Shares of Sky mobi Ltd ADR were up nearly 24% at $4.85 just before lunch with news of a strategic partnership with SINA Corporation set to promote Weibo.com on MOBI’s online store! MOBI still trades nearly 80% off its 52 week high of $23.25!
MOBI is a leading mobile application store and mobile social network community operator in China, today announced that it has entered into a strategic agreement with SINA Corporation, a leading online media company and mobile value-added service (“MVAS”) provider for China and the global Chinese communities.
Under the terms of the agreement, SINA’s microblog Weibo.com will be made available as a downloadable application via the Maopao application store and via technical plug-ins to Sky-Mobi’s Maopao mobile social network. Weibo.com is one of the most popular social media sites in China.
The strategic partnership will make Weibo a core component of Maopao Community, allowing Maopao users to use their existing Maopao Community access to directly participate in all the fun of Weibo, including posting, browsing, forwarding, commenting, sharing and more. SINA will give Sky-mobi the exclusive rights to promote Weibo products on Mediatek, Spreadtrum and M-Star based mobile handsets.
“Weibo.com is literally the hottest social media in China and we are thrilled to be a partner. Bringing the excitement of Weibo microblogging to our Maopao platform means Ski-Mobi’s millions of users will have even more world-class media and entertainment options from which to choose. It will be a win-win partnership as mobile users are excellent microbloggers and we also anticipate having Weibo will further increase the stickiness of our Maopao users,” Mr. Michael Song, Chairman and Chief Executive Officer of Sky-mobi, stated.
“SINA is excited to partner with Sky-mobi and make Weibo.com accessible from Maopao, one of the largest mobile communities in China, further increasing Weibo.com’s mobile user base,” stated Mr. Fei Gao, Vice President and General Manager, SINA Mobile.
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