Tencent to Integrate Weibo Services to Tencent News
Internet giant Tencent has recently dissolved its Weibo team and have it integrated into their Tencent News. Weibo users can still use their account but Tencent will not develop any new functions for it anymore. The disbandment and integration of Weibo into a different branch of Tencent didn’t affect the stock prices of the company.
Started in April of 2010, Tencent Weibo was created in response to Sina Weibo one of its largest competitor. Then in 2011 Tencent launched its most popular app to date WeChat which is another type of social media that have more than 400 million users to date. Meanwhile Sina Weibo has 500 million users and is now listed in NASDAQ stock exchange.
The increasing popularity of Wechat and Sina Weibo is currently a threat to Tencent Weibo, plus the company newly develop video application for WeChat that was released in September that allows its users to share and post videos made it another competitor to Tencent Weibo. Furthermore the integration of Weibo into Tencent News is said to be one of the revolutionary step that the company is taking to strengthen their social information services.