Although Sina Weibo is spreading rapidly in China, investors are concerned about its ability to generate revenue. To address such an issue, Sina Weibo is to launch its own virtual currency. We already reported that the information about its virtual currency named Weibi had been leaked in its wiki page for developers. An industry insider has just pinged us saying Weibi will be soft launched next Monday (18th July).

In just 9 months, Sina Weibo users have increased almost 3 times, from 50 million last October to 140 million recently.  It becomes a popular social network in China for people to follow celebrities and news.   Many white collar users also use it to connect with their personal friends.

But industry experts criticize it lacks a working business model.  The introduction of Weibo virtual currency should help to address such problem.

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Sherman So

Author of Red Wired: China's Internet Revolution, the first book to completely survey the nature of China's internet. (http://redwiredrevolution.com/) She previously was the lead China technology reporter...