Weibo to help microbloggers
China’s microblogging site Weibo plans to build a onestop system to help some of its most loyal users turn their online influence into money, the company’s CEO said on Tuesday. Weibo, the biggest domestic microblogging platform, will help users define their brand focus, attract and accumulate followers and cash in on their popularity through advertisements, pay-per-read posts and other marketing tools, Weibo CEOWang Gaofei told the 2016 V-Influence Summit on the country’s growing newmedia platforms. Microbloggers have raked in 11.7 billion yuan ($1.73 billion) via Weibo’s current services. Promotions linked to online shopping generated the highest earnings— some 10.8 billion yuan in total— for users, followed by pay-per-read posts and brand promotions at 470 million and 430 million yuan, respectively. with the loss of $159 million in the same period of last year. Weatherford International, which has its main operations inHouston, also reported a $1.8 billion net loss in Q3, although its North American revenues slowly began to increase from the previous three months.