Weak start for Weibo US share sale

China's largest Twitter-like service, Weibo, has had a lukewarm reception on the first day of its listing on the US stock market. The flotation on the Nasdaq stock exchange raised a less-than-expected $286 million (£170 million). The stock was priced at the lower end of expectations, as Weibo is not currently making a profit. Its number of active users fell after China's censors strengthened control of online discussions last year. The China Internet Network Information Center said in its annual report that almost 28 million people abandoned Weibo in 2013, according to a news agency.