Weibo Increases Stake in Video-Streaming Service Yixia

Sina Weibo, China's Twitter-like networking platform, is leading a $500 million investment in Yixia.com, the parent company of Sina Weibo's live video-streaming service.

A serial investor in Yixia.com, Weibo Corp. led with a $120 million investment in the fifth funding round announced in Beijing on Monday. Also contributing were Radio and Television Shanghai, media conglomerate Shanghai Media Group, and a joint emerging industries fund between Everbright Group and Focus Media.