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Sina looks to cash in on Weibo craze
By Ding Yining |
May 16, 2012, Wednesday
|
Online Edition
Online Edition
SINA Corp, the operator of China's largest Internet portal and the popular microblogging service Weibo, is stepping up efforts to make money out of Weibo.
Company executives however warned of further losses this year due to spending on marketing and technology upgrades for Weibo.
Chief executive officer Charles Chao said at a conference call today after the earnings release that it expects to have 300,000 enterprise Weibo accounts.
The company said earlier this year investment on Weibo will amount to about US$160 million.
Last month, it launched a new version for enterprise accounts, and has signed around 50 advertisers for the microblogging platform.
In the three months ended March 30, Sina's net loss was US$13.7 million, compared with a year-earlier profit of US$15 million.
Advertising income on the social networking platform, though still insignificant at the moment, will start to make bigger contributions to its overall income in the next few quarters.
By the end of March, Weibo had 324 million registered users and about 9 percent are daily users.
Its revenue, mainly coming from online advertising on its portal site, rose 6 percent year on year to US$106.2 million.
Company executives however warned of further losses this year due to spending on marketing and technology upgrades for Weibo.
Chief executive officer Charles Chao said at a conference call today after the earnings release that it expects to have 300,000 enterprise Weibo accounts.
The company said earlier this year investment on Weibo will amount to about US$160 million.
Last month, it launched a new version for enterprise accounts, and has signed around 50 advertisers for the microblogging platform.
In the three months ended March 30, Sina's net loss was US$13.7 million, compared with a year-earlier profit of US$15 million.
Advertising income on the social networking platform, though still insignificant at the moment, will start to make bigger contributions to its overall income in the next few quarters.
By the end of March, Weibo had 324 million registered users and about 9 percent are daily users.
Its revenue, mainly coming from online advertising on its portal site, rose 6 percent year on year to US$106.2 million.
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