Weibo, a top social media company in China, is raising $700 million that’ll partly be used to fund acquisitions. The company says it’s offering $700 million in convertible senior notes so that it can finance “working capital needs and potential acquisitions of complementary businesses.”
Its market cap is sitting at $21 billion. Weibo has seen a significant amount of growth this year and it has a larger user base than some other well-known social media platforms like Twitter. Right now it has 159 million daily and 361 million monthly users.
