Sina Weibo Valued at $6 Billion

Sina Weibo may no longer be China's hottest social network, but the company has other things going for it right now. Today, the company announced $30 million in ad revenue during Q2 2013, representing more than 200% year-over-year growth

Additionally, added-value services jumped 186% year-over-year to $7.7 million. Even users are up — Weibo's daily active users jumped to 54 million in June, an 8.6% increase compared to March. Thanks in large part to Sina Weibo, Sina's quarterly profits were more than nine times the company's profits in the previous quarter.

It's hard to say just how much of this had to do with Alibaba’s cash infusion earlier this spring and the companies' joint efforts to boost Weibo's monetization with more targeted advertising Read more...