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China's Twitter-like Sina Weibo files for $500M US IPO |
March 15, 2014
One of China’s most popular social media services, Sina Weibo, filed papers on Friday for an initial public offering in the U.S. with the target of raising US$500 million.The service, often likened to China’s version of Twitter for its 140-character posts, is popular in the world’s most populous country and attracted 129 million users per month at the end of 2013, but there are signs of slowing user growth.In a conference call last month, Sina CEO Charles Chao conceded that competition is tough, with about 20 similar services operating. One of the biggest competitors to Weibo is China-based WeChat, which, like Weibo, claims about 300 million registered users.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2108820/chinas-twitterlike-sina-weibo-files-for-500m-us-ipo.html#tk.rss_all
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