Sina Weibo, 'China's Twitter', files for IPO in US to raise $632 million
Published on Mar 15, 2014 10:18 PM
NEW YORK (AFP) - Weibo, the Chinese microblogging service often compared with Twitter, filed on Friday for a US stock offering seeking to raise US$500 million (S$632 million).
The move will allow the popular Chinese-language social network to spin off from the Internet giant Sina, according to documents filed with the US Securities and Exchange Commission.
The filing said Weibo had 129.1 million monthly active users in December and 61.4 million average daily active users.
The company did not indicate whether Weibo would file its IPO on the Nasdaq or New York Stock Exchange.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here