SHANGHAI and BEIJING, Jan. 12,
2016 /PRNewswire/ -- 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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SOURCE SINA Corporation