In February, Chinese microblogging platform Sina Weibo has become more valuable than its US counterpart Twitter in market capitalization. This is the first time in history.
Soon after that, in the first quater of 2017, with nearly 340 million active users every month, Weibo surpassed Twitter in user base. This is rather ironic as Weibo was born as the clone of Twitter.
From my point of view, possible reasons may be as follows:
- Sina Weibo, born in 2009, shortly after Twitter was first blocked in China in an environment of nation’s censorship, had almost no rivalry, soon filled the vacuum. Weibo’s year-on-year user growth rate has stayed above 30% since 2014.
- It’s a multi-functional platform. It’s in fact like a platform which combines facebook, twitter, Instagram, YouTube. In its latest moves, in collaboration with C2C giant Alibaba, ad to its E-Commerce function like ebay. Another new move is in live-streaming industry.
- Chinese are becoming more and more social. According to Houtsuite and We Are Social, Internet penetration in China is 53% by 2017, and average online users spend about 50 minutes on social media every day.