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Qudian Inc. American Depositary Shares each representing one Class A
Weibo (WB) recently received approval for its first ABS that is valued at RMB 1 billion.
The bottom line
On the surface, the amount does not appear to be significant but the direction on where WB is heading cannot be understated. With a declining engagement level, competition from ByteDance and other short video formats, and a soft macro that is pressuring the ad revenue, WB needs to find other sources of revenue to further monetize its current user base before they churn to other platforms.
Given WB’s existing DAU base, pivoting into fintech