There are now more people on this Chinese platform than on Twitter
According to Weibo’s first quarter results, it has a whopping 340 million active monthly users, a 30% increase from its previous year.
Twitter has around 328 million active monthly users in comparison.
Of course, it doesn’t help that Twitter is blocked in China, along with other social media giants like Facebook.
And Weibo’s also looking strong, revenue wise.
Weibo reported a strong first quarter with net revenues of $199.2 million — a 67% increase year-on-year.
That’s not mentioning their net income of $46.9 million, which rolls in at a whopping 561% increase.
Twitter reached $548 million in revenue over the last three months — which sounds like a high number but is actually a drop in revenue compared to its previous years. It also reported a net loss of $61 million.
And there’s still room for growth for Weibo — China has 731 million internet users, with 53% of the population already online.
Looks like Weibo isn’t going to stop growing anytime soon.