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05.09.2019 00:05:00

Weibo Expands Its Ecosystem With an Instagram Clone

Weibo (NASDAQ: WB) this week launched Oasis, a new social media app that resembles a hybrid between Facebook's (NASDAQ: FB) Instagram and Pinterest (NYSE: PINS), to a limited group of test users.Like Instagram, Oasis lets users edit their photos and videos with filters and promote their posts with hashtags. Like Pinterest, users can browse posts based on interests -- such as travel, fashion, and food -- and follow like-minded users.Oasis also resembles RED (known as Xiaohongshu in China), another Instagram-like app that lets merchants directly sell their products to users. RED hit 85 million monthly active users (MAUs) in June, but allegations of fake reviews and merchants peddling counterfeit goods caused the app to be pulled from China's app stores in July and August.Continue reading
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