Not Quite Twitter: Weibo IPO Fizzles Out

Weibo may be known as China's version of Twitter, but its initial public offering on Thursday is shaping up to be very different.

Weibo priced its IPO at $17 a share, according to multiple reports, which comes in at the low-end of its proposed price range. At that price, Weibo will raise less a little more than $285 million from its IPO and be valued at around $3.5 billion

By comparison, Twitter priced shares above its price range when it went public six months ago and raised $1.82 billion from the IPO. Twitter was valued at just more than $14 billion at the time of its IPO and currently has a market cap north of $25 billion, dwarfing that of Weibo. Read more...