Bloggers in China have expressed their frustrations over Twitter's stellar IPO, suggesting that the U.S. microblogging site does not match up to similar services in their own market.
A report Friday by South China Morning Post (SCMP) quoted various comments made online following the which had been closely watched by the Chinese media. Several said they were stunned by the stellar performance of a website that "never existed" in the Chinese market where Twitter is banned. Although earlier reports suggested the ban on online services such as Twitter and Facebook would be , later reports dismissed this move.
After making its debut on the NYSE, the U.S. microblogging site saw itsfrom its IPO pricetag of US$26 to US$44.9 at closing on Thursday.
It triggered a range of comments from Chinese microbloggers, with one stating: "A website that we can't even open is now worth US$24 billion? It's a crazy world we are living in."
Another noted the gap between the Asian economic powerhouse and other nations. "This is the moment when you realize that China is so apart from the rest of the world," wrote a New York-based blogger with 500,000 followers.
Others responded by saying Sina Weibo, the most popular microblogging service in China, was easier to use than Twitter. To which the New York-based blogger replied: "Those who say they don't even like using Twitter are missing the point. How can you be glad when you are deprived of the right in the first place?"
Another microblogger joked: "There are really only two countries in the world--'China' and 'foreign countries'."
and its competitor have over 500 million , according to the SCMP report, which noted Sina's share value--listed on Nasdaq--fell more than 3 percent on the day of Twitter's IPO.
In his post on the IPO, tech lawyer and ZDNet blogger Andrew Stott opined that the company's high valuation--based on its US$26 IPO pricetag--seemed. He noted that companies such as Alibaba, Baidu, and Sina Weibo, appeared under-priced because they offered richer user experience and more features than Twitter.