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Acquisitions, Goodwill and Intangible Assets

6. Acquisitions, Goodwill and Intangible Assets

On October 1, 2018, the Group entered into a series of business and asset transfer agreements with Yixia Tech to acquire the whole of the live streaming business of Yizhibo, which was previously operated by Yixia Tech. The acquisition included the Yizhibo APP and related assets/technology, employees and business contracts with a cash consideration of $50 million. The Group paid $40 million consideration payable to Yixia Tech in 2018 and settled the rest $10 million in 2019 (Note 10). The Group engaged an independent valuation firm to help management determine the value of assets and liabilities from the acquisition. Total identifiable intangible assets acquired on acquisition date included supplier-relationship of $9.7 million with estimated useful life of five years, core technology of $6.6 million with estimated useful life of eight years, and trademark and domain name of $5.6 million with estimated useful life of ten years. In addition, there was no acquisition in 2019.

The consideration of acquisition of Yizhibo was allocated based on their fair value of the assets acquired and the liabilities assumed as follows:


	As of October 1, 2018
	(In thousands)
Consideration	$	50,000

Property and equipment, net	$	466
Identifiable intangible assets acquired		21,942
Other tangible assets		2,874
Liabilities assumed		(2,434)
Goodwill		27,152
Total	$	50,000

The acquisition mentioned above resulted in an increase of $28.0 million to revenues and an immaterial impact to net income for 2018. It did not have a material impact on the Group’s consolidated financial statements; therefore, pro forma disclosures have not been presented.

On October 31, 2020, the Group entered into a series of share purchase agreements with then existing shareholders of Shanghai Jiamian Information Technology Co., Ltd. or JM Tech, which provides online interactive entertainment services, to acquire the majority of JM Tech’s equity interest, with a total consideration of $218.6 million. The Group also entered into a contingent payment arrangement and a contingent allocation arrangement over JM Tech’s earnings with the founder and CEO of the company, both of which are subject to a service period through December 31, 2022 and certain performance conditions. The Group accounted for these arrangements as compensation expenses over the required service period when it is probable that the performance conditions will be met. The transaction was reflected in the Group’s consolidated financial statements from November 1, 2020. An independent valuation firm was engaged by the Group to help the management determine the fair value of assets and liabilities obtained from the transaction. The identifiable intangible assets acquired on acquisition date included launched games and products in development stage of $124.2 million with estimated lives ranging from four to ten years. The intangible assets were measured at fair value upon acquisition primarily using valuation techniques under the income approach. Key assumptions used in determining the fair value of these intangible assets include cash flow forecasts, the revenue growth rates and the discount rate.

The consideration of acquisition of JM Tech was allocated based on the fair value of the assets acquired and the liabilities assumed as follows:


	As of October 31, 2020
	(In thousands)
Consideration	$	218,590
Redeemable non-controlling interest (Note 18)		55,192
Non-controlling interest		16,133
Total	$	289,915

Short-term investments acquired	$	155,205
Other assets acquired		26,087
Identifiable intangible assets acquired		124,196
Goodwill		30,075
Liabilities assumed		(45,648)
Total	$	289,915

JM Tech contributed $11.5 million of revenues and $7.2 million of net income to the Group in 2020. It did not have a material impact on the Group’s consolidated financial statements; therefore, pro forma disclosures have not been presented.

The following sets forth the changes in the Group’s goodwill by segment:


	Advertising &		Value-added
	Marketing		services		Total

	(In thousands)
Balance as of December 31, 2017	$	2,318	$	11,102	$	13,420
Acquisition of Yizhibo		27,152		—		27,152
Impairment		—		(10,554)		(10,554)
Currency translation adjustment		(124)		(548)		(672)
Balance as of December 31, 2018	$	29,346	$	—	$	29,346
Currency translation adjustment		(357)		—		(357)
Balance as of December 31, 2019	$	28,989	$	—	$	28,989
Acquisition of JM Tech		—		30,075		30,075
Currency translation adjustment		1,910		738		2,648
Balance as of December 31, 2020	$	30,899	$	30,813	$	61,712

The Group performs at least annually a qualitative analysis on the goodwill arising from acquisitions taking into consideration the events and circumstances listed in ASC350 Intangibles—Goodwill and Other , including consideration of macroeconomic factors, industry and market conditions, share price of the Group, and overall financial performance, in addition to other entity-specific factors. Based on the analysis, the Group recognized an impairment charge of $10.6 million for the goodwill arising from certain acquisitions under value-added services segment due to their unsatisfied financial performance and decline in forecasted revenues in 2018. No impairment provision was recorded for the years ended December 31, 2019 and 2020.

The following table summarizes the Group’s intangible assets arising from acquisitions:


	As of December 31, 2019						As of December 31, 2020
			Accumulated						Accumulated
	Cost		Amortization		Net		Cost		Amortization		Net

	(In thousand)						(In thousand)
Games	$	—	$	—	$	—	$	127,238	$	(2,199)	$	125,039
Technology		8,869		(3,351)		5,518		9,544		(4,417)		5,127
Trademark and Domain name		5,555		(724)		4,831		12,788		(1,542)		11,246
Supplier-relationship		9,619		(2,444)		7,175		10,253		(4,689)		5,564
Others		2,298		(2,298)		—		2,449		(2,449)		—
Total	$	26,341	$	(8,817)	$	17,524	$	162,272	$	(15,296)	$	146,976

The amortization expenses for intangible assets were $1.3 million, $3.4 million and $5.7 million for the years ended December 31, 2018, 2019 and 2020, respectively. As of December 31, 2020, estimated amortization expenses for future periods are expected as follows:


Year Ended December 31,	(In thousands)
2021	$	17,633
2022		17,630
2023		16,942
2024		15,413
2025 and thereafter		79,358
Total expected amortization expenses	$	146,976

Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

Other Balance Sheet Components

Stock-Based Compensation

7. Stock-Based Compensation

In March 2014, the Company adopted the 2014 Share Incentive Plan (the “2014 Plan”), which included the remaining 4.6 million shares from the terminated 2010 Share Incentive Plan, plus an additional 1.0 million shares. On January 1, 2015, shares in the 2014 Plan, which has a term life of ten years, were allowed a one-time increase in the amount equal to 10% of the total number of Weibo shares issued and outstanding on a fully-diluted basis as of December 31, 2014. Each share in the 2014 Plan pool allows for a grant of a restricted share unit or option share. The Company intends to use such share incentive plan to attract and retain employee talents. Stock-based compensation related to the grants is amortized generally over four years on a straight-line basis (generally one year for performance-based restricted shares).

The following table sets forth the stock-based compensation included in each of the relevant accounts:


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Cost of revenues	$	3,522	$	5,251	$	5,384
Sales and marketing		6,837		9,828		9,983
Product development		21,187		28,628		33,093
General and administrative		9,465		17,582		18,645
Total	$	41,011	$	61,289	$	67,105

The following table sets forth a summary of the number of shares available for issuance:


		Shares Available
		(In thousands)
December 31, 2017		18,540
Addition		—
Granted*		(1,597)
Cancelled/expired/forfeited		350

December 31, 2018		17,293
Addition		—
Granted*		(2,411)
Cancelled/expired/forfeited		222

December 31, 2019		15,104
Addition		—
Granted*		(3,040)
Cancelled/expired/forfeited		431

December 31, 2020		12,495

* For the years ended December 31, 2018, 2019 and 2020, 1.6 million, 2.4 million and 2.5 million restricted share units were granted under the 2014 Plan, respectively. Options of 0.5 million were granted during the year ended December 31, 2020.

Stock Options

The following table sets forth a summary of option activities under the Company’s stock option program:


				Weighted Average
	Options	Weighted Average		Remaining	Aggregate
	Outstanding	Exercise Price		Contractual Life	Intrinsic Value
	(In thousands)			(In years)	(In thousands)
December 31, 2017	437	$	3.24	2.0	$	43,800
Granted	—	$	—
Exercised	(248)	$	3.14
Cancelled/expired/forfeited	(5)	$	1.16

December 31, 2018	184	$	3.45	1.5	$	10,089
Granted	—	$	—
Exercised	(95)	$	3.41
Cancelled/expired/forfeited	—	$	—

December 31, 2019	89	$	3.49	0.7	$	3,799
Granted	482	$	32.68
Exercised	(16)	$	3.47
Cancelled/expired/forfeited	(4)	$	30.96

December 31, 2020	551	$	28.85	5.8	$	6,683

Vested and expected to vest as of December 31, 2019	89	$	3.49	0.7	$	3,799
Exercisable as of December 31, 2019	89	$	3.49	0.7	$	3,799

Vested and expected to vest as of December 31, 2020	503	$	28.50	5.7	$	6,294
Exercisable as of December 31, 2020	72	$	3.50	0.2	$	2,707

The total intrinsic value of options exercised for the years ended December 31, 2018, 2019 and 2020 was $25.6 million, $4.2 million and $0.5 million, respectively. The intrinsic value is calculated as the difference between the market value on the date of exercise and the exercise price of the shares. As reported by the NASDAQ Global Selected Market, the Company’s ending stock price as of December 31, 2018, 2019 and 2020 was $58.43, $46.35 and $40.99, respectively. Cash received from the exercise of stock options during the years ended December 31, 2018, 2019 and 2020 was $0.8 million, $0.3 million and $0.1 million, respectively.

As of December 31, 2019 and 2020, unrecognized compensation cost, adjusted for estimated forfeitures, related to non-vested stock options granted to the Group’s employees and directors was nil and $5.4 million, respectively. As of December 31, 2020, total unrecognized compensation cost is expected to be recognized over a weighted-average period of 3.6 years and may be adjusted for future changes in estimated forfeitures.

Information regarding stock options outstanding is summarized below:


		Weighted			Weighted		Weighted Average
	Options	Average		Options	Average		Remaining
Range of Exercise Prices	Outstanding	Exercise Price		Exercisable	Exercise Price		Contractual Life
	(In thousands)			(In thousands)			(In years)
As of December 31, 2019
$ 3.43 - $3.50	89	$	3.49	89	$	3.49	0.7
As of December 31, 2020
$ 3.43 - $3.50	72	$	3.50	72	$	3.50	0.2
$ 32.68 - $32.68	479	$	32.68	—	$	—	—
	551	$	28.85	72	$	3.50	0.2

Restricted Share Units

Summary of Performance-Based Restricted Share Units

The following table sets forth a summary of performance-based restricted share unit activities:


		Weighted-Average
		Grant Date
	Shares Granted	Fair Value
	(In thousands)
December 31, 2017	129	$	50.32
Awarded	191	$	86.63
Vested	(126)	$	50.32
Cancelled	(190)	$	86.90

December 31, 2018	4	$	87.14
Awarded	98	$	64.33
Vested	(4)	$	87.14
Cancelled	(39)	$	69.14

December 31, 2019	59	$	61.17
Awarded	46	$	36.49
Vested	(54)	$	60.16
Cancelled	(34)	$	36.49

December 31, 2020	17	$	36.49

As of December 31, 2019 and 2020, the unrecognized compensation cost (adjusted for estimated forfeitures) was $0.4 million and $0.1 million, respectively, which was related to performance-based restricted share units granted to the Company’s employees.

Summary of Service-Based Restricted Share Units

The following table sets forth a summary of service-based restricted share unit activities:


		Weighted-
		Average
	Shares	Grant Date
	Granted	Fair Value
	(In thousands)
December 31, 2017	3,267	$	25.45
Awarded	1,406	$	68.18
Vested	(1,757)	$	21.59
Cancelled	(160)	$	44.00

December 31, 2018	2,756	$	48.62
Awarded	2,313	$	45.49
Vested	(1,374)	$	37.60
Cancelled	(183)	$	48.48

December 31, 2019	3,512	$	50.89
Awarded	2,512	$	33.50
Vested	(1,307)	$	49.12
Cancelled	(393)	$	44.96

December 31, 2020	4,324	$	41.86

As of December 31, 2019 and 2020, unrecognized compensation cost (adjusted for estimated forfeitures) was $150.7 million and $139.6 million, respectively, which was related to non-vested service-based restricted share units granted to the Company’s employees and directors. The cost was expected to be recognized over a weighted-average period of 3.2 years and 2.9 years at the respective year-ends. The total fair value based on the vesting date of the restricted share units vested was $37.9 million, $51.7 million and $64.2 million for the years ended December 31, 2018, 2019 and 2020, respectively.

Other Balance Sheet Components

12 Months Ended

Dec. 31, 2020

Other Balance Sheet Components

8. Other Balance Sheet Components


	As of December 31,
	2018		2019		2020

		(In thousands)
Accounts receivable, net:
Due from third parties			$	298,752	$	343,220
Due from Alibaba				60,392		135,321
Due from other related parties				99,675		48,625

Total gross amount			$	458,819	$	527,166
Allowance for credit losses
Balance at the beginning of the year		(8,114)		(12,429)		(36,594)
Additional provision charged to expenses, net		(6,226)		(38,561)		(53,124)
Write-off		1,911		14,396		54,562

Balance at the end of the year		(12,429)		(36,594)		(35,156)
			$	422,225	$	492,010

Prepaid expenses and other current assets:
Rental and other deposits			$	371	$	1,186
Deductible value-added taxes				652		598
Investment prepayments⁽¹⁾				47,069		15,308
Loans to and interest receivable from other related parties (Note 10)				301,526		158,622
Loans to and interest receivable from third parties				14,421		41,784
Advertising prepayment				3,406		18,888
Prepayment to outsourced service providers				3,483		3,719
Amounts deposited by users⁽²⁾				34,912		45,745
Content fees				14,013		3,080
Others				5,052		7,827
			$	424,905	$	296,757

Property and equipment, net:
Computers and equipment			$	132,477	$	165,880
Leasehold improvements				5,732		6,429
Furniture and fixtures				1,725		2,159
Others				3,696		5,077

Property and equipment, gross				143,630		179,545
Less: Accumulated depreciation				(96,901)		(118,913)
			$	46,729	$	60,632

Accrued and other liabilities⁽³⁾:
Payroll and welfare			$	84,394	$	126,023
Marketing expenses				77,046		59,410
Sales rebates				140,629		222,064
Professional fees				13,437		3,880
VAT and other tax payable				50,662		49,971
Payable to other service providers				578		398
Amounts due to users⁽²⁾				34,912		45,745
Unpaid consideration for acquisition				—		10,280
Unpaid consideration for investment				30,000		19,257
Interest payable for convertible debt and unsecured senior notes				15,344		923
Others				13,870		18,802
			$	460,872	$	556,753

(1)

For the years ended December 31, 2018, 2019 and 2020, the Group recognized $0.5 million, $19.1 million, and $1.5 million of impairment charges on investment prepayments (all fully impaired), respectively, due to the deterioration of the investees’ operation resulting in their inability to refund the prepayments.

(2)

Weibo wallet enables users to conduct interest-generation activities on Weibo, such as handing out “red envelopes” and coupons to users and purchase different types of products and services on Weibo, including those offered by the Group, such as marketing services and VIP membership, and those offered by Weibo’s platform partners, such as e-commerce merchandises, financial products and virtual gifts. Amounts deposited by users primarily represent the receivables temporarily held in Weibo’s account on a third party online payment platform for Weibo wallet users. Amounts due to users represent the balances that are payable on demand to Weibo wallet users and therefore are reflected as current liability on the consolidated balance sheets.

(3)	Include amounts due to third parties, employees, related parties (Note 10) and Weibo wallet users.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes

Income Taxes

9. Income Taxes

The Company is registered in the Cayman Islands and mainly operates in two taxable jurisdictions—the PRC and Hong Kong.

The Group’s income before income taxes is as follows:


	Year Ended December 31,
	2018			2019			2020

	(In thousands, except percentage)
Income before income tax expenses	$	668,842		$	602,397		$	375,913
Add: loss from non-China operations		43,266			106,256			57,031
Income from China operations	$	712,108		$	708,653		$	432,944
Income tax expense applicable to China operations	$	96,222		$	88,091		$	58,464
Income tax expense applicable to non-China operations		—			21,473			2,852
Total income tax expenses	$	96,222		$	109,564		$	61,316
Effective tax rate for China operations		13.5	%		12.4	%		13.5	%

The Company generated the majority of its operating income from PRC operations and has recorded income tax provisions for the periods presented. Stock-based compensation was recorded in the Company’s loss from non-China operations. In 2019 and 2020, the Group’s non-China operations have recognized $21.5 million and $2.9 million deferred tax charges from fair value change of investments, respectively.

Cayman Islands

Under the current tax laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. In addition, upon payments of dividends by the Company to its shareholders, no Cayman Islands withholding tax is required.

Hong Kong

Weibo HK is subject to 16.5%Hong Kong profit tax on its taxable income generated from operations in Hong Kong for the years of assessment 2017/2018, 2018/2019 and 2019/2020. Commencing from the year of assessment 2018/2019, the first HK$2 million of profits earned by entities incorporated in Hong Kong will be taxed at half the current tax rate (i.e., 8.25%) while the remaining profits will continue to be taxed at the existing 16.5% tax rate. As of December 31, 2020, the Company’s Hong Kong subsidiary had a net operating loss of $10.4 million, which can be carried forward indefinitely to offset future taxable income. The deferred tax assets of Weibo HK as of December 31, 2020 consist mainly of net operating loss carried forward, for which a full valuation allowance was provided. The management believes it is more likely than not that these assets will not be realized in the future.

China

Effective January 1, 2008, the Enterprise Income Tax Law (the “EIT Law”) in China unifies the enterprise income tax rate for the entities incorporated in China at 25%, unless they are eligible for preferential tax treatment. Preferential tax treatments will be granted to companies conducting businesses in certain encouraged sectors and to entities qualified as “software enterprises”, “key software enterprises” (“KSE”) and/or “high and new technology enterprise” (“HNTE”). Weibo Technology, the Group’s WFOE, was qualified as a “software enterprise” and was entitled to an exemption from the enterprise income tax for two years beginning 2015, its first accumulative profitable year, and a 50% reduction to a tax rate of 12.5% for the subsequent three years (2017-2019). Although Weibo Technology was qualified as a “software enterprise” in 2020, it will not enjoy a reduced tax rate for its “software enterprise” status as it has been five years since its first profitable year of 2015. Weibo Technology completed its filings as a “key software enterprise” with the tax authority in 2018, 2019, and 2020 for its status of 2017, 2018 and 2019, respectively, therefore was entitled to enjoy a further reduced preferential tax rate of 10% for 2017, 2018 and 2019. The qualification as a KSE is subject to annual evaluation and approval by the relevant authorities in China and the Group will only recognize the preferential tax treatment of KSE status when approval from the relevant authorities is obtained, usually one year in arrears. Weibo Technology was also granted the HNTEs status for the fiscal years from 2017 to 2022, which entitled the qualified entity a preferential tax rate of 15% in 2020. Its qualification as a HNTE is subject to annual evaluation and a three-year review by the relevant authorities in China. In addition, certain of the Group’s other PRC entities are also qualified as a “software enterprises”, and/or HNTE, and currently enjoy the respective preferential tax treatments.

The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “de facto management body” is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the “de facto management body” as “the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, properties, etc., of a non-PRC company is located.” Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC be considered a resident enterprise for PRC tax purposes. However, due to limited guidance and implementation history of the EIT Law, should Weibo be treated as a resident enterprise for PRC tax purposes, the Company will be subject to PRC tax on worldwide income at a uniform tax rate of 25% retroactive to January 1, 2008.

The EIT Law also imposes a withholding income tax rate of 10% on dividends distributed by a WFOE to its immediate holding company outside of China, if such immediate holding company is considered as a non-resident enterprise without any establishment or place within China or if the received dividends have no connection with the establishment or place of such immediate holding company within China, unless such immediate holding company’s jurisdiction of incorporation has a tax treaty with China that provides for a different withholding arrangement. The Cayman Islands, where the Company incorporated, does not have such tax treaty with China. According to the arrangement between Mainland China and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion in August 2006, dividends paid by a WFOE in China to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than 5% (if the foreign investor owns directly at least 25% of the shares of the WFOE). The State Administration of Taxation further promulgated Circular 601 on October 27, 2009, which provides that tax treaty benefits will be denied to “conduit” or shell companies without business substance and that a beneficial ownership analysis will be used based on a “substance-over-form” principle to determine whether or not to grant the tax treaty benefits.

The operations of the Group’s WFOE in China are invested and held by Weibo HK. If the Company is regarded as a non-resident enterprise and Weibo HK is regarded as a resident enterprise, then Weibo HK may be required to pay a 10% withholding tax on any dividends payable to the Company. If Weibo HK is regarded as a non-resident enterprise, then Weibo Technology may be required to pay a 5% withholding tax for any dividends payable to Weibo HK. However, it is still unclear at this stage whether Circular 601 applies to dividends from Weibo Technology paid to Weibo HK. If Weibo HK were not considered as “beneficial owners” of any dividends from Weibo Technology, the dividends payable to Weibo HK would be subject to a withholding tax of 10%. The current policy approved by the Company’s board of directors allows the Group to distribute PRC earnings offshore only if the Group does not have to pay a dividend tax. As of December 31, 2020, the Group did not record any withholding tax for its PRC subsidiaries.

Composition of income tax expenses

The following table sets forth current and deferred portion of income tax expenses of the Group:


	Years Ended December 31,
	2018		2019		2020

		(In thousands)
Deferred tax provisions (benefits)	$	4,438	$	16,839	$	(15,727)
Current income tax expenses		91,784		92,725		77,043

Income tax expenses	$	96,222	$	109,564	$	61,316

Reconciliation of the statutory tax rate to the effective tax rate for China operations

The following table sets forth reconciliation between the statutory EIT rate and the effective tax rate for China operations:


	Year Ended December 31,
	2018		2019		2020
Statutory EIT rate	25.0	%	25.0	%	25.0	%
Effect on tax holiday and preferential tax treatment⁽¹⁾	(12.1)	%	(13.7)	%	(20.9)	%
Research and development super-deduction	(0.1)	%	(1.2)	%	(3.0)	%
Non-deductible expenses and non-taxable income, net	0.7	%	0.3	%	(0.5)	%
Change in valuation allowance	—	%	2.0	%	12.9	%

Effective tax rate for China operations	13.5	%	12.4	%	13.5	%

(1)

Included the impact of Weibo Technology’s preferential tax treatment of “key software enterprise” status of 2017 to 2019, which enjoyed by the Group one year in arrears during the three-year period ended December 31, 2020, as well as preferential tax treatment benefited by certain other PRC entities.

The provision for income taxes for China operations for the years ended December 31, 2018, 2019 and 2020 differs from the amounts computed by applying the statutory EIT rate primarily due to the preferential tax treatments described above enjoyed by the WFOE, Weibo Technology, during the periods presented. For the years ended December 31, 2018 and 2019, Weibo Technology enjoyed a tax reduction of $77.2 million and $83.2 million due to the preferential tax treatment of being a qualified software enterprise. It also enjoyed a tax reduction of $55.1 million for the HNTE status in 2020. The WFOE further recognized the preferential tax treatment of KSE status of $10.8 million for 2017 in 2018, $13.0 million for 2018 in 2019, and $13.4 million for 2019 in 2020. The preferential tax treatments benefited by the Group during the three-year period ended December 31, 2020 resulted in an effect of $0.39, $0.43 and $0.40 on basic net income per share in 2018, 2019 and 2020, respectively.

Deferred tax assets and liabilities

The following table sets forth the significant components of deferred tax assets and liabilities for the Group:


	As of December 31,
	2019		2020

	(In thousands)
Deferred tax assets:
Net operating loss carry forwards	$	5,515	$	8,872
Valuation allowance		(5,515)		(8,872)
Depreciation, investment-related impairment, accounts receivable, accrued and other liabilities		42,932		107,892
Valuation allowance		(26,472)		(80,872)

Net deferred tax assets (included in other non-current assets)	$	16,460	$	27,020

Deferred tax liabilities:
Acquired intangible assets	$	1,793	$	30,999
Depreciation		1,044		1,435
Investment gain		31,135		25,496
Others		—		369

Total deferred tax liabilities	$	33,972	$	58,299

Valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group considered factors including (i) future reversals of existing taxable temporary differences; (ii) future taxable income exclusive of reversing temporary differences and carry forwards; and (iii) tax planning strategies. The valuation allowance on deferred tax assets as of December 31, 2019 and 2020 was $32.0 million and $89.7 million, respectively. The change in valuation allowance was primarily due to bad debt expenses and investment impairment charges/fair value change of investments. Historically, deferred tax assets were valued using the statutory rate of 25% for China operations. As of December 31, 2019 and 2020, the Group had net operating loss carry forwards for China operations totaling $22.1 million and $30.1 million, respectively, for which full valuation allowance was provided as the Group anticipates that it is more likely than not that these net operating losses may not be utilized based on its estimate of the operation performance of these PRC entities. Net operating loss carry forwards for China operations as of December 31, 2020 will expire, if unused, in the years ending December 31, 2021 through December 31, 2025.

Related Party Transactions

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

10. Related Party Transactions

The following sets forth significant related parties and their relationships with the Company:


Company Name		Relationship with the Company
SINA		Parent and affiliates under common control.

Alibaba		Strategic partner and significant shareholder of the Company.

During 2019 and 2020, the Group entered into a series of one-year loan agreements with SINA pursuant to which SINA is entitled to borrow from the Group to facilitate SINA’s business operations. SINA has withdrawn a total of $233.9 million and $473.8 million from the Group and repaid $43.6 million and $181.7 million to the Group during 2019 and 2020, respectively. As of December 31, 2019 and 2020, the loans to and interest receivable from SINA were $236.6 million and $547.9 million, respectively.

The following sets forth significant related party transactions with the Group:


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Transactions with SINA
Revenues billed through/for services provided to SINA⁽¹⁾	$	90,645	$	137,223	$	62,102
Costs and expenses allocated from SINA⁽²⁾	$	47,334	$	51,848	$	43,011
Interest income on loans to SINA	$	2,425	$	9,295	$	13,458

Transactions with Alibaba
Advertising and marketing revenues from Alibaba – as an advertiser	$	117,696	$	97,772	$	152,000
Advertising and marketing revenues from Alibaba – as an agent	$	—	$	—	$	36,597
Services provided by Alibaba	$	47,642	$	50,205	$	52,338

(1)	For the years ended December 31, 2018, 2019 and 2020, the Group charged $90.6 million, $137.2 million and $62.1 million for services to third parties billed through SINA and/or provided to SINA, respectively.

(2)

Costs and expenses allocated from SINA represented the charges for certain services provided by SINA’s affiliates and charged to the Group using actual cost allocation based on proportional utilization (Note 1). In addition to the allocated costs and expenses, SINA also billed $23.4 million, $37.5 million, and $48.3 million for other costs and expenses incurred by Weibo but paid by SINA in 2018, 2019 and 2020, respectively. During 2020, Weibo allocated $9.7 million to SINA for costs and expenses related to certain of SINA’s activities for which Weibo made the payments.

The following sets forth related party outstanding balances:


	As of December 31,
	2019		2020

		(In thousands)
Amount due from SINA⁽¹⁾	$	384,828	$	548,900
Accounts receivable due from Alibaba	$	60,392	$	135,321

Loan to and interest receivable from other related parties ^{(2) (3)}
- Company A (an investee in e-commerce business)	$	160,010	$	79,762
- Company B (an investee providing social and new media marketing services)	$	60,602	$	21,771
- Company C (an investee providing online brokerage services)	$	40,982	$	41,205
- others	$	39,932	$	15,884
Total	$	301,526	$	158,622

(1)

The Group uses amount due from/to SINA to settle balances arising from cost and expenses allocated from SINA based on proportional utilization, other expenditures incurred by Weibo business but paid by SINA, transactions with third-party customers and suppliers settled through SINA, as well as business transactions between Weibo and SINA. As of December 31, 2019 and 2020, the amount due from SINA also included loans to and interest receivable from SINA of $236.6 million at an annual interest rate of 4.5% and $547.9 million at annual interest rates ranging from 1.6% to 4.5% of maturity within one year, respectively.

(2)	The annual interest rates of the loans were ranging from 4% to 10% (interest free for Company B) and the maturities of all loans were within one year at December 31, 2019 and 2020, respectively.

(3)

The Group assessed the collectability of outstanding loans at least on annual basis or whenever impairment indicators noted. For the year ended December 31, 2020, the Group recognized $82.2 million impairment charges on loans to and interest receivable from other related parties due to their unsatisfied financial performance and decline in forecasted revenues.

Other related parties mainly include investee companies on which SINA or Weibo has significant influence. These investees are generally high-tech companies operating in different internet-related businesses, such as short video applications, e-commerce and so on. For the years ended December 31, 2018, 2019 and 2020, advertising and marketing revenues generated from other related parties were $130.2 million, $117.0 million and $46.5 million, while cost and expenses were $19.0 million, $31.2 million and $48.1 million, respectively. As of December 31, 2019 and 2020, other related parties accounted for outstanding balances of net accounts receivable of $99.7 million and $42.5 million, accounts payable of $10.7 million and $30.8 million, and accrued and other liabilities of $34.4 million and $4.8 million, respectively. In 2019, the Group signed an agreement with one related party, which is an equity investee in the short video business, to settle partial transaction amounts between the two parties, resulting in accounts receivable of $38.7 million due from the related party offset by accounts payable of $28.7 million and accrued and other liabilities of $10 million due to the related party on the consolidated balance sheet, where a legally enforceable right of setoff existed.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Employee Benefit Plans

Employee Benefit Plans

11. Employee Benefit Plans

China Contribution Plan

The Company’s subsidiaries, VIEs and VIEs’ subsidiaries in China participate in a government-mandated, multi-employer, defined contribution plan, pursuant to which certain retirement, medical, housing and other welfare benefits are provided to employees. Chinese labor laws require the entities incorporated in China to pay to the local labor and welfare authorities a monthly contribution at a stated contribution rate based on the monthly basic compensation of qualified employees. The local labor bureau is responsible for meeting all retirement benefit obligations. The Group has no further commitments beyond its monthly contribution. For the years ended December 31, 2018, 2019 and 2020, the Group’s total contribution was $53.7 million, $53.3 million and $51.1 million, respectively.

The entire disclosure for retirement benefits.

+ References

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+ Details

Net Income per Share

12 Months Ended

Dec. 31, 2020

Net Income per Share

Net Income per Share

12. Net Income per Share

Basic net income per share is computed using the weighted average number of the ordinary shares outstanding during the period. Options and RSUs are not considered outstanding in the computation of basic earnings per share (“EPS”). Diluted EPS is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under the treasury stock method. For the years ended December 31, 2018, 2019 and 2020, options to purchase ordinary shares and RSUs of 2.2 million, 1.0 million and 0.7 million, as well as the number of “if converted” shares related to convertible debt of 6.8 million in 2018, were recognized as dilutive factors and included in the calculation of diluted net income per share. For the years ended December 31, 2018, 2019 and 2020, options and RSUs which were anti-dilutive and excluded from the calculation of diluted net income per share were 0.06 million, 0.44 million and 3.26 million, respectively. During each of the years ended December 31, 2019 and 2020, shares of 6.8 million convertible from the convertible debt were anti-dilutive and excluded from the calculation of diluted net income per share.

The following table sets forth the computation of basic and diluted net income per share for the periods presented:


	Year Ended December 31,
	2018		2019		2020

	(In thousands, except per share data)
Basic net income per share calculation:
Numerator:
Net income attributable to Weibo	$	571,823	$	494,675	$	313,364
Denominator:
Weighted average ordinary shares outstanding		223,751		225,452		226,921
Basic net income per share attributable to Weibo	$	2.56	$	2.19	$	1.38

Diluted net income per share calculation:
Numerator:
Net income attributable to Weibo	$	571,823	$	494,675	$	313,364
Add: Effect on interest expenses and amortized issuance cost of convertible debt		15,390		—		—
Net income attributable to Weibo for calculating diluted net income per share		587,213		494,675		313,364
Denominator:
Weighted average ordinary shares outstanding		223,751		225,452		226,921
Effects of dilutive securities
Stock options		283		153		71
Unvested restricted share units		1,896		807		645
Convertible debt		6,753		—		—
Shares used in computing diluted net income per share attributable to Weibo		232,683		226,412		227,637
Diluted net income per share attributable to Weibo	$	2.52	$	2.18	$	1.38

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Information

Segment Information

13. Segment Information

The Group currently operates and manages its business in two principal business segments globally—advertising and marketing services and value-added services. Information regarding the business segments provided to the Group’s chief operating decision makers (“CODM”), its Chief Executive Officer, is at the revenue level and the Group currently does not allocate operating costs and expenses or assets to its segments, as its CODM does not use such information to allocate resources or evaluate the performance of the operating segments. As substantially all of the Group’s revenues are derived from the PRC and substantially all of the Group’s long-lived assets are located within the PRC, no geographical information is presented.

The following is a summary of the Group’s revenues:


Revenues	Advertising & Marketing		Value-added services		Total

	(In thousand)
Year ended December 31, 2018	$	1,499,180	$	219,338	$	1,718,518

Year ended December 31, 2019	$	1,530,211	$	236,703	$	1,766,914

Year ended December 31, 2020	$	1,486,155	$	203,776	$	1,689,931

Profit Appropriation and Restricted Net Assets

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Profit Appropriation and Restricted Net Assets

12 Months Ended

Dec. 31, 2020

Profit Appropriation and Restricted Net Assets

14. Profit Appropriation and Restricted Net Assets

The Company’s subsidiaries, VIEs and VIEs’ subsidiaries in China are required to make appropriations to certain non-distributable reserve funds. In accordance with the laws applicable to WFOEs in China, its subsidiaries have to make appropriations from their after-tax profit (as determined under Generally Accepted Accounting Principles in the PRC (“PRC GAAP”)) to non-distributable reserve funds including (i) general reserve fund, (ii) enterprise expansion fund and (iii) staff bonus and welfare fund. General reserve fund is at least 10% of the after-tax profits calculated in accordance with the PRC GAAP. Appropriation is not required if the reserve fund has reached 50% of the registered capital of the respective company. The appropriation of the other two reserve funds is at the Group’s discretion. At the same time, the Company’s VIEs, in accordance with the China Company Laws, must make appropriations from their after-tax profit (as determined under the PRC GAAP) to non-distributable reserve funds including (i) statutory surplus fund, and (ii) discretionary surplus fund. Statutory surplus fund is at least 10% of the after-tax profits calculated in accordance with the PRC GAAP. Appropriation is not required if the reserve fund has reached 50% of the registered capital of the respective company.

General reserve fund and statutory surplus fund are restricted for set off against losses, expansion of production and operation or increase in registered capital of the respective companies. These reserves are not transferable to the Company in the form of cash dividends, loans or advances. These reserves are therefore not available for distribution except in liquidation.

As of December 31, 2019 and 2020, the Group accrued approximately $105.8 million and $127.2 million in the general reserve/statutory surplus funds, respectively.

Under the PRC laws and regulations, the subsidiaries, VIEs and VIEs’ subsidiaries incorporated in the PRC are restricted in their ability to transfer a portion of their net assets to the Group either in the form of dividends, loans or advances of the consolidated net assets. Even though the Group currently does not require any such dividends, loans or advances from the PRC subsidiaries, VIEs and VIEs’ subsidiaries for working capital and other funding purposes, the Group may in the future require additional cash resources from the PRC subsidiaries, VIEs and VIEs’ subsidiaries due to changes in business conditions, to fund future acquisitions and development, or merely declare and pay dividends to or distribution to its shareholders. Net assets subject to restriction for the Group amounted to $451.7 million, or 15.6% of the Group’s total consolidated net assets as of December 31, 2020.

Fair Value Measurement

12 Months Ended

Dec. 31, 2020

Fair Value Measurement

Fair Value Measurement

15. Fair Value Measurement

The following table summarizes, for assets measured at fair value on a recurring basis, the respective fair value and the classification by level of input within the fair value hierarchy as of December 31, 2019 and 2020:


	Fair Value Measurements
	(in thousands)
			Quoted Prices in
			Active Market		Significant Other		Significant
			for Identical Assets		Observable Inputs		Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
As of December 31, 2019:
Bank time deposits *	$	951,235	$	—	$	951,235	$	—
Equity securities with readily determinable market value **		269,478		269,478		—		—
Total	$	1,220,713	$	269,478	$	951,235	$	—

As of December 31, 2020:
Bank time deposits *	$	1,515,880	$	—	$	1,515,880	$	—
Wealth management products *		166,168		—		166,168		—
Equity securities with readily determinable market value **		289,221		289,221		—		—
Total	$	1,971,269	$	289,221	$	1,682,048	$	—

* Included in short-term investments on the Group’s consolidated balance sheets.

** Included in long-term investments on the Group’s consolidated balance sheets.

Recurring

The Group measures short-term investments and equity securities with readily determinable fair values on a recurring basis. The fair value of the Group’s equity securities with readily determinable fair values are determined based on the quoted market price (Level 1). The fair value of the Group’s short-term investments are determined based on the quoted market price for similar products (Level 2).

Non-recurring

For those equity investments without readily determinable fair value, the Group measures them at fair value when observable price changes are identified or impairment charge were recognized. The fair values of the Group’s privately held investments as disclosed are determined based on the discounted cash flow model using the discount curve of market interest rates or based on the similar transaction price in the market directly. The Group classifies the valuation techniques on those investments that use similar identifiable transaction prices as Level 2 of fair value measurements. The Group measures equity method investments at fair value on a non-recurring basis only if an impairment charge is recognized.

Certain privately held investments were measured using significant unobservable inputs (Level 3) and written down from their respective carrying values to fair values, considering the investees’ financial performance, assumptions about future growth, and future financing plan, with impairment charges incurred and recorded in earnings for the year then ended. The Group recognized impairment charges of $23.6 million, $230.9 million and $126.8 million on these equity investments without readily determinable fair values for the years ended December 31, 2018, 2019 and 2020, respectively. As of December 31, 2019 and 2020, the carrying value of these impaired investments measured at Level 3 inputs were $77.5 million and $89.5 million, respectively. The fair value of the privately held investments was measured either based on discounted cash flow with unobservable inputs including the discount curve of market interest rates, which ranged from 12% to 23%, or based on comparing the operating metrics of public peer companies with the investees.

The Group’s non-financial assets, such as intangible assets, goodwill, fixed assets and operating lease assets, are measured at fair value only if they were determined to be impaired. In accordance with the Group’s policy to perform an impairment assessment of its goodwill on an annual basis as of the balance sheet date or when facts and circumstances warrant a review, the Group performed an impairment assessment on its goodwill by reporting unit annually. The Group recognized impairment charge of goodwill arising from previous acquisitions of $10.6 million, nil and nil for the years ended December 31, 2018, 2019 and 2020, respectively.

The carrying amount of cash and cash equivalents, short-term investments, accounts receivable due from third parties, accounts receivable due from Alibaba, accounts receivable due from other related parties, amount due from SINA, accounts payable, accrued and other liabilities approximates fair value because of their short-term nature.

Convertible Debt and Unsecured Senior Notes

12 Months Ended

Dec. 31, 2020

Convertible Debt and Unsecured Senior Notes

Convertible Debt and Unsecured Senior Notes

16. Convertible Debt and Unsecured Senior Notes

In October 2017, the Company issued $900 million in aggregate principal amount of 1.25% coupon interest convertible senior notes due on November 15, 2022 (“2022 Notes”) at par. The Notes may be converted into Weibo’s American depositary shares (“ADSs”), each representing one Class A ordinary share of the Company, at the option of the holders, which is equivalent to an initial conversion price of approximately $133.27 per ADS, subject to adjustment. The conversion rate may be adjusted under certain circumstances, such as distribution of dividends and stock splits. In addition, upon a make-whole fundamental change prior to the maturity date of the notes, the Company will, under certain circumstances, increase the applicable conversion rate for a holder that elects to convert his/her notes in connection with such make-whole fundamental change.

The net proceeds received by the Company from the issuance of the 2022 Notes were $879.3 million, net of issuance cost of $20.7 million. The Company will pay cash interest at an annual rate of 1.25%, payable semiannually in arrears on May 15 and November 15 of each year, beginning May 15, 2018. The issuance costs of the 2022 Notes are being amortized to interest expenses over the contractual life. The 2022 Notes related interest expenses were $15.4 million for each of the three years in the period ended December 31, 2020.

In July 2019, the Company issued $800 million in aggregate principal amount of unsecured senior notes due on July 5, 2024 (“2024 Notes”), unless previously repurchased or redeemed in accordance with the terms prior to maturity. The 2024 Notes were issued at par value and bear an annual interest rate of 3.50%, payable semiannually in arrears on January 5 and July 5 of each year, beginning on January 5, 2020. The net proceeds to the Company from the issuance of the 2024 Notes were $793.3 million, net of issuance cost of $6.7 million. The issuance costs of the 2024 Notes are being amortized to interest expenses over the contractual life. The 2024 Notes related interest expenses were $14.5 million and $29.3 million for the years ended December 31, 2019 and 2020, respectively.

In July 2020, the Company issued $750 million in aggregate principal amount of unsecured senior notes due on July 8, 2030 (“2030 Notes”), unless previously repurchased or redeemed in accordance with the terms prior to maturity. The 2030 Notes bear an annual interest rate of 3.375%, payable semiannually in arrears on January 8 and July 8 of each year, beginning on January 8, 2021. The net proceeds to the Company from the issuance of the 2030 Notes were $740.3 million, net of issuance cost of $9.7 million. The issuance costs of the 2030 Notes are being amortized to interest expenses over the contractual life. For the year ended December 31, 2020, the Group recognized $12.7 million interest expenses from the 2030 Notes.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies

Commitments and Contingencies

17. Commitments and Contingencies

Operating lease commitments include the commitments under the lease agreements for the Group’s office premises. The Group leases its office facilities under non-cancelable operating leases with various expiration dates. For the years ended December 31, 2018, 2019 and 2020, lease expense was $11.2 million, $11.5 million and $12.5 million, respectively. Based on the current rental lease agreements, commitments of future minimum lease payments as of December 31, 2020 were as follows:


			Less than One		One to		Three to		More than
Operating lease commitments	Total		Year		Three Years		Five Years		Five Years

	(In thousands)
As of December 31, 2020:	$	9,726	$	6,406	$	2,522	$	642	$	156

Purchase commitments mainly include minimum commitments for marketing activities and internet connection. Purchase commitments as of December 31, 2020 were as follows:


			Less than One		One to		Three to		More than
Purchase commitments	Total		Year		Three Years		Five Years		Five Years

	(In thousands)
As of December 31, 2020:	$	206,077	$	197,181	$	5,834	$	3,062	$	—

2022 Notes represent the future maximum commitments relating to the principal amount and interests in connection with the issuance of $900 million in aggregate principal amount of 1.25% coupon interest convertible senior notes, which will mature on November 15, 2022. 2024 Notes represent future maximum commitment relating to the principal amount and interests in connection with the issuance of $800 million in aggregate principal amount of unsecured senior notes bearing an annual interest rate of 3.50%, which will mature on July 5, 2024. 2030 Notes represent future maximum commitment relating to the principal amount and interests in connection with the issuance of $750 million in aggregate principal amount of unsecured senior notes bearing an annual interest rate of 3.375%, which will mature on July 8, 2030.


			Less than One		One to		Three to		More than
Other commitments	Total		Year		Three Years		Five Years		Five Years

	(In thousands)
2022 Notes	$	922,492	$	11,250	$	911,242	$	—	$	—
2024 Notes		898,000		14,000		56,000		828,000		—
2030 Notes		990,469		12,656		50,625		50,625		876,563
Total	$	2,810,961	$	37,906	$	1,017,867	$	878,625	$	876,563

There are uncertainties regarding the legal basis of the Group’s ability to operate an Internet business in China. Although China has implemented a wide range of market-oriented economic reforms, the telecommunication, information and media industries remain highly regulated. Not only are such restrictions currently in place, the existing regulations are unclear as to which specific segments of these industries companies with foreign investors, including the Company, may operate. Therefore, the Group may be required to limit the scope of its operations in China, and this could have a material adverse effect on its financial position, results of operations and cash flows.

There are no claims, lawsuits, investigations or proceedings, including unasserted claims that are probable to be assessed, that have in the recent past had, or to the Group’s knowledge, are reasonably possible to have, a material impact on the Group’s financial statements.

Redeemable Non-controlling Interests

12 Months Ended

Dec. 31, 2020

Redeemable Non-controlling Interests

Redeemable Non-controlling Interests

18. Redeemable Non-controlling Interests

In the fourth quarter of 2020, the Group entered into a series of share purchase agreements with then existing shareholders of JM Tech to acquire the majority of the company’s equity interest (Note 6). The Group agreed to redeem the non-controlling interests held by founder and CEO of the company under certain circumstances during the following years subsequent to the acquisition. The Group determined that the non-controlling interest with redemption rights should be classified as redeemable non-controlling interest since they are contingently redeemable upon the occurrence of certain conditional events, which are not solely within the control of the Group.

The redeemable non-controlling interests is recognized at fair value on the acquisition date. The Group records accretion on the redeemable non-controlling interest to the redemption value over the period from the date of the acquisition to the date of earliest redemption. The accretion using the effective interest method, is recorded as deemed dividends to preferred shareholders, which reduce retained earnings and equity classified non-controlling interests, and earnings available to common shareholders in calculating basic and diluted earnings per share.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Significant Accounting Policies

Basis of presentation

Use of estimates

Revenue recognition

Revenue disaggregated by revenue source for the years ended December 31, 2018, 2019 and 2020 consists of the following:


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Advertising and marketing revenues	$	1,499,180	$	1,530,211	$	1,486,155
Value-added services revenues		219,338		236,703		203,776
Total revenues	$	1,718,518	$	1,766,914	$	1,689,931

Practical Expedients and Exemptions

The Group generally expenses sales commissions when incurred because the amortization period is generally one year or less. These costs are recorded within sales and marketing expenses.

Advertising and marketing revenues

Value-added services revenues

Cost of revenues

Sales and marketing expenses

Product development expenses

Stock-based compensation

Taxation

Income taxes

Short-term investments

Credit losses

Fair value measurements

Financial instruments

●

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

●

Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Long-term investments

Business combination

Leases

Long-lived assets

Property and equipment

Goodwill

Intangible assets other than goodwill

Convertible debt and unsecured senior notes

Deferred revenues

Non-controlling interests

Foreign currency

Net Income per share

Segment reporting

Concentration of risks

Operations (Tables)

12 Months Ended

Dec. 31, 2020

Operations

Schedule of the Company's major subsidiaries, major VIE and major VIE's subsidiary


			Percentage of
			Direct/
			Indirect
	Date of	Place of	Economic
Company	Incorporation	Incorporation	Interest
Major Subsidiaries
Weibo Hong Kong Limited (“Weibo HK”)	July 19, 2010	Hong Kong	100	%

Weibo Internet Technology (China) Co., Ltd. (“Weibo Technology” or “the WFOE”)	October 11, 2010	PRC	100	%

WB Online Investment Limited (“WB Online”)	June 5, 2014	Cayman Islands	100	%

Major VIEs and major VIEs’ subsidiary
Beijing Weimeng Technology Co., Ltd (“Weimeng”)	August 9, 2010	PRC	99	%

Beijing Weibo Interactive Internet Technology Co., Ltd. (“Weibo Interactive”)	Acquired in May 2013	PRC	100	%

Beijing Weimeng Chuangke Investment Management Co., Ltd. (“Weimeng Chuangke”)	April 9, 2014	PRC	100	%

Schedule of total cost and expenses allocated from SINA


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Cost of revenues	$	16,824	$	22,246	$	19,462
Sales and marketing		11,558		9,770		5,966
Product development		11,688		13,141		10,505
General and administrative		7,264		6,691		7,078
	$	47,334	$	51,848	$	43,011

Schedule of assets, liabilities, results of operations and cash flows of the VIE and the VIE's subsidiaries taken as a whole.


	As of December 31,
	2019		2020

	(In thousands)
Cash, cash equivalents and short-term investments	$	99,465	$	445,210
Accounts receivable		420,686		431,022
Prepaid expenses and other current assets		101,363		55,653
Amount due from SINA		116,535		31,142
Property and equipment, net		243		692
Operating lease assets		686		1,783
Intangible assets		17,524		146,976
Goodwill		28,989		61,712
Long-term investments		380,420		394,745
Deferred tax assets		10,608		15,392
Others		8,625		223
Total assets	$	1,185,144	$	1,584,550

Accounts payable	$	86,417	$	83,336
Accrued and other liabilities		254,564		341,552
Deferred revenues		66,533		85,846
Income taxes payable		28,970		26,417
Amount due to the subsidiaries of the Group		632,900		968,138
Operating lease liability		586		1,704
Deferred tax liability		11,453		32,418
Other non-current liabilities		—		2,102
Total liabilities	$	1,081,423	$	1,541,513


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Net revenues	$	1,416,367	$	1,472,867	$	1,319,080
Net income (loss) after intercompany service fee charge	$	56,466	$	9,874	$	(129,126)


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Net cash provided by (used in) operating activities	$	46,738	$	(100,987)	$	328,469
Net cash used in investing activities	$	(331,243)	$	(280,404)	$	(272,958)
Net cash provided by financing activities	$	292,151	$	441,952	$	290,234
Net increase in cash and cash equivalents	$	7,646	$	60,561	$	345,745

Schedule of disaggregated revenue

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Significant Accounting Policies


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Advertising and marketing revenues	$	1,499,180	$	1,530,211	$	1,486,155
Value-added services revenues		219,338		236,703		203,776
Total revenues	$	1,718,518	$	1,766,914	$	1,689,931

Cash, Cash Equivalents and Short-term Investments (Tables)

12 Months Ended

Dec. 31, 2020

Cash, Cash Equivalents and Short-term Investments

Schedule of cash, cash equivalents and short-term investments


	As of December 31,
	2019		2020

	(In thousands)
Cash and cash equivalents:
Cash	$	1,452,985	$	1,814,844

Short-term investments:
Bank time deposits		951,235		1,515,880
Wealth management products		—		166,168
Subtotal		951,235		1,682,048

Total cash, cash equivalents and short-term investments	$	2,404,220	$	3,496,892

Long-term Investments (Tables)

12 Months Ended

Dec. 31, 2020

Long-term Investments

Schedule of changes in the Group's long-term investments


	Cost Method/
	Equity Securities				Available-for-Sale
	Without Readily				Securities/Equity Securities With
	Determinable Fair				Readily Determinable
	Values		Equity Method		Fair Values		Total

	(In thousands)
Balance at December 31, 2017	$	420,356	$	27,702	$	4,279	$	452,337
Investments made/transferred from prepayments		134,797		97,337		—		232,134
Income from equity method investment		—		57		—		57
Dividend received from equity method investment		—		(657)		—		(657)
Disposal of investments		—		(1,623)		—		(1,623)
Impairment on investments		(23,557)		—		—		(23,557)
Fair value change through earnings (including adjustment of subsequent price changes)		42,877		—		(2,803)		40,074
Currency translation adjustment		(3,854)		(325)		—		(4,179)
Balance at December 31, 2018	$	570,619	$	122,491	$	1,476	$	694,586
Investments made/transferred from prepayments		268,734		91,869		15,017		375,620
Loss from equity method investment		—		(13,198)		—		(13,198)
Dividend received from equity method investment		—		(932)		—		(932)
Disposal of investments		(1,724)		(165)		—		(1,889)
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values		(81,385)		—		81,385		—
Impairment on investments		(230,859)		—		—		(230,859)
Fair value change through earnings (including adjustment of subsequent price changes)		35,838		—		171,600		207,438
Currency translation adjustment		(2,621)		(686)		—		(3,307)
Balance at December 31, 2019	$	558,602	$	199,379	$	269,478	$	1,027,459
Investments made/transferred from prepayments		134,925		92,925		30,500		258,350
Income from equity method investment		—		10,434		—		10,434
Dividend received from equity method investment		—		(320)		—		(320)
Disposal of investments		(2,067)		—		(48,334)		(50,401)
Impairment on investments		(126,820)		—		—		(126,820)
Fair value change through earnings (including adjustment of subsequent price changes)		(2,462)		—		37,577		35,115
Currency translation adjustment		16,906		8,743		—		25,649
Balance at December 31, 2020	$	579,084	$	311,161	$	289,221	$	1,179,466

Schedule of the total carrying value of the equity securities accounted for measurement alternative


	Cumulative Results
Initial cost basis	$	738,035
Upward adjustments		81,458
Downward adjustments (impairment only)		(254,416)
Foreign currency translation		(6,475)
Total carrying value at December 31, 2019	$	558,602

Initial cost basis	$	870,893
Upward adjustments		81,458
Downward adjustments		(383,698)
Foreign currency translation		10,431
Total carrying value at December 31, 2020	$	579,084

Schedule of the carrying amount and fair value of the marketable security


			Gross		Gross
	Cost		Unrealized		Unrealized		Fair
	Basis		Gains		Losses		Value

	(In thousands)
Showworld	$	81,385	$	176,169	$	—	$	257,554
Other marketable securities		20,292		513		(8,881)		11,924
December 31, 2019	$	101,677	$	176,682	$	(8,881)	$	269,478
Showworld	$	81,385	$	204,675	$	—	$	286,060
Other marketable securities		15,274		—		(12,113)		3,161
December 31, 2020	$	96,659	$	204,675	$	(12,113)	$	289,221

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases

Schedule of components of lease cost


	Year Ended December 31,
	2019		2020

	(In thousands)
Operating lease cost	$	4,693	$	4,902
Short term lease cost		2,663		3,167
Variable lease cost		4,172		4,479
Total lease cost	$	11,528	$	12,548

Schedule of other information related to leases


	Year Ended December 31,
	2019		2020

Supplemental Cash Flows Information:		(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases	$	(4,683)	$	(5,522)
Operating lease assets obtained in exchange for operating lease liabilities	$	944	$	1,675

Schedule of maturities of lease liabilities under operating leases

Maturities of lease liabilities under operating leases as of December 31, 2020 were as follows:


Year Ended December 31,	(In thousands)
2021	$	6,406
2022		2,207
2023		315
2024		319
2025 and thereafter		479
Total future payments for recognized leasing assets	$	9,726
Less: leases not commenced yet		2,396
Less: imputed interest		245
Total lease liabilities	$	7,085

Acquisitions, Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of the changes in the Group's goodwill by segment


	Advertising &		Value-added
	Marketing		services		Total

	(In thousands)
Balance as of December 31, 2017	$	2,318	$	11,102	$	13,420
Acquisition of Yizhibo		27,152		—		27,152
Impairment		—		(10,554)		(10,554)
Currency translation adjustment		(124)		(548)		(672)
Balance as of December 31, 2018	$	29,346	$	—	$	29,346
Currency translation adjustment		(357)		—		(357)
Balance as of December 31, 2019	$	28,989	$	—	$	28,989
Acquisition of JM Tech		—		30,075		30,075
Currency translation adjustment		1,910		738		2,648
Balance as of December 31, 2020	$	30,899	$	30,813	$	61,712

Table summarizes the Group's intangible assets arising from acquisitions


	As of December 31, 2019						As of December 31, 2020
			Accumulated						Accumulated
	Cost		Amortization		Net		Cost		Amortization		Net

	(In thousand)						(In thousand)
Games	$	—	$	—	$	—	$	127,238	$	(2,199)	$	125,039
Technology		8,869		(3,351)		5,518		9,544		(4,417)		5,127
Trademark and Domain name		5,555		(724)		4,831		12,788		(1,542)		11,246
Supplier-relationship		9,619		(2,444)		7,175		10,253		(4,689)		5,564
Others		2,298		(2,298)		—		2,449		(2,449)		—
Total	$	26,341	$	(8,817)	$	17,524	$	162,272	$	(15,296)	$	146,976

Schedule of estimated amortization expenses


Year Ended December 31,	(In thousands)
2021	$	17,633
2022		17,630
2023		16,942
2024		15,413
2025 and thereafter		79,358
Total expected amortization expenses	$	146,976

Yizhibo

Schedule of consideration of acquisition was allocated based on their fair value of the assets acquired and the liabilities assumed


	As of October 1, 2018
	(In thousands)
Consideration	$	50,000

Property and equipment, net	$	466
Identifiable intangible assets acquired		21,942
Other tangible assets		2,874
Liabilities assumed		(2,434)
Goodwill		27,152
Total	$	50,000

JM Tech

Schedule of consideration of acquisition was allocated based on their fair value of the assets acquired and the liabilities assumed


	As of October 31, 2020
	(In thousands)
Consideration	$	218,590
Redeemable non-controlling interest (Note 18)		55,192
Non-controlling interest		16,133
Total	$	289,915

Short-term investments acquired	$	155,205
Other assets acquired		26,087
Identifiable intangible assets acquired		124,196
Goodwill		30,075
Liabilities assumed		(45,648)
Total	$	289,915

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of the stock-based compensation


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Cost of revenues	$	3,522	$	5,251	$	5,384
Sales and marketing		6,837		9,828		9,983
Product development		21,187		28,628		33,093
General and administrative		9,465		17,582		18,645
Total	$	41,011	$	61,289	$	67,105

Summary of the number of shares available for issuance


		Shares Available
		(In thousands)
December 31, 2017		18,540
Addition		—
Granted*		(1,597)
Cancelled/expired/forfeited		350

December 31, 2018		17,293
Addition		—
Granted*		(2,411)
Cancelled/expired/forfeited		222

December 31, 2019		15,104
Addition		—
Granted*		(3,040)
Cancelled/expired/forfeited		431

December 31, 2020		12,495

Summary of option activities under the Company's stock option program


				Weighted Average
	Options	Weighted Average		Remaining	Aggregate
	Outstanding	Exercise Price		Contractual Life	Intrinsic Value
	(In thousands)			(In years)	(In thousands)
December 31, 2017	437	$	3.24	2.0	$	43,800
Granted	—	$	—
Exercised	(248)	$	3.14
Cancelled/expired/forfeited	(5)	$	1.16

December 31, 2018	184	$	3.45	1.5	$	10,089
Granted	—	$	—
Exercised	(95)	$	3.41
Cancelled/expired/forfeited	—	$	—

December 31, 2019	89	$	3.49	0.7	$	3,799
Granted	482	$	32.68
Exercised	(16)	$	3.47
Cancelled/expired/forfeited	(4)	$	30.96

December 31, 2020	551	$	28.85	5.8	$	6,683

Vested and expected to vest as of December 31, 2019	89	$	3.49	0.7	$	3,799
Exercisable as of December 31, 2019	89	$	3.49	0.7	$	3,799

Vested and expected to vest as of December 31, 2020	503	$	28.50	5.7	$	6,294
Exercisable as of December 31, 2020	72	$	3.50	0.2	$	2,707

Schedule of stock options outstanding


		Weighted			Weighted		Weighted Average
	Options	Average		Options	Average		Remaining
Range of Exercise Prices	Outstanding	Exercise Price		Exercisable	Exercise Price		Contractual Life
	(In thousands)			(In thousands)			(In years)
As of December 31, 2019
$ 3.43 - $3.50	89	$	3.49	89	$	3.49	0.7
As of December 31, 2020
$ 3.43 - $3.50	72	$	3.50	72	$	3.50	0.2
$ 32.68 - $32.68	479	$	32.68	—	$	—	—
	551	$	28.85	72	$	3.50	0.2

Performance-Based Restricted Share Units

Summary of restricted share unit activities


		Weighted-Average
		Grant Date
	Shares Granted	Fair Value
	(In thousands)
December 31, 2017	129	$	50.32
Awarded	191	$	86.63
Vested	(126)	$	50.32
Cancelled	(190)	$	86.90

December 31, 2018	4	$	87.14
Awarded	98	$	64.33
Vested	(4)	$	87.14
Cancelled	(39)	$	69.14

December 31, 2019	59	$	61.17
Awarded	46	$	36.49
Vested	(54)	$	60.16
Cancelled	(34)	$	36.49

December 31, 2020	17	$	36.49

Service-Based Restricted Share Units

Summary of restricted share unit activities


		Weighted-
		Average
	Shares	Grant Date
	Granted	Fair Value
	(In thousands)
December 31, 2017	3,267	$	25.45
Awarded	1,406	$	68.18
Vested	(1,757)	$	21.59
Cancelled	(160)	$	44.00

December 31, 2018	2,756	$	48.62
Awarded	2,313	$	45.49
Vested	(1,374)	$	37.60
Cancelled	(183)	$	48.48

December 31, 2019	3,512	$	50.89
Awarded	2,512	$	33.50
Vested	(1,307)	$	49.12
Cancelled	(393)	$	44.96

December 31, 2020	4,324	$	41.86

Other Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2020

Other Balance Sheet Components

Schedule of other balance sheet components


	As of December 31,
	2018		2019		2020

		(In thousands)
Accounts receivable, net:
Due from third parties			$	298,752	$	343,220
Due from Alibaba				60,392		135,321
Due from other related parties				99,675		48,625

Total gross amount			$	458,819	$	527,166
Allowance for credit losses
Balance at the beginning of the year		(8,114)		(12,429)		(36,594)
Additional provision charged to expenses, net		(6,226)		(38,561)		(53,124)
Write-off		1,911		14,396		54,562

Balance at the end of the year		(12,429)		(36,594)		(35,156)
			$	422,225	$	492,010

Prepaid expenses and other current assets:
Rental and other deposits			$	371	$	1,186
Deductible value-added taxes				652		598
Investment prepayments⁽¹⁾				47,069		15,308
Loans to and interest receivable from other related parties (Note 10)				301,526		158,622
Loans to and interest receivable from third parties				14,421		41,784
Advertising prepayment				3,406		18,888
Prepayment to outsourced service providers				3,483		3,719
Amounts deposited by users⁽²⁾				34,912		45,745
Content fees				14,013		3,080
Others				5,052		7,827
			$	424,905	$	296,757

Property and equipment, net:
Computers and equipment			$	132,477	$	165,880
Leasehold improvements				5,732		6,429
Furniture and fixtures				1,725		2,159
Others				3,696		5,077

Property and equipment, gross				143,630		179,545
Less: Accumulated depreciation				(96,901)		(118,913)
			$	46,729	$	60,632

Accrued and other liabilities⁽³⁾:
Payroll and welfare			$	84,394	$	126,023
Marketing expenses				77,046		59,410
Sales rebates				140,629		222,064
Professional fees				13,437		3,880
VAT and other tax payable				50,662		49,971
Payable to other service providers				578		398
Amounts due to users⁽²⁾				34,912		45,745
Unpaid consideration for acquisition				—		10,280
Unpaid consideration for investment				30,000		19,257
Interest payable for convertible debt and unsecured senior notes				15,344		923
Others				13,870		18,802
			$	460,872	$	556,753

(1)

(2)

(3)	Include amounts due to third parties, employees, related parties (Note 10) and Weibo wallet users.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Schedule of income before income taxes


	Year Ended December 31,
	2018			2019			2020

	(In thousands, except percentage)
Income before income tax expenses	$	668,842		$	602,397		$	375,913
Add: loss from non-China operations		43,266			106,256			57,031
Income from China operations	$	712,108		$	708,653		$	432,944
Income tax expense applicable to China operations	$	96,222		$	88,091		$	58,464
Income tax expense applicable to non-China operations		—			21,473			2,852
Total income tax expenses	$	96,222		$	109,564		$	61,316
Effective tax rate for China operations		13.5	%		12.4	%		13.5	%

Schedule of current and deferred portion of income tax expenses


	Years Ended December 31,
	2018		2019		2020

		(In thousands)
Deferred tax provisions (benefits)	$	4,438	$	16,839	$	(15,727)
Current income tax expenses		91,784		92,725		77,043

Income tax expenses	$	96,222	$	109,564	$	61,316

Schedule of reconciliation between the statutory EIT rate and the effective tax rate for China operations


	Year Ended December 31,
	2018		2019		2020
Statutory EIT rate	25.0	%	25.0	%	25.0	%
Effect on tax holiday and preferential tax treatment⁽¹⁾	(12.1)	%	(13.7)	%	(20.9)	%
Research and development super-deduction	(0.1)	%	(1.2)	%	(3.0)	%
Non-deductible expenses and non-taxable income, net	0.7	%	0.3	%	(0.5)	%
Change in valuation allowance	—	%	2.0	%	12.9	%

Effective tax rate for China operations	13.5	%	12.4	%	13.5	%

(1)

Schedule of significant components of deferred tax assets and liabilities for China operations


	As of December 31,
	2019		2020

	(In thousands)
Deferred tax assets:
Net operating loss carry forwards	$	5,515	$	8,872
Valuation allowance		(5,515)		(8,872)
Depreciation, investment-related impairment, accounts receivable, accrued and other liabilities		42,932		107,892
Valuation allowance		(26,472)		(80,872)

Net deferred tax assets (included in other non-current assets)	$	16,460	$	27,020

Deferred tax liabilities:
Acquired intangible assets	$	1,793	$	30,999
Depreciation		1,044		1,435
Investment gain		31,135		25,496
Others		—		369

Total deferred tax liabilities	$	33,972	$	58,299

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Related Party Transactions

Schedule of significant related parties and their relationships with the Company


Company Name		Relationship with the Company
SINA		Parent and affiliates under common control.

Alibaba		Strategic partner and significant shareholder of the Company.

Schedule of significant related party transactions with the Company


	Year Ended December 31,
	2018		2019		2020

	(In thousands)
Transactions with SINA
Revenues billed through/for services provided to SINA⁽¹⁾	$	90,645	$	137,223	$	62,102
Costs and expenses allocated from SINA⁽²⁾	$	47,334	$	51,848	$	43,011
Interest income on loans to SINA	$	2,425	$	9,295	$	13,458

Transactions with Alibaba
Advertising and marketing revenues from Alibaba – as an advertiser	$	117,696	$	97,772	$	152,000
Advertising and marketing revenues from Alibaba – as an agent	$	—	$	—	$	36,597
Services provided by Alibaba	$	47,642	$	50,205	$	52,338

(1)	For the years ended December 31, 2018, 2019 and 2020, the Group charged $90.6 million, $137.2 million and $62.1 million for services to third parties billed through SINA and/or provided to SINA, respectively.

(2)


	As of December 31,
	2019		2020

		(In thousands)
Amount due from SINA⁽¹⁾	$	384,828	$	548,900
Accounts receivable due from Alibaba	$	60,392	$	135,321

Loan to and interest receivable from other related parties ^{(2) (3)}
- Company A (an investee in e-commerce business)	$	160,010	$	79,762
- Company B (an investee providing social and new media marketing services)	$	60,602	$	21,771
- Company C (an investee providing online brokerage services)	$	40,982	$	41,205
- others	$	39,932	$	15,884
Total	$	301,526	$	158,622

(1)

(2)	The annual interest rates of the loans were ranging from 4% to 10% (interest free for Company B) and the maturities of all loans were within one year at December 31, 2019 and 2020, respectively.

(3)

Net Income per Share (Tables)

12 Months Ended

Dec. 31, 2020

Net Income per Share

Schedule of basic and diluted net income per share


	Year Ended December 31,
	2018		2019		2020

	(In thousands, except per share data)
Basic net income per share calculation:
Numerator:
Net income attributable to Weibo	$	571,823	$	494,675	$	313,364
Denominator:
Weighted average ordinary shares outstanding		223,751		225,452		226,921
Basic net income per share attributable to Weibo	$	2.56	$	2.19	$	1.38

Diluted net income per share calculation:
Numerator:
Net income attributable to Weibo	$	571,823	$	494,675	$	313,364
Add: Effect on interest expenses and amortized issuance cost of convertible debt		15,390		—		—
Net income attributable to Weibo for calculating diluted net income per share		587,213		494,675		313,364
Denominator:
Weighted average ordinary shares outstanding		223,751		225,452		226,921
Effects of dilutive securities
Stock options		283		153		71
Unvested restricted share units		1,896		807		645
Convertible debt		6,753		—		—
Shares used in computing diluted net income per share attributable to Weibo		232,683		226,412		227,637
Diluted net income per share attributable to Weibo	$	2.52	$	2.18	$	1.38

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Information

Summary of the Group's revenues


Revenues	Advertising & Marketing		Value-added services		Total

	(In thousand)
Year ended December 31, 2018	$	1,499,180	$	219,338	$	1,718,518

Year ended December 31, 2019	$	1,530,211	$	236,703	$	1,766,914

Year ended December 31, 2020	$	1,486,155	$	203,776	$	1,689,931

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Measurement

Schedule of assets measured at fair value on a recurring basis, the respective fair value and the classification by level of input within the fair value hierarchy


	Fair Value Measurements
	(in thousands)
			Quoted Prices in
			Active Market		Significant Other		Significant
			for Identical Assets		Observable Inputs		Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
As of December 31, 2019:
Bank time deposits *	$	951,235	$	—	$	951,235	$	—
Equity securities with readily determinable market value **		269,478		269,478		—		—
Total	$	1,220,713	$	269,478	$	951,235	$	—

As of December 31, 2020:
Bank time deposits *	$	1,515,880	$	—	$	1,515,880	$	—
Wealth management products *		166,168		—		166,168		—
Equity securities with readily determinable market value **		289,221		289,221		—		—
Total	$	1,971,269	$	289,221	$	1,682,048	$	—

* Included in short-term investments on the Group’s consolidated balance sheets.

** Included in long-term investments on the Group’s consolidated balance sheets.

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies

Schedule of future minimum lease payments commitments


			Less than One		One to		Three to		More than
Operating lease commitments	Total		Year		Three Years		Five Years		Five Years

	(In thousands)
As of December 31, 2020:	$	9,726	$	6,406	$	2,522	$	642	$	156

Schedule of purchase commitments


			Less than One		One to		Three to		More than
Purchase commitments	Total		Year		Three Years		Five Years		Five Years

	(In thousands)
As of December 31, 2020:	$	206,077	$	197,181	$	5,834	$	3,062	$	—

Schedule of other commitments


			Less than One		One to		Three to		More than
Other commitments	Total		Year		Three Years		Five Years		Five Years

	(In thousands)
2022 Notes	$	922,492	$	11,250	$	911,242	$	—	$	—
2024 Notes		898,000		14,000		56,000		828,000		—
2030 Notes		990,469		12,656		50,625		50,625		876,563
Total	$	2,810,961	$	37,906	$	1,017,867	$	878,625	$	876,563

Operations (Details) $ in Millions	1 Months Ended	12 Months Ended
Operations (Details) $ in Millions	Apr. 30, 2014 USD ($)	Dec. 31, 2020 Vote
Class A ordinary shares
Operations
Number of votes each share is entitled to		1
Number of Class A shares converted from Class B shares		1
Class B ordinary shares
Operations
Number of votes each share is entitled to		3
IPO \| Class A ordinary shares
Operations
Proceeds from IPO \| $	$ 306.5
Weimeng
Operations
Percentage of Direct/Indirect Economic Interest in VIEs		99.00%
Weibo Interactive
Operations
Percentage of Direct/Indirect Economic Interest in VIEs		100.00%
Weimeng Chuangke
Operations
Percentage of Direct/Indirect Economic Interest in VIEs		100.00%
Weibo HK
Operations
Percentage of Direct/Indirect Economic Interest		100.00%
Weibo Technology
Operations
Percentage of Direct/Indirect Economic Interest		100.00%
WB Online
Operations
Percentage of Direct/Indirect Economic Interest		100.00%

Operations - Assets, Liabilities, Statement of Operations and Cash Flows (Details) ¥ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2020 CNY (¥) director	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Operations
Allocated expenses from SINA		$ 43,011,000	$ 51,848,000	$ 47,334,000
Interest-free loans to the VIE's shareholders		89,500,000	81,100,000
Aggregate accumulated income (loss)		(96,100,000)	33,100,000
Assets and liabilities of the VIEs and their subsidiaries
Cash, cash equivalents and short-term investments		3,496,892,000	2,404,220,000
Prepaid expenses and other current assets		296,757,000	424,905,000
Property and equipment, net		60,632,000	46,729,000
Operating lease assets		7,176,000	9,730,000
Intangible assets		146,976,000	17,524,000
Goodwill		61,712,000	28,989,000	29,346,000	$ 13,420,000
Long-term investments		1,179,466,000	1,027,459,000	694,586,000	$ 452,337,000
Total assets		6,335,117,000	4,804,186,000
Accounts payable		149,509,000	126,247,000
Accrued and other liabilities		556,753,000	460,872,000
Deferred revenues		143,684,000	108,783,000
Income taxes payable		102,844,000	100,245,000
Operating lease liability		7,085,000
Deferred tax liability		58,299,000	33,972,000
Other non-current liabilities		2,102,000
Total liabilities		3,448,787,000	2,522,367,000
Results of operations of the VIEs and their subsidiaries
Net revenues		1,689,931,000	1,766,914,000	1,718,518,000
Net income (loss) after intercompany service fee charge		313,364,000	494,675,000	571,823,000
Cash flows of the VIE and its subsidiary
Net cash provided by (used in) operating activities		741,646,000	631,653,000	488,007,000
Net cash used in investing activities		(1,214,315,000)	(1,201,358,000)	(254,032,000)
Net cash provided by financing activities		741,963,000	791,869,000	(1,415,000)
Contractual Arrangements with the VIE
Assets, except for registered capital of VIEs, that can only be used to settle obligations of the respective VIEs		0	0
Registered capital and non-distributable reserve funds of VIE and its subsidiaries		$ 196,600,000	152,000,000.0
Term of loan agreements		10 years
Service fees revenue charged to VIE		$ 766,800,000	832,400,000	842,600,000
New Weimeng Shareholder
Minority Investment In Weimeng
Sale of subsidiaries' shares to non-controlling interests \| ¥	¥ 10.7
Percentage of enlarged registered capital invested	1.00%
Number of member of board of directors the entity has right to appoint \| director	3
Consolidated VIEs
Operations
Allocated expenses from SINA		8,700,000	27,600,000	25,600,000
Assets and liabilities of the VIEs and their subsidiaries
Cash, cash equivalents and short-term investments		445,210,000	99,465,000
Accounts receivable		431,022,000	420,686,000
Prepaid expenses and other current assets		55,653,000	101,363,000
Amount due from SINA		31,142,000	116,535,000
Property and equipment, net		692,000	243,000
Operating lease assets		1,783,000	686,000
Intangible assets		146,976,000	17,524,000
Goodwill		61,712,000	28,989,000
Long-term investments		394,745,000	380,420,000
Deferred tax assets		15,392,000	10,608,000
Others		223,000	8,625,000
Total assets		1,584,550,000	1,185,144,000
Accounts payable		83,336,000	86,417,000
Accrued and other liabilities		341,552,000	254,564,000
Deferred revenues		85,846,000	66,533,000
Income taxes payable		26,417,000	28,970,000
Amount due to the subsidiaries of the Group		968,138,000	632,900,000
Operating lease liability		1,704,000	586,000
Deferred tax liability		32,418,000	11,453,000
Other non-current liabilities		2,102,000
Total liabilities		1,541,513,000	1,081,423,000
Results of operations of the VIEs and their subsidiaries
Net revenues		1,319,080,000	1,472,867,000	1,416,367,000
Net income (loss) after intercompany service fee charge		(129,126,000)	9,874,000	56,466,000
Cash flows of the VIE and its subsidiary
Net cash provided by (used in) operating activities		328,469,000	(100,987,000)	46,738,000
Net cash used in investing activities		(272,958,000)	(280,404,000)	(331,243,000)
Net cash provided by financing activities		290,234,000	441,952,000	292,151,000
Net increase in cash and cash equivalents		$ 345,745,000	60,561,000	7,646,000
Weimeng
Minority Investment In Weimeng
Percentage of equity interests the entity will not be able to purchase or have the New Weimeng Shareholder pledge		1.00%
Percentage of equity interests for which the authorization of voting rights will not be granted to entity		1.00%
Percentage of equity interests issued		1.00%
Cost of revenues
Operations
Allocated expenses from SINA		$ 19,462,000	22,246,000	16,824,000
Sales and marketing
Operations
Allocated expenses from SINA		5,966,000	9,770,000	11,558,000
Product development
Operations
Allocated expenses from SINA		10,505,000	13,141,000	11,688,000
General and administrative
Operations
Allocated expenses from SINA		$ 7,078,000	$ 6,691,000	$ 7,264,000

Significant Accounting Policies (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Revenues			$ 1,689,931	$ 1,766,914	$ 1,718,518
Revenue recognized that was included in the deferred revenue			$ 91,500	88,300	67,200
Costs and Expenses
VAT and surcharges (as a percent)			6.70%
Sales and Marketing Expenses
Advertising and promotional expenses			$ 330,900	352,300	428,800
Stock options
Stock-based compensation
Vesting period			4 years
Service-Based Restricted Share Units
Stock-based compensation
Vesting period			4 years
Advertising and marketing revenues
Revenues:
Revenues			$ 1,486,155	1,530,211	1,499,180
Costs and Expenses
Cultural business construction fees (as a percent)	1.50%	3.00%	3.00%
Taxes on advertising and marketing revenues			$ 6,400	40,700	52,900
Advertising and marketing revenues \| Maximum
Revenues:
Period over social display ad arrangements allow customers to place advertisements on particular areas of the Group's platform in particular formats			3 months
Value-added services
Revenues:
Revenues			$ 203,776	$ 236,703	$ 219,338

Significant Accounting Policies - Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease asset	$ 7,176	$ 9,730
Operating lease liability	$ 7,085
Restatement adjustment \| ASU 2016-02, "Leases (Topic 842)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease asset			$ 14,400
Operating lease liability			$ 14,900

Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property and equipment
Depreciation expenses	$ 26.5	$ 22.4	$ 18.5
Computers and equipment \| Minimum
Property and equipment
Estimated useful lives of assets	3 years
Computers and equipment \| Maximum
Property and equipment
Estimated useful lives of assets	4 years
Furniture and fixtures
Property and equipment
Estimated useful lives of assets	5 years

Significant Accounting Policies - Intangible Assets Other Than Goodwill, Foreign Currency and Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Foreign currency
Currency translation adjustments \| $	$ 148,547	$ (19,029)	$ (60,273)
Segment reporting
Number of principal business segments \| segment	2
Minimum
Intangible assets other than goodwill
Estimated useful lives of intangible assets	4 years
Maximum
Intangible assets other than goodwill
Estimated useful lives of intangible assets	10 years

Significant Accounting Policies - Concentration of Risks (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) customer Agency	Dec. 31, 2019 USD ($) Agency	Dec. 31, 2018 Agency
Concentration of risks
Cash, cash equivalents and short-term investments	$ 3,496,892	$ 2,404,220
Current liabilities denominated in RMB	958,370	800,855
Cash, cash equivalents and short-term investments \| Concentration of credit risk \| China
Concentration of risks
Cash, cash equivalents and short-term investments	$ 3,000,000	2,200,000
Maximum term of original maturity of time deposits	12 months
Cash, cash equivalents and short-term investments \| Concentration of foreign currency risks \| RMB
Concentration of risks
Cash, cash equivalents and short-term investments	$ 1,651,300	$ 936,900
Percentage of benchmark derived from specified source	47.00%	39.00%
Consolidated net revenues benchmark \| Customer concentration risk
Concentration of risks
Other customers or advertising agencies accounting for 10% or more of the Group's revenues \| customer	0
Consolidated net revenues benchmark \| Customer concentration risk \| Alibaba
Concentration of risks
Percentage of benchmark derived from specified source	9.00%	6.00%	7.00%
Consolidated net accounts receivables benchmark \| Concentration of credit risk \| Alibaba
Concentration of risks
Percentage of benchmark derived from specified source	28.00%	14.00%
Consolidated net accounts receivables benchmark \| Concentration of foreign currency risks \| RMB
Concentration of risks
Accounts receivable denominated in RMB	$ 492,000	$ 422,200
Current liabilities \| Concentration of foreign currency risks \| RMB
Concentration of risks
Current liabilities denominated in RMB	$ 947,600	$ 744,200
Percentage of benchmark derived from specified source	99.00%	93.00%
Advertising and marketing revenues \| Consolidated net revenues benchmark \| Customer concentration risk \| Top 10 advertising agencies \| China
Concentration of risks
Number of advertising agencies \| Agency	10	10	10
Percentage of benchmark derived from specified source	32.00%	28.00%	26.00%

Cash, Cash Equivalents and Short-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents:
Cash	$ 1,814,844	$ 1,452,985	$ 1,234,596	$ 1,000,953
Short-term investments:
Bank time deposits	1,515,880	951,235
Wealth management products	166,168
Subtotal	1,682,048	951,235
Total cash, cash equivalents and short-term investments	3,496,892	2,404,220
Interest income	$ 85,829	$ 85,386	$ 57,970
Maximum maturity period of time deposits and wealth management products	1 year

Long-term Investments - Changes in Long-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-term investments
Balance at the beginning of the year	$ 1,027,459	$ 694,586	$ 452,337
Investments made/transfers from prepayments	258,350	375,620	232,134
Income (loss) from equity method investments	10,434	(13,198)	57
Dividend received from equity method investment	(320)	(932)	(657)
Disposal of investments	(50,401)	(1,889)	(1,623)
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values		0
Impairment on investments	(126,820)	(230,859)	(23,557)
Fair value change through earnings (including adjustment of subsequent price changes)	35,115	207,438	40,074
Currency translation adjustment	25,649	(3,307)	(4,179)
Balance at the end of year	1,179,466	1,027,459	694,586
Cost Method/Equity Securities Without Readily Determinable Fair Values
Long-term investments
Balance at the beginning of the year	558,602	570,619	420,356
Investments made/transfers from prepayments	134,925	268,734	134,797
Income (loss) from equity method investments	0	0	0
Dividend received from equity method investment	0	0	0
Disposal of investments	(2,067)	(1,724)	0
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values		(81,385)
Impairment on investments	(126,820)	(230,859)	(23,557)
Fair value change through earnings (including adjustment of subsequent price changes)	(2,462)	35,838	42,877
Currency translation adjustment	16,906	(2,621)	(3,854)
Balance at the end of year	579,084	558,602	570,619
Equity Method
Long-term investments
Balance at the beginning of the year	199,379	122,491	27,702
Investments made/transfers from prepayments	92,925	91,869	97,337
Income (loss) from equity method investments	10,434	(13,198)	57
Dividend received from equity method investment	(320)	(932)	(657)
Disposal of investments	0	(165)	(1,623)
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values		0
Impairment on investments	0	0	0
Fair value change through earnings (including adjustment of subsequent price changes)	0	0	0
Currency translation adjustment	8,743	(686)	(325)
Balance at the end of year	311,161	199,379	122,491
Available-for-Sale Securities/Equity Securities With Readily Determinable Fair Values
Long-term investments
Balance at the beginning of the year	269,478	1,476	4,279
Investments made/transfers from prepayments	30,500	15,017	0
Income (loss) from equity method investments	0	0	0
Dividend received from equity method investment	0	0	0
Disposal of investments	(48,334)	0	0
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values		81,385
Impairment on investments	0	0	0
Fair value change through earnings (including adjustment of subsequent price changes)	37,577	171,600	(2,803)
Currency translation adjustment	0	0	0
Balance at the end of year	$ 289,221	$ 269,478	$ 1,476

Long-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
Long-term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-term Investments
Investments made/transferred from prepayments	$ 258,350	$ 375,620	$ 232,134
Impairment charge	211,985	249,935	24,074
Cost Method/Equity Securities Without Readily Determinable Fair Values
Long-term Investments
Investments made/transferred from prepayments	134,925	268,734	134,797
Cost Method/Equity Securities Without Readily Determinable Fair Values \| Private high tech companies
Long-term Investments
Investments made/transferred from prepayments	134,900	268,700
Cost Method/Equity Securities Without Readily Determinable Fair Values \| Yixia Tech
Long-term Investments
Investments made/transferred from prepayments		100,000
Aggregate gross investment		290,000
Impairment charge		214,700
Cost Method/Equity Securities Without Readily Determinable Fair Values \| A financing guarantee company
Long-term Investments
Investments made/transferred from prepayments	46,800
Cost Method/Equity Securities Without Readily Determinable Fair Values \| A commercial search business
Long-term Investments
Investments made/transferred from prepayments	30,600
Equity Method
Long-term Investments
Investments made/transferred from prepayments	$ 92,925	91,869	$ 97,337
Equity Method \| A company providing consumer finance services
Long-term Investments
Investments made/transferred from prepayments		$ 57,400

Long-term Investments - Carrying Value of Equity Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Total carrying value of the equity securities
Initial cost basis	$ 870,893	$ 738,035
Upward adjustments	81,458	81,458
Downward adjustments (impairment only)	(383,698)	(254,416)
Foreign currency translation	10,431	(6,475)
Total carrying value at the end of the period	$ 579,084	$ 558,602

Long-term Investments - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-term Investments
Impairment charges during the year	$ 126,820	$ 230,859	$ 23,557
Impairment charge	211,985	249,935	24,074
Unrealized gain on investments	204,675	176,682
Equity securities with readily determinable market value**	289,221	269,478
Other marketable securities
Long-term Investments
Unrealized gain on investments		513
Equity securities with readily determinable market value**	3,161	11,924
Equity Method
Long-term Investments
Impairment charges during the year	0	0	0
Unrealized gain on investments	204,700	176,200
Cost Method/Equity Securities Without Readily Determinable Fair Values
Long-term Investments
Impairment charges during the year	$ 126,820	230,859	$ 23,557
Cost Method/Equity Securities Without Readily Determinable Fair Values \| Yixia Tech
Long-term Investments
Impairment charge		$ 214,700

Long-term Investments - Carrying Amount and Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Carrying amount and fair value of the marketable security
Cost Basis	$ 96,659	$ 101,677
Gross Unrealized Gains	204,675	176,682
Gross Unrealized Losses	(12,113)	(8,881)
Fair value of Investments	289,221	269,478
Showworld
Carrying amount and fair value of the marketable security
Cost Basis	81,385	81,385
Gross Unrealized Gains	204,675	176,169
Fair value of Investments	286,060	257,554
Other marketable securities
Carrying amount and fair value of the marketable security
Cost Basis	15,274	20,292
Gross Unrealized Gains		513
Gross Unrealized Losses	(12,113)	(8,881)
Fair value of Investments	$ 3,161	$ 11,924

Long-term Investments - Impairment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-term Investments
Impairment charge	$ 211,985	$ 249,935	$ 24,074
Write-offs of prepayments	1,500	19,100	$ 500
Equity Method
Long-term Investments
Write-offs of prepayments		19,100
Other impairments	30,700	16,200
Investee in e-commerce business \| Cost Method/Equity Securities Without Readily Determinable Fair Values
Long-term Investments
Impairment charge	59,800
A game company \| Cost Method/Equity Securities Without Readily Determinable Fair Values
Long-term Investments
Impairment charge	39,300
Loans to investees. \| Cost Method/Equity Securities Without Readily Determinable Fair Values
Long-term Investments
Impairment charge	$ 82,200
Yixia Tech \| Cost Method/Equity Securities Without Readily Determinable Fair Values
Long-term Investments
Impairment charge		$ 214,700

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Components of lease cost
Operating lease cost	$ 4,902	$ 4,693
Short term lease cost	3,167	2,663
Variable lease cost	4,479	4,172
Total lease cost	12,548	11,528
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases	(5,522)	(4,683)
Operating lease assets obtained in exchange for operating lease liabilities	1,675	$ 944
Maturities of lease liabilities under operating leases
2021	6,406
2022	2,207
2023	315
2024	319
2025 and thereafter	479
Total future payments for recognized leasing assets	9,726
Less: leases not commenced yet	2,396
Less: imputed interest	245
Total lease liabilities	$ 7,085
Average remaining lease term	2 years 2 months 12 days	2 years 2 months 12 days
Weighted-average discount rate (as a percent)	5.00%	5.00%
Lease contracts that has been entered into but not yet commenced	$ 2,400

Acquisitions, Goodwill and Intangible Assets - Allocation of Consideration (Details) $ in Thousands				12 Months Ended
	Oct. 31, 2020 USD ($)	Oct. 01, 2019 USD ($)	Oct. 01, 2018 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) item	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Acquisitions, Goodwill and Intangible Assets
Number of new acquisitions \| item					0
Business combination allocated based on fair value of the assets and the liabilities
Goodwill				$ 61,712	$ 28,989	$ 29,346	$ 13,420
Maximum
Acquisitions, Goodwill and Intangible Assets
Estimated useful lives of intangible assets				10 years
Minimum
Acquisitions, Goodwill and Intangible Assets
Estimated useful lives of intangible assets				4 years
Yizhibo
Acquisitions, Goodwill and Intangible Assets
Cash consideration		$ 10,000	$ 40,000
Business combination allocated based on fair value of the assets and the liabilities
Consideration			50,000
Property and equipment, net			466
Other assets acquired			2,874
Identifiable intangible assets acquired			21,942
Goodwill			27,152
Liabilities assumed			(2,434)
Total consideration			$ 50,000
Revenue increase due to acquisition						$ 28,000
Yizhibo \| Supplier-relationship
Acquisitions, Goodwill and Intangible Assets
Estimated useful lives of intangible assets			5 years
Business combination allocated based on fair value of the assets and the liabilities
Identifiable intangible assets acquired			$ 9,700
Yizhibo \| Core Technology
Acquisitions, Goodwill and Intangible Assets
Estimated useful lives of intangible assets			8 years
Business combination allocated based on fair value of the assets and the liabilities
Identifiable intangible assets acquired			$ 6,600
Yizhibo \| Trademark and Domain name
Acquisitions, Goodwill and Intangible Assets
Estimated useful lives of intangible assets			10 years
Business combination allocated based on fair value of the assets and the liabilities
Identifiable intangible assets acquired			$ 5,600
JM Tech
Business combination allocated based on fair value of the assets and the liabilities
Consideration	$ 218,590
Redeemable non-controlling interest	55,192
Non-controlling interest	16,133
Short-term investments acquired	155,205
Other assets acquired	26,087
Identifiable intangible assets acquired	124,196
Goodwill	30,075
Liabilities assumed	(45,648)
Total consideration	$ 289,915
Revenue increase due to acquisition				$ 11,500
Net income increase due to business acquisition				$ 7,200
JM Tech \| Maximum
Acquisitions, Goodwill and Intangible Assets
Estimated useful lives of intangible assets	10 years
JM Tech \| Minimum
Acquisitions, Goodwill and Intangible Assets
Estimated useful lives of intangible assets	4 years

Acquisitions, Goodwill and Intangible Assets - Changes in the Group's Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Changes in the Group's goodwill by segment
Balance at the beginning of the year	$ 28,989,000	$ 29,346,000	$ 13,420,000
Impairment			(10,554,000)
Currency translation adjustment	2,648,000	(357,000)	(672,000)
Balance at the end of the year	61,712,000	28,989,000	29,346,000
Impairment of goodwill	0	0	10,600,000
Advertising and marketing revenues
Changes in the Group's goodwill by segment
Balance at the beginning of the year	28,989,000	29,346,000	2,318,000
Currency translation adjustment	1,910,000	(357,000)	(124,000)
Balance at the end of the year	30,899,000	$ 28,989,000	29,346,000
Value-added services
Changes in the Group's goodwill by segment
Balance at the beginning of the year			11,102,000
Impairment			(10,554,000)
Currency translation adjustment	738,000		(548,000)
Balance at the end of the year	30,813,000
Yizhibo
Changes in the Group's goodwill by segment
Acquisition of Yizhibo and JM Tech			27,152,000
Yizhibo \| Advertising and marketing revenues
Changes in the Group's goodwill by segment
Acquisition of Yizhibo and JM Tech			$ 27,152,000
JM Tech
Changes in the Group's goodwill by segment
Acquisition of Yizhibo and JM Tech	30,075,000
JM Tech \| Value-added services
Changes in the Group's goodwill by segment
Acquisition of Yizhibo and JM Tech	$ 30,075,000

Acquisitions, Goodwill and Intangible Assets - Intangible assets arising from acquisitions (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Acquired finite-lived intangible assets
Cost	$ 162,272	$ 26,341
Accumulated Amortization	(15,296)	(8,817)
Intangible assets, net	146,976	17,524
Game
Acquired finite-lived intangible assets
Cost	127,238
Accumulated Amortization	(2,199)
Intangible assets, net	125,039
Technology
Acquired finite-lived intangible assets
Cost	9,544	8,869
Accumulated Amortization	(4,417)	(3,351)
Intangible assets, net	5,127	5,518
Trademark and Domain name
Acquired finite-lived intangible assets
Cost	12,788	5,555
Accumulated Amortization	(1,542)	(724)
Intangible assets, net	11,246	4,831
Supplier-relationship
Acquired finite-lived intangible assets
Cost	10,253	9,619
Accumulated Amortization	(4,689)	(2,444)
Intangible assets, net	5,564	7,175
Others
Acquired finite-lived intangible assets
Cost	2,449	2,298
Accumulated Amortization	$ (2,449)	$ (2,298)

Acquisitions, Goodwill and Intangible Assets - Future Amortization Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Acquisitions, Goodwill and Intangible Assets
Intangible assets, net	$ 146,976	$ 17,524
Amortization expense	5,700	3,400	$ 1,300
Future estimated amortization expenses
2021	17,633
2022	17,630
2023	16,942
2024	15,413
2025 and thereafter	79,358
Intangible assets, net	$ 146,976	$ 17,524

Stock-Based Compensation - Incentive Plan Details (Details) - shares shares in Millions		1 Months Ended	12 Months Ended
	Jan. 01, 2015	Mar. 31, 2014	Dec. 31, 2020
Stock-Based Compensation
Stock based compensation, amortization period			4 years
Performance-based restricted shares
Stock-Based Compensation
Stock based compensation, amortization period			1 year
2014 Plan
Stock-Based Compensation
Ordinary shares reserved for issuance		4.6
Number of additional shares for the plan		1.0
Term of share incentive plan	10 years
One-time percentage increase on January 1, 2015 for maximum aggregate number of shares which may be issued (as a percent)	10.00%

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock-based compensation
Total	$ 67,105	$ 61,289	$ 41,011
Cost of revenues
Stock-based compensation
Total	5,384	5,251	3,522
Sales and marketing
Stock-based compensation
Total	9,983	9,828	6,837
Product development
Stock-based compensation
Total	33,093	28,628	21,187
General and administrative
Stock-based compensation
Total	$ 18,645	$ 17,582	$ 9,465

Stock-Based Compensation - Number of Shares Available for Issuance (Details) - USD ($) $ / shares in Units, shares in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of shares available for issuance
Outstanding number of shares available for issuance at the beginning of the year (in shares)		15,104	17,293	18,540
Granted (in shares)		(3,040)	(2,411)	(1,597)
Cancelled/expired/forfeited (in shares)		431	222	350
Outstanding number of shares available for issuance at the end of the year (in shares)		12,495	15,104	17,293	18,540
Aggregate Intrinsic Value
Fair value per ordinary share (in dollars per share)		$ 40.99	$ 46.35	$ 58.43
Cash received from the exercise of stock option		$ 122,000	$ 275,000	$ 781,000
2014 Plan
Number of shares available for issuance
Addition (in shares)	1,000
Stock options
Number of shares available for issuance
Granted (in shares)		482
Options Outstanding
Outstanding at the beginning of the year (in shares)		89	184	437
Options granted (in shares)		482
Exercised (in shares)		(16)	(95)	(248)
Cancelled/expired/forfeited (in shares)		(4)		(5)
Outstanding at the end of the year (in shares)		551	89	184	437
Vested and expected to vest at the end of the year (in shares)		503	89
Exercisable at the end of the year (in shares)		72	89
Weighted Average Exercise Price
Outstanding at the beginning of the year (in dollars per share)		$ 3.49	$ 3.45	$ 3.24
Granted (in dollars per share)		32.68
Exercised (in dollars per share)		3.47	3.41	3.14
Cancelled/expired/forfeited (in dollars per share)		30.96		1.16
Outstanding at the end of the year (in dollars per share)		28.85	3.49	$ 3.45	$ 3.24
Vested and expected to vest at the end of the year (in dollars per share)		28.50	3.49
Exercisable at the end of the year (in dollars per share)		$ 3.50	$ 3.49
Weighted Average Remaining Contractual Life (In years)
Outstanding at the end of the year		5 years 9 months 18 days	8 months 12 days	1 year 6 months	2 years
Vested and expected to vest at the end of the year		5 years 8 months 12 days	8 months 12 days
Exercisable at the end of the year		2 months 12 days	8 months 12 days
Aggregate Intrinsic Value
Outstanding at the end of the year		$ 6,683,000	$ 3,799,000	$ 10,089,000	$ 43,800,000
Vested and expected to vest at the end of the year		6,294,000	3,799,000
Exercisable at the end of the year		2,707,000	3,799,000
Total intrinsic value of options exercised		500,000	4,200,000	25,600,000
Cash received from the exercise of stock option		100,000	300,000	$ 800,000
Unrecognized compensation cost		$ 5,400,000	$ 0
Expected weighted-average recognition period for unrecognized compensation cost		3 years 7 months 6 days
Stock options \| 2014 Plan
Number of shares available for issuance
Granted (in shares)		500
Options Outstanding
Options granted (in shares)		500
Restricted share units \| 2014 Plan
Number of shares available for issuance
Restricted shares units granted (in shares)		2,500	2,400	1,600

Stock-Based Compensation - Summary of Option Activities (Details) - Stock options - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Range of Exercise Prices
Options Outstanding (in shares)	551
Weighted Average Exercise Price (in dollars per share)	$ 28.85
Options Exercisable (in shares)	72
Weighted Average Exercise Price (in dollars per share)	$ 3.50
Weighted Average Remaining Contractual Life (In years)	2 months 12 days
$3.43 - $3.50
Range of Exercise Prices
Exercise prices, outstanding stock option awards, low end of range (in dollars per share)	$ 3.43	$ 3.43
Exercise prices, outstanding stock option awards, high end of range (in dollars per share)	$ 3.50	$ 3.50
Options Outstanding (in shares)	72	89
Weighted Average Exercise Price (in dollars per share)	$ 3.50	$ 3.49
Options Exercisable (in shares)	72	89
Weighted Average Exercise Price (in dollars per share)	$ 3.50	$ 3.49
Weighted Average Remaining Contractual Life (In years)	2 months 12 days	8 months 12 days
$32.68 - $32.68
Range of Exercise Prices
Exercise prices, outstanding stock option awards, low end of range (in dollars per share)	$ 32.68
Exercise prices, outstanding stock option awards, high end of range (in dollars per share)	$ 32.68
Options Outstanding (in shares)	479
Weighted Average Exercise Price (in dollars per share)	$ 32.68
Weighted Average Remaining Contractual Life (In years)	0 years

Stock-Based Compensation - Restricted Share Units (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Performance-Based Restricted Share Units
Shares Granted
Outstanding at the beginning of the year (in shares)	59	4	129
Awarded (in shares)	46	98	191
Vested (in shares)	(54)	(4)	(126)
Cancelled (in shares)	(34)	(39)	(190)
Outstanding at the end of the year (in shares)	17	59	4
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the year (in dollars per share)	$ 61.17	$ 87.14	$ 50.32
Awarded (in dollars per share)	36.49	64.33	86.63
Vested (in dollars per share)	60.16	87.14	50.32
Cancelled (in dollars per share)	36.49	69.14	86.90
Outstanding at the end of the year (in dollars per share)	$ 36.49	$ 61.17	$ 87.14
Unrecognized compensation cost	$ 0.1	$ 0.4
Service-Based Restricted Share Units
Shares Granted
Outstanding at the beginning of the year (in shares)	3,512	2,756	3,267
Awarded (in shares)	2,512	2,313	1,406
Vested (in shares)	(1,307)	(1,374)	(1,757)
Cancelled (in shares)	(393)	(183)	(160)
Outstanding at the end of the year (in shares)	4,324	3,512	2,756
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the year (in dollars per share)	$ 50.89	$ 48.62	$ 25.45
Awarded (in dollars per share)	33.50	45.49	68.18
Vested (in dollars per share)	49.12	37.60	21.59
Cancelled (in dollars per share)	44.96	48.48	44.00
Outstanding at the end of the year (in dollars per share)	$ 41.86	$ 50.89	$ 48.62
Unrecognized compensation cost	$ 139.6	$ 150.7
Expected weighted-average recognition period for unrecognized compensation cost	2 years 10 months 24 days	3 years 2 months 12 days
Total fair value vested	$ 64.2	$ 51.7	$ 37.9

Other Balance Sheet Components - Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts receivable, net:
Total gross amount	$ 527,166	$ 458,819
Allowance for credit losses
Balance at the beginning of the year	(36,594)	(12,429)	$ (8,114)
Additional provision charged to expenses, net	(53,124)	(38,561)	(6,226)
Write-off	54,562	14,396	1,911
Balance at the end of the year	(35,156)	(36,594)	$ (12,429)
Accounts receivable, net allowances for doubtful amounts	492,010	422,225
Alibaba
Accounts receivable, net:
Total gross amount	135,321	60,392
Other related parties
Accounts receivable, net:
Total gross amount	48,625	99,675
Allowance for credit losses
Balance at the beginning of the year	0
Balance at the end of the year	(6,095)	0
Accounts receivable, net allowances for doubtful amounts	42,530	99,675
Third parties
Accounts receivable, net:
Total gross amount	343,220	298,752
Allowance for credit losses
Balance at the beginning of the year	(36,594)
Balance at the end of the year	(29,061)	(36,594)
Accounts receivable, net allowances for doubtful amounts	$ 314,159	$ 262,158

Other Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepaid expenses and other current assets:
Rental and other deposits	$ 1,186	$ 371
Deductible value-added taxes	598	652
Investment prepayments	15,308	47,069
Loans to and interest receivable from other related parties (Note 10)	158,622	301,526
Loans to and interest receivable from third parties	41,784	14,421
Advertising prepayment	18,888	3,406
Prepayment to outsourced service providers	3,719	3,483
Amounts deposited by users	45,745	34,912
Content fees	3,080	14,013
Others	7,827	5,052
Prepaid expenses and other current assets	$ 296,757	$ 424,905

Other Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, net:
Property and equipment, gross	$ 179,545	$ 143,630
Less: Accumulated depreciation	(118,913)	(96,901)
Property and equipment, net	60,632	46,729
Computers and equipment
Property and equipment, net:
Property and equipment, gross	165,880	132,477
Leasehold improvements
Property and equipment, net:
Property and equipment, gross	6,429	5,732
Furniture and fixtures
Property and equipment, net:
Property and equipment, gross	2,159	1,725
Others
Property and equipment, net:
Property and equipment, gross	$ 5,077	$ 3,696

Other Balance Sheet Components - Accrued and other Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accrued and other liabilities:
Payroll and welfare	$ 126,023	$ 84,394
Marketing expenses	59,410	77,046
Sales rebates	222,064	140,629
Professional fees	3,880	13,437
VAT and other tax payable	49,971	50,662
Payable to other service providers	398	578
Amounts due to users	45,745	34,912
Unpaid consideration for acquisition	10,280
Unpaid consideration for investment	19,257	30,000
Interest payable for convertible debt and unsecured senior notes	923	15,344
Others	18,802	13,870
Total accrued and other liabilities	556,753	460,872
Impairment charges on investment prepayments	$ 1,500	$ 19,100	$ 500

Income Taxes (Details) $ / shares in Units, $ in Thousands, $ in Millions			12 Months Ended
	Jan. 01, 2018	Jan. 01, 2015	Dec. 31, 2020 USD ($) jurisdiction $ / shares	Dec. 31, 2019 HKD ($)	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Income taxes
Number of taxable jurisdictions \| jurisdiction			2
Components of income before income taxes
Income before income tax expenses			$ 375,913		$ 602,397	$ 668,842
Add: loss from non-China operations			57,031		106,256	43,266
Income from China operations			432,944		708,653	712,108
Income tax expenses			$ 61,316		$ 109,564	$ 96,222
Effective tax rate for China operations (as a percent)			13.50%	12.40%	12.40%	13.50%
Income tax rate (as a percent)			25.00%	25.00%	25.00%	25.00%
Composition of income tax expenses for China operations
Deferred tax provisions (benefits)			$ (15,727)		$ 16,839	$ 4,438
Current income tax expenses			77,043		92,725	91,784
Income tax expenses			$ 61,316		$ 109,564	$ 96,222
Reconciliation of the statutory tax rate to the effective tax rate for China operations
Statutory EIT rate (as a percent)			25.00%	25.00%	25.00%	25.00%
Effect on tax holiday and preferential tax treatment (as a percent)			(20.90%)	(13.70%)	(13.70%)	(12.10%)
Research and development super-deduction (as a percent)			(3.00%)	(1.20%)	(1.20%)	(0.10%)
Non-deductible expenses and non-taxable income, net (as a percent)			(0.50%)	0.30%	0.30%	0.70%
Change in valuation allowance (as a percent)			12.90%	2.00%	2.00%
Effective tax rate for China operations (as a percent)			13.50%	12.40%	12.40%	13.50%
Deferred tax assets:
Net operating loss carry forwards			$ 8,872		$ 5,515
Less: Valuation allowance			(8,872)		(5,515)
Depreciation, investment-related impairment, accounts receivable, accrued and other liabilities			107,892		42,932
Less: Valuation allowance			(80,872)		(26,472)
Net deferred tax assets (included in other non-current assets)			27,020		16,460
Deferred tax liabilities:
Acquired intangible assets			30,999		1,793
Depreciation			1,435		1,044
Investment gain			25,496		31,135
Others			369
Total deferred tax liabilities			58,299		33,972
Valuation allowance on deferred tax assets			89,700		32,000
Non-China
Components of income before income taxes
Income tax expenses			2,852		21,473
Deferred tax charges from fair value change of investments			2,900		21,500
Composition of income tax expenses for China operations
Income tax expenses			$ 2,852		$ 21,473
Cayman Islands
Components of income before income taxes
Withholding income tax on dividends distributed by subsidiaries to its immediate holding entity outside China (as a percent)			0.00%
Hong Kong
Components of income before income taxes
Withholding profits earned				$ 2
Income tax rate (as a percent)			16.50%	16.50%	16.50%	16.50%
Withholding income tax rate for dividend paid to foreign tax resident investors (as a percentage)				8.25%	8.25%
Net operating loss carry forwards			$ 10,400
Reconciliation of the statutory tax rate to the effective tax rate for China operations
Statutory EIT rate (as a percent)			16.50%	16.50%	16.50%	16.50%
China
Components of income before income taxes
Income tax expenses			$ 58,464		$ 88,091	$ 96,222
Withholding income tax on dividends distributed by subsidiaries to its immediate holding entity outside China (as a percent)			10.00%
Income tax rate (as a percent)			25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%
Net operating loss carry forwards			$ 30,100		$ 22,100
Maximum percentage of withholding income tax on dividends distributed by subsidiaries to its immediate holding entity in Hong Kong			5.00%
Percentage of ownership interests held by foreign investors			25.00%
Percentage of withholding income tax on dividends distributed by PRC subsidiaries to its immediate holding company in Hong Kong			5.00%
Composition of income tax expenses for China operations
Income tax expenses			$ 58,464		$ 88,091	$ 96,222
Reconciliation of the statutory tax rate to the effective tax rate for China operations
Statutory EIT rate (as a percent)			25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%
Deferred tax liabilities:
Historical rate for valuing deferred tax assets (as a percent)			25.00%
China \| Software enterprise
Components of income before income taxes
Period of income tax exemption		2 years
Reduction in preferential tax rate (as a percent)	50.00%
Preferential statutory rate (as a percent)				12.50%	12.50%	12.50%	12.50%
Period of reduced preferential income tax rate	3 years
China \| key software enterprise
Components of income before income taxes
Preferential statutory rate (as a percent)				10.00%	10.00%	10.00%	10.00%
China \| High and New Technology Enterprises
Components of income before income taxes
Preferential statutory rate (as a percent)			15.00%
Weibo Technology
Reconciliation of the statutory tax rate to the effective tax rate for China operations
Effect of preferential tax treatment					$ 83,200	$ 77,200
Effect of tax exemption and preferential tax on basic net income per share (USD per share) \| $ / shares			$ 0.40		$ 0.43	$ 0.39
Weibo Technology \| key software enterprise
Reconciliation of the statutory tax rate to the effective tax rate for China operations
Preferential tax treatment recognized			$ 13,400		$ 13,000	$ 10,800
Weibo Technology \| High and New Technology Enterprises
Reconciliation of the statutory tax rate to the effective tax rate for China operations
Effect of preferential tax treatment			$ 55,100

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related party transactions
Costs and expenses allocated from SINA(2)	$ 43,011	$ 51,848	$ 47,334
Related party outstanding balance:
Amount due from SINA	548,900	384,828
Accounts receivable due from Alibaba	492,010	422,225
Loans to and interest receivable	158,622	301,526
Impairment charges on loans to and interest receivable from other related parties	82,200
Revenues	1,689,931	1,766,914	1,718,518
Accounts receivable due from related party offset		38,700
Accounts payable due to related party offset		28,700
Accrued and other liabilities due to related party offset		10,000
Advertising and marketing revenues
Related party outstanding balance:
Revenues	$ 1,486,155	$ 1,530,211	1,499,180
SINA
Related party transactions
Loan agreement term	1 year	1 year
Loan to SINA	$ 473,777	$ 233,884	149,460
Loan repaid by SINA	181,697	43,567	101,060
Revenue billed through/for service provided to SINA(1)	62,102	137,223	90,645
Costs and expenses allocated from SINA(2)	43,011	51,848	47,334
Interest income on loan to SINA	13,458	9,295	2,425
Other costs and expenses billed by SINA	48,300	37,500	23,400
Costs and expenses paid by weibo on behalf of SINA and allocated	9,700
Related party outstanding balance:
Amount due from SINA	548,900	384,828
Loans to and interest receivable	$ 547,900	$ 236,600
Annual interest rate		4.50%
SINA \| Minimum
Related party outstanding balance:
Annual interest rate	1.60%
SINA \| Maximum
Related party outstanding balance:
Annual interest rate	4.50%
Alibaba
Related party transactions
Services provided by Alibaba	$ 52,338	$ 50,205	47,642
Alibaba \| Advertiser
Related party outstanding balance:
Accounts receivable due from Alibaba	135,321	60,392
Advertising and marketing revenues from related party	152,000	97,772	117,696
Alibaba \| Agent
Related party outstanding balance:
Advertising and marketing revenues from related party	36,597
Alibaba \| Advertising and marketing revenues
Related party outstanding balance:
Revenues	188,597	97,772	117,696
Company A
Related party outstanding balance:
Loans to and interest receivable	79,762	160,010
Company B
Related party outstanding balance:
Loans to and interest receivable	$ 21,771	60,602
Company B \| Minimum
Related party outstanding balance:
Annual interest rate	4.00%
Company B \| Maximum
Related party outstanding balance:
Annual interest rate	10.00%
Company C
Related party outstanding balance:
Loans to and interest receivable	$ 41,205	40,982
Other related parties
Related party outstanding balance:
Accounts receivable due from Alibaba	42,530	99,675
Loans to and interest receivable	15,884	39,932
Advertising and marketing revenues from related party	46,500	117,000	130,200
Cost and expenses recognized from transactions with other related parties	48,100	31,200	$ 19,000
Accounts receivable due from other related parties	42,500	99,700
Accounts payable due to other related parties	30,800	10,700
Accrued and other liabilities due to other related parties	$ 4,800	$ 34,400

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
China Contribution Plan
Employee Benefit Plans
Employer contribution under China Contribution Plan	$ 51.1	$ 53.3	$ 53.7

Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income attributable to Weibo	$ 313,364	$ 494,675	$ 571,823
Denominator:
Weighted average ordinary shares outstanding (in shares)	226,921	225,452	223,751
Basic net income per share attributable to Weibo (in dollars per share)	$ 1.38	$ 2.19	$ 2.56
Numerator:
Net income attributable to Weibo	$ 313,364	$ 494,675	$ 571,823
Add: Effect on interest expenses and amortized issuance cost of convertible debt			15,390
Net income attributable to Weibo for calculating diluted net income per share	$ 313,364	$ 494,675	$ 587,213
Denominator:
Weighted average ordinary shares outstanding (in shares)	226,921	225,452	223,751
Effects of dilutive securities for convertible debt (in shares)	6,800		6,753
Shares used in computing diluted net income per share attributable to Weibo (in shares)	227,637	226,412	232,683
Diluted net income per share attributable to Weibo (in dollars per share)	$ 1.38	$ 2.18	$ 2.52
Options and RSUs
Anti-dilutive share
Anti-dilutive share excluded from the calculation of diluted net income per share	3,260	440	60
Denominator:
Effects of dilutive securities (in shares)	700	1,000	2,200
Stock options
Denominator:
Effects of dilutive securities (in shares)	71	153	283
Restricted share units
Denominator:
Effects of dilutive securities (in shares)	645	807	1,896
Convertible notes
Anti-dilutive share
Anti-dilutive share excluded from the calculation of diluted net income per share	6,800	6,800

Segment Information (Details) $ in Thousands	12 Months Ended
Segment Information (Details) $ in Thousands	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary information by segment
Number of principal business segments \| segment	2
Revenues	$ 1,689,931	$ 1,766,914	$ 1,718,518
Advertising and marketing revenues
Summary information by segment
Revenues	1,486,155	1,530,211	1,499,180
Value-added services
Summary information by segment
Revenues	$ 203,776	$ 236,703	$ 219,338