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Rumor: Sina Weibo Rejects USD 500 Mln from DST

TechWeb, 7/01/11

According to an industry source, Chinese internet company Sina's (Nasdaq: SINA) Weibo microblogging platform recently declined USD 500 mln in investment funds from Russian investment group Digital Sky Technologies (DST). DST reportedly appraised Sina Weibo at a value of USD 5 bln.

Editor's Note: Subsequent to reporting on this rumor, a DST representative contacted Marbridge to deny it, saying, "DST has never made an offer to invest in Weibo."

Keywords: foreign investment Internet Sina microblogging Digital Sky Technology

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