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Twitter is now worth less than its Chinese clone

China’s Weibo, started in 2009 as a Twitter clone, is suddenly worth more than Twitter itself. Weibo’s market cap now stands at US$11.35 billion, while Twitter is at US$11.34 billion. It’s a remarkably quick rise for the Chinese social network, which IPO’d in early 2014 at a valuation of US$3.4 billion. On that same day, Twitter was pegged at US$26.8 billion. Twitter is in freefall as it fails to add new users.
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