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Turkey still hopes Twitter will have an office

Turkey's government said on Thursday it still hopes Twitter will open an office in the country a day after the social networking site ruled out such plans. In a statement following several days of talks with Twitter executives, Communication Minister Lutfi Elvan said Turkey had suggested that the company open a "liaison office" to improve coordination with the government. "Twitter officials said they cannot make any immediate decision", he said, adding that the company would decide after "evaluations at its headquarters".

Weibo IPO below expectations, raises $285.6 mn

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street. The firm, often described as China's version of Twitter, sold 16.8 million US depositary shares, according to Dow Jones Newswires, while a person familiar with the deal told AFP each share was priced at $17. That means it raised $285.6 million before the sale of any additional shares to underwriters.

'Chinese Twitter' firm Weibo to go public in US

Sina Weibo, widely known as China's version of Twitter, is to go public in the United States Thursday at a price below expectations after a recent sell-off in technology stocks. The microblogging subsidiary of Chinese Internet behemoth Sina was to make its debut on the Nasdaq exchange under the symbol "WB" in an initial public offering (IPO) expected to raise at least $340 million.

Weibo IPO below expectations, raises $285.6 mn

Sina Weibo has sold fewer shares than expected in its US IPO which has been priced below expectations, a report said Thursday, ahead of its listing which takes place after selloffs on Wall Street. The Beijing-based firm, often described as China's version of Twitter, sold 16.8 million US depositary shares at $17, raising $285.6 million before the sale of any additional shares to underwriters, Dow Jones Newswires said, quoting two people familiar with the deal.

China jails blogger in online 'rumour' crackdown

A Chinese court jailed a blogger for three years on Thursday, state media reported, the first person to be sentenced in a government-led crackdown on so-called Internet rumours. Qin Zhihui -- among hundreds of bloggers reportedly detained in an official campaign to assert greater control over China's popular social media -- was found guilty of "slander" and "picking quarrels and provoking troubles", state broadcaster CCTV said.

Alibaba steals Yahoo's thunder ahead of IPO

If Yahoo appears back in favor, it can thank Alibaba, the Chinese Web giant in which it holds a big stake and that is set for a public stock offering. Yahoo shares soared 6.26 percent to close at $36.35 Wednesday on the heels of a better-than-expected quarterly report, but some were more focused on the Alibaba financial results buried in the document. "The salient point of Yahoo's first quarter results was the very strong December quarter results from Alibaba," said Jordan Rohan, analyst at the brokerage Stifel.

'Chief Yahoo' David Filo returns to board

Yahoo announced the nomination Wednesday of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo." Filo was named along with Charles Schwab, head of a big investment firm bearing his name, and H. Lee Scott, former president and chief executive at Walmart.

Firing pays off for former Yahoo chief operating officer who gets $58 million in severance pay

SAN FRANCISCO - Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job. The disclosure in a regulatory filing Wednesday may lead to more second-guessing about Yahoo CEO Marissa Mayer's decision to hire de Castro as her second-in-command in October 2012. Mayer dumped de Castro in January after concluding he wasn't executing on her plan for reviving Yahoo's lacklustre ad growth. De Castro had been in charge of ad sales.

Weibo valued at $3.46 billion after bottom-end IPO pricing

(Reuters) - China's Weibo Corp will be valued at a lower-than-expected $3.46 billion when it goes public on the Nasdaq on Thursday, amidst concerns about the microblogging service's slowing user growth and the country's highly censored media environment. The Twitter-like microblogging service, owned by web portal Sina Corp, sold 16.8 million American Depositary Shares (ADSs) for $17 apiece, raising $285.6 million, an underwriter told Reuters. The company had planned to sell 20 million ADSs at between $17 and $19 per share.

Google misses revenue target, ad prices slide

By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's first-quarter revenue fell short of Wall Street targets and margins narrowed as the price of its ads continued to decline, underscoring the challenges Internet companies face as the world shifts toward mobile devices. Shares of Google were down 3 percent to $539.80 in afterhours trading on Wednesday, after initially sliding roughly 6 percent on the news.
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