Streaming platform Yizhibo sold to Weibo

The rumor of Weibo’s acquisition of its livestreaming partner Yizhibo has been confirmed, according to sources in the industry.

Yizhibo has moved into Sina’s office, though the two teams of the businesses will still run independently. An in-depth cooperation between Yizhibo and Weibo in the future is expected, added the source.

The acquisition will help Yizhibo to further leverage Weibo’s huge traffic and massive social influence, and Weibo to keep traction with quality video content. It is to create a stronger social-interaction based business model for both parties.

Source: Technode