China's top micro blog site boasts 500m users

BEIJING - Sina Weibo, the Chinese equivalent of Twitter, had attracted over 500 million users by the end of 2012, a year-on-year increase of 74 percent, Sina Corp announced on Wednesday.

Sina Weibo's active daily users have exceeded 46.2 million, the company said.

The site's revenues totaled $66 million in 2012, of which 23 percent came from surging income from value-added services.

The other 77 percent came from advertising, the revenues of which exceeded $50 million.

The company plans to further improve its user experience and expand its services while veering its focus to mobile Internet, said Cao Guowei, CEO and president of Sina.

Some 75 percent of Sina Weibo's active users log in using mobile devices.

Sina also issued financial reports for the last quarter and full fiscal year of 2012 on Wednesday, showing that its net revenues hit $529.3 million with a year-on-year increase of 10 percent.