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Weibo revenue surges as China tech groups lift advertising

Social media operator attracts big spenders like Alibaba

Weibo is one of China's largest social media platforms, with 431 million active users.   © Reuters

China's Weibo reported on Wednesday that net revenue jumped 68% on the year to $426.6 million during the three months ended June 30.

The Chinese social media platform, with 431 million active users, has shown a strong ability to monetize its influence, attracting companies like Alibaba Group Holding, which have spent tens of millions of dollars each year on its platform for digital marketing. 

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