Wednesday, April 16, 2014
China's Twitter-like Weibo Tests Its Appeal With NASDAQ IPO
Interest in the IPO of Chinese microblogging site Weibo is building as fears over investing in China tech stocks have subsided despite lingering risks. Weibo is seeking to raise $380 million in a spinout from Chinese Internet portal SINA, the third China-based company to list in the U.S. in 2014 after a drought of China IPOs on Wall Street ended last year. Weibo’s public market debut will give China two major social media sites on U.S. exchanges – the equivalent of Twitter and Facebook. Renren RENN +2.76%, considered China’s Facebook, went public on the NYSE in 2011. Weibo, likened to Twitter but with more features, is set to go public this Thursday on NASDAQ. The timing is certainly better than two years ago. Keep reading Forbes post, @silicondragon onforb.es/1qZChKQ.