Feeds

Sina rumoured to be prepping Weibo for $500m US-based IPO

闲谈gasm to reach Middle Kingdom by mid-2014

Intelligent flash storage arrays

Chinese web giant Sina has picked two of the big banks to prep its Twitter-alike microblogging site Weibo for an IPO in the US.

Goldman Sachs and Credit Suisse have been taken on to help the site manage a debut onto the market in New York, sources told the Financial Times and Reuters. Weibo, which is hugely popular in China, is reportedly planning to start trading in the second quarter and is hoping to raise around $500m on its debut.

The last sign of what the firm is potentially worth came last year when Asian ecommerce behemoth Alibaba paid $568m for an 18 per cent stake, valuing Weibo at around $3.3bn. A source told the Wall Street Journal that if Weibo went public, Alibaba would consider upping its stake in the firm to 30 per cent.

Alibaba itself is also widely expected to take to the public markets some time this year, in an IPO that could value the firm at over $100bn.

Sina, which is already listed in the US, said that it did not comment on market rumours. ®

Secure remote control for conventional and virtual desktops

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.