Recently adding 70 million users, popular Chinese microblogging platform Weibo has increased revenue from $199.2 million to $349.9 million in just over a year.
After a very successful year, NASDAQ has listed Weibo’s jump in revenue in Q1 of 2018 in an unaudited net profit of $99.1 million.
As of March 2018, Weibo rests at 411 monthly active users, which is actually over half of all of China’s internet population. Some 93% of which are accessing through mobile networks and devices.
After the success of marketing driven through Weibo through partnered ads and marketing, the company saw a $277.6 million uptick in ad revenue.
Weibo faced criticism in April when it announced plans to ban homosexually-themed content as a part of its “clean up” of what it deems inappropriate content from China’s media regulator.
Before being banned, the imitative sparked an “I am gay” hashtag movement to go viral – before it too was banned.
The decision was eventually reversed after international outcry, and Weibo pivoted by promising to focus on targeting violent and vulgar content. What that definition is, time will tell.
What are your thoughts on Weibo’s latest success and controversial decisions? Give us your two cents in the comment section just below.