Chinese Twitter rival Weibo may float in the US, according to report

China’s Sina, proprietor of the highly popular Weibo, is reportedly preparing to float the microblogging platform as a spinoff on the New York Stock Exchange. According to a Financial Times piece on Monday, Weibo may be worth over $4 billion at the moment, and Sina has hired Goldman Sachs and Credit Suisse to manage the flotation. Alibaba, the Chinese e-commerce giant that has an 18 percent stake in Weibo, is apparently also planning an IPO, and the country’s Tencent, which produces the WeChat app that rivals both WhatsApp and Weibo, is also doing well for itself at the moment.