According to an investment industry source in Silicon Valley, Chinese internet company Sina's (Nasdaq: SINA) Weibo microblogging platform has accepted USD 200 mln in investment funds from Russian investment group Digital Sky Technologies (DST). According to the source, it is "almost" confirmed that the investment will be in the form of a USD 200 mln convertible loan, which converts into Sina stock at USD 65 a share. On top of that, DST might also purchase straight Sina stock as well.
The investment by DST would bring the total valuation of Sina Weibo to approximately USD 1 bln.
Editor's Note: For more information on this topic, please see "Rumor: Sina Weibo Rejects USD 500 Mln from DST," MD 7/01/11 issue.