China'sWeibo reports strong growth in 2016

Chinese social media giant Weibo has reported strong revenue growth of about USD 655.8 million in 2016, up 37 per cent year-on-year.
Weibo, known as China's Twitter, boasts over 313 million active users. Twitter along with Facebook are banned in the country.
Advertising and marketing services remained the major source of income, bringing in USD 571 million last year, a 42-per cent surge over 2015.
Revenue from value-added services (VAS) such as gaming increased 12 per cent year-on-year, state-run Xinhua news agency reported.
The tech firm raked in net revenue of about USD 655.8 million, up 37 per cent year-on-year, its financial statement released today said.

The fourth quarter growth was impressive, outperforming annual growth in many aspects.

Wang Gaofei, Weibo CEO, attributed strong advertising revenue to enterprises' growing interest in using mobile, social networking and video marketing tools.
The Nasdaq-listed Weibo posted strong growth on the stock market, growing from less than USD 20 per share in early 2016 to over USD 50 per share by the end of last year.
Weibo boasted about 313 million monthly active users as of the end of December, up 33 per cent year on year, with 90 percent of them coming from mobile terminal.
Several world leaders including Prime Minister Narendra have opened accounts on Weibo to interact with Chinese netizens.