What’s not to like? Sina is the top internet portal in the world’s biggest internet market. It also has a near-monopoly in China’s rapidly growing micro-blogging world. Its version of Twitter – Sina Weibo – now has over 100m users, and is still growing fast. Even better – Sina’s listing in New York means everyone can buy a slice of it.
What’s not to like? Plenty it seems. The stock fell almost 6 per cent in after hours trading after Sina released first quarter forecasts and fourth quarter numbers that seemed to disappoint.
Revenues were up 12 per cent y-o-y, reaching $105m for the quarter. But losses were $100m, too. Revenues for Q1 are set to be lower.
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