Dec 06, 2018 (China Knowledge) - One of China's biggest social media platforms, Sina Weibo <WB:NASDAQ>, has announced its plans for global expansion. According to a senior executive of the company, Weibo has plans to launch new products in different languages catering to the foreign market over the next few years.
The social media platform is often compared to Twitter but has actually more to offer. Weibo is able to create and provide a platform for not just social integration and content aggregation, but also content distribution.
Besides that, Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. Its platform is widely used by advertiser due to its large number of daily and monthly active users and its ability to allow the advertiser to reach out and engage with its targeted audience better.
Weibo's monthly active users have grown 70 million year-over-year, reaching 446 million in September 2018. Average daily active users had also reached 195 million in September 2018.
Weibo Sports senior operations director Zhang Zhe believes that it will be hard for the company to push Weibo outside China, as the market is already dominated by Twitter and Facebook. However, the introduction of a niche product such as Tik Tok, can help it capture market.
The company will continue to engage consumers in the tier three and four cities, alongside with Chinese living abroad with its platform. The Chinese living globally and in China will continue to remain the focus and targeted consumers for the company despite its appetite for global expansion.
Shares price of Weibo was down 2.43%, closing at USD 65.09, yesterday.
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