SINA and Weibo Announce Board Changes
January 12 2016 - 8:30AM
SINA Corporation (“SINA”) (NASDAQ:SINA), a leading online media
company serving China and the global Chinese communities, and its
majority-owned subsidiary Weibo Corporation (“Weibo”) (NASDAQ:WB),
China’s leading social media platform, today announced recent
changes of their respective boards of directors. Mr. Pehong Chen
has ceased to be a director of SINA and instead began to serve on
the board of directors of Weibo, replacing Mr. Yichen Zhang, who
resigned from Weibo’s board. In addition, SINA announced that Mr.
Lip-Bu Tan has resigned from and ceased to serve on the board of
directors of the company for personal reasons. After these changes,
SINA’s board of directors will be comprised of five members, a
majority of whom are independent directors.
“Pehong and Lip-Bu have been members of SINA’s
board of directors since 1999. We wish to express our sincere
gratitude to them for their contributions to SINA during these
years. We are delighted that Pehong will continue to work with us
as a director of Weibo and we wish Lip-Bu all the best in his
future endeavors,” said Charles Chao, chairman of the boards of
directors of SINA and Weibo.
“We also thank Yichen for his contribution to
Weibo during his tenure. Yichen will remain as a member of SINA’s
board. We believe these changes help independent directors dedicate
their efforts solely to the business of SINA or Weibo, as the case
may be,” Charles Chao continued.
About SINA Corporation
SINA Corporation is an online media company serving
China and the global Chinese communities. Its digital media network
of SINA.com (portal), SINA mobile (mobile portal and mobile apps)
and Weibo (social media) enables Internet users to access
professional media and user generated content in multi-media
formats from desktop personal computers and mobile devices and
share their interests with friends and acquaintances.
SINA.com offers distinct and targeted professional
content on each of its region-specific websites and a full range of
complementary offerings. Its mobile portal, SINA.cn, provides news
information and entertainment content from SINA.com customized for
mobile users in WAP (mobile browser) and mobile application format.
Weibo is a leading social media platform for people to create,
distribute and discover Chinese-language content. Based on an open
platform architecture, Weibo allows users to create and post feeds
up to 140 Chinese characters and attach multi-media content, as
well as access a wide range of organically and third-party
developed applications, such as online games.
Through these properties and other product lines,
SINA offers an array of online media and social media services to
its users to create a rich canvas for businesses and advertisers to
effectively connect and engage with their targeted audiences.
About Weibo Corporation
Weibo is a leading social media for people to create, share and
discover Chinese-language content. Weibo combines the means of
public self-expression in real time with a powerful platform for
social interaction, as well as content aggregation and
distribution. Any user can create and post a feed of up to 140
Chinese characters and attach multi-media or long-form content.
User relationships on Weibo may be asymmetric; any user can follow
any other user and add comments to a feed while reposting. This
simple, asymmetric and distributed nature of Weibo allows an
original feed to become a live viral conversation stream.
Weibo enables its advertising and marketing
customers to promote their brands, products and services to users.
Weibo offers a wide variety of advertising and marketing solutions
to its customers, ranging from large brand advertisers to
Alibaba/e-commerce merchants to small and medium sized enterprises
to individuals. The Company generates a substantial majority of
revenues from the sale of advertising and marketing services,
including the sale of social display ads, promoted feeds and
event-based ad solutions. Weibo has developed and is continuously
refining its social interest graph recommendation engine, which
enables its customers to perform people marketing and target
audiences based on user demographics, social relationships,
interests and behaviors, to achieve greater relevance, engagement
and marketing effectiveness on Weibo.
Contact:
Investor Relations
SINA Corporation
Phone: +86 10 5898-3336
Email: ir@staff.sina.com.cn
Investor Relations
Weibo Corporation
Phone: +86 10 5898-3112
Email: ir@staff.weibo.com
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