Sina (SINA) Turns Down Investment That Would Have Valued Weibo at $5B
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Sina (Nasdaq: SINA) apparently turned down a $500 million investment in microblogging service Weibo, that would have valued the service at $5 billion.
TechWeb reported Friday that Russia's Digital Sky wanted to invest buy was rejected.
If true, a $5 billion valuation for Weibo would be significant since the market cap of the entire company sits at just $6.7 billion.
Shares of Sina are up 3.7 percent in early trading Friday to $107.82.
Link to Original report
TechWeb reported Friday that Russia's Digital Sky wanted to invest buy was rejected.
If true, a $5 billion valuation for Weibo would be significant since the market cap of the entire company sits at just $6.7 billion.
Shares of Sina are up 3.7 percent in early trading Friday to $107.82.
Link to Original report
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