China’s Sina Weibo drops “Sina” from its name as it prepares for IPO

The largest populations of trans people live in Southern states with awful laws
A survey finds there are 1.4 million trans people in the U.S.—but there are likely more.

See all Editor's Picks

weibo-bull.jpg (1440×720)
China’s Twitter-like social network just shortened its name to “Weibo.”  

Like Prince, Ron Artest, and Cat Stevens, popular Chinese microblogging site Sina Weibo has decided it’s time for a name change as it embarks on a new chapter. It will now be known simply as Weibo, which translates roughly to “microblog” in Chinese. The company, which has 129.1 million active users, is getting ready for a $500 million initial public offering in the U.S.

Weibo is owned by the Sina Corporation, a large Chinese media company that has already gone public. According to Bloomberg, Weibo will repay loans to Sina with some of the money used from this filing.

Going public may raise Weibo’s international profile; although the app’s popularity is largely confined to China, the newly-christened Weibo has users accessing its platform from 190 countries; however, that doesn’t mean the company has its sights set on global usage. In its F-1 filing, the company repeatedly describes itself as a distributor of Chinese-language content, and there’s no indication that Weibo plans to veer into competition with U.S.-based social networks like Facebook and Twitter; in the filing, Weibo described its plan for growth as centered around growing its mobile base, but also around increasing penetration within China, particularly within what it calls “less-developed, lower-tier cities.”

So Weibo, although it is readying for a U.S. IPO, doesn’t have designs on English-speaking users. What Weibo does want, quite emphatically, is to dominate the Chinese social market. Its name change signals a cutthroat attitude toward competitors like Tencent Weibo, because it implies that when you think of a microblog, you think of its service.

Weibo reported promising growth, but warned investors that it does not know if it will continue to receive the same level of support from parent company Sina after it becomes a standalone company. It also emphasized that it relies on China’s state-owned internet infrastructure.

“Effective bandwidth and server storage at Internet data centers in large cities such as Beijing are scarce,” Weibo wrote. Not explicitly mentioned: How government censorship might impact the Weibo brand.  


H/T The Next Web | Photo by herval remix by Jason Reed (CC BY 2.0)

Promoted Stories Powered by Sharethrough
Business
Samsung's response to a customer whose phone caught fire only made things worse
Damage control is a tricky thing: One wrong move can make a small crisis exponentially worse. Such is the case for Samsung, which moved to suppress YouTube evidence that its Galaxy S4 smartphone can catch fire for no reason at all, only to have the original poster call the company out for it in a second video that received five times as many views as the first.
sina weibo
China's biggest social network goes nuts over McMuffins
Twenty years from now, Chinese will look at their health crisis—at their crippling rates of obesity and early-onset diabetes—and pinpoint March 18 as the day when things started to go really bad. That was the day McDonald's gave out free McMuffin breakfast sandwiches at restaurant locations the country. The day the intoxicating chemical mixture of rubbery egg product, phosphate-laden cheesestuffs, and mealy muffins met a million virgin tongues across the Middle Kingdom—and...
Group

Pure, uncut internet. Straight to your inbox.

Thanks for subscribing to our newsletter!