Sina Weibo may have lost the hip factor to relative newcomer
WeChat, but Sina’s executives probably aren’t feeling too bad about that given
the numbers the company released on Tuesday: $30 million in ad revenue during
Q2 2013, representing more than 200 percent year-over-year growth. Other
revenue streams are up too; added-value services jumped 186 percent
year-over-year to $7.7 million. Even users are up; Weibo’s daily active users
jumped to 54 million in June, an 8.6 percent increase compared to March. Thanks
in large part to Sina Weibo, Sina’s quarterly profits were more than 9 times
the company’s profits in the previous quarter