Beijing-based Weibo (Nasdaq: WB) runs Sina Weibo, a micro-blogging site that is often described as the "Chinese Twitter". Launched seven years ago, it now boasts over half the domestic market, with 600 million users, of whom 126 million are daily users.
In the second quarter of 2016 revenue rose by 36% year on year to $147m. Weibo listed in 2014 and saw its share price fall by 40% in its first year. But in the last 12 months the stock has soared by more than 300%.
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After listing in 2007, the shares shot up to a peak of more than 400p, a rise of over 150%, but have since slumped. In the last year the stock has fallen by more than 80%.
Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.
Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin. As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.
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