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Sina to up investment in Weibo, ad system after Q4 profit
By Ding Yining |
February 28, 2012, Tuesday
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Online Edition
Online Edition
SINA Corporation, China's leading Internet portal and the most popular microblogging service provider, said it will continue to increase investment in Weibo and launch a self-service advertising system to help brand owners launch marketing campaigns to Weibo users.
Sina returned to profit in the fourth quarter of 2011 as a result of fewer investment write downs and growing advertising income compared to a loss of US$100 million in the same period a year before, according to a stock exchange filing today.
Chief Executive Officer Charles Chao said in a conference call today after the earnings release that the company plans to invest US$160 million in Weibo this year to upgrade infrastructure and build an advertising system.
In the three months ending December 31, its revenue added 21 percent to US$133.4 million and profit was US$9.3 million.
Chao said earlier this month that he aimed at Weibo hosting 1 million enterprise accounts by the end of this year, compared to around 130,000 at present.
Sina will launch a fee-based service for corporate Weibo accounts in the middle of this year for data-mining and analyzing user habits.
Social networking sites like Weibo and Renren.com are becoming increasingly important marketing channels for enterprises to grab consumers' attention and launch various marketing campaigns.
The company has spent heavily on Weibo's marketing and technology upgrades but has yet earned tiny returns, except for a small part from the gaming platform where users can pay with virtual currency.
"Mobile will also be a very important channel for Weibo to make money in the coming years," Chao added.
Currently, more than 50 percent of users are accessing Weibo through mobile webpages or smart phone applications.
Sina returned to profit in the fourth quarter of 2011 as a result of fewer investment write downs and growing advertising income compared to a loss of US$100 million in the same period a year before, according to a stock exchange filing today.
Chief Executive Officer Charles Chao said in a conference call today after the earnings release that the company plans to invest US$160 million in Weibo this year to upgrade infrastructure and build an advertising system.
In the three months ending December 31, its revenue added 21 percent to US$133.4 million and profit was US$9.3 million.
Chao said earlier this month that he aimed at Weibo hosting 1 million enterprise accounts by the end of this year, compared to around 130,000 at present.
Sina will launch a fee-based service for corporate Weibo accounts in the middle of this year for data-mining and analyzing user habits.
Social networking sites like Weibo and Renren.com are becoming increasingly important marketing channels for enterprises to grab consumers' attention and launch various marketing campaigns.
The company has spent heavily on Weibo's marketing and technology upgrades but has yet earned tiny returns, except for a small part from the gaming platform where users can pay with virtual currency.
"Mobile will also be a very important channel for Weibo to make money in the coming years," Chao added.
Currently, more than 50 percent of users are accessing Weibo through mobile webpages or smart phone applications.
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