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Sina Weibo, China’s Equivalent of Facebook and...
Sina Weibo, China’s Equivalent of Facebook and Twitter, Gets $586M Investment From Alibaba http://t.co/2Quqo9jk7Y
April 29, 2013
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Sina Weibo, China's Equivalent of Facebook and Twitter, Gets $586M Investment From Alibaba
Sina Weibo, the micro-blogging platform that took root among China's white-collar class, may be worth more than $3 billion today after Alibaba agreed to pay $586 million to buy preferred and ordinary shares in the company. The deal creates a strategic alliance between Alibaba, which runs the eBay of China, and Sina Weibo, which is kind of like a Facebook-Twitter hybrid.
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