Since the launch of Baidu Finance Center on October 28, 2013, Sina Weibo, with 500 million users, also announced on October 30 that it would launch a finance product – Weibo finance platform.
Sina Weibo finance platform will be launched by the end of 2013. Weibo finance platform will sell different types of finance products, such as money fund and insurance, and it will also add P2P services. Sina Weibo had gotten payment license already.
Internet enterprises were all eager to get involved in online finance business, Alibaba finance had covered online payment (Alipay), money fund (Yu’E Bao) and insurance; Baidu had launched Baidu Finance Center. Actually, Sina Weibo launched its finance management product Weibo Wallet in last year, offering bill payment, money transfer, credit card repayment and coupons management services.
Sina Weibo has been struggling to find a business model, Wei finance platform would be a good choice to help finance enterprises target its users more conveniently and cheaper. Finance enterprises could offer customized services via Weibo finance platform.
Accordingly, Sina Weibo has launched a series of changes to transition from marketing platform to service delivery platform.