China News, 11/09/11
Chinese internet company Sina (Nasdaq: SINA) has announced in its Q3 2011 earnings call that users on its Weibo microblogging platform exceeded 227 mln as of the end of September and recently reached 250 mln. Investment in marketing and R&D for Weibo more than doubled compared to Q3 2010, and CEO and president Charles Chao said costs will continue to rise over the next few quarters as Sina invests further in the platform.
As of the end of September, average daily posts rose from 75 mln to 86 mln, up 15% YoY. Overall traffic to the platform rose 23% YoY.
Sina recently launched a new version of Weibo to provide a better user experience and improve the platform's developer API, according to Chao, and will continue to add more applications as well as photo sharing, social games, and instant messaging.
Chao also revealed that Sina is building a microblogging e-commerce platform, and continues to explore potential business models, including developing its microblog advertising platform and expanding its virtual currency platform (credits.weibo.com).