Sina (Nasdaq: SINA) has announced a new joint venture with real estate services company E-House (China) Holdings Limited (NYSE: EJ). Sina will split its real estate channel (http://www.house.sina.com.cn) from its home decoration channel (http://www.jiaju.sina.com.cn), and the new JV will be responsible for operating house.sina.com.cn. Sina owns 2/3 of the shares in the new JV, while E-House owns the remaining 1/3. E-House will be responsible for developing online products and services for the new company, and will also provide its CRIC database.
Sina CEO Charles Chao believes that the new joint venture is "different from the channel outsourcing models used by other websites", and hopes the JV will allow Sina to expand the influence of its real estate channel to more cities across China.