The Firm is representing Alibaba Group Holding Limited, China’s largest e-commerce company, in connection with its investment in Weibo Corporation and strategic alliance with SINA Corporation (NASDAQ GS: SINA). Alibaba, through a wholly owned subsidiary, has invested $586 million to purchase preferred and ordinary shares of representing approximately 18% of Weibo on a fully-diluted basis. SINA has also granted an option to Alibaba to enable Alibaba to increase its ownership in Weibo to 30% on a fully-diluted basis at a mutually agreed valuation within a certain period of time in the future.
Weibo is a form of social media with microblogging and social networking features. Weibo.com has been developed with an open platform architecture that enables its users to stay connected with his/her social network while accessing internally third-party applications via Weibo Connect.
The Simpson Thacher team includes Katie Sudol, Rich Lin and Sandra Kister (M&A); Leiming Chen (Corporate); Lori Lesser and Marcela Robledo (IP); Katharine Moir and Jason Vollbracht (Tax); and Celia Lam and Venus Lo (Hong Kong law).
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