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Briefing: Weibo acquires top live streaming platform Yizhibo
确认收购一直播发力视频业务 微博Q3月活用户达4.46亿-21st Century Business Herald
What happened: Weibo CEO Wang Gaofei disclosed in a conference call that the Chinese Twitter-like platform has acquired its live streaming partner Yizhibo, formerly a unit of China’s leading video app developer Yixia Technology. The company will try to integrate and optimize the two services in the following one to two quarters, he added. In its 2018 Q3 financial report, Weibo claims a monthly active user base of 446 million in September, up 70 million year on year. Of the total, 93% are mobile users.
Why it’s important: Rumors about Weibo’s acquisition of Yizhibo have been circulating for months, but this is the first time the social-networking platform confirmed the news. The acquisition will help create a stronger social-interaction based business model for both parties where Yizhibo could further leverage Weibo’s huge traffic and massive social influence, and Weibo can continue to gain traction with quality video content. The move also comes against the backdrop of a cooling live streaming market where Yizhibo is suffering from sluggish growth.