Twitter (TWTR) on Watch Following Weibo IPO Filing; CEO to Meet with Officials in China
Tweet
Share
E-mailGet Alerts TWTR Hot Sheet
Join SI Premium – FREE
Twitter (NYSE: TWTR) is on watch Monday following news late last week that Sina's (Nasdaq: SINA) Weibo filed for a U.S. IPO with an tentative offering price of $500 million.
According to the filing, Weibo had 129.1 million monthly active users, or MAUs, and 61.4 million average daily active users, or average DAUs, increasing from 96.7 million MAUs and 45.1 million average DAUs in December 2012, respectively, and 72.9 million MAUs and 25.2 million average DAUs in December 2011, respectively. A microcosm of Chinese society, Weibo has attracted a wide range of users, including ordinary people, celebrities and other public figures, as well as organizations such as media outlets, businesses, government agencies and charities.
Notably, Reuters reported over the weekend that Twitter CEO Dick Costolo will be meeting with Shanghai government officials in China for the first time this week. The social media platform has been blocked in China since 2009.
The meetings will include Shanghai Pilot Free Trade Zone reps, which was established in 2013 to test market liberalization measures, such as looser rules governing currency conversion and foreign direct investment.
Officials in China aren't budging on Internet restrictions and censorship, amid recent rumors.
Shares of Twitter are indicated higher in early trading.
According to the filing, Weibo had 129.1 million monthly active users, or MAUs, and 61.4 million average daily active users, or average DAUs, increasing from 96.7 million MAUs and 45.1 million average DAUs in December 2012, respectively, and 72.9 million MAUs and 25.2 million average DAUs in December 2011, respectively. A microcosm of Chinese society, Weibo has attracted a wide range of users, including ordinary people, celebrities and other public figures, as well as organizations such as media outlets, businesses, government agencies and charities.
Notably, Reuters reported over the weekend that Twitter CEO Dick Costolo will be meeting with Shanghai government officials in China for the first time this week. The social media platform has been blocked in China since 2009.
The meetings will include Shanghai Pilot Free Trade Zone reps, which was established in 2013 to test market liberalization measures, such as looser rules governing currency conversion and foreign direct investment.
Officials in China aren't budging on Internet restrictions and censorship, amid recent rumors.
Shares of Twitter are indicated higher in early trading.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Chinese bubble tea company Chabaidao sees shares tumble in Hong Kong market debut
- Serve Robotics (SERV) Opens At $4.75, IIPO At $4 (Earlier)
- Rubrik IPO: 5 key things to know
Create E-mail Alert Related Categories
IPOs, Insiders' BlogRelated Entities
Twitter, IPOSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
