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Sina aims to invest in Weibo after loss

(Shanghai Daily)

16:46, November 10, 2011

Sina Corp's management says it's cautious about the outlook for next year's ad market, because of an expected slowdown in Chinese economic growth.[Photo / China Daily]

SINA Corp (NASDAQ: SINA), operator of one of China's largest portal website and popular social platform Weibo.com, said yesterday it will continue to invest to develop the Twitter-like microblog service even after it posted the largest quarterly loss.

The company's advertising revenue climbed but the rise was overshadowed by increasing costs in product development and marketing fees as well as a write-down of its equity investments.

"We intend to make significantly more investment in product development and marketing for Weibo in the next few quarters to accelerate new product launches and accumulate more users in order to maintain our leading position in the social media sector," Sina Chief Executive Officer Charles Chao said in an earnings conference call yesterday.

Weibo.com has around 250 million registered users by the end of September, and it has been adding value-added services including online gaming and virtual currency over the past few months.

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