Scalper1 News
Sina’s (SINA) popular Weibo for the first time turned an operating profit as ad sales on the network spiked 163% in Q4, but it plans more heavy investment in the microblog site. The profit was $3 million, Sina CEO Charles Chao told analysts on the company’s earnings conference call late Monday. “This is an important milestone for us,” Chao said. Sina reportedly plans a U.S. IPO for Weibo, looking to raise about $500 million, according to the Scalper1 News
Scalper1 News