Twitter may have lost it to its Chinese counterpart, Weibo

Is Twitter going the Yahoo way? Firstly, nobody seems to be interested in buying the micro-blogging website as of now. The stagnant revenues and user growth is already hitting the boat hard. On top of all this comes another piece of heart-breaking news that celebrities’ favorite networking spot is now worth less than its Chinese clone Weibo.

According to TechPortal, Weibo’s market cap now stands at $11.35 billion compared to Twitter’s $11.34 billion. Interestingly, Twitter was a big networking giant when Weibo appeared on the horizon in 2009. It has been a downward fall for Twitter since then and an entirely opposite journey for Weibo.

At its best, Twitter once had a market cap of $40 Billion. The microblogging site has reached to its present figure in the same time frame as Weibo reached from $3.4 billion (at its IPO in 2014) to $11.35 billion.

When Twitter seems to be having a boat full of woes and worries, including stagnant growth and internal politics, Weibo got easy ride courtesy Chinese authorities. With no Twitter, Weibo got all the support and space to grow uninterrupted. Then there was never the tough competition with Facebook, something that Twitter has reckoned with all along.

Though things look like getting steamier with coming of likes of WeChat but Weibo seems to be ready to take the plunge. While Twitter is struggling to make ads generate revenue, Weibo’s ad revenue was reported to be up by 45 percent from the previous year.

While we wish Weibo good luck with all its endeavors, we do hope for a turnaround for Dorsey’s company soon too so that it doesn’t land up Yahoo’s way.