pursuant to the arbitration
rules in force at the time of the arbitration.

 

 

    -12-

     

    

 

Section
12 Other Provisions

 

12.1
        Effectiveness. The Agreement shall come into effect on the date of execution by both Parties hereto and approval hereof by the
shareholders’ meeting resolution/ shareholders’ decision of the Seller.

 

12.2
         Severability; No Waiver. If any term or provision hereof is held invalid or unenforceable by any competent court or any other
Government Authorities, the remaining terms and provisions hereof shall not be affected and shall remain in full validity and
enforceability. Anything in the Agreement shall not render the failure of any Party hereto to require strict performance by the
other Party of any provision in the Agreement to constitute a waiver to such provision, unless a waiver is delivered to such other
Party in writing in respect thereof pursuant to the Agreement.

 

12.3
         Entire Agreement; Amendment; Termination. The Agreement constitutes the entire agreement between the Parties hereto as to its
subject matter hereof and supersedes all prior agreements in respect of the subject matter. The Agreement may not be amended or
ended without the written consent of the Parties to the Agreement. The attachments to the Agreement have the same legal effect
as the Agreement.

 

12.4
         Assignment. Neither Party hereto shall assign the Agreement or any of its rights and interests or liabilities and obligations
hereunder without the prior written consent of the other Party.

 

  12.5          Forms of Documents in Schedules. The forms of the relevant
documents set forth in the Schedules to the Agreement may be amended as required by relevant Government Authorities, in
accordance with changes in the laws and regulations of the PRC, based on the changes in relevant situations or by the consent
of both Parties to the Agreement.

 

12.6
          Language. The Agreement is written in both Chinese and English. In case of any inconsistency between the Chinese and English versions,
the Chinese version shall prevail.

 

12.7
          Originals. The Agreement is made in four originals with equal legal effect. Each Party shall hold two originals.

 

    -13-

     

    

 

IN WITNESS
WHEREOF, this Asset Purchase Agreement has been duly executed by the Parties hereto on the date first written above.

 

 

	Buyer:	Beijing
    Infinities Interactive Media Co., Ltd.
	 	 
	 	 
	 	By:
	 	Name:
	 	Title:

 

    -14-

     

    

 

IN WITNESS
WHEREOF, this Asset Purchase Agreement has been duly executed by the Parties hereto on the date first written above. 

 

	Seller:	Beijing
    Qianxiang Wangjing Technology Development Co., Ltd.
	 	 
	 	 
	 	By:
	 	Name: Yang Jing
	 	Title: Legal Representative

 

    -15-

     

    

 

Schedule I
List of Acquired Assets

 

    -16-

     

    

 

Schedule II

Form
of Sale and Transfer Certificate

 

This
sale and transfer certificate (the “Certificate”) is issued by Beijing Qianxiang Wangjing Technology Development
Co., Ltd. (the “Seller”) to Beijing Infinities Interactive Media Co., Ltd. (the “Buyer”)
on [date].

 

WHEREAS:

 

A.        The Seller and the Buyer entered into an asset purchase agreement (the “Asset Purchase Agreement”) on [date]
2018. Unless otherwise defined in this Certificate, capitalized terms used in this Certificate shall have the meanings ascribed
to them in the Asset Purchase Agreement; and

 

B.        Pursuant to the Asset Purchase Agreement, the Seller agrees to sell, transfer, assign and deliver the relevant assets owned and
the relevant rights and interests thereto entitled by the Seller to the Buyer.

 

NOW,
THEREFORE, the Seller confirms to the Buyer on the Closing Date that:

 

1.        Sale
and Purchase of Assets. Pursuant to the agreement set forth in the Asset Purchase Agreement, the Seller hereby sell, transfer,
assign and deliver to the Buyer the ownership and other rights and interests thereto entitled by the Seller as of the date of
issuing this Certificate in respect of the Acquired Assets without any encumbrance (except for the encumbrances that have been
disclosed to the Buyer).

 

 

 

Beijing
Qianxiang Wangjing Technology Development Co., Ltd.

 

Legal/Authorized
Representative:_____________

 

    -17-

     

    

 

Schedule III
List of Trademarks Authorized by the Buyer to be Used by the Seller within a Specific Scope

 

    -18-

     

    

 

 

Schedule IV
Authorization of Trademarks by the Seller to Third Parties Prior to the Date of the Agreement

 

    -19-

     

    

 

Schedule V
Disclosure Letter

 

    -20-

     

    

 

Schedule VI
List of Employees to be Transferred

 

    -21-Exhibit 4.80

 

Share Subscription Agreement

 

This Share
Subscription Agreement (the “Agreement”) is made on November 13, 2018 by and between:

 

		(a)	Infinities Technology (Cayman) Holding Limited, a limited liability company duly incorporated and
validly existing under the laws of the Cayman Islands (the “Target Company” or “Infinities Technology”);
and

 

		(b)	Renren Inc., a limited liability company duly incorporated and validly existing under the laws
of the Cayman Islands (the “Subscriber” or “Renren”), the stocks of which are currently listed
in the New York Stock Exchange (ticker symbol: RENN).

 

The Target
Company and all other companies directly or indirectly held by it or controlled by it through VIE agreements hereinafter are collectively
referred to as the “Infinities Group.” Renren and all other companies directly or indirectly held by it or controlled
by it through VIE agreements hereinafter are collectively referred to as the “Renren Group.” The Target Company
and the Subscriber shall individually be referred to as a “Party”, together as the “Parties”,
and shall refer to each other as the other Party. Unless otherwise agreed, the defined terms of the Agreement are set forth in
Schedule 1.

 

RECITALS

 

WHEREAS the Subscriber
intends to subscribe for the shares to be issued by the Target Company, while the Target Company intends to issue certain shares
to the Subscriber (the “Subscription of Shares”), in accordance with the terms and conditions agreed herein.
Upon consultations, the Parties hereby enter into the agreements as follows:

 

		1.	Subscription of Shares

 

		1.1	Sale and Issue of Shares to be Subscribed, and Closing Account

 

		(a)	Purchase Price

 

In accordance with the terms and conditions of the Agreement,
at the Closing (as defined below) the Subscriber agrees to subscribe and purchase from the Target Company, and the Target Company
agrees to, subject to the shareholding percentage agreed in Section 1.2, sell and issue to the Subscriber certain shares (the “Target
Shares”), in consideration of the transaction price of Renren.com and all relevant assets under the Assets Purchase Agreement
(the “APA”) attached hereto as Schedule 2 deducting by US$20,000,000 (or equivalent RMB) (the “Consideration”);

 

    	 	1	 

     

    

 

		(b)	Closing Account. The Subscriber shall pay the Consideration to the Target Company by transfer of
immediately available funds to the bank account of the Target Company (the “Closing Account”). The details of
the Closing Account are as follows:

 

	Bank Name	Bank of Beijing Zhongguancun Haidianyuan Branch
	Account Name	Infinities Technology (Cayman) Holding Limited
	Account No.	NRA00038637300024813384

 

		1.2	Shareholding Percentage

 

Pursuant to
the current reorganization arrangement of the Target Company, immediately upon the Closing the Subscriber will hold 5.4054% shares
in the Target Company. For the avoidance of doubt, if prior to the date of the Closing the shareholding structure of the Target
Company is changed resulting from any financing activities with the consent of the Subscriber, the shareholding percentage of the
Subscriber shall be adjusted accordingly.

 

		1.3	Rights of Shares

 

The Target Company warrants that
the Target Shares shall have the same rights and shall fall within the same class as the shares held by the investors of the last
financing round of the Target Company prior to the execution hereof.

 

		1.4	Closing

 

		(a)	The sale and purchase of the Target Shares will take place on the date designated by the Parties by remote exchange of documents,
or on such other dates and at such other places as agreed by the Target Company and the Subscriber, provided however that the Closing
shall take place no later than the date falling 3 months after the execution hereof or on any such other date as agreed by the
Target Company and the Subscriber or as agreed otherwise herein.

 

		(b)	The Target Company shall through “VIE structure” control and actually hold 100% economic interests in Beijing Infinities
Interactive Media Co., Ltd. (“Infinities Media”), and shall comply with all applicable Laws, including but not
limited to completion of relevant registration and filing under the foreign exchange control laws of PRC by the PRC shareholders
that directly or indirectly hold shares in the Target Company (the “VIE Structuring”). All the assets and businesses
under the APA (as shown in the list of assets attached to the APA) shall only be taken over and held by Beijing Infinities Interactive
Media Co., Ltd. unless otherwise agreed by the Parties. If the VIE Structuring fails to be completed within 6 months from the date
hereof or by the time otherwise agreed by the Parties, the Subscriber or its designated Affiliates shall be entitled to directly
hold the shares in Beijing Infinities Interactive Media Co., Ltd., and the fair value of such shares shall equal the Consideration.
The relevant parties may then agree in writing in relation to the details of the matters agreed in this subsection (b).

 

    	 	2	 

     

    

 

		1.5	Steps

 

		(a)	Delivery at Closing

 

		(1)	At the Closing, the Target Company shall deliver to the Subscriber (i) a copy of the updated register
of members indicating the Subscriber as the holder of the Target Shares, which copy shall be certified by the registered agent
of the Target Company; (ii) the duly issued share certificate, setting forth the name of and the Target Shares held by the Subscriber;
and (iii) written evidence proving that the conditions precedent to the Subscriber’s performance of its obligations at the
Closing as set forth in Section 2 hereof have been satisfied or waived.

 

		(2)	At the Closing, the Subscriber shall deliver to the Target Company (i) evidence of payment of the
Consideration by transferring the same into the Closing Account of the Target Company; and (ii) written evidence proving that the
conditions precedent to the Target Company’s performance of its obligations at the Closing as set forth in Section 3 hereof
have been satisfied or waived.

 

		2.	Conditions Precedent to the Subscriber’s Performance of Obligations at the Closing

 

The Subscriber’s
obligations to purchase the Targets Shares at the Closing shall be subject to the satisfaction of the following conditions at or
prior to the Closing, unless otherwise waived by the Subscriber in writing:

 

		2.1	Internal Approvals by Infinities Group

 

The Infinities
Group has obtained all necessary internal approvals in order to approve the Transaction Documents and the transactions contemplated
thereunder, including without limitation, necessary board resolution/executive director’s decision and shareholder resolution/decision
have been passed by the Target Company approving the subscription of shares hereunder, and necessary board and shareholder decisions
have been passed by Infinities Media approving the assets transfer under the APA.

 

		2.2	Due Execution of the Transaction Documents

 

Each of the
parties to the Transaction Documents shall have executed and delivered the Transaction Documents, including but not limited to
the Agreement and the APA.

 

		2.3	No APA Adverse Event

 

Prior to the
date of the Closing, there is no APA Adverse Event as defined in Schedule 1 attached hereto.

 

    	 	3	 

     

    

 

		2.4	Representations, Warranties and No Material Adverse Effect

 

All the representations
and warranties given by the Target Company in Schedule 3 attached hereto shall at the date hereof and the date of the Closing be
true, accurate and complete, and there shall be no Material Adverse Effect event that will make it impossible to realize the intent
hereof.

 

		2.5	Disclosure

 

As of the
date of the Closing, the Target Company shall have fully disclosed to the Subscriber all the information required for the Subscriber
to decide whether to subscribe for the shares, and all the information that the Target Company believes is necessary for the Subscriber
to make such a decision. No representations or warranties given by the Target Company herein or information provided by the Target
Company in relation the Agreement or any agreements contemplated herein shall contain any misrepresentation in connection with
any material facts, nor shall it omit any material facts that shall be or that are necessary to be stated under the circumstance
in order to avoid misleading.

 

		3.	Conditions Precedent to the Target Company’s Performance of Obligations at the Closing

 

The Target Company’s
performance of its obligations to sell to the Subscriber the Targets Shares at the Closing shall be subject to the satisfaction
of the following conditions at or prior to the Closing, unless otherwise waived by the Target Company in writing:

 

		3.1	Internal Approvals by Renren Group

 

The Renren
Group has obtained all necessary internal approvals in order to approve the Transaction Documents and the transactions contemplated
thereunder, including without limitation, necessary board and shareholder decisions have been passed by the Subscriber approving
the subscription of shares hereunder, and necessary board resolution/executive director’s decision and shareholder resolution/decision
have been passed by Beijing Qianxiang Wangjing Technology Development Co., Ltd. (“Qianxiang Wangjing”) approving
the assets transfer under the APA.

 

		3.2	Due Execution of the Transaction Documents

 

Each of the
parties to the Transaction Documents shall have executed and delivered the Transaction Documents, including but not limited to
the Agreement and the APA.

 

		3.3	No APA Adverse Event

 

Prior to the
date of the Closing, there is no APA Adverse Event as defined in Schedule 1 attached hereto.

 

    	 	4	 

     

    

 

		3.4	Representations, Warranties and No Material Adverse Effect

 

All the representations
and warranties given by the Subscriber in Schedule 3 attached hereto shall at the date hereof and the date of the Closing be true,
accurate and complete, and there shall be no Material Adverse Effect event that will make it impossible to realize the intent hereof.

 

		4.	Mechanism to Guarantee Valuation

 

The Parties
agree that if the valuation of the Target Company fails to reach US$700 million at next financing round after the Closing or at
its initial public offering (IPO), the Subscriber will be compensated by certain shares. The amount of such shares will equal the
result of (i) US$40 million, divided by (ii) the price of each share corresponding to the new valuation of the Target Company,
then less (iii) the Target Shares acquired by the Subscriber in the Subscription of Shares. In case of capitalization of
capital reserve, distribution of dividends, share split, allotment of shares or reverse stock split by the Target Company, the
price of each share corresponding to the new valuation of the Target Company as mentioned above shall be adjusted accordingly.

 

		5.	Miscellaneous

 

		5.1	Effect of Agreement

 

The Agreement
shall become effective from the date of execution by the Parties and approval of the Agreement by the shareholder resolutions (or
approval by internal competent bodies, if no shareholder resolution is required for the execution hereof in accordance with applicable
Laws or corporate governess) of both the Target Company and the Subscriber. If the Closing fails to take place at the expiry of
6 months after the execution hereof, either Party may terminate the Agreement; provided, however, that such failure
of the Closing shall not be attributable to this Party.

 

		5.2	Confidentiality

 

		(a)	Disclosure of terms of the agreement: Any terms and term sheet of the Agreement in connection with
this transaction or the terms and content of the memorandum of understanding, all schedules to the Agreement, and the transaction
contemplated hereunder (collectively “Transaction Terms”), and the existence of Transaction Terms shall be treated
as confidential information and shall not be disclosed by any Party to any third party except for those listed in the following
subsections.

 

		(b)	Authorized disclosure of information. Notwithstanding the foregoing, either Party may disclose
the Transaction Terms to its current shareholders, employees, bankers, borrowers, accountants and legal counsels, and the foregoing
individuals shall have the confidentiality obligations that are substantially the same as provided in this section; or disclosure
may be made with the written consent of the other Party, which consent has not been revoked. In addition, subject to the satisfaction
of Section 5.2(c), either Party may also disclose information in accordance with applicable and governing Laws.

 

    	 	5	 

     

    

 

		(c)	Mandatory disclosure. If either Party is requested or required mandatorily by law (including but
not limited to any tax, securities or other laws and regulations in any jurisdiction that can be invoked) to disclose the existence
of the Agreement or the content of any Transaction Terms, this Party (the “Disclosing Party”) is exempt from
the foregoing confidentiality obligations.

 

		(d)	Other exceptions: the confidentiality obligations shall not extend to the information that (i)
has been obtained by the restricted Party from a third party that has right to disclose such information, and such third party
has complied with relevant restrictive provisions; (ii) has been legally possessed by the restricted Party before it is provided
to the restricted Party; or (iii) has entered into public domain without breaching the confidentiality obligations on the part
of the restricted Party.

 

		5.3	Assignment; Succession and Delegation

 

Unless otherwise
provided, the terms of the Agreement shall be binding upon the successors and permitted assignees of the Parties. Unless expressly
provided herein, no term of the Agreement shall expressly or impliedly confer to any party other than the Parties, or their respective
successors any rights, remedies, obligations or liabilities under or based on the Agreement.

 

		5.4	Applicable Law

 

This Agreement
shall be governed by and construed in accordance with the substantive Laws of HK.

 

		5.5	Headings and Sub-headings

 

The headings and sub-headings used
herein shall be for convenience only and shall not be deemed as the interpretation or explanation of the Agreement.

 

		5.6	Notice

 

All notices
or any other forms of communications made under or in accordance with the Agreement shall be made in writing, addressed according
to the notice information as set forth in Schedule 4 attached hereto, and shall be deemed given: (a) if by personal delivery, when
the Agreement is placed at the party to be notified; (b) if by fax, when the confirmation of transmission is received if sent in
the normal working hours of the recipient, or the next Working Day if not sent in the normal working hours of the recipient; (c)
if by pre-paid and receipt required registered mail or guaranteed mail, the fifth (5th) day after posting; or (d) if by a nationally
recognized overnight courier and expressly indicated delivery on the next day as evidenced by written receipt, one (1) day after
given to the courier. Any communications shall be sent to the addresses of the contracting parties set forth in Schedule 5 or the
fax numbers or addresses as changed in writing in accordance with Section 5.7.

 

    	 	6	 

     

    

 

		5.7	Expenses

 

Unless otherwise
agreed herein, each of the Parties will be responsible for the costs and expenses in relation to the transaction hereunder (including
but not limited to the negotiation, preparation, execution, delivery and performance of the Agreement and any taxes resulting from
such transaction).

 

		5.8	Legal Fees

 

If it is necessary
to take any action at law or equity (including arbitration) for the performance or interpretation of any Transaction Documents,
the winning party is entitled to claim reasonable attorney’s fees, costs and necessary expenditures in addition to any possible
remedies available to it.

 

		5.9	Amendment and Waiver

 

The terms
hereunder shall be amended or waived only with the written consent of the Parties. Any amendment or waiver implemented in accordance
with Section 5.10 hereof shall be binding upon the Parties and any assignees of their respective rights and obligations.

 

		5.10	Severability

 

The invalidity,
illegality or unenforceability of any term hereof shall not affect the validity, legality and enforceability of other terms. However,
if any term of the Agreement is found invalid, illegal or unenforceable in any jurisdiction under the applicable Laws, such term
shall be amended to the minimum extend required by the Laws in such jurisdiction, or if it is impossible to make such amendments,
the invalidity, illegality or unenforceability of such term shall not affect the effect of other terms hereof or the validity,
legality and enforceability of this term in other jurisdictions.

 

		5.11	Entire Agreement

 

This Agreement
(including its Schedules attached hereto), the amended and restated articles of association and other Transaction Documents constitute
the entire and complete understandings and agreements between the Parties in relation to the subject matter hereof, and any other
written or oral contracts between the Parties in relation to the subject matters hereof are expressly deemed void.

 

		5.12	Dispute Resolution

 

		(a)	Any dispute, controversy or claim in relation to the Agreement or the interpretation, breach, termination
or validity hereof shall first be resolved by relevant parties to such dispute, controversy or claim through consultations. Such
consultations shall commence within seven (7) days from the written request for such consultations given by one Party to the other
Party. If such dispute fails to be resolved within thirty (30) days after commencement of such consultations, upon request of one
Party and with notice to the other Party, such dispute shall be submitted to arbitration.

 

    	 	7	 

     

    

 

		(b)	Arbitration shall be administered by China International Economic and Trade Arbitration Commission
in Beijing in accordance with its arbitration rules then in effect.

 

		(c)	The Parties shall cooperate with each other in respect of, fully disclose and give full access
to the information or documents requested by other Party and in relation to the arbitration proceeding, provided that such cooperation
shall only be subject to any binding confidentiality obligations of the Parties receiving such request.

 

		(d)	The award of the arbitration tribunal shall be final and binding upon the Parties to such dispute.
Any Party thereto has right to apply to a court with competent authority to enforce such award.

 

		(e)	To the extent possible, prior to the formation of arbitration tribunal, any Party to such dispute
may apply to any competent court for a preliminary injunction relief.

 

		5.13	Cumulative Rights

 

In the event
of breach, any or all rights, powers and remedies of one Party shall be deemed cumulative with any other rights, powers and remedies
available to this Party at law or equity. The exercise or partial exercise of any rights, powers or remedies shall not exclude
the exercise of other rights, powers or remedies, nor shall the Party be deemed to have waived any other rights, powers or remedies
exercisable. Without prejudice to the foregoing, the Parties hereto acknowledge and agree that irreparable damage may occur which
cannot be fully indemnified by monetary compensation if any specific term of the Agreement fails to be performed or if any other
forms of breaches take place. Therefore, the Parties mutually agree that the Parties have right to prevent breach by way of injunction
and demand enforcement of the specific terms and provisions of the Agreement.

 

		5.14	No Waiver

 

The failure
to insist strict compliance with any terms, provisions or conditions of the Agreement will not be deemed a waiver of such terms,
provisions or conditions. One single or several waiver or discharge of or failure to strictly abide by any rights, powers or remedies
hereunder shall be deemed waiver of such powers, rights or remedies at any other time.

 

		5.15	No Presumption

 

The Parties
hereto acknowledge and confirm that if any applicable Laws provide that any disputable or ambiguous terms of the Agreement shall
be interpreted against the Party who drafted it, such provision shall not be applied and the Parties hereby expressly waive the
application of such provision. If a Party makes any claim with respect to any conflict, omission or ambiguity of any term hereof,
no Party shall be presumed to have the burden of proof simply because the Agreement is drafted by or in accordance with the requirements
of a Party or its legal counsel.

 

    	 	8	 

     

    

 

		5.16	Reliance

 

The Subscriber
acknowledges and confirms that it does not rely on any other Person, company or legal person other than the Target Company and
its employees and director when it invests or decides to invest in the Target Company.

 

		5.17	Termination of the Agreement

 

		(a)	The Agreement may be terminated in the event of the following prior to the Closing:

 

		(1)	termination in accordance with Section 5.1 hereof;

 

		(2)	termination upon mutual written consent of the Parties hereto;

 

		(3)	if either Party materially breaches or violates any representations or warranties, undertakings
or agreements hereunder or any other Transaction Documents, and fails to remedy the same within thirty (30) Working Days upon written
notice to the defaulting party by the non-defaulting party, or it is impossible to remedy the same, termination by the non-defaulting
party;

 

		(4)	in case of any event, circumstance or change, and such event, circumstance or change individually
or jointly with other one or more events, circumstances or changes will have or may be reasonable expected to have Material Adverse
Effect, termination by a Party hereto; or

 

		(5)	there is any APA Adverse Event as defined in Schedule 1 attached hereto.

 

		(b)	Effect of Termination

 

The date when
the Agreement is terminated in accordance with Section 5.17(a) shall be referred to as the “Date of Termination.” The
Target Company and/or the Subscriber shall give immediate written notice to the other Party when terminating the Agreement in accordance
with Section 5.17(a), in which case the Agreement shall be terminated and the purchase of the shares to be subscribed hereunder
shall be cancelled or revoked without any further action of the Parties hereto. After the Date of Termination, the liabilities
and obligations of the Parties hereunder shall be discharged and terminated without any liability on the part of the Target Company
or the Subscriber, provided however that such termination shall not exempt any Party from its liability for breach hereunder. The
provision of Section 5 hereof shall survive the termination hereof.

 

    	 	9	 

     

    

 

		(c)	The parties agree that the closing of the APA is an important precondition to the performance hereof
by the parties hereto. In any event and regardless of whether the Agreement is closed or not, the Target Company has right to terminate
the Agreement and demand the Subscriber to return the Target Shares (including any accrued interests or and any interests generated
and derived therefrom) if there is any APA Adverse Event as defined in Schedule 1 attached hereto, where the Target Company will
refund the Consideration to the Subscriber accordingly. If the Target Company cannot terminate the Agreement or demand the Subscriber
to return the Target Shares (including any accrued interests and any interests generated and derived therefrom) pursuant to applicable
Laws or for any other reasons, the Target Company has right to repurchase such shares (including any accrued interests and any
interests generated and derived therefrom) from the Subscriber at the same amount of the Consideration, when the Subscriber shall
unconditionally provide cooperation in relation to such repurchase. For the avoidance of doubt, after the closing date agreed in
the APA, the Parties shall take initiative to procure the handling of formalities in relation to the APA and the closing of the
Agreement, and shall not unilaterally terminate the Agreement unless with consent of the other Party or as otherwise agreed herein.

 

		5.18	Assets Purchase Agreement

 

If the intent of the Agreement cannot be fulfilled
as a result of any material breach or violation by a Party of any representations or warranties, undertakings or agreements hereunder
or other Transaction Documents, the purchaser (in case of any such breach or violation by Renren)/seller (in case of any such breach
or violation by Infinities Technology) of the APA has right to terminate the APA, when the Parties hereto shall procure relevant
companies within its group to refund to the other party of the APA or its designated Affiliates the assets and consideration received
based on the APA, and shall be liable for any loss incurred by a Party hereto or a party to the APA in accordance with the Agreement
and the APA.

 

		5.19	Exchange Rate

 

The exchange rate hereunder shall be the central parity
rate of US$ against RMB as announced by the People’s Bank of China on the date of payment.

 

		5.20	Language

 

This Agreement is written both in Chinese and English.
In case of any inconsistency between the Chinese version and the English version, the Chinese version shall prevail.

 

		5.20	Originals

 

This Agreement is made in four originals with equal
legal effect. Each Party shall hold two originals.

 

[Signature Page to Follow]

 

    	 	10	 

     

    

 

IN WITNESS WHEREOF, this Share Subscription Agreement has been
duly executed by the Parties hereto on the date first written above.

 

	Target Company:	Infinities Technology (Cayman) Holding Limited
	 	 
	 	 
	 	By:
	 	Name:
	 	Title:

 

Signature Page to Share Subscription Agreement

 

     

     

    

 

IN WITNESS WHEREOF, this Share Subscription
Agreement has been duly executed by the Parties hereto on the date first written above.

 

 

	Subscriber:	RENREN INC.
	 	 
	 	 
	 	By:
	 	Name: James Liu
	 	Title: COO

 

Signature Page to Share Subscription Agreement

 

     

     

    

 

Schedules

 

 

 

	Schedule 1	Definitions
	 	 
	Schedule 2	Assets Purchase Agreement
	 	 
	Schedule 3	Representations and Warranties of the Parties
	 	 
	Schedule 4	Notice Information

 

Schedules

 

     

     

    

 

Schedule 1

 

Definitions

 

“Affiliate”
means, in relation to any given person, any other person which, directly or indirectly through one or more intermediary agencies,
controls, is controlled by or is under the common control of the first mentioned person.

 

“Working Day”
means any day other than a Saturday or Sunday or other days that banks will be closed for business as required or authorized by
Laws of the PRC, HK or the British Virgin Islands.

 

“Execution Date”
means the date on which the Agreement is executed.

 

“HK”
means Hong Kong Special Administrative Region of the PRC.

 

“Law”
means any constitutional provisions, regulations or other laws, rules, decrees, official policies or interpretations of any government
agencies, and any injunctions, judgments, orders, rulings, assessments or writs issued by any government authorities.

 

“Material Adverse
Effect” means (1) any facts, events, changes, circumstances or consequences which individually or jointly with each other
will have or reasonably possibly will have material adverse effect on the operations, operation results, conditions (financial
or otherwise), assets, liabilities, prospects or businesses (currently and proposed to be carried out) of any group company, or
on the capability of any group company to perform its obligations under the Transaction Documents, or on the enforceability of
the Transaction Documents against any group company, (2) any material impairment to the capacity of any contracting party to perform
it obligations under the Transaction Documents, or (3) any material damage to the effectiveness or enforceability hereof or any
other Transaction Documents against any of the contracting parties hereto or thereto.

 

“APA Adverse
Event” means any circumstance when the APA will be cancelled in accordance with the provisions thereof or the transaction
contemplated thereunder fails to be completed as agreed therein.

 

“Person”
means any person, partnership, firm, joint stock company, limited liability company, association, trust, unincorporated organization
or other entities.

 

“PRC”
means the People’s Republic of China, only for the purpose of the Transaction Document, excluding the HK and Macao Special
Administrative Regions and Taiwan.

 

“RMB”
means the legal currency of the PRC.

 

“SA”
means the shareholders’ agreement in the form of Annex B attached hereto that is intended to be made by and among the company,
founders, original shareholders and the Subscriber.

 

“Transaction
Documents” mean the Agreement, APA and the amended and restated articles of association.

 

“US$”
means the legal currency of the United States of America.

 

Schedule 1

 

     

     

    

 

Schedule 2

 

Assets Purchase Agreement

 

Schedule 2

 

     

     

    

 

Schedule 3

 

Representations and
Warranties of the Parties

 

At the date hereof and at the date of the Closing, one Party
hereof for the benefit of the other Party makes the following representations and warranties:

 

1. Organization.
It is a company legally incorporated and validly existing under the applicable Laws, and has full power and authority to perform
its obligations hereunder and any ancillary documents that may be executed pursuant to the terms the Agreement.

 

2. Authorization
and Enforceability. In addition to the internal approvals and external approvals, authorizations, filings and registrations to
be obtained as agreed by the Agreement in connection with the conditions precedent to the Closing, it has all necessary rights,
powers and authorities to enter into, execute, deliver and perform the Agreement and any other documents required for the performance
hereof. The Agreement and any such other documents will constitute legal, valid, binding and enforceable agreements when they become
effective.

 

3. No
Illegality or Breach. Its execution, delivery and performance hereof will not contradict with or result in violation of any of
the following, nor will it constitute a breach of (or result in the exercise of any termination rights in accordance with the provisions
thereof) or contradiction with any of the following:

 

(1) its
business license, articles of association or other constitutional documents;

 

(2) any
contracts to which it is a party; or

 

(3) any
applicable Laws, or any judgments, orders, rulings or decrees issued by any court, other tribunal, government or government agencies,
departments, committees or other organizations or agencies (hereinafter “Government Authority”) that has jurisdiction
over it or any assets owned by it.

 

4. Performance
of the APA. The representations and warranties made by its subsidiary (for the avoidance of doubt, with respect to the Target Company,
means Infinities Media, and with respect to the Subscriber, means Qianxiang Wangjing) under the APA shall be true, accurate, complete,
enforceable and binding. It will, with its full rights and capacity, procure its subsidiary to perform all the obligations under
the APA, and will be jointly and severally liable for any liabilities of its subsidiary under the APA.

 

Schedule
3

 

     

     

    

 

Schedule 4

 

Notice Information

 

If to the Target Company:

 

	Address:	Infinities Media Center, Baosheng East Road, Haidai District, Beijing
	Attention:	Chen Ying
	Telephone:	010-60845018
	Fax:	010-60845018

 

If to the Subscriber:

 

	Address:	5/F, North Wing, 18 Jiuxianqiao Middle Road, Chaoyang District, Beijing
	Attention:	Ren Jintao
	Telephone:	(86 10) 84481818
	Fax:	(86 10) 51085666

 

Schedule 4

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