Alibaba Group today announced the long-rumored investment in Sina Weibo, the microblogging service under Sina Corp., taking an 18% stake for $586 million. Hence Sina Weibo is valued at approximately $3.26 billion — the market cap of Sina as a whole, including an online news service and Weibo, was about $3.33 billion before the announcement. Alibaba Group is also granted the option to increase its stake in Sina Weibo to 30% at an unspecified time in the future.
The two parties also plan to cooperate on data, online payments, online marketing and user account connectivity, and explore potential in social e-commerce, according to Alibaba’s statement.
Sina Weibo announced 500 million registered users in the past February, with 47 million daily active users, and has rolled out a plenty of advertising products to monetize the leading microblogging service in China.
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.
Monthly Membership
Yearly Membership
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.