Social networking is expanding globally; Facebook is looking at extending into the Chinese market by trying to acquire Zhanzuo.com, the largest social network in China.
"Facebook already boasts more than 100,000 users of its English-language network in China and rumours of its local-language entry were fuelled with the company's recent registration in China of the domain facebook.cn," the Times reported.
Mark Zuckerberg founded Facebook while a student at Harvard, and has been looking for a way to tap into the seven million active users in China. He offered $85 million for Zhangzuo which has about seven million active users.
UPDATE: Facebook denies any deal.
More Stats +/-
50 Examples of Gen-Z Entertainment
Coffee Creamer Capsules
Top 100 Business Trends in August