Shares of China Web portal Sina (SINA) and microblog spinoff Weibo fell Monday on reports that the companies might face sanctions from the Chinese government. The government has threatened to shut down Sina, one of the country’s most popular news websites, unless it “improves censorship,” according to an AFP story on Monday based on a report from China’s official Xinhua news agency. U.S. shares of Beijing-based Sina stock were down 6% in afternoon
China microblogging service Weibo was swept higher late Thursday after the company reported Q3 sales, and gave Q4 revenue guidance, that beat Wall Street expectations. Weibo (WB) posted Q3 revenue of $84.1 million, up 58% from the year-earlier period. Analysts polled by Thomson Reuters had expected $81.5 million. China Web portal Sina (SINA), which owns most of Weibo, posted Q3 EPS and sales that edged analyst views, but its Q4
You may not be surprised to hear that Alibaba’s (BABA) chairman and founder Jack Ma is China’s richest man. But did you know he’s also one of that country’s top social media bloggers, with 15.8 million followers on Sina Weibo, the dominant microblogging website? Ma, who owns a stake in Sina Weibo, has more people checking out his blog posts than does China’s cinematic superstar and investor Jet Li, who boasts only 13.4 million on the rival Tencent Weibo microblogging platform. But kung fu artist Li is No. 1 on Tencent Weibo. Sina Weibo and Tencent Weibo are Chinese versions of Twitter (TWTR) Sina Weibo is run by Chinese online media giant Sina (SINA). Ma’s social media ranking was included in a report by Shanghai-based magazine publisher Hurun Research Institute , which yesterday also anointed Ma as mainland China’s richest man with an estimated worth of $25 billion. The Hurun…