Weibo IPO Info
Company Name: Weibo
Stock Symbol: WB
Exchange: NASDAQ
Status: Priced
IPO Date: 4/17/2014
IPO Price:
17.00 (
-16.24%)
Underwriters
Goldman Sachs (Asia) L.L.C. and Credit Suisse Securities (USA) LLC acted as joint book runners for the offering.
Amount of Offering: N/A
Number of Shares Offered: 16.8 Mil
Shares Outstanding After Offering: N/A
Valuation: N/A
Company Description
Weibo is a leading social media platform for people to create, distribute and discover Chinese-language content. By providing an unprecedented and simple way for Chinese people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world, Weibo has had a profound social impact in China. In March 2014, Weibo had 143.8 million MAUs and 66.6 million average DAUs. Over 70% of our MAUs in December 2013 accessed Weibo from mobile devices at least once during the month.
A microcosm of Chinese society and a cultural phenomenon in China, Weibo allows people to be heard publicly and exposed to the rich ideas, cultures and experiences of the broader world. Media outlets use Weibo as a source of news and a distribution channel for their headline news. Government agencies and officials use Weibo as an official communication channel for disseminating timely information and gauging public opinion to improve public services. Individuals and charities use Weibo to make the world a better place by launching charitable projects, seeking donations and volunteers and leveraging the celebrities and organizations on Weibo to amplify their social influence.
Weibo is being spun-off from Sina (NASDAQ: SINA), which will continue to control a majority of the shares following the IPO.
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