Sina (SINA) Launches New Mobile Mssaging App in 'Weimi'
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Sina Corp (Nasdaq: SINA) id launching a new mobile messaging app in "Weimi," or "WeMeet" in English.
Known as the Twitter of China, work on the app began months ago with a 20-person team from Hangzhou Kuyue Technology. Sina is looking to engage more of its 500 million registered Weibo users and 50 million active users.
Biggest competition for Weimi is Tencent's WeChat, which has 235 million monthly actives in China.
Weimi conntects to Weibo and brings a particular emphasis on group chat. Other features include self-destructing messages (like SnapChat) and an RSS feed.
Shares of Sina are flat in early trading.
Known as the Twitter of China, work on the app began months ago with a 20-person team from Hangzhou Kuyue Technology. Sina is looking to engage more of its 500 million registered Weibo users and 50 million active users.
Biggest competition for Weimi is Tencent's WeChat, which has 235 million monthly actives in China.
Weimi conntects to Weibo and brings a particular emphasis on group chat. Other features include self-destructing messages (like SnapChat) and an RSS feed.
Shares of Sina are flat in early trading.
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