Sina Weibo, also known as China’s Twitter, is reportedly heading for a New York Stock Exchange IPO.According to the Financial Times, Sina, the Chinese firm behind the platform, is looking to raise about $500 million in a public listing.
The company has already hired Goldman Sachs and Credit Suisse to handle the IPO in New York, which means that it could go public by summer.
Sina Weibo has some 60 million daily active users on the platform, according to its latest report. However, given the reports that China is trying to minimize free speech on the platform by erasing images from the site and censoring entire accounts, user engagement may be going down.
The Chinese company is heading for an NYSE IPO just months after Twitter took the very same path.