Sina Weibo, China’s Twitter, Valued At $6 Billion

Most mainstream social media networks – Twitter, Facebook, Google+, and YouTube – are banned in China, leaving Chinese social media users to log onto Sina Weibo (China’s Twitter), Renren (China’s Facebook), Tencent Weibo (China’s Tumblr) and Tudou (China’s YouTube) instead. And they’re doing so with incredible quantity.

Today, Sina Weibo – China’s Twitter – announced $30 million in ad revenue during Q2 2013, more than 200% year-over-year growth.

Not only that: user count on Sina Weibo is way up (daily active users jumped to 54 million in June, an 8.6% increase compared to March) and added-value services jumped 186% over last year to $7.7 million.

This rich valuation probably has a lot to do with the cash infusion from China’s top e-commerce company Alibaba earlier this spring.

Have you checked out Sina Weibo for yourself yet? Lots of Western celebrities have taken the jump.

Do you think there’s anything Twitter should be doing at this point to rival Sina Weibo’s steep stake abroad?

(Sina Weibo image via Telegraph.)