Chinese Internet Giant Has High Hopes For Twitter-Like Service
Many use Weibo, the microblogging site owned and operated by Chinese Web portal giant Sina (SINA). The Twitter-like service had more than 50 million users registered at the end of the October quarter.
“It took us 14 months to reach this important milestone compared to the three years Twitter had taken, not to mention we have numerous competitors in the China market,” CEO Charles Chao told investors after reporting third-quarter results. “It speaks for the strength of our miniblog platform and our strong execution ability.”
Paul Keung, who covers the Chinese online space for Oppenheimer, thinks Weibo — micro blog in Chinese — has since expanded to 80 million registered users and could double from there in a year.