Sina Corporation (SINA, Financial) is a leading Chinese Internet portal and the majority owner of SINA Weibo, the largest Twitter-like microblogging service in China. Sina was a detractor in the first quarter due to concerns over slowing user growth, as well as the dilutive impact of the pending IPO of Weibo, where Alibaba exercised its option to increase its stake in Weibo from 18% to 30%. We continue to own shares in Sina, as we believe Weibo is worth more than its current embedded valuation.
From Baron Funds' first quarter 2014 commentary.
