Sina to Invest More to Attract Users to Microblog Service
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Sina Corp., owner of China’s third-most visited website, will increase spending to reach its target of more than 200 million microblogging users this year even as first-quarter profit missed analysts’ estimates.
The company is projecting $100 million in incremental costs this year in areas including marketing, network equipment and hiring, Chief Executive Officer Charles Chao said on a conference call today. Spending will accelerate in the second and third quarters from $14 million in the first quarter, he said.