This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

SINA And AutoNavi Launch Location-based Social Networking Service Platform





BEIJING, Dec. 11, 2012   /PRNewswire/ -- SINA Corporation (" Sina") ( Nasdaq: SINA), a leading online media company serving China and the global Chinese communities, and AutoNavi Holdings Limited ("AutoNavi") ( Nasdaq: AMAP), a leading provider of digital map content and navigation and location-based solutions in China, today jointly announced a strategic partnership to integrate and enhance each other's social, location and mobile ("SoLoMo") offerings.

As a result of this partnership, AMAP, AutoNavi's mobile map application, users will be able to sign on using Weibo Connect and access content directly from SINA Weibo. SINA Weibo users will also have access to the content and functionality of AMAP. The companies expect such content and product integration will enhance the social networking and navigational aspects of each other's mobile offerings.

"Over 70% of SINA Weibo users access the social media platform at least partially via mobile devices," said Gaofei Wang, Vice President and General Manager of SINA Mobile. "LBS (location based services) and mapping services will play a key role in Weibo's mobile strategy, and we are excited to be partnering with AutoNavi to leverage their expertise in these areas."

"In teaming up with Sina, we are proud to provide our mapping and location-based services to over 400 million Sina Weibo users, while at the same time integrating Sina Weibo's social content and SNS features into AMAP," said Mr. Congwu Cheng, chief executive officer of AutoNavi. "We believe our collaboration with Sina Weibo will benefit both of our users and we look forward to future cooperation between our two companies as we continue to bring new features and functionalities to our users."

About SINA

We are an online media company serving China and the global Chinese communities. Our digital media network of SINA.com (portal), SINA.cn (mobile portal) and Weibo.com (social media) enable Internet users to access professional media and user generated content in multi-media formats from the web and mobile devices and share their interests to friends and acquaintances.

SINA.com offers distinct and targeted professional content on each of its region specific websites and a range of complementary offerings. SINA.cn provides information and entertainment content from SINA portal customized for WAP users. Based on an open-platform architecture to host organically developed and third-party applications, Weibo.com is a form of social media, featuring microblogging services and social networking services that allow users to connect and share information anywhere, anytime and with anyone on our platform.

Through these businesses and properties and other business lines, we offer an array of services including mobile value added services ("MVAS"), online video, music streaming, online games, photo sharing, blog, email, classified listings, fee-based services, e-commerce and enterprise services. We generate the majority of our revenues from online brand advertising, MVAS and fee-based services.]

About AutoNavi

AutoNavi Holdings Limited (Nasdaq:AMAP) is a leading provider of digital map content and navigation and location-based solutions in China. At the core of its business is a comprehensive nationwide digital map database that covers approximately 3.6 million kilometers of roadway and over 20 million points of interest across China. Through its digital map database and proprietary technology platform, AutoNavi provides comprehensive, integrated navigation and location-based solutions optimized for the Chinese market and users, including automotive navigation solutions, mobile location-based solutions and Internet location-based solutions, and public sector and enterprise applications. For more information on AutoNavi, please visit http://www.autonavi.com .

Forward Looking Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. SINA and AutoNavi may also make written or oral forward-looking statements in their respective reports filed with or furnished to the U.S. Securities and Exchange Commission, in their respective annual report to shareholders, in press releases and other written materials and in oral statements made by their respective officers, directors or employees to third parties. Statements that are not historical facts, including statements about the companies' beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include the risk factors detailed in the companies' respective annual report on Form 20-F as well as in their other filings with the Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and neither SINA nor AutoNavi undertakes any duty to update such information, except as required under applicable law.

For investor and media inquiries please contact:

SINA

Investor Relations SINA Corporation Phone: +86-10-8262-8888 x 3112 Email: ir@staff.sina.com.cn

AutoNavi

In China:

Serena Shi AutoNavi Holdings Limited Tel: +86-10-8410-7883 E-mail: serena.shi@autonavi.com

Derek Mitchell Ogilvy Financial, Beijing Tel: +86-10-8520-3073 E-mail: amap@ogilvy.com

In the U.S.:

Jessica Barist Cohen Ogilvy Financial, New York Tel: +1-646-460-9989 E-mail: amap@ogilvy.com

SOURCE SINA Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,190.72 -23.70 -0.13%
S&P 500 2,109.74 -1.00 -0.05%
NASDAQ 4,982.1270 -5.7630 -0.12%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs