Sina Launches Developer Fund for China’s Twitter
Sina, China’s biggest portal, has announced a two billion yuan (US$300 million) fund for developers to create applications for its hugely popular microblog service. From Reuters:
The developers will use an open platform interface to create applications for the microblog, the firm said in a statement.
“An open platform has also been an important way for them to monetize,” said Wallace Cheung an analyst with Credit Suisse.
“They are trying to get a pool of developers so it takes some time to accumulate (that),” Cheung said.
The fund is also supported by venture capital firms such as Sequoia Capital and IDG Capital and will encourage the development of applications for finance, entertainment and games.
China banned Twitter and Facebook last year after unrest in its politically sensitive regions of Tibet and Xinjiang.
Weibo, on the other hand, is carefully monitored and serves as the alternative to Twitter in the country.