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Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2023

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 group

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2021			2022			2023
​	​	(In US$ thousands)
Transactions with SINA	​	​	​	​	​	​	​	​	​
Revenue billed through SINA	​	$	68,351	​	$	44,962	​	$	41,557
Revenue from services provided to SINA	​	​	43,170	​	​	31,984	​	​	25,253
Total	​	$	111,521	​	$	76,946	​	$	66,810
​	​	​	​	​	​	​	​	​	​
Costs and expenses allocated from SINA(1)	​	$	38,270	​	$	47,178	​	$	36,483
Interest income on loans to SINA	​	$	17,943	​	$	14,770	​	$	14,913
​	​	​	​	​	​	​	​	​	​
Transactions with Alibaba	​	​	​	​	​	​	​	​	​
Advertising and marketing revenues from Alibaba – as an advertiser	​	$	139,561	​	$	106,974	​	$	111,608
Advertising and marketing revenues from Alibaba – as an agent	​	$	41,680	​	$	223	​	$	—
Services provided by Alibaba	​	$	44,006	​	$	33,745	​	$	23,366

(1) Costs and expenses allocated from SINA represented the charges for certain services provided by SINA or 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 US$48.0 million,US $37.7 million and US$24.9 million for other costs and expenses incurred by Weibo but paid by SINA for the years ended December 31, 2021, 2022 and 2023, respectively. During the years ended December 31, 2021, 2022 and 2023, Weibo allocated US$0.8 million, US$0.6 million and US$9.9 million to SINA for costs and expenses related to certain of SINA’s activities for which Weibo made the payments, respectively.

Schedule of related party outstanding balance

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​	​	​	​	​	​	​
​	​	As of December 31,
​		2022			2023
​	​	​	(In US$ thousands)
Amount due from SINA(2)	​	$	487,117		$	486,397
Payable to SINA for the acquisition of the equity of STC (Note 6)	​	$	218,402	​	$	—
Accounts receivable due from Alibaba		$	75,347		$	61,094
​	​	​	​	​	​	​
Loans to and interest receivable from other related parties(3) (4)	​	​	​	​	​	​
-Company A (an investee providing online brokerage services)	​	$	110,000	​	$	100,000
Subtotal (included in prepaid expenses and other current assets)	​	​	110,000	​	​	100,000
-Company B (an investee in real estate business)	​	​	454,912	​	​	349,716
Subtotal (included in other non-current assets)	​	​	454,912	​	​	349,716
Total	​	$	564,912	​	$	449,716

(2) The Group uses amount due from/to SINA to settle balances arising from costs 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, 2022 and 2023, the amount due from SINA also included loans to and interest receivable from SINA of US$420.4 million and US$445.2 million at an annual interest rate ranging from 1% to 4% of maturity within one year, respectively, which are non-trade in nature.

(3) The annual interest rates of the loans were ranging from 4.0% to 6.7% at both dates. These balances are non-trade in nature. The contractual terms of the loans were up to 5 years while subject to extension and the Group will determine the liquidity (current versus non-current) of the loans pursuant to the expected cash collection. In 2023, several loans were extended and the Group accounted for such extension as loan modification.

(4) The Group estimates the allowance for credit losses on loans and interest receivables not sharing similar risk characteristic on an individual basis. The key factors considered when determining the above allowances for credit losses include the fair value of the assets held by the borrowers. For the years ended December 31, 2021, 2022 and 2023, the Group recognized nil, US$7.6 million credit losses and a reversal of US$2.1 million credit losses on loans to and interest receivable from other related parties based on the expected collection schedule of these loans, respectively.

Related Parties [Member] | SINA

Related Party Transactions

Schedule of significant related party transactions with the group

​

​	​	​	​	​	​	​	​	​	​
​		Year Ended December 31,
​		2021			2022			2023
​	​	(In US$ thousands)
Transactions with SINA	​	​	​	​	​	​	​	​	​
Advertising and marketing revenues	​	$	96,359	​	$	56,206	​	$	45,319
Value-added services revenues	​	​	15,162	​	​	20,740	​	​	21,491
Total	​	$	111,521	​	$	76,946	​	$	66,810

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- Definition

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+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

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