HONG KONG, China — Sina Corp has hired Credit Suisse AG and Goldman Sachs Group Inc for a U.S. initial public offering of its Sina Weibo microblogging service worth about $500 million, a source familiar with the plans said on Monday.
BEIJING, China — Sina Corp., owner of China’s largest Twitter-like service, will push into mobile e-commerce through an alliance with Alibaba Group Holding Ltd. to revive flagging advertising sales. Alibaba, operator of the Taobao Marketplace and Tmall.com retail sites, will help Sina better target merchants wanting to place ads on its Weibo microblog service, Sina Chief Executive Officer Charles Chao said on a call today after the company posted a first-quarter loss. The call marks Sina’s first public comments detailing the partnership since Alibaba paid $586 million for an 18 percent stake in Weibo in April. Sina is focusing on mobile platforms to bolster earnings from advertising, its biggest sales contributor, after recording the smallest revenue gain in three years in 2012.…
The China Edit is a weekly curation of the most important must-read fashion business news and analysis from and about the world’s largest luxury market.
Vintage for Today? (IHT) “‘New vintage — for today,’ said Mr. Lagerfeld, referring to a flow of high-waisted, wide pants that might have come from hazy photographs of a mademoiselle in Deauville but were, in fact, invented in one of the designer’s gouache drawings” Fashion Industry Aims To Corner the Chinese Market With Weibo (Fashionista) “If you’ve heard of Weibo, you’ve probably heard it described
SHANGHAI, China — In the parallel internet universe behind China’s “Great Firewall,” where search engine Baidu is Google, etailer Dangdang is Amazon, and video sharing site Youku is YouTube, the microblogging service Weibo (pronounced Way-Bwah, literally microblog) — launched in August 2009 by online media giant Sina Corp — has emerged as the country’s answer to Twitter. According to brokerage and investment group CLSA Asia-Pacific