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China Stocks: Chinese-language social media leader-Weibo Corporation (WB) (2009)

Weibo Corporation (NASDAQ:WB), a Weibo company, was founded in 2009 and is headquartered in Beijing, China. It has 4,350 full-time employees. Through its subsidiaries, it operates as a social media platform to enable people to create, distribute and discover Chinese content.

wb logo

Weibo Corporation (WB):

Weibo is a service website launched by Sina.com to provide microblogs. Users can publish information through web pages, WAP pages, external programs, mobile phone text messages or MMS, etc., and can upload pictures and linked videos for instant sharing. Sina Weibo can directly add comments under a Weibo, or directly send pictures and videos in a Weibo. Sina Weibo is the first to add these two functions.

Sina Weibo is a platform for sharing, disseminating and acquiring information based on user relationships. It accounts for 57% of the total number of Weibo users in China and 87% of the total number of Weibo activities in China. It is the most visited website in Mainland China one. It was launched by Sina in August 2009. As of the end of December 2012, Sina Weibo had more than 500 million registered users, a significant increase of 74% year-on-year. The number of daily active users reached 46.2 million, and the number of users posting daily exceeded 1 Billion. On April 29, 2013, Alibaba Group acquired an 18% stake in Sina Weibo.

Sina Weibo adopts the same promotion strategy as that of Sina Blog, that is, inviting celebrities and celebrities to join and open microblogs, and real-name authentication is performed on them. After authentication, users will add an orange letter “V” after their username to show Different from ordinary users and Weibo masters, it can also avoid the behavior of impersonating celebrity Weibo, but the functions of Weibo are the same as ordinary users.

At present, the focus of invitations on Sina Weibo has shifted to media workers. At the same time, a large number of government departments, enterprises and non-governmental organizations have opened accounts on Sina Weibo as a platform for publishing and exchanging information. The authenticated group users will add a blue letter “V” after the username.

In addition, most of the celebrities in the Hong Kong and Taiwan performing arts circles and Hong Kong, Macao and Taiwan companies doing business in the mainland also use Sina Weibo as a window for information exchange to the Chinese mainland.

Weibo company is divided into two parts: Advertising and Marketing Services and Value-Added Services. Sina Weibo ranked second among the top 50 companies released by Fortune in 2018.

Weibo Corporation (WB) History:

  • Sina Weibo began its closed beta on August 14, 2009. On September 25, Sina Weibo officially added the @ function and the private message function, in addition to providing “comment” and “forwarding” functions for users to communicate.
  • On average, Sina Weibo users post more than 100 million Weibo content every day. In addition to the web version, Sina Weibo also has a local client version. The current mainstream ones include Weibo AIR, Wing Weibo, and microwave ovens. Sina Weibo has also launched an official local desktop client-Weibo Desktop.
  • At 10:20 on December 1, 2010, Sina Weibo failed to access. Some users appeared “the user does not exist”. The Weibo system required to fill in personal information and forced to log out. The visit to Sina Weibo returned to normal at 14:30 on the same day. It was officially explained that the incident was caused by the surge in the number of Sina Weibo users and daily Weibo postings. Sogou CEO Wang Xiaochuan said that the incident was caused by the Weibo server entering an infinite loop, which caused the system to automatically jump to the system error page after entering the homepage, and then automatically jump to the homepage after 4 seconds; this caused a huge impact on the server, and thus Take the server down.
  • On March 2, 2011, Sina CEO Cao Guowei stated that the number of registered users of Sina Weibo has exceeded 100 million. At the same time, he also revealed that Sina will at least double the 600 staff of its Weibo department and substantially increase its marketing expenditure on Weibo.
  • From March 23, 2011, Sina Weibo changed the domain name of Weibo short link from sinaurl.cn to t.cn. After changing the domain name, the Weibo with the link can write three more Chinese characters.
  • Starting from April 7, 2011, Sina Weibo officially launched new domains weibo.com and weibo.cn, as well as a new version of the logo. The use of the original domain name will not be affected, and the existing WAP domain name t.sina.cn will automatically be redirected to weibo.cn. Some analysts believe that Sina Weibo may be split and listed independently.
  • On May 25, 2011, Sina Weibo added two kinds of image watermarks. On the basis of the original URL in the lower right corner, Weibo icons and nicknames were added. The user can only change the number and position of the watermark in the personalized settings after logging in with the domain name of weibo.com. Currently, only pictures in JPEG format over a certain pixel will be watermarked.
  • In June 2011, Sina announced that it was developing an English version and was preparing to enter overseas markets, but it still abides by Chinese laws.
  • On August 31, 2011, Sina Weibo announced a new version of the public beta, adding micro photo albums, friend chat and Weibo selection functions, while improving private messaging and other functions. The new layout is changed from two columns to three columns. Users can switch the layout freely, but the interface remains unchanged. If users need to upgrade before October 18, they need an invitation code. At the same time, the “Professional Edition” is launched, which is divided into government edition, enterprise edition, media edition and campus edition. (Since then, Sina Weibo has released a new page again, and the general and professional versions use its unified layout.)
  • On March 16, 2012, Sina Weibo will formally implement the Weibo real-name system with Sohu , NetEase and Tencent Weibo.
  • On May 16, 2012, Sina announced its unaudited first quarter financial report, showing that the number of Sina Weibo users has increased to 324 million.
  • On August 29, 2012, Sina Weibo removed the word “Beta” from the logo. After 3 years of testing, Sina Weibo finally became the official version.
  • On April 29, 2013, Alibaba, through its wholly-owned subsidiary Alibaba (China), purchased preferred shares and common stock issued by Sina Weibo for US$586 million, accounting for the fully diluted and diluted total shares of Sina Weibo Of about 18%.
  • On July 23, 2013, Sina Weibo announced its access to the Facebook platform, allowing overseas users to log in to Sina Weibo through Facebook accounts. Sina Weibo has officially become China’s first large-scale social platform to connect to Facebook.
  • On September 5, 2013, Sina Weibo invested US$25 million in a mobile video technology company to show off its Series B. Other investors include Red Dot Investment, Morningside Ventures, etc. Xuanyi is committed to providing mobile video solutions, and its subsidiary is Vitamio, an open platform for video playback. Xuanyi will cooperate with Sina Weibo in the field of mobile video, and provide Sina Weibo users with 10-second short videos through the Miaopai App.
  • On March 14, 2014, Sina Weibo (Weibo) announced that it would go to the United States for an initial public offering (IPO) with a plan to raise up to US$500 million. The proceeds from Weibo’s fundraising will be used to repay Sina’s loan, and the remaining funds will be used to invest in technology, product development, expand sales and marketing, and enrich operating funds.
  • On the evening of March 27, 2014, Sina Weibo quietly officially changed its name to “Weibo”, which was considered one of the preparations for listing.
  • On April 17, 2014, “Weibo” was officially listed on the Nasdaq Stock Exchange in the United States. It was listed under ADR under the stock code WB. It was the first Chinese (Chinese) social media listed on NASDAQ. The stock price issued on the day was $17, and the stock price rose by $3.24 to $20.24 at the close. The market value of Weibo after the close was US$3.04 billion.
  • On October 13, 2014, Sina Weibo launched the 6th version. Compared with the previous version upgrade, an invitation code is required. For the 5th version, users only need to log in to the Weibo website and click on “Pre-release to upgrade the new version of Weibo V6” under the profile picture. , You can upgrade to version 6. The Weibo interface of the 6th edition has been adjusted accordingly and changed to a card style, but the function upgrade is not big. Some media said that the Weibo revision will counter WeChat. On October 27th, all users who were still using version 5 were forced to upgrade. However, these changes did not gain the support of users, which attracted a lot of scolding. For example, the avatar was changed from a square to a circle, and the original avatar’s screen was partially blocked. A relevant person in Weibo stated that the original intention of the web version of Weibo was to “unify the styles of the PC and mobile terminals, making it easier for users to transfer from PC to mobile.” Some media said that the revision is in line with Facebook.
  • At noon on August 12, 2015, Sina Weibo’s picture server malfunctioned, resulting in a completely different picture from the blog post description.
  • In January 2016, Sina Weibo announced that it would remove the 140-character limit. This feature is planned to open the trial permission to Weibo members on January 28 and formally open to all users on February 28. At that time, users can directly post Weibo with less than 2000 words. However, in the information flow interface, if there is a Weibo with more than 140 words, the text will maintain the original display mode, and a new return mark will be added.
  • On April 20, 2017, Sina Weibo CEO Wang Gaofei announced that it would limit the number of times users can change their nicknames. Ordinary users can only change it once in a year (calculated in a natural year), and member users can change it 3-5 times according to different levels; Orange V users can only change it 1-2 times and need to be approved by the system.
  • On October 9, 2018, Sina Weibo officially announced that in order to “further create a clear, healthy, civilized, and orderly platform environment, and effectively protect the safety of minors in cyberspace”, it was decided to launch the new version on November 1, 2018. Starting from the client version, the registration function for minors under the age of 14 has been suspended. At the same time, Sina Weibo is stepping up the development of special versions for minors, specifically providing content and activities suitable for minors to browse and participate in.
  • In April 2019, Sina Weibo cooperated with the National Library of China to launch the Internet Information Strategic Preservation Project. At that time, the publicly published blog posts on Sina Weibo will be preserved by the National Library.

Weibo WB investment reference:

After Netease , Sohu and other big players have shut down Weibo services, Weibo WB is currently the only larger and more active Weibo platform.

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