|Bid||43.06 x 1100|
|Ask||43.96 x 1200|
|Day's Range||42.91 - 43.72|
|52 Week Range||28.93 - 52.33|
|Beta (5Y Monthly)||1.43|
|PE Ratio (TTM)||19.96|
|Earnings Date||Feb 24, 2021 - Mar 01, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||41.97|
Weibo (NASDAQ: WB) shareholders outpaced a declining market in October as the stock rose 14% compared to the S&P 500's 2.8% drop, according to data provided by S&P Global Market Intelligence. The last few weeks have been busy for Weibo investors. Weibo, which has been called an international stock version of Twitter, is predicting that sales declines will moderate to between 5% and 7% in the third quarter, which started in July and runs through September.
Weibo Corporation (NASDAQ:WB), might not be a large cap stock, but it led the NASDAQGS gainers with a relatively large...
(Bloomberg) -- Tencent Holdings Ltd. led a $50 million investment in real-time communications software developer Zego, underscoring widespread interest in online education and videoconferencing in the post-pandemic era.The Shenzhen-based startup’s financing round was also joined by existing backers Qiming Venture Partners and IDG Capital, Zego said. The company -- now part of Tencent’s massive investment portfolio -- didn’t disclose its latest valuation.Zego is competing in a burgeoning enterprise software sector with rivals including Agora Inc., which raised $350 million in a U.S. listing in June. They offer real-time voice and video technology that powers game streaming platforms, online classes and, increasingly, enterprises that had to adapt to remote work during and after Covid-19 disruptions. Globally, the so-called communications platform-as-a-service market is expected to grow from $3 billion in 2018 to more than $17 billion in 2023, according to IDC estimates.“We experienced a boom in these use cases during the pandemic, because people started to realize there’s work and errands you can’t do offline,” said Zego co-founder and Chief Executive Officer Lin Youyao in a phone interview.After 13 years at Tencent, where he last headed up the internet giant’s QQ messaging app, Lin founded Zego in 2015 with a group of former colleagues. He says the company’s revenue is on track to double this year, and it has been profitable since 2016, without disclosing specific figures.The company has a team of around 400 people and 80% of them work in tech, the CEO said. Zego has provided tech solutions to more than 1,000 customers including Weibo Corp. and TAL Education Group since its inception and it also runs a Zoom-style videoconferencing platform called TalkLine, according to the company.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.