Sina Microblog Exceeds 50 Mln Users
BiaNews, 11/16/10
At the first China Microblogging Developers Conference this morning, Chinese internet company Sina's (Nasdaq: SINA) Weibo microblogging platform announced that it now has more than 50 mln users. Approximately 25 mln microblog updates are posted to the service every day; to date, the site hosts more than 2 bln microblog postings, and has formed partnerships with more than 10,000 other sites.
Sina also announced that it will make the Weibo service available directly at the domain name weibo.com. A visit to that address currently redirects the user to Sina's open microblogging platform.
Sina also said it will partner with Sequoia Capital, IDG, Innovation Works, the Yunfeng Fund, and the DFJ Dragon Fund to launch a RMB 200 mln innovation fund for Chinese microblogging developers.
Sina VP and GM of Sina Weibo Peng Shaobin said that there would be a 30/70 revenue split between Sina Weibo and developers for the platform, with developers receiving the 70% share.
Editor's Note: Sina Tech has reported that Sina will put up RMB 100 mln of the fund's RMB 200 mln, with the remainder coming from RMB 20 mln investments from each of the company's five partners. Under the plan, the fund will make single payments of RMB 3 mln or more to Chinese developers of microblogging applications -- primarily to either startups or individual developers -- but could make larger investments in projects that look especially promising.
The fund will offer financing services for individuals, groups, or companies developing microblog-centric third-party applications, in order to foster and support the development of outstanding applications for Sina's open microblog platform. Among the areas of interest for the fund are mobile applications, tools for the service, content tools, and microblog-based games. Mobile applications would include clients for mobile operating systems, location-based services (LBS), and games; tools would include PC clients, plugins, and data-mining tools. Content would include services using microblogging to put friends, couples, and prospective employees and employers together, or services offering video, music, recipes, or stock tips over the microblogging service. Games would mostly include games that made use of users' social contacts and relationships.
Sina president and CEO Charles Chao said that investment would merely be the first step in Sina's support for developers. In the future, Chao said, Sina will offer technology exchange, business incentives, application promotion, and other measures to support developers. If supported applications do well, he said, Sina would consider expanding the fund.
Marbridge offers a more comprehensive overview and analysis of China's rapidly growing microblogging industry in its recently release 2010 Chinese Microblogging Market Report, details of which can be viewed by clicking here.
Keywords: Internet traffic revenue share mobile data Charles Chao Internet investment users IDG LBS Sequoia Capital Sina microblogging Innovation Works Peng Shaobin Yunfeng Fund funding mobile application DFJ DragonFund
Sending
