Sina Weibo publishes financial data for the first quarter of this year

in its updated IPO document

Sina Weibo, which is to be traded on Nasdaq tomorrow (April 17), plans to issue 20 million US depository shares, offering a 17~19 of $437 million for the IPO pricing range. Sina Weibo published its operating data for the first quarter of 2014 in its updated IPO document.

As of March 2014, Sina Weibo has about 144 million months of live users, an increase of about 34%, the daily live user 66.6 million people, year-on-year growth of about 37%.

In the first quarter of 2014, Sina Weibo total revenue of 67.5 million U.S. dollars, an increase of 161%, the chain down 5.5%, of which, advertising revenue of 51.9 million U.S. dollars, the chain down 7.3%, non-advertising revenue (including data licensing services, as well as page tours, membership and other value-added services) 15.6 million U.S. dollars, The quarter-on-quarter growth narrowed to 1.3%. For Weibo's total revenue and advertising revenue fall, Weibo official explanation is that seasonal operation, 2014 is advertising off-season, revenue still meet expectations.

Weibo lost a net loss of $47.4 million in the first quarter of 2014, compared with a net loss of $19.2 million a year earlier, which widened by about 147% per cent. It is reported that Sina Weibo in the fourth quarter of last year to achieve quarterly profit, the quarterly net profit of 24.56 million U.S. dollars, of which operating profit of more than 3 million U.S. dollars.

In addition, after Sina Weibo IPO, Alibaba's shareholding ratio will rise from 19.3% to 32%, Sina Company's shareholding ratio will reduce from 77.6% to 56.9%. Sina will have 80% of Sina Weibo's vote, Ali will get 15% of the vote and have the right to appoint a director to the Sina Weibo board.

US-Heart Group analyst Echo He evaluation: "Ali, Sina two big institutions shareholder shareholding ratio changes, will reduce Sina Weibo's valuation in the short term, because Ali's option swap, in fact, is lower than the IPO price of 15% to increase the shares of Sina Weibo." "According to our previous article, Sina Weibo is valued at about 658.4 billion dollars."

It is worth mentioning that the US capital market gives a negative evaluation on the IPO of Sina Weibo. IPO boutique this week downgraded Sina Weibo's IPO rating, saying: "A lot of the money for Sina Weibo is hot money, real demand is seriously overvalued, the IPO transaction valuation is high." "Renaissancecapital, another IPO research agency, points out that Sina Weibo's listing comes at a time when investors are becoming more cautious, with earnings from high valuations such as Twitter falling sharply in recent weeks, and recently listed stocks are behaving poorly and investors are more sensitive to IPO pricing. After the roadshow, Sina Weibo's pricing range has not been raised, and the market is mainly holding a wait-and-see attitude towards demand.