Weibo Corp., a social media platform owned by Chinese online media company Sina Corp., plans to enhance its content-driven e-commerce, online celebrities, entertainers and agencies with new investments.
Weibo will infuse 2 billion yuan ($291.3 million) in its technology system upgrade over the next two years while promoting its video content as a primary access point.
With the investment, Weibo intends to focus on creating an ecosystem for its video and content business next year to better serve its customer needs.
Weibo expects to enhance content consumption via an upgraded video-focused application and its acquisition of Chinese live-streaming platform Yizhibo.