Weibo (WB) 20-F 10 Mar 22 2021 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Document Information [Line Items]
Entity Registrant Name	WEIBO CORPORATION
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-36397
Entity Central Index Key	0001595761
Document Type	20-F
Entity Incorporation, State or Country Code	KY
Entity Address, Address Line One	8/F, QIHAO Plaza
Entity Address, Address Line Two	No. 8 Xinyuan S. Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100027
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Accounting Standard	U.S. GAAP
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
ICFR Auditor Attestation Flag	true
Auditor Name	PricewaterhouseCoopers Zhong Tian LLP
Auditor Firm ID	1424
Auditor Location	Beijing, the People’s Republic of China
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	8/F, QIHAO Plaza
Entity Address, Address Line Two	No. 8 Xinyuan S. Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100027
Country Region	+86
City Area Code	10
Local Phone Number	5898-3095
Contact Personnel Fax Number	+86 10 8260-8888
Contact Personnel Name	Fei Cao
ADS
Document Information [Line Items]
Title of 12(b) Security	American depositary shares, each representing one Class A ordinary share
Entity Listing, Depository Receipt Ratio	1
Trading Symbol	WB
Security Exchange Name	NASDAQ
Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	236,553,460
Class A ordinary shares
Document Information [Line Items]
Title of 12(b) Security	Class A ordinary shares, par value US$0.00025 per share
Entity Listing, Par Value Per Share | $ / shares	$ 0.00025
No Trading Symbol Flag	true
Entity Common Stock, Shares Outstanding	140,274,502
Class B ordinary shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	96,278,958

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 2,423,703	$ 1,814,844
Short-term investments	711,062	1,682,048
Accounts receivable due from third parties, net of allowances of $29,061 and $42,650 as of December 31, 2020 and 2021, respectively	577,982	314,159
Prepaid expenses and other current assets (including loans to and interest receivable from other related parties of $158,622 and $700,465 as of December 31, 2020 and 2021, respectively)	450,726	296,757
Amount due from SINA (Note 10)	494,200	548,900
Total current assets	4,802,780	4,834,559
Property and equipment, net	68,396	60,632
Operating lease assets	60,519	7,176
Intangible assets, net	166,930	146,976
Goodwill	130,405	61,712
Long-term investments	1,207,651	1,179,466
Other non-current assets	1,082,841	44,596
Total assets	7,519,522	6,335,117
Current liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiary of $538,269 and $[]$710,915 as of December 31, 2020 and 2021, respectively.)
Accounts payable	197,643	149,509
Accrued and other liabilities	821,033	556,753
Operating lease liability, short-term	7,919	5,580
Income taxes payable	144,747	102,844
Convertible debt	896,541
Deferred revenues	91,136	143,684
Total current liabilities	2,159,019	958,370
Long-term liabilities
Convertible debt		892,399
Unsecured senior notes	1,538,415	1,536,112
Deferred tax liability	66,903	58,299
Operating lease liability, long-term	52,042	1,505
Other non-current liabilities	15,123	2,102
Total long-term liabilities	1,672,483	2,490,417
Total liabilities	3,831,502	3,448,787
Commitments and contingencies
Redeemable non-controlling interests	66,622	57,714
Shareholders' equity:
Ordinary shares: $0.00025 par value; 2,400,000 and 2,400,000 shares (including 1,800,000 Class A ordinary shares, 200,000 Class B ordinary shares and 400,000 shares to be designated) authorized; 227,688 shares (including 125,909 Class A ordinary shares and 101,779 Class B ordinary shares) and [] shares (including [] Class A ordinary shares and [] Class B ordinary shares) issued and outstanding as of December 31, 2020 and 2021, respectively.	59	57
Additional paid-in capital	1,477,291	1,201,622
Accumulated other comprehensive income	156,932	79,526
Retained earnings	1,959,539	1,531,220
Total Weibo shareholders' equity	3,593,821	2,812,425
Non-controlling interests	27,577	16,191
Total shareholders' equity	3,621,398	2,828,616
Total liabilities, redeemable non-controlling interests and shareholders' equity	7,519,522	6,335,117
Alibaba
Current assets:
Accounts receivable due from related parties	89,344	135,321
Other related parties
Current assets:
Accounts receivable due from related parties	$ 55,763	$ 42,530

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands	Dec. 31, 2021	Dec. 31, 2020
Net of allowances	$ 42,650,000	$ 35,156,000
Loans to and interest receivable	219,679,000	158,622,000
Loans to and interest receivable	480,786,000	0
Current liabilities	$ 2,159,019,000	$ 958,370,000
Ordinary shares, par value (in dollars per share)	$ 0.00025	$ 0.00025
Ordinary shares, shares authorized	2,400,000	2,400,000
Ordinary shares, shares issued	236,553	227,688
Ordinary shares, shares outstanding	236,553	227,688
Class A ordinary shares
Ordinary shares, shares authorized	1,800,000	1,800,000
Ordinary shares, shares issued	140,274	125,909
Class B ordinary shares
Ordinary shares, shares authorized	200,000	200,000
Ordinary shares, shares issued	96,279	101,779
Ordinary shares to be designated
Ordinary shares, shares authorized	400,000	400,000
Consolidated VIEs | Without recourse
Current liabilities	$ 710,915,000	$ 538,269,000
Alibaba
Net of allowances	0	0
Other related parties
Net of allowances	0	6,095,000
Loans to and interest receivable	5,307,000	15,884,000
Third parties
Net of allowances	$ 42,650,000	$ 29,061,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Revenues	$ 2,257,083	$ 1,689,931	$ 1,766,914
Costs and Expenses
Cost of revenues	403,841	302,180	328,826
Sales and marketing	591,682	455,619	465,339
Product development	430,673	324,110	284,444
General and administrative	133,475	101,224	90,721
Total costs and expenses	1,559,671	1,183,133	1,169,330
Income from operations	697,412	506,798	597,584
Income (loss) from equity method investments	14,217	10,434	(13,198)
Realized gain from investments	3,243	2,153	612
Fair value changes through earnings on investments, net	(72,787)	35,115	207,438
Investment-related impairment	(106,800)	(211,985)	(249,935)
Interest income	77,280	85,829	85,386
Interest expense	(71,006)	(57,428)	(29,896)
Other income, net	9,159	4,997	4,406
Income before income tax expenses	550,718	375,913	602,397
Less: income tax expenses	138,841	61,316	109,564
Net income	411,877	314,597	492,833
Less: Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests	(16,442)	1,233	(1,842)
Net income attributable to Weibo's shareholders	428,319	313,364	494,675
Other comprehensive income
Currency translation adjustments (for which there were no taxes)	78,196	148,547	(19,029)
Total comprehensive income	490,073	463,144	473,804
Less: comprehensive income (loss) attributable to non-controlling interests and redeemable non-controlling interests	(15,652)	1,695	(1,927)
Comprehensive income attributable to Weibo's shareholders	$ 505,725	$ 461,449	$ 475,731
Shares used in computing net income per share attributable to Weibo's shareholders:
Basic (in shares)	228,814	226,921	225,452
Diluted (in shares)	230,206	227,637	226,412
Income per share:
Basic (in dollars per share)	$ 1.87	$ 1.38	$ 2.19
Diluted (in dollars per share)	$ 1.86	$ 1.38	$ 2.18
Advertising & Marketing
Revenues:
Revenues	$ 1,980,795	$ 1,486,155	$ 1,530,211
Value-added services
Revenues:
Revenues	276,288	203,776	236,703
Alibaba | Advertising & Marketing
Revenues:
Revenues	181,241	188,597	97,772
SINA | Advertising & Marketing
Revenues:
Revenues	96,359	48,353	112,974
Other related parties | Advertising & Marketing
Revenues:
Revenues	69,953	46,493	117,028
Third parties | Advertising & Marketing
Revenues:
Revenues	$ 1,633,242	$ 1,202,712	$ 1,202,437

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Currency translation adjustments, tax	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Ordinary Shares	Additional Paid-In Capital	Accumulated Other Comprehensive Income	Retained Earnings	Non-controlling Interests	Total
Balance at Dec. 31, 2018	$ 57	$ 1,071,836	$ (49,615)	$ 723,181	$ 2,679	$ 1,748,138
Balance (in shares) at Dec. 31, 2018	224,838
Increase (Decrease) in Shareholders' Equity
Issuance of ordinary shares pursuant to stock plan		319				319
Issuance of ordinary shares pursuant to stock plan (in shares)	1,472
Non-cash stock-based compensation		61,289				61,289
Net income (loss)				494,675	(1,842)	492,833
Currency translation adjustments			(18,944)		(85)	(19,029)
Purchase of subsidiary's shares from non-controlling shareholders		469			(2,200)	(1,731)
Balance at Dec. 31, 2019	$ 57	1,133,913	(68,559)	1,217,856	(1,448)	2,281,819
Balance (in shares) at Dec. 31, 2019	226,310
Increase (Decrease) in Shareholders' Equity
Issuance of ordinary shares pursuant to stock plan		57				57
Issuance of ordinary shares pursuant to stock plan (in shares)	1,378
Non-cash stock-based compensation		67,105				67,105
Conversion of convertible debt		8				8
Net income (loss)				313,364	1,233	314,597
Sale of a subsidiary's shares to non-controlling shareholders		539			978	1,517
Acquisition of subsidiaries with non-controlling interests					16,133	16,133
Net income attributable to redeemable non-controlling interests					(1,167)	(1,167)
Currency translation adjustments			148,085		462	148,547
Balance at Dec. 31, 2020	$ 57	1,201,622	79,526	1,531,220	16,191	$ 2,828,616
Balance (in shares) at Dec. 31, 2020	227,688					227,688
Increase (Decrease) in Shareholders' Equity
Issuance of ordinary shares pursuant to stock plan	$ 1	1,312				$ 1,313
Issuance of ordinary shares pursuant to stock plan (in shares)	1,715
Non-cash stock-based compensation		95,896				95,896
Issuance of shares - global offering, net of issuance costs	$ 1	178,739				178,740
Issuance of shares - global offering, net of issuance costs (in shares)	5,500
Shares lent to underwriters for settlement of over-allocations	1,650
Net income (loss)				428,319	(16,442)	411,877
Compensation cost to non-controlling interest shareholders					3,215	3,215
Disposal of a subsidiary with non-controlling interests		(278)			12	(266)
Acquisition of subsidiaries with non-controlling interests					10,811	10,811
Net income attributable to redeemable non-controlling interests					13,000	13,000
Currency translation adjustments			77,406		790	78,196
Balance at Dec. 31, 2021	$ 59	$ 1,477,291	$ 156,932	$ 1,959,539	$ 27,577	$ 3,621,398
Balance (in shares) at Dec. 31, 2021	236,553					236,553

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 411,877	$ 314,597	$ 492,833
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	55,008	32,107	25,772
Stock-based compensation	87,996	67,105	61,289
Amortization of operating lease assets	6,224	3,974	3,793
Non-cash compensation cost to non-controlling interest shareholders	23,246
Provision of allowance for credit losses	19,702	53,124	38,561
Deferred tax expenses (benefits)	(12,478)	(15,727)	16,839
(Income) Loss from equity method investments	(14,217)	(10,434)	13,198
Dividend received from equity method investments	11,695	320	932
Gain on sale of investments	(3,243)	(2,153)	(612)
Fair value changes through earnings on investments, net	72,787	(35,115)	(207,438)
Investment-related impairment	106,800	211,985	249,935
Gain on disposal of property and equipment	(172)	(74)	(120)
Amortization of convertible debt and unsecured senior notes issuance cost	6,445	5,944	4,803
Changes in assets and liabilities:
Accounts receivable due from third parties	(273,728)	(75,685)	(115,086)
Prepaid expenses and other current assets	2,589	(30,461)	(20,128)
Other non-current assets	(14,512)	(191)	(101)
Accounts payable	41,809	15,167	5,161
Accrued and other liabilities	274,803	62,404	117,606
Deferred revenues	(56,181)	19,928	11,254
Operating lease liabilities	(6,684)	(4,315)	(3,502)
Income taxes payable	38,910	(6,210)	11,463
Net cash provided by operating activities	814,020	741,646	631,653
Cash flows from investing activities:
Purchases of bank time deposits and wealth management products	(1,170,070)	(3,170,291)	(1,230,596)
Maturities of bank time deposits and wealth management products	2,040,599	2,600,010	869,792
Investment in and prepayment on long-term investments	(1,593,880)	(392,547)	(688,920)
Proceeds from disposal of/refund of prepayment on long-term investments	447,381	289,631	60,307
Proceeds from disposal of property and equipment	383	92	122
Purchases of property and equipment	(35,094)	(34,828)	(21,746)
Prepayment for purchase of SINA Plaza	(132,531)
Payment for acquisitions, net of cash acquired	(61,160)	(214,302)
Net cash used in investing activities	(423,960)	(1,214,315)	(1,201,358)
Cash flows from financing activities:
Proceeds from employee options exercised	1,313	122	275
Proceeds from unsecured senior notes, net of issuance costs		740,324	793,325
Proceeds from global offering, net of issuance costs	188,129
Payments to non-controlling shareholders			(1,731)
Proceeds from sale of a subsidiary's equity interest to a non-controlling shareholder		1,517
Net cash provided by financing activities	189,442	741,963	791,869
Effect of exchange rate changes on cash and cash equivalents	29,357	92,565	(3,775)
Net increase in cash and cash equivalents	608,859	361,859	218,389
Cash and cash equivalents at the beginning of the period	1,814,844	1,452,985	1,234,596
Cash and cash equivalents at the end of the period	2,423,703	1,814,844	1,452,985
Supplemental disclosure of cash flow information
Cash paid for income taxes	(111,260)	(82,667)	(80,666)
Cash paid for interest expenses on convertible debt/unsecured senior notes	(37,906)	(65,906)	(11,250)
Supplemental schedule of non-cash investing and financing activities
Property and equipment in accounts payable	5,520	3,985	4,693
Unpaid consideration for acquisition	6,293	10,280
Consideration settled for acquisition			(10,000)
SINA
Changes in assets and liabilities:
Amount due from SINA	(7,787)	148,943	(90,129)
Cash flows from investing activities:
Loan to SINA	(978,162)	(473,777)	(233,884)
Repayment of loan by SINA	1,058,574	181,697	43,567
Alibaba
Changes in assets and liabilities:
Accounts receivable due from Alibaba	49,003	(68,286)	(13,032)
Other related parties
Changes in assets and liabilities:
Accounts receivable due from other related parties	$ (5,872)	$ 54,699	$ 28,362

Operations

Operations	12 Months Ended
	Dec. 31, 2021
Operations
Operations	1. Operations Weibo Corporation (“Weibo” or the “Company”) leading social media platform in China for people to create, discover and distribute content. By providing a simple and inspirational way for people and organizations in China and the global Chinese communities to publicly express themselves in real time, interact with others on a platform with vast scale and stay connected with the world, Weibo has had a profound social impact in China. Launched in 2009, Weibo has been committed to enabling faster, easier, and richer connection among people and has become an integral part of many of Weibo users’ daily lives. Incorporated in the Cayman Islands, Weibo Corporation is a controlled subsidiary of Sina Corporation (the “Parent” or “SINA”). In April 2014, the Company completed an initial public offering (the “IPO”) and received US$306.5 million in net proceeds. Immediately prior to the completion of the IPO, all the ordinary shares held by SINA was converted into an equal number of the Class B ordinary shares, all the ordinary shares held by other shareholders was converted into an equal number of the Class A ordinary shares, and all of its outstanding preferred shares was automatically converted into Class A ordinary shares. Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to three votes per share. Each Class B ordinary share can be converted into one Class A ordinary share at any time, while Class A ordinary shares cannot be converted into Class B ordinary shares. In December 2021, the Company successfully listed its Class A ordinary shares on the main board of the Hong Kong Stock Exchange. Net proceeds from the offering, after deducting estimated underwriting fees and other offering expenses, were US$178.4 million. Weibo Corporation is an exempted company with limited liability under the laws of the Cayman Islands. WB Online and Weibo HK are wholly owned subsidiaries of the Company, and Weibo Technology, a wholly foreign-owned enterprise, (“the WFOE”), is a subsidiary of Weibo HK. The operation of Weibo business is carried out by various subsidiaries and variable interest entities (“VIE”) of the Company. The Company’s VIEs and VIEs’ subsidiaries are controlled by the WFOE through a series of contractual agreements. Weibo Corporation, its subsidiaries, VIEs and VIEs’ subsidiaries together are referred to as “the Group”. 1. Operations (Continued) The following sets forth the Company’s major subsidiaries, major VIEs and major VIEs’ 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 % ​ ​ ​ ​ ​ ​ ​ ​ Hangzhou Weishichangmeng Advertising Co., Ltd. (“Weishichangmeng”) ​ September 25,2018 ​ PRC ​ 100 % Major VIEs ​ ​ ​ ​ ​ ​ ​ Beijing Weimeng Technology Co., Ltd (“Weimeng”) August 9, 2010 PRC 99 % ​ ​ ​ ​ ​ ​ ​ ​ Beijing Weimeng Chuangke Investment Management Co., Ltd. (“Weimeng Chuangke”) ​ April 9, 2014 ​ PRC ​ 100 % ​ ​ ​ ​ ​ ​ ​ ​ Major VIEs’ subsidiary ​ ​ ​ ​ ​ ​ ​ Beijing Weibo Interactive Internet Technology Co., Ltd. (“Weibo Interactive”) ​ Acquired in May 2013 ​ PRC ​ 100 % ​ 1. Operations (Continued) Intellectual Property License Agreement The intellectual property license agreement was entered into by and between SINA and the Company in April 2013. Under this agreement, SINA granted the Company and its subsidiaries a perpetual, worldwide, royalty-free, fully paid-up, non-sub licensable, non-transferable, limited, exclusive license of certain trademarks and a non-exclusive license of certain other intellectual property owned by SINA to make, sell, offer to sell and distribute products, services and applications on a microblogging and social networking platform. The Company granted SINA and its affiliates a non-exclusive, perpetual, worldwide, non-sub licensable, non-transferable limited license of certain of the Company’s intellectual property to use, reproduce, modify, prepare derivative works of, perform, display or otherwise exploit such intellectual property. This agreement commenced on April 29, 2013 and will continue to be in effect unless and until terminated as provided in the agreement. Transactions between SINA and Weibo Accounts receivable directly related to Weibo but for which SINA will receive payments and remit payments to the Group, as well as accounts receivable directly from SINA, are included in the amount due from SINA. Liabilities directly related to Weibo but for which SINA will make payments and receive reimbursements from the Group, as well as liabilities directly to SINA, are included in the amount due to SINA. The amount due from/to SINA is presented as an offsetting balance on the Group’s consolidated balance sheets. Loans from SINA are presented under cash flow from financing activities, whereas loans to SINA are presented under investing activities in the consolidated statements of cash flows. Cash payment for billings from SINA for costs and expenses allocated to the Group is presented under operating activities in the consolidated statements of cash flows. The Group’s consolidated statements of comprehensive income contain all the related costs and expenses of the Weibo business, including allocation to the cost of revenues, sales and marketing expenses, product development expenses, and general and administrative expenses, which are incurred by SINA but related to the Weibo business. These allocations were based on proportional cost allocation by considering proportion of the revenues, infrastructure usage metrics and labor usage metrics, among other things, attributable to the Group and are made on a basis considered reasonable by mutual managements. Total cost and expenses allocated from SINA were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Cost of revenues ​ ​ 22,246 ​ ​ 19,462 ​ ​ 14,749 Sales and marketing ​ ​ 9,770 ​ ​ 5,966 ​ ​ 3,319 Product development ​ 13,141 ​ 10,505 ​ ​ 10,083 General and administrative ​ 6,691 ​ 7,078 ​ 10,119 ​ ​ ​ 51,848 ​ ​ 43,011 ​ ​ 38,270 ​ While the costs and expenses allocated to the Group for these items are not necessarily indicative of the costs and expenses that would have been incurred if the Group had transactions with independent third party suppliers directly or hired more employees, the Company does not believe that there is any significant difference between the nature and amounts of these allocated costs and expenses and the ones that would have been incurred if the Group had transactions with independent third party suppliers directly or hired more employees. Consolidation The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, VIEs, controlled by the WFOE through a series of contractual agreements, and VIEs’ subsidiaries. All significant intercompany balances and transactions have been eliminated. 1. Operations (Continued) Consolidation (Continued) To comply with PRC laws and regulations, the Group provides a substantial amount of its services in China via the VIEs, which hold critical operating licenses that enable the Group to do business in China. Most of the Group’s revenues, costs and expense, and net income in China were generated directly or indirectly through the VIEs. The Company relies on contractual arrangements among its PRC subsidiaries, the VIEs and their shareholders to control the business operations of the VIEs and the Group has determined that it is the primary beneficiary of the VIEs through its PRC subsidiaries’ contractual arrangements with the VIEs. Accordingly, the Company has consolidated the VIEs’ and VIEs’ subsidiaries’ results of operations and assets and liabilities in the Group’s financial statements pursuant to the United States Generally Accepted Accounting Principles (“US GAAP”) for all the periods presented. Shareholders of the VIEs are certain nominee shareholders from the Company or SINA. The capital for their investments in the VIEs is funded by the Company and recorded as interest-free loans to these individuals. These loans were eliminated with the capital of the VIEs during consolidation. Each shareholder of the VIEs has agreed to transfer their equity interest in the VIEs to Weibo Technology when permitted by PRC laws and regulations or to designees of the Company at any time for the amount of loans outstanding. All voting rights of the VIEs, including without limitation the right to appoint all directors of the VIEs, has been assigned to Weibo Technology. Weibo Technology has also entered into exclusive technical service agreements with the VIEs under which Weibo Technology provides technical and other services to the VIEs in exchange for substantially all net income of the VIEs. In addition, the shareholders of the VIEs have pledged their shares in the VIEs as collateral for the non-payment of loans or for the technical and other services fees due to Weibo Technology. As of December 31, 2020 and 2021, the total amounts of interest-free loans to the VIEs’ shareholders were US$89.5 million and US$92.0 million, respectively. The VIEs and VIEs’ subsidiaries had accumulated deficit of US$96.1 million and US$132.5 million as of December 31, 2020 and 2021,respectively, which were included in the Group’s consolidated financial statements. 1. Operations (Continued) Consolidation (Continued) ​ The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs and VIEs’ subsidiaries taken as a whole, which are included in the Group’s consolidated balance sheets and consolidated statements of comprehensive income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 2021 ​ ​ (In US$ thousands) Cash and cash equivalents ​ ​ 274,003 ​ ​ 183,543 Short-term investments ​ ​ 171,207 ​ ​ 110,472 Accounts receivable ​ 431,022 ​ 650,278 Prepaid expenses and other current assets ​ ​ 55,653 ​ ​ 160,722 Amount due from SINA ​ ​ 31,142 ​ ​ 36,211 Property and equipment, net ​ 692 ​ 1,812 Operating lease assets ​ ​ 1,783 ​ ​ 28,049 Intangible assets, net ​ 146,976 ​ 166,930 Goodwill ​ 61,712 ​ 130,405 Long-term investments ​ ​ 394,745 ​ ​ 439,922 Other non-current assets ​ ​ 15,615 ​ ​ 352,008 Total assets ​ ​ 1,584,550 ​ ​ 2,260,352 ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ ​ 83,336 ​ ​ 129,498 Accrued and other liabilities ​ ​ 341,552 ​ ​ 480,866 Income taxes payable ​ ​ 26,417 ​ ​ 41,882 Deferred revenues ​ 85,846 ​ 57,348 Amount due to the subsidiaries of the Group ​ ​ 968,138 ​ ​ 1,462,242 Operating lease liability ​ ​ 1,704 ​ ​ 28,022 Deferred tax liability ​ ​ 32,418 ​ ​ 39,637 Other non-current liabilities ​ ​ 2,102 ​ ​ 15,122 Total liabilities ​ ​ 1,541,513 ​ ​ 2,254,617 ​ 1. Operations (Continued) Consolidation (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 ​ 2020 2021 ​ ​ (In US$ thousands) Net revenues ​ ​ 1,472,867 ​ ​ 1,319,080 ​ ​ 1,821,294 Net income (loss) after intercompany service fee charge ​ ​ 9,874 ​ ​ (129,126) ​ ​ (36,406) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Net cash provided by (used in) operating activities * ​ ​ (100,987) ​ ​ 157,262 ​ ​ 481,541 Net cash used in investing activities ​ ​ (280,404) ​ ​ (272,958) ​ ​ (583,397) Net cash provided by financing activities ​ ​ 441,952 ​ ​ 290,234 ​ ​ 11,396 * Net cash provided by operating activities of VIEs and VIEs’ subsidiaries for the year ended December 31, 2020 has been revised to reduce the amount by US $171.2 million to correct an error in previously issued financial statements included in 2020 Form 20-F. Under the contractual arrangements with the VIEs, the Company has the power to direct activities of the VIEs through Weibo Technology and can have assets transferred freely out of the VIEs without restrictions. Therefore, the Company considers that there is no asset of the VIEs that can only be used to settle obligations of the VIEs and VIEs’ subsidiaries, except for the registered capital and non-distributable reserve funds of the VIEs and VIEs’ subsidiaries, amounting to US$196.6 million and US$241.4 million as of December 31, 2020 and 2021, respectively. Since the VIEs are incorporated as limited liability companies under the PRC Company Law, creditors of the VIEs do not have recourse to the general credit of the Company. There is currently no contractual arrangement that would require the Company to provide additional financial support to the VIEs. As the Company is conducting certain businesses mainly through the VIEs, the Company may provide such support on a discretionary basis in the future, which could expose the Company to a loss. The total amount of costs and expenses allocated from SINA to the VIEs was US$27.6 million, US$8.7 million and US$3.4 million for 2019, 2020 and 2021, respectively. The VIEs hold assets with no carrying value in the consolidated balance sheet that are important to the Company’s ability to produce revenue (referred to as unrecognized revenue-producing assets). Unrecognized revenue-producing assets held by the VIEs include the Internet Content Provision License, the Online Culture Operating Permit, the domain names of Weibo.com, Weibo.cn and Weibo.com.cn and so on. Recognized revenue-producing assets held by the VIEs include game technology, live streaming platform technology, supplier-relationship contracts, and trademark and domain names, which were acquired through the previous acquisitions. Unrecognized revenue-producing assets, including customer lists relating to advertising and marketing services, VIP membership, and game-related services, as well as trademarks, are also held by Weibo Technology. The following is a summary of the VIE agreements with Weimeng. The VIE agreements with Weimeng Chuangke are substantially the same as those described below: Loan Agreements. Share Transfer Agreements. 1. Operations (Continued) Consolidation (Continued) Loan Repayment Agreements. Agreement on Authorization to Exercise Shareholder’s Voting Power. Share Pledge Agreements. Exclusive Technical Services Agreement, Exclusive Sales Agency Agreement and Trademark License Agreement. Spousal Consent Letters. These VIE agreements provide Weibo Technology with the power to direct the activities that most significantly affect the economic performance of the Group’s consolidated VIEs and enable the Group to receive substantially all of the economic benefits generated by them. For the years ended December 31, 2019, 2020 and 2021, the total amount of service fees that Weibo Technology charged to Weimeng under these service agreements and trademark license agreement was US$832.4 million, US$766.8 million and US$1,026.2 million, respectively, which were based on the actual cost incurred from providing the services and the operations of Weimeng. 1. Operations (Continued) Consolidation (Continued) Weibo Technology, Weimeng Chuangke and Weimeng Chuangke’s shareholders have entered into contractual arrangements which contain agreements and terms substantially similar to Weibo Technology’s contractual arrangements with Weimeng and Weimeng’s shareholders described above. Minority Investment in Weimeng In April 2020, WangTouTongDa (Beijing) Technology Co., Ltd., an entity affiliated with ZhongWangTou (Beijing) Technology Co., Ltd., made an investment of approximately RMB10.7 million in Weimeng for 1% of Weimeng’s enlarged registered capital. Such third party minority stake holder is entitled to customary economic rights in proportion to its equity ownership, and certain minority shareholder rights such as the right to appoint a director to Weimeng’s three-member board of directors, and veto rights over certain matters related to content decision, and certain future financings of Weimeng. The third party minority stake holder is not a party to the contractual arrangements mentioned above that are currently in effect among Weimeng, Weibo Technology and Weimeng’s other shareholders. As such, despite the fact that the Company is still able to enjoy economic benefits and exercise effective control over Weimeng and its subsidiaries, the Company is not able to purchase or have the third party minority stake holder pledge its 1% equity interests in Weimeng in the same manner as agreed under existing contractual arrangements, nor is it granted the authorization of voting rights over these 1% equity interests. The Company believes Weibo Technology, the wholly-owned PRC subsidiary, still controls and is the primary beneficiary of Weimeng as it continues to have a controlling financial interest in Weimeng pursuant to ASC 810-10-25-38A after the issuance of such 1% equity interests. The Company believes that the contractual arrangements among the WFOE, VIEs and VIEs’ shareholders are in compliance with the current PRC laws and legally enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company’s ability to enforce these contractual arrangements. As a result, the Company may be unable to consolidate the VIEs and VIEs’ subsidiaries in the consolidated financial statements. The Company’s ability to control the VIEs also depends on the authorization by the shareholders of the VIEs to exercise voting rights on all matters requiring shareholder approval in the VIEs. The Company believes that the agreements on authorization to exercise shareholder’s voting power are legally enforceable. In addition, if the legal structure and contractual arrangements with the VIEs were found to be in violation of any future PRC laws and regulations, the Company may be subject to fines or other actions. The Company believes the possibility that it will no longer be able to control and consolidate the VIEs as a result of the aforementioned risks and uncertainties is remote.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies Basis of presentation The preparation of the Group’s consolidated financial statements is in conformity with U.S. GAAP. The consolidated financial statements include the accounts of Weibo, its wholly owned subsidiaries, VIEs, and VIEs’ subsidiaries. All significant intercompany balances and transactions have been eliminated. Use of estimates Conformity with U.S. GAAP requires the use of estimates and judgments that affect the reported amounts in the consolidated financial statements and accompanying notes. These estimates form the basis for judgments the management makes about the carrying values of the assets and liabilities, which are not readily apparent from other sources. U.S. GAAP requires making estimates and judgments in several areas, including, but not limited to, the basis of consolidation, revenue recognition, fair value accounting, income taxes, long-term investments, goodwill and other long-lived assets, allowances for credit losses, stock-based compensation, the estimated useful lives of assets, convertible debt, business combination, and foreign currency. The management bases the estimates and judgments on historical information and on various other assumptions that management believes are reasonable under the circumstances. Actual results could differ materially from such estimates. ​ 2. Significant Accounting Policies (Continued) ​ Revenue recognition Under ASC 606, revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those goods or services. The Group identifies its contracts with customers and all performance obligations within those contracts. The Group then determines the transaction price and allocates the transaction price to the performance obligations within the Group’s contracts with customers, recognizing revenue when, or as, the Group satisfies its performance obligations. The Group does not believe that significant management judgments are involved in revenue recognition, but the amount and timing of the Group’s revenues could be different for any period if management made different judgments. Certain customers may receive sales rebates, which are accounted for as variable consideration. The Group estimates annual expected revenue volume of each individual agent with reference to their historical results. The Group recognizes revenue for the amount of fees it receives from its advertisers, after deducting estimated sales rebates and net of value-added tax (“VAT”) under ASC 606. The Group believes that there will not be significant changes to its estimates of variable consideration. Revenue disaggregated by revenue source for the years ended December 31, 2019, 2020 and 2021 consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Advertising and marketing revenues ​ 1,530,211 ​ 1,486,155 ​ 1,980,795 Value-added services revenues ​ ​ 236,703 ​ ​ 203,776 ​ ​ 276,288 Total revenues ​ 1,766,914 ​ 1,689,931 ​ 2,257,083 ​ The Group enters into contracts with its customers, which may give rise to contract assets (unbilled revenue) or contract liabilities (deferred revenue). The payment terms and conditions within the Group’s contracts vary by the type and location of its customers and products or services purchased, the substantial majority of which are due in less than one year. Deferred revenues related to unsatisfied performance obligations at the end of the period are mainly from the customer advance of the advertising and marketing services and the sales of the fee-based services, such as VIP membership, live streaming, and virtual currency or in-game virtual items sold for game related services. The deferred revenues are recognized based on customers’ consumption or amortized on a straight-line basis through the service period for different products/services. Due to the generally short-term duration of the contracts, the majority of the performance obligations are satisfied in the following reporting period. The amount of revenue recognized that was included in the deferred revenue balance at the beginning of the period was US$88.3 million, US$91.5 million and US$126.5 million for the years ended December 31, 2019, 2020 and 2021, respectively. ​ 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. 2. Significant Accounting Policies (Continued) Revenue recognition (Continued) Advertising and marketing revenues Advertising and marketing revenues are derived principally from online advertising, including social display ads and promoted marketing. Social display ad arrangements allow customers to place advertisements on particular areas of the Group’s platform or website in particular formats and over particular periods of time, which is typically no more than three months. The Group enters into cost per mille (“CPM”), or cost per thousand impressions, advertising arrangements with the customers, under which the Group recognizes revenues based on the number of times that the advertisement has been displayed. The Group also enters into cost per day (“CPD”) advertising arrangements with customers, under which the Group recognizes revenues ratably over the contract periods. Promoted marketing arrangements are primarily priced based on CPM. Under the CPM model, customers are obligated to pay when the advertisement is displayed. The Group’s majority revenue transactions are based on standard business terms and conditions, which are recognized net of agency rebates. The agency rebates are accounted for as variable consideration and are estimated during interim periods based on estimated annual revenue volume of each individual agent with reference to their historical results, which involves accounting judgment. The Group believes its estimation approach in variable consideration results in revenue recognition in a manner consistent with the underlying economics of the transaction. The Group’s contracts with customers may include multiple performance obligations, which primarily consist of combinations of service to allow customers to place advertisements on different areas of its platform or website. For such arrangements, advertising arrangements involving multiple deliverables are broken down into single-element arrangements based on their stand-alone selling price for revenue recognition purposes. The estimation of stand-alone selling price involves significant judgment, especially for the deliverables that have not been sold separately. For those deliverables, the Group determines best estimate of the stand-alone selling price by taking into consideration of the pricing of advertising areas of the Group’s platform or website with similar popularities and advertisements with similar formats and quoted prices from competitors and other market conditions. The Group believes the estimation approach in stand-alone selling price and allocation of the transaction price on a relative stand-alone selling price to each performance obligation results in revenue recognition in a manner consistent with the underlying economics of the transaction and the allocation principle included in ASC 606. Revenues recognized with reference to best estimation of selling price were immaterial for all periods presented. Most of such contracts have all performance obligations completed within one year. Changes in judgments on these assumptions and estimates could materially impact the timing or amount of revenue recognition. Contracts with customers of online advertising may require cooperation from third parties. The Group pays a predetermined portion of revenues earned from advertising contracts to the third parties such as key opinion leaders who participate in advertising and promotion activities by monetizing their social assets. The Group has determined that it is the principal in these transactions, as it has primary responsibility for fulfilling all the obligations related to advertising contracts. The Group has discretion in establishing pricing of the contracts and controls the advertising inventory before the delivery to customers. The Group records revenues derived from such contracts on a gross basis and the portion paid to the third parties is recognized as cost of revenues. Revenues from barter transactions are recognized during the period in which the advertisements are displayed on the Group’s properties. Barter transactions in which physical goods or services are received in exchange for advertising services are recorded based on the fair values of the goods or services received. Value-added services revenues The Group generates value-added services revenues principally from fee-based services, mainly including VIP membership, live streaming, and game-related services. Other value-added services revenues mainly include the revenues from the provision of traffic acquisition services to various customers. Revenues from these services are recognized when control of the promised services is transferred to customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those services. VIP membership. 2. Significant Accounting Policies (Continued) ​ Revenue recognition (Continued) ​ Live streaming. The Group designs, creates and offers various virtual items for sales to users with pre-determined selling prices. Each virtual item is considered as a distinctive performance obligation. Sales proceeds are recorded as deferred revenue and recognized as revenue based on the consumption of the virtual items. Users can purchase and present virtual items to broadcasters to show support for their favorite ones. Under the arrangements with broadcasters or broadcaster agencies, the Group shares with them a portion of the revenues derived from the consumption of virtual items. Revenues derived from the sale of virtual items are recorded on a gross basis as the Group has determined that it acts as the principal to fulfill all obligations related to the live streaming services. The portion paid to broadcasters and/or broadcaster agencies is recognized as cost of revenues. The Group does not have further obligations to the user after the virtual items are consumed. Game-related services. Cost of revenues Cost of revenues consists mainly of costs associated with the maintenance of platform, which primarily include bandwidth and other infrastructure costs, revenue-share cost, advertisement production cost, labor cost and turnover taxes levied on the revenues, part of which were allocated from SINA. The Group is subject to 3% cultural business construction fees for its advertising and marketing revenues, which is included in cost of revenues. Starting from July 1 2019, the 3% cultural business construction fees was reduced to 1.5%. Moreover, as part of the measures taken by the government to ease the negative impact from Covid-19 pandemic, the cultural business construction fees were exempted for the fiscal years of 2020 and 2021. An aggregate of US$24.6 million and US$28.7 million cultural business construction fees was exempted for the years ended December 31, 2020 and 2021,respectively. Sales and marketing expenses Sales and marketing expenses consist mainly of online and offline advertising and promotional expenses, salary, benefits and commission expenses, and facility expenses. Advertising and promotional expenses generally represent the expenses of promotions of corporate image and product marketing. The Group expenses all advertising and promotional expenses as incurred and classifies these expenses under sales and marketing expenses. Pursuant to the adoption of ASC 606, the recognition of revenues and expenses at fair value for advertising barter transactions has resulted in an increase of revenue and advertising expenses. For the years ended December 31, 2019, 2020 and 2021, the advertising and promotional expenses were US$352.3 million, US$330.9 million and US$418.0 million, respectively. 2. Significant Accounting Policies (Continued) Product development expenses Product development expenses consist mainly of payroll-related expenses and infrastructure costs incurred for enhancement to and maintenance of the Group’s platform, as well as costs associated with new product development and product enhancements, part of which were allocated from SINA. The Group expenses all costs incurred for the planning, post implementation phases of development and costs associated with repair or maintenance of the existing site or the development of platform content. Since inception, the amount of costs qualifying for capitalization has been immaterial and, as a result, all product development costs have been expensed as incurred. Stock-based compensation All stock-based awards to employees and directors, such as stock options and restricted share units (“RSUs”), are measured at the grant date based on the fair value of the awards. Stock-based compensation, net of forfeitures, is recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. The Group uses the Black-Scholes option pricing model to estimate the fair value of stock options. The determination of estimated fair value of stock-based payment awards on the grant date using an option pricing model is affected by the fair value of the Company’s ordinary shares as well as assumptions regarding a number of complex and subjective variables. These variables include the expected value volatility of the Company over the expected term of the awards, actual and projected employee stock option exercise behaviors, a risk-free interest rate and expected dividends, if any. Options granted generally vest over four years. The Group recognizes the estimated compensation cost of restricted share units based on the fair value of its ordinary shares on the date of the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term of generally four years for service-based restricted share units. The Group also recognizes the compensation cost of performance-based restricted share units, net of estimated forfeitures, if it is probable that the performance condition will be achieved at the end of each reporting period. Forfeitures are estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. The Group uses historical data to estimate pre-vesting option and records stock-based compensation expense only for those awards that are expected to vest. See Note 7 Stock-based Compensation Taxation Income taxes Uncertain tax positions. Short-term investments Short-term investments represent bank time deposits and wealth management products which are certain deposits with variable interest rates or principal not-guaranteed with certain financial institutions. Their original maturities are of greater than three months but less than one year. In accordance with ASC 825, Financial Instruments 2. Significant Accounting Policies (Continued) Credit losses In 2016, the FASB issued ASC Topic 326, which amends previously issued guidance regarding the impairment of financial instruments by creating an impairment model that is based on expected losses. The guidance is applicable to accounts receivable and the Group adopted ASC Topic 326 on January 1, 2020. Accounts receivable are recorded at the original amounts less an allowance for any potential uncollectible amounts. The Group makes estimates of expected credit and collectability trends for the allowance for credit losses based upon assessment of various factors, including historical experience, the age of the accounts receivable balances, credit-worthiness of the customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from the customers. The Group also provides specific provisions for allowance when facts and circumstances indicate that the receivable is unlikely to be collected. Expected credit losses for accounts receivable are recorded as general and administrative expenses on the consolidated statements of comprehensive income. The initial impact of applying ASC Topic 326 on the consolidated financial statements is immaterial to the Group’s retained earnings as of January 1, 2020. ASC Topic 326 is also applicable to the loans to and interest receivable from other related parties included in the prepaid expenses and other current assets and other non-current assests on the consolidated balance sheets. Management estimates the allowance for credit losses on loans and interest receivable not sharing similar risk and other non-current assets characteristic on an individual basis. The key factors considered when determining the above allowances for credit losses include estimated loan collection schedule, discount rate, financial condition and performance data of the borrowers and the cash flow forecasts considering current and future economic conditions. Fair value measurements Financial instruments All financial assets and liabilities are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The Group measures the equity method investments at fair value on a non-recurring basis only if an impairment charge were to be recognized. For those investments without readily determinable fair value, the Group measures them at fair value when observable price changes are identified or impairment charge was 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 fair values of the Group’s long-term investments in the equity securities of publicly listed companies are measured using quoted market prices. 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 are determined to be impaired. Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value: ● Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. ● Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. ● 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. 2. Significant Accounting Policies (Continued) ​ Fair value measurements (Continued) ​ 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. See Note 14 Fair Value Measurement Long-term investments Long-term investments are comprised of investments in publicly traded companies, privately held companies, and limited partnerships. The Group uses the equity method to account for ordinary-share-equivalent equity investments on which it has significant influence but does not own a majority equity interest or otherwise control. The Group measures investments in equity securities, other than equity method investments, at fair value through earnings. For those investments without readily determinable fair values, the Group elects to record these investments at cost, less impairment, plus or minus subsequent adjustments for observable price changes (referred to as the measurement alternative). Under this measurement alternative, changes in the carrying value of the investments will be recognized in consolidated statement of comprehensive income, whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. Pursuant to ASC 321, for equity investments measured at fair value with changes in fair value recorded in earnings, the Group does not assess whether those securities are impaired. For equity investments without readily determinable fair value for which the Group has elected to use the measurement alternative, the Group makes a qualitative assessment of whether the investment is impaired at each reporting date, applying significant judgement in considering various factors and events including a) adverse performance of investees; b) adverse industry developments affecting investees; and c) adverse regulatory, social, economic or other developments affecting investees. If a qualitative assessment indicates that the investment is impaired, the Group estimates the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Group recognizes an impairment loss in net income equal to the difference between the carrying value and fair value. Significant judgement is applied by the Group in estimating the fair value to determine if an impairment exists, and if so, to measure the impairment losses for these equity security investments. These judgements include the selection of valuation methods in estimating fair value and the determination of key valuation assumptions used, including cash flow forecasts and critical assumptions used in cash flow forecasts, such as the investees’ revenue growth rate, terminal growth rate, discount rate, selection of comparable companies and multiples, estimated volatility rate and discount for lack of marketability. Investments in entities which the Group can exercise significant influence and holds an investment in voting common shares or in-substance common shares (or both) of the investee but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC topic 323 (“ASC 323”), Investment — Equity Method and Joint Ventures. Under the equity method, the Group initially records its investments at cost and the difference between the cost of the equity investee and the fair value of the underlying equity in the net assets of the equity investee is recognized as equity method goodwill, which is included in the equity method investment on the consolidated balance sheets. The Group subsequently adjusts the carrying amount of the investments to recognize the Group’s proportionate share of each equity investee’s net income or loss into earnings after the date of investment. The Group evaluates the equity method investments for impairment under ASC 323. An impairment loss on the equity method investments is recognized in earnings when the decline in value is determined to be other-than-temporary. In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force). The amendments in this update clarify the interaction of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. The Group adopted the ASU on January 1, 2021, which did not have a material impact on the consolidated financial statements. 2. Significant Accounting Policies (Continued) Business combination Business combinations are recorded using the purchase method of accounting, and the cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date. The costs directly attributable to the acquisition are expensed as incurred. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of the (i) the total of consideration paid, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the subsidiary acquired over (ii) the fair value of the identifiable net assets of the subsidiary acquired is recorded as goodwill. If the consideration of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income. Leases On January 1, 2019, the Group adopted ASU No. 2016-02, “Leases (Topic 842)”, which requires a lessee to recognize a liability to make lease payments (the Lease Liability) and corresponding right-of-use assets (the Operating Lease Assets), arising from operating leases, on balance sheet, representing its right to use the underlying asset for the lease term. The Group adopted the new lease standard using the transition method by applying the standard to all leases existing at the date of initial application. The adoption of new leasing guidance resulted in recognition of US$14.4 million of operating lease assets and US$14.9 million of leasing liabilities as of January 1, 2019, respectively, and no impact to the beginning retained earnings of the year. The Group chose to not recognize lease assets and lease liabilities for leases with a term of twelve months or less, to not separate non-lease components from lease components, and to not reassess lease classification, treatment of initial direct costs or whether an existing or expired contract contains a lease according to the practical expedients permitted under the transition method. The Group determines if an arrangement is or contains a lease at inception. Right-of-use assets and liabilities are recognized at lease commencement date based on the present value of remaining lease payments over the lease terms. The Group considers only payments that are fixed and determinable at the time of lease commencement. Long-lived assets Property and equipment Property and equipment are stated at cost less accumulated depreciation, amortization and impairment, if any. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally from three 2. Significant Accounting Policies (Continued) Long-lived assets (Continued) Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of the Group’s acquisitions of interests in its subsidiaries, consolidated VIEs and VIEs’ subsidiaries. The Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20 (“ASC 350-20”), Intangibles - Goodwill and Other: Goodwill Intangible assets other than goodwill Intangible assets arising from acquisitions are recognized at fair value upon acquisition and amortized on a straight-line basis over their estimated useful lives, generally from three Convertible debt and unsecured senior notes The Group determines the appropriate accounting treatment of its convertible debt in accordance with the terms in relation to the conversion feature. After considering the impact of such features, the Group may account for such instrument as a liability in its entirety, or separate the instrument into debt and equity components following the respective guidance described under ASC 815 Derivatives and Hedging Debt The debt discount, if any, together with related issuance cost are subsequently amortized as interest expense over the contractual life. The Group presented the issuance costs of debt as a direct deduction from the related debt during the periods presented. The unsecured senior notes are recognized initially at fair value, net of debt discounts or premiums, if any, issuance costs and other incidental fees, all of which are recorded as a direct deduction of the proceeds received from issuing the unsecured senior notes and the related accretion is recorded as interest expense in the consolidated statement of comprehensive income over the estimated term using the effective interest method. Deferred revenues Deferred revenues consist of contractual billings in excess of recognized revenue and payments received in advance of revenue recognition, which are mainly from the customer advance of the advertising and marketing services and the sales of the fee-based services, such as VIP membership, live streaming, and virtual currency or in-game virtual items sold for game related services. 2. Significant Accounting Policies (Continued) Non-controlling interests For the Company’s majority-owned subsidiaries and VIE, non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. To reflect the economic interest held by non-controlling shareholders, net income/loss attributable to the non-controlling ordinary shareholders is recorded as non-controlling interests in the Company’s consolidated statements of comprehensive income. Non-controlling interests are classified as a separate line item in the equity section of the Company’s consolidated balance sheets and have been separately disclosed in the Company’s consolidated financial statements to distinguish the interests from that of the Company. Foreign currency The Company’s reporting currency and functional currency is the U.S. dollar. The Group’s operations in China and in international regions use their respective currencies as their functional currencies. The financial statements of these subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities and average rates of exchange in the period for revenues, costs and expenses. Translation gains and losses are recorded in accumulated other comprehensive income (loss) as a component of shareholders’ equity. Translation gains or losses are not released to net income unless the associated net investment has been sold, liquidated, or substantially liquidated. Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rate prevailing on the transactions dates. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in other income, net. Foreign currency translation adjustments included in the Group’s consolidated statements of comprehensive income for the years ended December 31, 2019, 2020 and 2021 were a loss of US$19.0 million, a gain of US$148.5 million and a gain of US$78.2 million, respecti

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-term Investments	12 Months Ended
	Dec. 31, 2021
Cash, Cash Equivalents and Short-term Investments
Cash, Cash Equivalents and Short-term Investments	3. Cash, Cash Equivalents and Short-term Investments Cash, cash equivalents and short-term investments consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 2021 ​ ​ (In US$ thousands) Cash and cash equivalents: ​ ​ ​ ​ ​ ​ Cash ​ ​ 1,814,844 ​ ​ 2,423,703 Short-term investments: ​ ​ ​ ​ ​ ​ Bank time deposits ​ 1,515,880 ​ 603,838 Wealth management products ​ ​ 166,168 ​ ​ 107,224 Subtotal ​ ​ 1,682,048 ​ ​ 711,062 Total cash, cash equivalents and short-term investments ​ ​ 3,496,892 ​ ​ 3,134,765 ​ The carrying amounts of cash, cash equivalents and short-term investments approximate fair value. Interest income was US$85.4 million, US$85.8 million and US$77.3 million for the years ended December 31, 2019, 2020 and 2021, respectively, including US$57.4 million, US$52.3 million and US$46.1 million interest income from cash, cash equivalents and short-term investments for the periods presented. The maturity dates for the time deposits and wealth management products were within one year.

Long-term Investments

Long-term Investments	12 Months Ended
	Dec. 31, 2021
Long-term Investments
Long-term Investments	4. Long-term Investments Long-term investments comprised of investments in publicly traded companies, privately held companies, and limited partnerships. The following sets forth the changes in the Group’s long-term investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without Readily ​ ​ ​ ​ Equity Securities With ​ ​ ​ ​ ​ Determinable Fair ​ ​ ​ ​ Readily Determinable ​ ​ ​ ​ Values Equity Method Fair Values Total ​ ​ (In US$ thousands) 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 Investments made/transfers from prepayments ​ ​ 96,768 ​ ​ 182,200 ​ ​ — ​ ​ 278,968 Income from equity method investment, net ​ ​ — ​ ​ 14,217 ​ ​ — ​ ​ 14,217 Dividend received from equity method investments ​ ​ — ​ ​ (11,695) ​ ​ — ​ ​ (11,695) Disposal of investments ​ ​ (75,667) ​ ​ — ​ ​ (4,946) ​ ​ (80,613) Changes from measurement alternative to consolidation (Note 6) ​ ​ (66,415) ​ ​ — ​ ​ — ​ ​ (66,415) Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values ​ ​ (142,000) ​ ​ — ​ ​ 142,000 ​ ​ — Impairment on investments ​ ​ (106,800) ​ ​ — ​ ​ — ​ ​ (106,800) Fair value change through earnings ​ ​ (23,316) ​ ​ — ​ ​ 9,877 ​ ​ (13,439) Currency translation adjustment ​ ​ 7,062 ​ ​ 6,900 ​ ​ — ​ ​ 13,962 Balance at December 31, 2021 ​ ​ 268,716 ​ ​ 502,783 ​ ​ 436,152 ​ ​ 1,207,651 ​ 4. Long-term Investments (Continued) For the years ended December 31, 2019, 2020 and 2021, the Group invested in private companies totaling US$268.7 million, US$134.9 million and US$96.8 million, respectively, which were accounted for under investments without readily determinable fair values. These investments were primarily to further expand and strengthen the Group’s ecosystem and mainly included a follow-on investment of US$100.0 million in Yixia Tech Co., Ltd. (“Yixia Tech”), a developer of mobile video apps in 2019, an investment of US$46.8 million in a financing guarantee company and an investment of US$30.6 million in a commercial search business in 2020, as well as a further investment of US$39.5 million in the company operating Wuta application and a follow-on investment of US$20.0 million in a company providing online brokerage services during 2021. The Group obtained control of the company operating the Wuta application through the step acquisition and recorded US$27.6 million fair value change loss for the equity interest previously held by the Group immediately prior to the step acquisition. The impact of the transaction was reflected in the changes from measurement alternative to consolidation. The Group also invested US$91.9 million, US$92.9 million and US$182.2 million in companies, which were accounted for under equity method, for the years ended December 31, 2019, 2020 and 2021, respectively. These investments mainly included a US$57.4 million investment in a company providing consumer finance services in 2019, and several investment funds in 2020 and 2021, respectively. The Group used measurement alternative for recording equity investments without readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes. Based on ASU 2016-01, entities that elect the measurement alternative will report changes in the carrying value of the equity investments in current earnings. If measurement alternative is used, changes in the carrying value of the equity investment will be recognized whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer, and impairment charges will be recorded when any impairment indicators are noted and the fair value is lower than the carrying value. The Group classifies the valuation techniques on investments that use similar identifiable transaction prices as Level 2 of fair value measurements. The following table summarizes the total carrying value of the equity investments accounted for under the measurement alternative as of December 31, 2020 and 2021, respectively, including cumulative upward and downward adjustments made to the initial cost basis of the securities. ​ ​ ​ ​ ​ Cumulative Results ​ ​ (In US$ thousands) 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 ​ ​ ​ ​ Initial cost basis ​ ​ 656,011 Upward adjustments ​ 85,710 Downward adjustments ​ (490,498) Foreign currency translation ​ ​ 17,493 Total carrying value at December 31, 2021 ​ ​ 268,716 ​ ​ ​ ​ ​ The Group assessed or engaged independent valuation firms to help the management assess the fair value of certain investments as of December 31, 2020 and 2021, using Level 3 of fair value measurement and concluded that impairment was warranted for those investments at the year end. Thus, the Group recognized US$126.8 million and US$106.8 million impairment charges to investments without readily determinable fair value for the years ended December 31, 2020 and 2021, respectively. The impairment charges mainly included a partial impairment of US$59.8 million on an investee in e-commerce business as well as a US$39.3 million write-off on a game company in 2020, and a full impairment of US$75.3 million on the investment in Yixia Tech in 2021, due to their unsatisfied financial performance with no obvious upturn or potential financing solutions in the foreseeable future. 4. Long-term Investments (Continued) Investments in marketable equity securities are valued using the market approach based on the quoted prices in active markets at the reporting dates. The Group classified the valuation techniques that use these inputs as Level 1 of fair value measurements. In December 2019, one of the Group’s investees, Beijing Showworld Technology Co., Ltd. (“Showworld”), a company providing social and new media marketing services, completed its listing on Shanghai Stock Exchange through an equity reconstruction with a then-listed company. Before Showworld’s IPO, the Group accounted for the investment under equity securities without readily determinable fair values and then reclassified it to investments with readily determinable fair values the moment it went public. The Group recorded a fair value change gain of US$204.7 million and US$1.0 million for Showworld in 2020 and 2021, respectively. One of the Group’s investees, Didi Global Inc. (“Didi”), a company operating a mobility technology platform, completed its initial public offering and started trading on July 1, 2021, China time. Therefore, investment in Didi amounting to US$142.0 million was transferred from measurement alternative to equity securities with readily determinable fair value, and a fair value change gain of US$7.1 million was recorded in 2021. The following table shows the carrying amount and fair value of the marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Cost ​ Unrealized ​ Unrealized ​ Fair ​ Basis Gains Losses Value ​ (In US$ thousands) 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 Showworld ​ ​ 81,385 ​ ​ 205,659 ​ ​ — ​ ​ 287,044 Didi ​ ​ 142,000 ​ ​ 7,108 ​ ​ — ​ ​ 149,108 December 31, 2021 ​ ​ 223,385 ​ ​ 212,767 ​ ​ — ​ ​ 436,152 ​ The Group recorded investment-related impairment of US$249.9 million, US$212.0 million and US$106.8 million for the years ended December 31, 2019, 2020 and 2021, respectively, due to the investees not performing to expectation or them becoming incapable of making repayments. The impairment charges in 2020 included a partial impairment of US$59.8 million on an investee in e-commerce business, a US$39.3 million write-off on a game company, and US$82.2 million impairment charge on loans to investees (Note 10), as well as other impairments of US$30.7 million. The impairment charges in 2021 was mainly caused by a full impairment of US$75.3 million on the investment in Yixia Tech.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases
Leases	5. Leases The Group has operating leases primarily for office spaces in China. The determination of whether an arrangement is or contains a lease is made at inception by evaluating whether the arrangement conveys the right to use an identified asset and whether the Group obtains substantially all of the economic benefits from and has the ability to direct the use of the asset. Operating lease assets and liabilities are included in operating lease right-of-use assets, operating lease liabilities, short-term, and operating lease liabilities, long-term on the Group’s consolidated balance sheets. The Group has chosen to not recognize lease assets and lease liabilities for leases with a term of twelve months or less on the consolidated balance sheets. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of lease payments over the lease terms at the lease commencement dates. The Group uses its incremental borrowing rate in determining the present value of lease payments. The incremental borrowing rate is a hypothetical rate based on the Group’s understanding of what interest the Group would pay in order to obtain a borrowing with an amount equivalent to the lease payments in a similar economic environment over the lease term on a collateralized basis from banks in China. 5. Leases (Continued) Certain lease agreements contain an option for the Group to renew a lease for a term agreed by the Group and the lessor or an option to terminate a lease earlier than the maturity dates. The Group considers these options, which may be elected at the Group’s sole discretion, in determining the lease term on a lease-by-lease basis. The Group’s lease agreements generally do not contain any residual value guarantees or material restrictive covenants. Certain of the Group’s leases contain free or escalating rent payment terms. The Group’s lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. The Group has chosen to combine payments for non-lease components with lease payments and accounted them together as a single lease component. Payments under the lease arrangements are primarily fixed. However, for arrangements accounted for as a single lease component, there may be variability in future lease payments as the amount of the non-lease components is typically revised from one period to the next. Additionally, certain lease agreements with SINA contain variable payments, which are determined based on actual SINA headquarters spaces occupied by the Group and are expensed as incurred and not included in the operating lease assets and liabilities. The components of lease cost for the years ended December 31, 2019,2020 and 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 ​ 2021 ​ ​ (In US$ thousands) Operating lease cost ​ ​ 4,693 ​ ​ 4,902 ​ ​ 7,625 Short-term lease cost ​ ​ 2,663 ​ 3,167 ​ ​ 4,776 Variable lease cost ​ ​ 4,172 ​ 4,479 ​ ​ 5,287 Total lease cost ​ ​ 11,528 ​ ​ 12,548 ​ ​ 17,688 ​ Other information related to leases was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 ​ 2021 ​ ​ (In US$ thousands) Supplemental Cash Flows Information: ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for operating leases ​ ​ (4,683) ​ ​ (5,522) ​ ​ (8,948) Operating lease assets obtained in exchange for operating lease liabilities ​ ​ 944 ​ ​ 1,675 ​ ​ 65,459 ​ Maturities of lease liabilities under operating leases as of December 31, 2021 were as follows: ​ ​ ​ ​ ​ Year Ended December 31, (In US$ thousands) 2022 ​ ​ 11,271 2023 ​ 10,329 2024 ​ ​ 10,861 2025 ​ ​ 10,413 2026 and thereafter ​ 44,073 Total future payments for recognized leasing assets ​ ​ 86,947 Less: leases not yet commenced ​ ​ 6,520 Less: imputed interest ​ 20,466 Total lease liabilities ​ ​ 59,961 ​ The increase of operating lease assets obtained in exchange for operating lease liabilities in 2021 was mainly due to the renewal of lease agreements expired and several new lease agreements signed by the Group in 2021. As of December 31, 2021, operating leases recognized in lease liabilities have average remaining lease terms of 11.8

Goodwill, Intangible Assets and

Goodwill, Intangible Assets and Acquisitions	12 Months Ended
	Dec. 31, 2021
Goodwill, Intangible Assets and Acquisitions
Goodwill, Intangible Assets and Acquisitions	6.Goodwill, Intangible Assets and Acquisitions 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 US$218.6 million. The Group also entered into a contingent payment arrangement and a contingent allocation arrangement over the 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 games in development stage of US$124.2 million with estimated lives ranging from four The consideration of the acquisition of JM Tech was allocated based on the fair value of the assets acquired and the liabilities assumed as follows: ​ ​ ​ ​ ​ ​ ​ As of October 31, 2020 ​ ​ (In US$ thousands) Consideration ​ 218,590 Redeemable non-controlling interest (Note 17) ​ 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 US$11.5 million of revenues and US$7.2 million of net income to the Group in 2020. Since it did not have a material impact on the Group’s consolidated financial statements, pro forma disclosures have not been presented. In the second quarter of 2021, the Group acquired another 51.2% equity interest of an investee operating a leading mobile photo and video application in China, Wuta application, in which the Group previously held 34.8% equity interest, with a cash consideration of US$39.5 million. The Group obtained the control and held 86% equity interest in the investee upon completion of the transaction on May 1, 2021. 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 the acquisition date included user base, domain names and operating system of US$16.5 million with estimated lives ranging from three 6. Goodwill, Intangible Assets and Acquisitions (Continued) The consideration of the acquisition of the company operating Wuta application was allocated based on the fair value of the assets acquired and the liabilities assumed as follows: ​ ​ ​ ​ ​ ​ As of May 1, 2021 ​ ​ (In US$ thousands) Consideration ​ ​ 39,540 Fair value of previously held equity interest ​ 26,875 Non-controlling interest ​ 10,811 Total ​ ​ 77,226 ​ ​ ​ ​ Cash and short-term investments acquired ​ ​ 5,786 Other assets acquired ​ 6,801 Identifiable intangible assets acquired ​ 16,495 Goodwill ​ 51,034 Liabilities assumed ​ (2,890) Total ​ ​ 77,226 ​ In August 2021, the Group acquired an E-sports team and the related assets. 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 game related assets of US$19.3 million with estimated lives of ten years. The intangible assets were measured at fair value upon acquisition primarily using royalty savings method and multi-periods excess earning method. Key assumptions and estimates used in determining the fair value of these intangible assets include discount rate, terminal growth rate and royalty rate. The consideration of the acquisition of the E-sports team and the related assets was allocated based on the fair value of the assets acquired and the liabilities assumed as follows: ​ ​ ​ ​ ​ ​ As of August 1, 2021 ​ ​ (In US$ thousands) Consideration ​ ​ 30,953 ​ ​ ​ ​ Identifiable intangible assets acquired ​ ​ 19,274 Goodwill ​ 14,745 Liabilities assumed ​ (3,066) Total ​ ​ 30,953 ​ The two acquisitions completed in 2021 mentioned above individually contributed immaterial amounts to revenues and net income for 2021. Since they did not have a material impact on the Group’s consolidated financial statements, pro forma disclosures have not been presented. Apart from what have been disclosed above, there was no other acquisitions during the years ended December 31, 2019, 2020 and 2021, respectively. 6. Goodwill, Intangible Assets and Acquisitions (Continued) The following sets forth the changes in the Group’s goodwill by segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising & Value-added ​ ​ ​ ​ Marketing ​ services ​ Total ​ ​ (In US$ thousands) 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 Acquisition of the company operating Wuta application ​ ​ 51,034 ​ ​ — ​ ​ 51,034 Acquisition of an E-sports team ​ ​ — ​ ​ 14,745 ​ ​ 14,745 Currency translation adjustment ​ ​ 1,813 ​ ​ 1,101 ​ ​ 2,914 Balance as of December 31, 2021 ​ ​ 83,746 ​ ​ 46,659 ​ ​ 130,405 ​ 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. For the years ended December 31, 2019, 2020 and 2021, no impairment indicator was noted by performing qualitative analysis, therefore, no provision was recorded. The following table summarizes the Group’s intangible assets arising from acquisitions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ As of December 31, 2021 ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ Cost Amortization Net Cost Amortization Net ​ ​ (In US$ thousands) ​ (In US$ thousands) Game related ​ ​ 127,238 ​ ​ (2,199) ​ ​ 125,039 ​ ​ 150,371 ​ ​ (16,649) ​ ​ 133,722 Technology ​ ​ 9,544 ​ ​ (4,417) ​ ​ 5,127 ​ ​ 10,172 ​ ​ (5,494) ​ ​ 4,678 Trademark and Domain name ​ ​ 12,788 ​ ​ (1,542) ​ ​ 11,246 ​ ​ 20,078 ​ ​ (4,458) ​ ​ 15,620 Supplier-relationship ​ ​ 10,253 ​ ​ (4,689) ​ ​ 5,564 ​ ​ 10,538 ​ ​ (6,961) ​ ​ 3,577 Others ​ ​ 2,449 ​ ​ (2,449) ​ ​ — ​ ​ 13,924 ​ ​ (4,591) ​ ​ 9,333 Total ​ ​ 162,272 ​ ​ (15,296) ​ ​ 146,976 ​ ​ 205,083 ​ ​ (38,153) ​ ​ 166,930 ​ The amortization expense for the years ended December 31, 2019, 2020 and 2021 was US$3.4 million, US$5.7 million and US$22.2 million, respectively. As of December 31, 2021, estimated amortization expenses for future periods are expected as follows: ​ ​ ​ ​ ​ Year Ended December 31, (In US$ thousands) 2022 ​ ​ 24,662 2023 ​ ​ 23,150 2024 ​ ​ 21,456 2025 ​ ​ 17,620 2026 and thereafter ​ ​ 80,042 Total expected amortization expense ​ ​ 166,930 ​

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2021
Stock-Based Compensation
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, ​ 2019 2020 2021* ​ ​ (In US$ thousands) Cost of revenues ​ ​ 5,251 ​ 5,384 ​ 8,112 Sales and marketing ​ ​ 9,828 ​ 9,983 ​ 15,292 Product development ​ ​ 28,628 ​ 33,093 ​ 43,622 General and administrative ​ ​ 17,582 ​ 18,645 ​ 20,970 ​ ​ ​ 61,289 ​ 67,105 ​ 87,996 * Excluded non-cash stock-based compensation of US$7.9 million to SINA employees charged through Amount due from SINA in 2021. The following table sets forth a summary of the number of shares available for issuance: ​ ​ ​ ​ ​ Shares Available ​ ​ (In thousands) December 31, 2018 17,293 Addition ​ — Granted* ​ (2,411) Cancelled/expired/forfeited ​ 222 December 31, 2019 15,104 Addition ​ — Granted* ​ (3,040) Cancelled/expired/forfeited ​ 431 December 31, 2020 12,495 Addition ​ — Granted* (5,752) Cancelled/expired/forfeited 692 December 31, 2021 7,435 * For the years ended December 31, 2019, 2020 and 2021, 2.4 million, 2.5 million and 5.8 million restricted share units were granted under the 2014 Plan, respectively. Options of nil , 0.5 million and nil were granted during 2019, 2020 and 2021,respectively . 7. Stock-Based Compensation (Continued) Stock Options The following table sets forth a summary of option activities under the Company’s stock option program: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Options ​ Weighted Average ​ Remaining ​ Aggregate ​ ​ Outstanding ​ Exercise Price ​ Contractual Life ​ Intrinsic Value ​ ​ (In thousands) ​ (In US$) ​ (In years) ​ (In US$ thousands) 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 Granted — ​ ​ — ​ ​ ​ ​ ​ Exercised (105) ​ ​ 12.70 ​ ​ ​ ​ ​ Cancelled/expired/forfeited (59) ​ ​ 32.68 ​ ​ ​ ​ ​ December 31, 2021 387 ​ ​ 32.68 ​ 5.6 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest as of December 31, 2021 351 ​ ​ 32.68 5.6 ​ ​ — Exercisable as of December 31, 2021 82 ​ ​ 32.68 5.6 ​ ​ — ​ The total intrinsic value of options exercised for the years ended December 31, 2019, 2020 and 2021 was US$4.2 million, US$0.5 million and US$4.0 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, 2020 and 2021 was US$40.99 and US$30.98, respectively. Cash received from the exercise of stock options during the years ended December 31, 2019, 2020 and 2021 was US$0.3 million, US$0.1 million and US$1.3 million, respectively. As of December 31, 2020 and 2021, unrecognized compensation cost (adjusted for estimated forfeitures), related to non-vested stock options granted to the Company’s employees and directors was US$5.4 million and US$3.2 million, respectively. As of December 31, 2021, total unrecognized compensation cost is expected to be recognized over a weighted-average period of 2.7 years and may be adjusted for future changes in estimated forfeitures. Information regarding stock options outstanding is summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ Weighted ​ Weighted Average ​ ​ Options ​ Average ​ Options ​ Average ​ Remaining Range of Exercise Prices Outstanding Exercise Price Exercisable Exercise Price Contractual Life ​ ​ (In thousands) ​ ​ (In US$) ​ (In thousands) ​ ​ (In US$) ​ (In years) As of December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US$ 3.43 - US$3.50 72 ​ ​ 3.50 72 ​ ​ 3.50 0.2 US$32.68 479 ​ ​ 32.68 — ​ ​ — — ​ 551 ​ ​ 28.85 72 ​ ​ 3.50 0.2 As of December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US$32.68 ​ 387 ​ ​ 32.68 ​ 82 ​ ​ 32.68 ​ 5.6 ​ 7. Stock-Based Compensation (Continued) Restricted Share Units ​ Summary of Performance-Based Restricted Share Units The following table sets forth a summary of performance-based restricted share unit activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ ​ Grant Date ​ ​ Shares Granted ​ Fair Value ​ ​ (In thousands) ​ (In US$) 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 Awarded ​ 15 ​ ​ 54.08 Vested ​ (2) ​ ​ 38.78 Cancelled ​ (19) ​ ​ 40.63 December 31, 2021 11 ​ ​ 54.17 ​ As of December 31, 2020 and 2021, there was no material unrecognized compensation cost (adjusted for estimated forfeitures), related to performance-based restricted share units granted to the Company’s employees, respectively. ​ 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) ​ (In US$) 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 Awarded 5,737 ​ ​ 47.95 Vested ​ (1,608) ​ ​ 45.66 Cancelled ​ (614) ​ ​ 44.02 December 31, 2021 7,839 ​ ​ 45.37 ​ ​ 7. Stock-Based Compensation (Continued) Restricted Share Units ​ As of December 31, 2020 and 2021, unrecognized compensation cost (adjusted for estimated forfeitures) was US$139.6 million and US$275.7 million, respectively, which was related to non-vested service-based restricted share units granted to the Company’s employees and directors. As of December 31, 2021, this cost is expected to be recognized over a weighted-average period of 3.3 years. The total fair value based on the vesting date of the restricted share units vested was US$51.7 million, US$64.2 million and US$73.4 million for the years ended December 31, 2019, 2020 and 2021, respectively.

Other Balance Sheet Components

Other Balance Sheet Components	12 Months Ended
	Dec. 31, 2021
Other Balance Sheet Components
Other Balance Sheet Components	8. Other Balance Sheet Components ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2019 2020 2021 ​ ​ ​ (In US$ thousands) Accounts receivable, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ Due from third parties ​ ​ ​ ​ ​ 343,220 ​ ​ 620,632 Due from Alibaba ​ ​ ​ ​ ​ 135,321 ​ ​ 89,344 Due from other related parties ​ ​ ​ ​ ​ 48,625 ​ ​ 55,763 Total gross amount ​ ​ ​ ​ ​ 527,166 ​ ​ 765,739 Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at the beginning of the year ​ (12,429) ​ ​ (36,594) ​ ​ (35,156) Additional provision charged to expenses, net ​ (38,561) ​ ​ (53,124) ​ ​ (19,702) Write-off ​ ​ 14,396 ​ ​ 54,562 ​ ​ 12,208 Balance at the end of the year ​ (36,594) ​ ​ (35,156) ​ ​ (42,650) ​ ​ ​ ​ ​ ​ 492,010 ​ ​ 723,089 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prepaid expenses and other current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Rental and other deposits ​ ​ ​ ​ ​ 1,186 ​ ​ 1,949 Deductible value-added taxes ​ ​ ​ ​ ​ 598 ​ ​ 3,063 Investment prepayment (1) ​ ​ ​ ​ ​ 15,308 ​ ​ — Loans to and interest receivable from other related parties (2) ​ ​ ​ ​ ​ 158,622 ​ ​ 219,679 Loans to and interest receivable from third parties (2) ​ ​ ​ ​ ​ 41,784 ​ ​ 137,024 Advertising prepayment ​ ​ ​ ​ ​ 18,888 ​ ​ 12,011 Prepayment to outsourced service providers ​ ​ ​ ​ ​ 3,719 ​ ​ 3,776 Amounts deposited by users (3) ​ ​ ​ ​ ​ 45,745 ​ ​ 53,997 Content fees ​ ​ ​ ​ ​ 3,080 ​ ​ 1,695 Others ​ ​ ​ ​ ​ 7,827 ​ ​ 17,532 ​ ​ ​ ​ ​ ​ 296,757 ​ ​ 450,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ Computers and equipment ​ ​ ​ ​ ​ 165,880 ​ ​ 188,476 Leasehold improvements ​ ​ ​ ​ ​ 6,429 ​ ​ 7,331 Furniture and fixtures ​ ​ ​ ​ ​ 2,159 ​ ​ 2,554 Others ​ ​ ​ ​ ​ 5,077 ​ ​ 7,233 Property and equipment, gross ​ ​ ​ ​ ​ 179,545 ​ ​ 205,594 Accumulated depreciation ​ ​ ​ ​ ​ (118,913) ​ ​ (137,198) ​ ​ ​ ​ ​ ​ 60,632 ​ ​ 68,396 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other non-current assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment-related deposits (4) ​ ​ ​ ​ ​ 15,450 ​ ​ 366,067 Loans to and interest receivable from a related party (2) ​ ​ ​ ​ ​ — ​ ​ 480,786 Prepayment for purchase of SINA Plaza (5) ​ ​ ​ ​ ​ — ​ ​ 133,734 Wealth management products, long-term (6) ​ ​ ​ ​ ​ — ​ ​ 50,159 Deferred tax assets ​ ​ ​ ​ ​ 27,020 ​ ​ 40,537 Others ​ ​ ​ ​ ​ 2,126 ​ ​ 11,558 ​ ​ ​ ​ ​ ​ 44,596 ​ ​ 1,082,841 Accrued and other liabilities (7) : ​ ​ ​ ​ ​ ​ ​ ​ ​ Payroll and welfare ​ ​ ​ ​ ​ 126,023 ​ ​ 170,534 Marketing expenses ​ ​ ​ ​ ​ 59,410 ​ ​ 82,471 Sales rebates ​ ​ ​ ​ ​ 222,064 ​ ​ 359,813 Professional fees ​ ​ ​ ​ ​ 3,880 ​ ​ 7,791 VAT and other tax payable ​ ​ ​ ​ ​ 49,971 ​ ​ 53,589 Amounts due to users (3) ​ ​ ​ ​ ​ 45,745 ​ ​ 53,997 Unpaid consideration for acquisition ​ ​ ​ ​ ​ 10,280 ​ ​ 6,293 Unpaid consideration for investment ​ ​ ​ ​ ​ 19,257 ​ ​ 441 Interest payable for convertible debt and unsecured senior notes ​ ​ ​ ​ ​ 923 ​ ​ 27,579 Listing expenses payable ​ ​ ​ ​ ​ — ​ ​ 9,347 Others ​ ​ ​ ​ ​ 19,200 ​ ​ 49,178 ​ ​ ​ ​ ​ ​ 556,753 ​ ​ 821,033 ​ 8. Other Balance Sheet Components (Continued) (1) For the years ended December 31, 2019 and 2020, the Group recognized US $19.1 million and US $1.5 million of impairment charges on investment prepayment (all fully impaired), respectively, due to the deterioration of investees’ operations resulting in their inability to refund the prepayments. No impairment charges on investment prepayment was recorded for the year ended December 31, 2021. (2) Loans to related parties and third parties incurred for the years ended December 31, 2019, 2020 and 2021 were non-trade in nature. (3) Weibo wallet enables users to conduct interest-generation activities on Weibo, such as handing out “red envelopes” and coupons to users and purchase different types of products and services on Weibo, including those offered by the Group, such as marketing services and VIP membership, and those offered by Weibo’s platform partners, such as e-commerce merchandises, financial products and virtual gifts. Amounts deposited by users primarily represent the receivable temporarily held in Weibo’s account on a third party online payment platform for Weibo wallet users. Amounts due to users represent the balances that are payable on demand to Weibo wallet users and therefore are reflected as current liability on the consolidated balance sheets. (4) As of December 31, 2021, investment-related deposits primarily included US$ 77.9 million in a micro loan company and US$ 269.1 million in a game company. These non-current assets will be transferred to long-term investment when the legal procedures are completed. (5) Weibo entered into a letter of intent to purchase the office building (SINA Plaza) from SINA and made a prepayment. As of December 31, 2021, the balance of prepayment for SINA Plaza was US$ 133.7 million. (6) The Group measures wealth management products at fair value. It engaged an independent valuation firm to help the management to determine the fair value of certain wealth management products which were overdue in 2021. US $59.3 million loss for those products was recognized in fair value changes through earnings on investments, net, on the consolidated statements of comprehensive income in 2021. The remaining fair value of those products amounting to US $50.2 million was recorded in other non-current assets as of December 31, 2021. (7) Include amounts due to third parties, employees, related parties (Note 10) and Weibo wallet users.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
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, ​ 2019 2020 2021 ​ ​ (In US$ thousands, except percentage) Income before income tax expenses ​ ​ 602,397 ​ ​ 375,913 ​ ​ 550,718 ​ Less: loss from non-China operations ​ ​ (106,256) ​ ​ (57,031) ​ ​ (232,830) ​ Income from China operations ​ ​ 708,653 ​ ​ 432,944 ​ ​ 783,548 ​ Income tax expense applicable to non-China operations ​ ​ 21,473 ​ ​ 2,852 ​ ​ 1,355 ​ Income tax expense applicable to China operations ​ ​ 88,091 ​ ​ 58,464 ​ ​ 137,486 ​ Total income tax expenses ​ ​ 109,564 ​ ​ 61,316 ​ ​ 138,841 ​ Effective tax rate for China operations ​ 12.4 % ​ 13.5 % ​ 17.5 % Effective tax rate for the Group ​ 18.2 % ​ 16.3 % ​ 25.2 % ​ The Company generated the majority of its operating income from PRC operations and has recorded income tax provision for the periods presented. The Group’s loss from non-China operations mainly included stock-based compensation, fair value changes through earnings on investments and investment-related impairment recorded by the Group’s non-China subsidiaries. The Group’s non-China operations have recognized US$21.5 million deferred tax charges from fair value change of investments in 2019. 9. Income Taxes (Continued) 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. 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, 2019, 2020 and 2021, the Company’s Hong Kong subsidiary had a net operating loss of US$8.9 million, US$10.4 million and US$0.8 million, which can be carried forward indefinitely to offset future taxable income. The deferred tax assets of Weibo HK as of December 31, 2019, 2020 and 2021 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 enterprise”, “key software enterprise” (“KSE”) and/or “high and new technology enterprise” (“HNTE”). Weibo Technology, the Group’s WFOE, 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 and it has already benefited from the preferential tax treatment of “software enterprise” status from 2015 to 2019. Weibo Technology was also granted the HNTE status for the fiscal years from 2017 to 2022, which entitled the qualified entity a preferential tax rate of 15% in 2020 and 2021. Its qualification as a HNTE is subject to self-evaluation, and the relevant documents should be retained for future examination purpose. Upon the expiration of qualification, re-accreditation of certification from the relevant authorities is necessary for Weibo Technology to continue enjoying the preferential tax treatment. In addition, certain of the Group’s other PRC entities are also qualified as a “software enterprise”, and/or HNTE, and currently enjoy the respective preferential tax treatments. According to the relevant laws and regulations in the PRC, enterprises engaging in research and development activities were entitled to claim 150% of their research and development expenses incurred as tax deductible expenses when determining their assessable profits for that year (the “R&D Deduction”). The State Taxation Administration of the PRC (“STA”) announced in September 2018 that enterprises engaging in research and development activities would be entitled to claim 175% of their research and development expenses as R&D Deduction from January 1, 2018 to December 31, 2020. The deadline for enjoying this preferential R&D deduction policy was extended to December 31, 2023 as announced in March 2021 by STA. 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%. 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 and subsequent amendments, 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). ​ 9. Income Taxes (Continued) China (Continued) 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. Under such circumstances, if Weibo HK is deemed to be a “PRC resident enterprise”, the dividends distributed from Weibo Technology to Weibo HK is not subject to dividend withholding tax. Also, Weibo HK would be subject to PRC enterprise income tax on at a rate of 25%. 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. 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, 2021, the Group had a total undistributed PRC earnings of RMB 19.3 billion, which undistributed earnings that are subject to dividend tax are expected to be indefinitely reinvested for the foreseeable future. The Group did not record any withholding tax for its PRC earnings and considered determination of such withholding tax amount not practicable. Composition of income tax expenses The following table sets forth current and deferred portion of income tax expenses of the Group: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ ​ (In US$ thousands) Deferred tax provisions (benefits) ​ ​ 16,839 ​ (15,727) ​ (12,478) Current income tax expenses ​ ​ 92,725 ​ ​ 77,043 ​ ​ 151,319 Income tax expenses ​ ​ 109,564 ​ 61,316 ​ 138,841 ​ Reconciliation of the statutory tax rate to the effective tax rate The following table sets forth reconciliation between the statutory EIT rate and the effective tax rate: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 Statutory EIT rate 25.0 % 25.0 % 25.0 % Effect on tax holiday and preferential tax treatment (1) ​ (16.1) % (24.1) % (13.1) % Research and development super-deduction ​ (1.4) % (3.5) % (7.5) % Non-deductible expenses and non-taxable income and others (2) ​ 0.4 % (0.6) % 9.2 % Change in valuation allowance 2.4 % 14.9 % 0.7 % Tax rate difference from statutory rate in other jurisdictions ​ 7.9 % 4.6 % 10.9 % Effective tax rate for the Group 18.2 % 16.3 % 25.2 % (1) Included the impact of Weibo Technology’s preferential tax treatment of “key software enterprise” status of 2018 in 2019, and 2019 in 2020, respectively, as well as preferential tax treatment benefited by certain other PRC entities. (2) Included the impact of uncertain tax positions recognized for 2021. ​ 9. Income Taxes (Continued) The provision for income taxes for China operations for the years ended December 31, 2019, 2020 and 2021 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 year ended December 31, 2019, Weibo Technology enjoyed a tax reduction of US$83.2 million due to the preferential tax treatment of being a qualified software enterprise. It also enjoyed a tax reduction of US$55.1 million and US$55.1 million for the HNTE status in 2020 and 2021. The WFOE further recognized preferential tax treatment of “key software enterprise” status and tax benefit of research and development super deduction of US$21.5 million for 2018 in 2019, and US$26.6 million for 2019 in 2020. It also recognized tax benefit of research and development super deduction of US$41.4 million in 2021 and the preferential tax treatment of “Key software enterprise” status lapsed in 2021. The Group did not recognize these tax benefits in the corresponding year as they were uncertain, and only recorded them on a lag basis when the tax benefits become more-likely-than-not to be sustained in the next year. If the Group assessed that the benefits were more-likely-than-not to be sustained in the corresponding year, they would accordingly recognize the tax benefits.The preferential tax treatments benefited by the Group during the three-year period ended December 31, 2021 amounting to US$97.1 million, US$90.3 million and US$72.3 million, resulted in an effect of US$0.43, US$0.40 and US$0.32 on basic net income per share in 2019, 2020 and 2021, respectively. Deferred tax assets and liabilities The following table sets forth the significant components of deferred tax assets and liabilities for the Group: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 2021 ​ ​ (In US$ thousands) Deferred tax assets: ​ ​ ​ ​ ​ ​ Net operating loss carry forwards ​ ​ 8,872 ​ ​ 7,875 Valuation allowance ​ ​ (8,872) ​ ​ (7,875) Depreciation, investment-related impairment, accounts receivable, accrued and other liabilities ​ ​ 107,892 ​ ​ 126,753 Valuation allowance ​ ​ (80,872) ​ ​ (86,216) Net deferred tax assets ​ ​ 27,020 ​ ​ 40,537 ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ Acquired intangible assets ​ ​ 30,999 ​ ​ 36,471 Depreciation ​ ​ 1,435 ​ ​ 1,662 Investment gain ​ ​ 25,496 ​ ​ 28,454 Others ​ ​ 369 ​ ​ 316 Total deferred tax liabilities ​ ​ 58,299 ​ ​ 66,903 ​ 9. Income Taxes (Continued) 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, 2020 and 2021 was US$89.7 million and US$94.1 million, respectively. The valuation allowance primarily consists of credit loss allowances and investment impairment charges/fair value change of investments. Historically, deferred tax assets were valued using the tax rate applicable to each entity for China operations. Net operating loss carry forwards for China operations as of December 31, 2021 will expire, if unused, in the years ending December 31, 2022 through December 31, 2026. ​ Uncertain tax position Except for the lag recognition of preferential tax treatment of KSE status, research and development super deduction and stock based related deduction, the Group did not record any liability or decrease in deferred tax asset related to uncertain tax positions as of December 31, 2020 and 2021, and thus, no interest and penalties related to uncertain tax positions were recorded. For the year ended December 31, 2021, based on interactions with the tax authorities, the Group received additional guidance regarding certain areas with heightened requirements, and updated its estimate of related tax benefit amount that is expected to be sustained upon settlement with tax authorities. Additional US$27.9 million tax liability related to uncertain tax positions was recognized for 2021, which is based on the updated estimate of the largest amount of tax benefit that is greater than 50% likely to be realized upon settlement with the tax authorities. It is possible that the estimate and ultimate resolution of these uncertain tax positions may further change based on further interactions with the tax authorities. In general, the PRC tax authorities have up to five years to review a company’s tax filings. Accordingly, tax filings of the Company’s PRC subsidiaries and VIEs for tax years 2017 through 2021 remain subject to the review by the relevant PRC tax authorities.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions
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 the years ended December 31,2019, 2020 and 2021, the Group entered in to 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 US$233.9 million, US$473.8 million and US$978.2 million from the Group and repaid US$43.6 million, US$181.7 million and US$1,058.6 million to the Group during the years ended December 31, 2019, 2020 and 2021, respectively. As of December 31, 2020 and 2021, the loans to and interest receivable from SINA were US$547.9 million and US$479.6 million, respectively. The following sets forth significant related party transactions with the Group: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Transactions with SINA ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue billed through SINA ​ ​ 109,949 ​ ​ 41,754 ​ ​ 68,351 Revenue from services provided to SINA ​ ​ 27,274 ​ ​ 20,348 ​ ​ 43,170 Total ​ ​ 137,223 ​ ​ 62,102 ​ ​ 111,521 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Costs and expenses allocated from SINA (1) ​ ​ 51,848 ​ ​ 43,011 ​ ​ 38,270 Interest income on loans to SINA ​ ​ 9,295 ​ ​ 13,458 ​ ​ 17,943 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Transactions with Alibaba ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising and marketing revenues from Alibaba – as an advertiser ​ ​ 97,772 ​ ​ 152,000 ​ ​ 139,561 Advertising and marketing revenues from Alibaba – as an agent ​ ​ — ​ ​ 36,597 ​ ​ 41,680 Services provided by Alibaba ​ ​ 50,205 ​ ​ 52,338 ​ ​ 44,006 (1) 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 US $37.5 million,US $48.3 million and US $48.0 million for other costs and expenses incurred by Weibo but paid by SINA for the years ended December 31, 2019, 2020 and 2021, respectively. During the years ended December 31, 2020 and 2021, Weibo allocated US $9.7 million and US $0.8 million to SINA for costs and expenses related to certain of SINA’s activities for which Weibo made the payments, respectively. The following table sets forth the details of the revenues from SINA by advertising and marketing revenues and value-added services revenues for the periods specified. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Transactions with SINA ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising and marketing revenues ​ ​ 112,974 ​ ​ 48,353 ​ ​ 96,359 Value-added services revenues ​ ​ 24,249 ​ ​ 13,749 ​ ​ 15,162 Total ​ ​ 137,223 ​ ​ 62,102 ​ ​ 111,521 ​ 10. Related Party Transactions (Continued) ​ The following sets forth related party outstanding balance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 2021 ​ ​ ​ (In US$ thousands) Amount due from SINA (2) ​ 548,900 ​ 494,200 Accounts receivable due from Alibaba ​ 135,321 ​ 89,344 ​ ​ ​ ​ ​ ​ ​ Loans to and interest receivable (3) (4) ​ ​ ​ ​ ​ ​ - Company A (an investee in e-commerce business) ​ ​ 79,762 ​ ​ — - Company B (an investee providing social and new media marketing services) ​ ​ 21,771 ​ ​ 2,789 - Company C (an investee providing online brokerage services) ​ ​ 41,205 ​ ​ 211,583 - Others ​ ​ 15,884 ​ ​ 5,307 Subtotal (included in prepaid expenses and other current assets) ​ ​ 158,622 ​ ​ 219,679 - Company D (an investee in real estate business) (included in other non-current assets) ​ ​ — ​ ​ 480,786 Total ​ ​ 158,622 ​ ​ 700,465 (2) 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, 2020 and 2021, the amount due from SINA also included loans to and interest receivable from SINA of US $547.9 million and US $479.6 million at an annual interest rate ranging from 1.0% to 4.5% 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 10.0% (interest free for Company B and partial loans to Company D) at both dates. These balances are non-trade in nature. (4) The Group assessed the collectability of outstanding loans at least on annual basis or whenever impairment indicators noted. For the years ended December 31, 2020 and 2021, the Group recognized US $82.2 million and nil impairment charges on loans to and interest receivable from other related parties due to their unsatisfied financial performance and decline in forecasted revenues, respectively. 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 business. For the years ended December 31, 2019, 2020 and 2021, advertising and marketing revenues generated from other related parties were US$117.0 million, US$46.5 million and US$70.0 million, value-added services revenues generated from other related parties were US$5.4 million, US$3.4 million and US$3.3 million, and cost and expenses were US$31.2 million, US$48.1 million and US$62.6 million, respectively. As of December 31, 2020 and 2021, other related parties accounted for outstanding balances of net accounts receivable of US$42.5 million and US$55.8 million, accounts payable of US$30.8 million and US$44.3 million, and accrued and other liabilities of US$4.8 million and US$8.3 million, respectively.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
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, 2019, 2020 and 2021, the Group’s total contribution was US$53.3 million, US$51.1 million and US$83.2 million, respectively.

Net Income per Share

Net Income per Share	12 Months Ended
	Dec. 31, 2021
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, 2019, 2020 and 2021, options to purchase ordinary shares and RSUs of 1.0 million, 0.7 million and 1.4 million were recognized as dilutive factors and included in the calculation of diluted net income per share, respectively. For the years ended December 31, 2019, 2020 and 2021, options and RSUs which were anti-dilutive and excluded from the calculation of diluted net income per share were 0.4 million, 0.9 million and 0.4 million, respectively. For each of the years ended December 31, 2019, 2020 and 2021, 6.8 million shares 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, ​ 2019 2020 2021 ​ ​ (In US$ thousands, except per share data) Basic net income per share calculation: ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Weibo’s shareholders ​ ​ 494,675 ​ ​ 313,364 ​ ​ 428,319 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ordinary shares outstanding ​ ​ 225,452 ​ ​ 226,921 ​ ​ 228,814 Basic net income per share attributable to Weibo’s shareholders ​ ​ 2.19 ​ ​ 1.38 ​ ​ 1.87 Diluted net income per share calculation: ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Weibo’s shareholders for calculating diluted net income per share ​ ​ 494,675 ​ ​ 313,364 ​ ​ 428,319 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ordinary shares outstanding ​ ​ 225,452 ​ ​ 226,921 ​ ​ 228,814 Effects of dilutive securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock options ​ ​ 153 ​ ​ 71 ​ ​ 68 Unvested restricted share units ​ ​ 807 ​ ​ 645 ​ ​ 1,324 Shares used in computing diluted net income per share attributable to Weibo’s shareholders ​ ​ 226,412 ​ ​ 227,637 ​ ​ 230,206 Diluted net income per share attributable to Weibo’s shareholders ​ ​ 2.18 ​ ​ 1.38 ​ ​ 1.86 ​

Profit Appropriation and Restri

Profit Appropriation and Restricted Net Assets	12 Months Ended
	Dec. 31, 2021
Profit Appropriation and Restricted Net Assets
Profit Appropriation and Restricted Net Assets	13. 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. 13. Profit Appropriation and Restricted Net Assets (Continued) 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, 2020 and 2021 the Group’s PRC subsidiaries accrued approximately US$127.2 million and US$139.6 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. The amounts restricted for the Group amounted to US$480.7 million, or 13.0% of the Group’s total consolidated net assets as of December 31, 2021.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2021
Fair Value Measurement
Fair Value Measurement	14. 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, 2020 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Market ​ Significant Other ​ Significant ​ ​ ​ ​ ​ for Identical Assets ​ Observable Inputs ​ Unobservable Inputs ​ ​ Total ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ ​ (In US$ thousands) As of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Wealth management products, short-term (1) ​ ​ 166,168 ​ ​ — ​ ​ 166,168 ​ ​ — Equity securities with readily determinable market value (3) ​ ​ 289,221 ​ ​ 289,221 ​ ​ — ​ ​ — Total ​ ​ 455,389 ​ ​ 289,221 ​ ​ 166,168 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Wealth management products, short-term (1) ​ ​ 107,224 ​ ​ — ​ ​ 107,224 ​ ​ — Wealth management products, long-term (2) ​ ​ 50,159 ​ ​ — ​ ​ — ​ ​ 50,159 Equity securities with readily determinable market value (3) ​ ​ 436,152 ​ ​ 436,152 ​ ​ — ​ ​ — Total ​ ​ 593,535 ​ ​ 436,152 ​ ​ 107,224 ​ ​ 50,159 (1) Included in short-term investments on the Group’s consolidated balance sheets. (2) Included in other non-current assets on the Group’s consolidated balance sheets. (3) 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 at fair value 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). For the year ended December 31, 2021, US$ 109.5 million investment in certain wealth management products was transferred from Level 2 to Level 3 as market approach was applied with significant unobservable inputs, such as lack of marketability discount and price-to-book ratio. US$ 59.3 million fair value change loss was recognized since the transfer and the balance as of December 31, 2021 was US$ 50.2 million. 14. Fair Value Measurement (Continued) Non-recurring For those equity investments without readily determinable fair value, the Group measures them at market value when observable price changes are identified or impairment charges are recognized. The market 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 period then ended. For the years ended December 31, 2019, 2020 and 2021, US$230.9 million, US$126.8 million and US$106.8 million impairment charges were recorded for those equity investments without readily determinable fair values. As of December 31, 2020 and 2021, the carrying value of these impaired investments measured at Level 3 inputs were US$89.5 million and US$14.5 million, respectively. The fair value of the privately held investments was measured either based on discounted cash flow market interest rates 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 no impairment charge of goodwill arising from previous acquisitions for the years ended December 31, 2019, 2020 and 2021, 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

Convertible Debt and Unsecured Senior Notes	12 Months Ended
	Dec. 31, 2021
Convertible Debt and Unsecured Senior Notes
Convertible Debt and Unsecured Senior Notes	15. Convertible Debt and Unsecured Senior Notes In October 2017, the Company issued US$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 US$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 US$879.3 million, net of issuance cost of US$20.7 million. The Company pays 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 US$15.4 million for each of the three years ended December 31, 2019, 2020 and 2021. 15. Convertible Debt and Unsecured Senior Notes (Continued) In July 2019, the Company issued US$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 US$793.3 million, net of issuance cost of US$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 US$14.5 million, US$29.3 million and US$29.3 million for the years ended December 31, 2019, 2020 and 2021, respectively. ​ In July 2020, the Company issued US$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 US$740.3 million, net of issuance cost of US$9.7 million. The issuance costs of the 2030 Notes are being amortized to interest expenses over the contractual life. For the years ended December 31, 2020 and 2021, the Group recognized US$12.7 million and US$26.3 million interest expenses from the 2030 Notes, respectively. ​

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies
Commitments and Contingencies	16. 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, 2019, 2020 and 2021, the Group recorded US$11.5 million, US$12.5 million and US$17.7 million lease expense, respectively. Based on the current rental lease agreements, future minimum lease payments commitments as of December 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than One ​ One to ​ Three to ​ More than Operating lease commitments Total Year Three Years Five Years Five Years ​ ​ (In US$ thousands) As of December 31, 2021 ​ ​ 86,947 ​ ​ 11,271 ​ ​ 21,190 ​ ​ 20,175 ​ ​ 34,311 ​ Purchase commitments mainly include minimum commitments for marketing activities and internet connection. Purchase commitments as of December 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than One ​ One to ​ Three to ​ More than Purchase commitments Total Year Three Years Five Years Five Years ​ ​ (In US$ thousands) As of December 31, 2021 ​ ​ 619,928 ​ ​ 588,882 ​ ​ 28,653 ​ ​ 2,268 ​ ​ 125 ​ 2022 Notes represent the future maximum commitments relating to the principal amount and interests in connection with the issuance of US$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 US $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 US$750 million in aggregate principal amount of unsecured senior notes bearing an annual interest rate of 3.375%, which will mature on July 8, 2030. Other commitments as of December 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than One ​ One to ​ Three to ​ More than Other commitments Total Year Three Years Five Years Five Years ​ ​ (In US$ thousands) 2022 Notes ​ ​ 911,242 ​ ​ 911,242 ​ ​ — ​ ​ — ​ ​ — 2024 Notes ​ ​ 884,000 ​ ​ 28,000 ​ ​ 856,000 ​ ​ — ​ ​ — 2030 Notes ​ ​ 977,812 ​ ​ 25,312 ​ ​ 50,625 ​ ​ 50,625 ​ ​ 851,250 Total ​ ​ 2,773,054 ​ ​ 964,554 ​ ​ 906,625 ​ ​ 50,625 ​ ​ 851,250 ​ ​ 16. Commitments and Contingencies (Continued) 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 Inte

Redeemable Non-controlling Interests	12 Months Ended
	Dec. 31, 2021
Redeemable Non-controlling Interests
Redeemable Non-controlling Interests	17. 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 Shanghai Jiamian Information Technology Co., Ltd. to acquire the majority of the company’s equity interest. The Group agreed to redeem the non-controlling interests held by founders 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. ​ The process of adjusting redeemable non-controlling interests to its redemption value (the “Mezzanine Adjustment”) should be performed after attribution of the subsidiary’s net income or loss pursuant to ASC 810, Consolidation. The carrying amount of redeemable non-controlling interests will equal the higher of the amount resulting from application of ASC 810 or the amount resulting from the Mezzanine Adjustment. As the expected redemption value is less than the carrying value of redeemable non-controlling interests, there is nil mezzanine adjustment recognized for the year ended December 31, 2021. ​ Pursuant to the agreements between the Group and the founders who are also employees of JM Tech, the founders are required to be in employment during the following two years till December 31, 2022 to be entitled to their proportionate share in JM Tech’s existing and future retained earnings during the period. Such entitlement will automatically be forfeited upon the termination of their employment during the period. The Company considered this arrangement as certain economic interests associated with the founders’ non-controlling interest in JM Tech till December 31, 2022. Therefore, the Company recognized compensation costs for the founders’ share of JM Tech’s retained earnings with the credit increasing non-controlling interest and redeemable non-controlling interest. During the year ended December 31, 2021, US$23.2 million compensation costs were recognized, of which US$20.0 million was recorded to increase redeemable non-controlling interest.

Secondary Listing in Hong Kong

Secondary Listing in Hong Kong	12 Months Ended
	Dec. 31, 2021
Secondary Listing in Hong Kong
Secondary Listing in Hong Kong	18. Secondary Listing in Hong Kong ​ On December 8, 2021, the Company completed its global offering and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEX”). Weibo offered 5,500,000 Class A ordinary shares of the Company and Sina Corporation (the “Selling Shareholder”) offered 5,500,000 Class A ordinary shares of the Company, which were converted from the same number of Class B ordinary shares of the Company prior to the listing of Weibo’s Class A ordinary shares on the HKEX. Net proceeds from the global offering, after deducting estimated underwriting fees and other offering expenses, were US$178.4 million. The Company did not receive any proceeds from the sale of the Class A ordinary shares offered by the Selling Shareholder. ​ 18. Secondary Listing in Hong Kong (Continued) In addition, the Selling Shareholder granted an over-allotment option to the underwriters, to require the Selling Shareholder to sell up to an aggregate of 1,650,000 additional Class A ordinary shares of the Company (converted from the same number of Class B ordinary shares). The Selling Shareholder sold 1,453,620 shares to the underwriters for the option granted. The underwriters has borrowed 1,650,000 shares, which were included in the Company’s total outstanding shares as of December 31, 2021, from WB HZGS Estate (Hong Kong) Limited (a wholly-owned subsidiary of Weibo) to facilitate the settlement of over-allocations. As the date of this report, the borrowed shares has been returned to WB HZGS Estate (Hong Kong) Limited.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2021
Subsequent events
Subsequent events	19. Subsequent events ​ From December 31, 2021 to the date of publication of this report, there was no subsequent event which had a material impact on the Group.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Basis of presentation	Basis of presentation The preparation of the Group’s consolidated financial statements is in conformity with U.S. GAAP. The consolidated financial statements include the accounts of Weibo, its wholly owned subsidiaries, VIEs, and VIEs’ subsidiaries. All significant intercompany balances and transactions have been eliminated.
Use of estimates	Use of estimates Conformity with U.S. GAAP requires the use of estimates and judgments that affect the reported amounts in the consolidated financial statements and accompanying notes. These estimates form the basis for judgments the management makes about the carrying values of the assets and liabilities, which are not readily apparent from other sources. U.S. GAAP requires making estimates and judgments in several areas, including, but not limited to, the basis of consolidation, revenue recognition, fair value accounting, income taxes, long-term investments, goodwill and other long-lived assets, allowances for credit losses, stock-based compensation, the estimated useful lives of assets, convertible debt, business combination, and foreign currency. The management bases the estimates and judgments on historical information and on various other assumptions that management believes are reasonable under the circumstances. Actual results could differ materially from such estimates. ​
Revenue recognition	Revenue recognition Under ASC 606, revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those goods or services. The Group identifies its contracts with customers and all performance obligations within those contracts. The Group then determines the transaction price and allocates the transaction price to the performance obligations within the Group’s contracts with customers, recognizing revenue when, or as, the Group satisfies its performance obligations. The Group does not believe that significant management judgments are involved in revenue recognition, but the amount and timing of the Group’s revenues could be different for any period if management made different judgments. Certain customers may receive sales rebates, which are accounted for as variable consideration. The Group estimates annual expected revenue volume of each individual agent with reference to their historical results. The Group recognizes revenue for the amount of fees it receives from its advertisers, after deducting estimated sales rebates and net of value-added tax (“VAT”) under ASC 606. The Group believes that there will not be significant changes to its estimates of variable consideration. Revenue disaggregated by revenue source for the years ended December 31, 2019, 2020 and 2021 consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Advertising and marketing revenues ​ 1,530,211 ​ 1,486,155 ​ 1,980,795 Value-added services revenues ​ ​ 236,703 ​ ​ 203,776 ​ ​ 276,288 Total revenues ​ 1,766,914 ​ 1,689,931 ​ 2,257,083 ​ The Group enters into contracts with its customers, which may give rise to contract assets (unbilled revenue) or contract liabilities (deferred revenue). The payment terms and conditions within the Group’s contracts vary by the type and location of its customers and products or services purchased, the substantial majority of which are due in less than one year. Deferred revenues related to unsatisfied performance obligations at the end of the period are mainly from the customer advance of the advertising and marketing services and the sales of the fee-based services, such as VIP membership, live streaming, and virtual currency or in-game virtual items sold for game related services. The deferred revenues are recognized based on customers’ consumption or amortized on a straight-line basis through the service period for different products/services. Due to the generally short-term duration of the contracts, the majority of the performance obligations are satisfied in the following reporting period. The amount of revenue recognized that was included in the deferred revenue balance at the beginning of the period was US$88.3 million, US$91.5 million and US$126.5 million for the years ended December 31, 2019, 2020 and 2021, respectively. ​ 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. 2. Significant Accounting Policies (Continued) Revenue recognition (Continued) Advertising and marketing revenues Advertising and marketing revenues are derived principally from online advertising, including social display ads and promoted marketing. Social display ad arrangements allow customers to place advertisements on particular areas of the Group’s platform or website in particular formats and over particular periods of time, which is typically no more than three months. The Group enters into cost per mille (“CPM”), or cost per thousand impressions, advertising arrangements with the customers, under which the Group recognizes revenues based on the number of times that the advertisement has been displayed. The Group also enters into cost per day (“CPD”) advertising arrangements with customers, under which the Group recognizes revenues ratably over the contract periods. Promoted marketing arrangements are primarily priced based on CPM. Under the CPM model, customers are obligated to pay when the advertisement is displayed. The Group’s majority revenue transactions are based on standard business terms and conditions, which are recognized net of agency rebates. The agency rebates are accounted for as variable consideration and are estimated during interim periods based on estimated annual revenue volume of each individual agent with reference to their historical results, which involves accounting judgment. The Group believes its estimation approach in variable consideration results in revenue recognition in a manner consistent with the underlying economics of the transaction. The Group’s contracts with customers may include multiple performance obligations, which primarily consist of combinations of service to allow customers to place advertisements on different areas of its platform or website. For such arrangements, advertising arrangements involving multiple deliverables are broken down into single-element arrangements based on their stand-alone selling price for revenue recognition purposes. The estimation of stand-alone selling price involves significant judgment, especially for the deliverables that have not been sold separately. For those deliverables, the Group determines best estimate of the stand-alone selling price by taking into consideration of the pricing of advertising areas of the Group’s platform or website with similar popularities and advertisements with similar formats and quoted prices from competitors and other market conditions. The Group believes the estimation approach in stand-alone selling price and allocation of the transaction price on a relative stand-alone selling price to each performance obligation results in revenue recognition in a manner consistent with the underlying economics of the transaction and the allocation principle included in ASC 606. Revenues recognized with reference to best estimation of selling price were immaterial for all periods presented. Most of such contracts have all performance obligations completed within one year. Changes in judgments on these assumptions and estimates could materially impact the timing or amount of revenue recognition. Contracts with customers of online advertising may require cooperation from third parties. The Group pays a predetermined portion of revenues earned from advertising contracts to the third parties such as key opinion leaders who participate in advertising and promotion activities by monetizing their social assets. The Group has determined that it is the principal in these transactions, as it has primary responsibility for fulfilling all the obligations related to advertising contracts. The Group has discretion in establishing pricing of the contracts and controls the advertising inventory before the delivery to customers. The Group records revenues derived from such contracts on a gross basis and the portion paid to the third parties is recognized as cost of revenues. Revenues from barter transactions are recognized during the period in which the advertisements are displayed on the Group’s properties. Barter transactions in which physical goods or services are received in exchange for advertising services are recorded based on the fair values of the goods or services received. Value-added services revenues The Group generates value-added services revenues principally from fee-based services, mainly including VIP membership, live streaming, and game-related services. Other value-added services revenues mainly include the revenues from the provision of traffic acquisition services to various customers. Revenues from these services are recognized when control of the promised services is transferred to customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those services. VIP membership. 2. Significant Accounting Policies (Continued) ​ Revenue recognition (Continued) ​ Live streaming. The Group designs, creates and offers various virtual items for sales to users with pre-determined selling prices. Each virtual item is considered as a distinctive performance obligation. Sales proceeds are recorded as deferred revenue and recognized as revenue based on the consumption of the virtual items. Users can purchase and present virtual items to broadcasters to show support for their favorite ones. Under the arrangements with broadcasters or broadcaster agencies, the Group shares with them a portion of the revenues derived from the consumption of virtual items. Revenues derived from the sale of virtual items are recorded on a gross basis as the Group has determined that it acts as the principal to fulfill all obligations related to the live streaming services. The portion paid to broadcasters and/or broadcaster agencies is recognized as cost of revenues. The Group does not have further obligations to the user after the virtual items are consumed. Game-related services.
Cost of revenues	Cost of revenues Cost of revenues consists mainly of costs associated with the maintenance of platform, which primarily include bandwidth and other infrastructure costs, revenue-share cost, advertisement production cost, labor cost and turnover taxes levied on the revenues, part of which were allocated from SINA. The Group is subject to 3% cultural business construction fees for its advertising and marketing revenues, which is included in cost of revenues. Starting from July 1 2019, the 3% cultural business construction fees was reduced to 1.5%. Moreover, as part of the measures taken by the government to ease the negative impact from Covid-19 pandemic, the cultural business construction fees were exempted for the fiscal years of 2020 and 2021. An aggregate of US$24.6 million and US$28.7 million cultural business construction fees was exempted for the years ended December 31, 2020 and 2021,respectively.
Sales and marketing expenses	Sales and marketing expenses Sales and marketing expenses consist mainly of online and offline advertising and promotional expenses, salary, benefits and commission expenses, and facility expenses. Advertising and promotional expenses generally represent the expenses of promotions of corporate image and product marketing. The Group expenses all advertising and promotional expenses as incurred and classifies these expenses under sales and marketing expenses. Pursuant to the adoption of ASC 606, the recognition of revenues and expenses at fair value for advertising barter transactions has resulted in an increase of revenue and advertising expenses. For the years ended December 31, 2019, 2020 and 2021, the advertising and promotional expenses were US$352.3 million, US$330.9 million and US$418.0 million, respectively.
Product development expenses	Product development expenses Product development expenses consist mainly of payroll-related expenses and infrastructure costs incurred for enhancement to and maintenance of the Group’s platform, as well as costs associated with new product development and product enhancements, part of which were allocated from SINA. The Group expenses all costs incurred for the planning, post implementation phases of development and costs associated with repair or maintenance of the existing site or the development of platform content. Since inception, the amount of costs qualifying for capitalization has been immaterial and, as a result, all product development costs have been expensed as incurred.
Stock-based compensation	Stock-based compensation All stock-based awards to employees and directors, such as stock options and restricted share units (“RSUs”), are measured at the grant date based on the fair value of the awards. Stock-based compensation, net of forfeitures, is recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. The Group uses the Black-Scholes option pricing model to estimate the fair value of stock options. The determination of estimated fair value of stock-based payment awards on the grant date using an option pricing model is affected by the fair value of the Company’s ordinary shares as well as assumptions regarding a number of complex and subjective variables. These variables include the expected value volatility of the Company over the expected term of the awards, actual and projected employee stock option exercise behaviors, a risk-free interest rate and expected dividends, if any. Options granted generally vest over four years. The Group recognizes the estimated compensation cost of restricted share units based on the fair value of its ordinary shares on the date of the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term of generally four years for service-based restricted share units. The Group also recognizes the compensation cost of performance-based restricted share units, net of estimated forfeitures, if it is probable that the performance condition will be achieved at the end of each reporting period. Forfeitures are estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. The Group uses historical data to estimate pre-vesting option and records stock-based compensation expense only for those awards that are expected to vest. See Note 7 Stock-based Compensation
Taxation	Taxation Income taxes Uncertain tax positions.
Short-term investments	Short-term investments Short-term investments represent bank time deposits and wealth management products which are certain deposits with variable interest rates or principal not-guaranteed with certain financial institutions. Their original maturities are of greater than three months but less than one year. In accordance with ASC 825, Financial Instruments
Credit losses	Credit losses In 2016, the FASB issued ASC Topic 326, which amends previously issued guidance regarding the impairment of financial instruments by creating an impairment model that is based on expected losses. The guidance is applicable to accounts receivable and the Group adopted ASC Topic 326 on January 1, 2020. Accounts receivable are recorded at the original amounts less an allowance for any potential uncollectible amounts. The Group makes estimates of expected credit and collectability trends for the allowance for credit losses based upon assessment of various factors, including historical experience, the age of the accounts receivable balances, credit-worthiness of the customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from the customers. The Group also provides specific provisions for allowance when facts and circumstances indicate that the receivable is unlikely to be collected. Expected credit losses for accounts receivable are recorded as general and administrative expenses on the consolidated statements of comprehensive income. The initial impact of applying ASC Topic 326 on the consolidated financial statements is immaterial to the Group’s retained earnings as of January 1, 2020. ASC Topic 326 is also applicable to the loans to and interest receivable from other related parties included in the prepaid expenses and other current assets and other non-current assests on the consolidated balance sheets. Management estimates the allowance for credit losses on loans and interest receivable not sharing similar risk and other non-current assets characteristic on an individual basis. The key factors considered when determining the above allowances for credit losses include estimated loan collection schedule, discount rate, financial condition and performance data of the borrowers and the cash flow forecasts considering current and future economic conditions.
Fair value measurements	Fair value measurements Financial instruments All financial assets and liabilities are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The Group measures the equity method investments at fair value on a non-recurring basis only if an impairment charge were to be recognized. For those investments without readily determinable fair value, the Group measures them at fair value when observable price changes are identified or impairment charge was 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 fair values of the Group’s long-term investments in the equity securities of publicly listed companies are measured using quoted market prices. 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 are determined to be impaired. Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value: ● Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. ● Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. ● 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. 2. Significant Accounting Policies (Continued) ​ Fair value measurements (Continued) ​ 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. See Note 14 Fair Value Measurement
Long-term investments	Long-term investments Long-term investments are comprised of investments in publicly traded companies, privately held companies, and limited partnerships. The Group uses the equity method to account for ordinary-share-equivalent equity investments on which it has significant influence but does not own a majority equity interest or otherwise control. The Group measures investments in equity securities, other than equity method investments, at fair value through earnings. For those investments without readily determinable fair values, the Group elects to record these investments at cost, less impairment, plus or minus subsequent adjustments for observable price changes (referred to as the measurement alternative). Under this measurement alternative, changes in the carrying value of the investments will be recognized in consolidated statement of comprehensive income, whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. Pursuant to ASC 321, for equity investments measured at fair value with changes in fair value recorded in earnings, the Group does not assess whether those securities are impaired. For equity investments without readily determinable fair value for which the Group has elected to use the measurement alternative, the Group makes a qualitative assessment of whether the investment is impaired at each reporting date, applying significant judgement in considering various factors and events including a) adverse performance of investees; b) adverse industry developments affecting investees; and c) adverse regulatory, social, economic or other developments affecting investees. If a qualitative assessment indicates that the investment is impaired, the Group estimates the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Group recognizes an impairment loss in net income equal to the difference between the carrying value and fair value. Significant judgement is applied by the Group in estimating the fair value to determine if an impairment exists, and if so, to measure the impairment losses for these equity security investments. These judgements include the selection of valuation methods in estimating fair value and the determination of key valuation assumptions used, including cash flow forecasts and critical assumptions used in cash flow forecasts, such as the investees’ revenue growth rate, terminal growth rate, discount rate, selection of comparable companies and multiples, estimated volatility rate and discount for lack of marketability. Investments in entities which the Group can exercise significant influence and holds an investment in voting common shares or in-substance common shares (or both) of the investee but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC topic 323 (“ASC 323”), Investment — Equity Method and Joint Ventures. Under the equity method, the Group initially records its investments at cost and the difference between the cost of the equity investee and the fair value of the underlying equity in the net assets of the equity investee is recognized as equity method goodwill, which is included in the equity method investment on the consolidated balance sheets. The Group subsequently adjusts the carrying amount of the investments to recognize the Group’s proportionate share of each equity investee’s net income or loss into earnings after the date of investment. The Group evaluates the equity method investments for impairment under ASC 323. An impairment loss on the equity method investments is recognized in earnings when the decline in value is determined to be other-than-temporary. In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force). The amendments in this update clarify the interaction of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. The Group adopted the ASU on January 1, 2021, which did not have a material impact on the consolidated financial statements.
Business combination	Business combination Business combinations are recorded using the purchase method of accounting, and the cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date. The costs directly attributable to the acquisition are expensed as incurred. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of the (i) the total of consideration paid, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the subsidiary acquired over (ii) the fair value of the identifiable net assets of the subsidiary acquired is recorded as goodwill. If the consideration of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income.
Leases	Leases On January 1, 2019, the Group adopted ASU No. 2016-02, “Leases (Topic 842)”, which requires a lessee to recognize a liability to make lease payments (the Lease Liability) and corresponding right-of-use assets (the Operating Lease Assets), arising from operating leases, on balance sheet, representing its right to use the underlying asset for the lease term. The Group adopted the new lease standard using the transition method by applying the standard to all leases existing at the date of initial application. The adoption of new leasing guidance resulted in recognition of US$14.4 million of operating lease assets and US$14.9 million of leasing liabilities as of January 1, 2019, respectively, and no impact to the beginning retained earnings of the year. The Group chose to not recognize lease assets and lease liabilities for leases with a term of twelve months or less, to not separate non-lease components from lease components, and to not reassess lease classification, treatment of initial direct costs or whether an existing or expired contract contains a lease according to the practical expedients permitted under the transition method. The Group determines if an arrangement is or contains a lease at inception. Right-of-use assets and liabilities are recognized at lease commencement date based on the present value of remaining lease payments over the lease terms. The Group considers only payments that are fixed and determinable at the time of lease commencement.
Long-lived assets	Long-lived assets Property and equipment Property and equipment are stated at cost less accumulated depreciation, amortization and impairment, if any. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally from three 2. Significant Accounting Policies (Continued) Long-lived assets (Continued) Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of the Group’s acquisitions of interests in its subsidiaries, consolidated VIEs and VIEs’ subsidiaries. The Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20 (“ASC 350-20”), Intangibles - Goodwill and Other: Goodwill Intangible assets other than goodwill Intangible assets arising from acquisitions are recognized at fair value upon acquisition and amortized on a straight-line basis over their estimated useful lives, generally from three
Convertible debt and unsecured senior notes	Convertible debt and unsecured senior notes The Group determines the appropriate accounting treatment of its convertible debt in accordance with the terms in relation to the conversion feature. After considering the impact of such features, the Group may account for such instrument as a liability in its entirety, or separate the instrument into debt and equity components following the respective guidance described under ASC 815 Derivatives and Hedging Debt The debt discount, if any, together with related issuance cost are subsequently amortized as interest expense over the contractual life. The Group presented the issuance costs of debt as a direct deduction from the related debt during the periods presented. The unsecured senior notes are recognized initially at fair value, net of debt discounts or premiums, if any, issuance costs and other incidental fees, all of which are recorded as a direct deduction of the proceeds received from issuing the unsecured senior notes and the related accretion is recorded as interest expense in the consolidated statement of comprehensive income over the estimated term using the effective interest method.
Deferred revenues	Deferred revenues Deferred revenues consist of contractual billings in excess of recognized revenue and payments received in advance of revenue recognition, which are mainly from the customer advance of the advertising and marketing services and the sales of the fee-based services, such as VIP membership, live streaming, and virtual currency or in-game virtual items sold for game related services.
Non-controlling interests	Non-controlling interests For the Company’s majority-owned subsidiaries and VIE, non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. To reflect the economic interest held by non-controlling shareholders, net income/loss attributable to the non-controlling ordinary shareholders is recorded as non-controlling interests in the Company’s consolidated statements of comprehensive income. Non-controlling interests are classified as a separate line item in the equity section of the Company’s consolidated balance sheets and have been separately disclosed in the Company’s consolidated financial statements to distinguish the interests from that of the Company.
Foreign currency	Foreign currency The Company’s reporting currency and functional currency is the U.S. dollar. The Group’s operations in China and in international regions use their respective currencies as their functional currencies. The financial statements of these subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities and average rates of exchange in the period for revenues, costs and expenses. Translation gains and losses are recorded in accumulated other comprehensive income (loss) as a component of shareholders’ equity. Translation gains or losses are not released to net income unless the associated net investment has been sold, liquidated, or substantially liquidated. Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rate prevailing on the transactions dates. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in other income, net. Foreign currency translation adjustments included in the Group’s consolidated statements of comprehensive income for the years ended December 31, 2019, 2020 and 2021 were a loss of US$19.0 million, a gain of US$148.5 million and a gain of US$78.2 million, respectively. Net foreign currency transaction gains or losses arise from transacting in a currency other than the functional currency of the entity and the amounts recorded were immaterial for each of the periods presented.
Net Income per share	Net income per share Basic net income per share is computed using the weighted average number of ordinary shares outstanding during the period. Options and RSUs are not considered outstanding in the computation of basic earnings per share. Diluted net income per share is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period, which include options to purchase ordinary shares, restricted share units and conversion of the convertible debt. The computation of diluted net income per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net income per share. The Group uses the two-class method to calculate net income per share though both classes share the same rights in dividends. Therefore, basic and diluted earnings per share are the same for both classes of ordinary shares.
Segment reporting	Segment reporting In accordance with ASC 280, Segment Reporting
Concentration of risks	Concentration of risks Concentration of credit risk. As of December 31, 2020 and 2021, the Group had US$3.0 billion and US$2.5 billion, respectively, in cash and bank time deposits (with terms generally up to twelve months) with large domestic banks in China. China promulgated a Bankruptcy Law that came into effect on June 1, 2007, which contains a separate article expressly stating that the State Council may promulgate implementation measures for the bankruptcy of Chinese banks based on the Bankruptcy Law. Under the Bankruptcy Law, a Chinese bank may go bankrupt. In addition, since China’s concession to WTO, foreign banks have been gradually permitted to operate in China and have become significant competitors to Chinese banks in many aspects, especially since the opening of RMB business to foreign banks in late 2006. Therefore, the risk of bankruptcy on Chinese banks in which the Group holds cash and bank deposits has increased. In the event that a Chinese bank that holds the Group’s deposits goes bankrupt, the Group is unlikely to claim its deposits back in full, since it is unlikely to be classified as a secured creditor to the bank under the PRC laws. Alibaba, as an advertiser, accounted for 6%, 9% and 6% of the Group’s total revenues for the years ended December 31, 2019, 2020 and 2021, respectively. No customer nor advertising agency accounted for 10% or more of the Group’s revenues. The Group’s top 10 advertising agencies contributed to 28%, 32% and 35% of the Group’s revenues for the years ended December 31, 2019, 2020 and 2021, respectively. As of December 31, 2020 and 2021, substantially all accounts receivable were derived from the Group’s China operations. Excluding accounts receivable due from Alibaba and other related parties, accounts receivable primarily consist of amounts due from advertising agencies and direct customers. Alibaba accounted for 28% and 12% of the Group’s net accounts receivable as of December 31, 2020 and 2021, respectively. Concentration of foreign currency risks.
Recent accounting pronouncements	Recent accounting pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (ASU 2020-06), which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. The amendments are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years, with early adoption permitted. The Group is currently evaluating the impact of the new guidance on our consolidated financial statements. In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. The Group is currently evaluating the impact of the new guidance on our consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), which clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with Topic 606, Revenue from Contracts with Customers The new amendments are effective for us are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The amendments should be applied prospectively to business combinations occurring on or after the effective date of the amendments, with early adoption permitted. The Group is currently evaluating the impact of the new guidance on our consolidated financial statements.

Operations (Tables)

Operations (Tables)	12 Months Ended
	Dec. 31, 2021
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 % ​ ​ ​ ​ ​ ​ ​ ​ Hangzhou Weishichangmeng Advertising Co., Ltd. (“Weishichangmeng”) ​ September 25,2018 ​ PRC ​ 100 % Major VIEs ​ ​ ​ ​ ​ ​ ​ Beijing Weimeng Technology Co., Ltd (“Weimeng”) August 9, 2010 PRC 99 % ​ ​ ​ ​ ​ ​ ​ ​ Beijing Weimeng Chuangke Investment Management Co., Ltd. (“Weimeng Chuangke”) ​ April 9, 2014 ​ PRC ​ 100 % ​ ​ ​ ​ ​ ​ ​ ​ Major VIEs’ subsidiary ​ ​ ​ ​ ​ ​ ​ Beijing Weibo Interactive Internet Technology Co., Ltd. (“Weibo Interactive”) ​ Acquired in May 2013 ​ PRC ​ 100 %
Schedule of total cost and expenses allocated from SINA	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Cost of revenues ​ ​ 22,246 ​ ​ 19,462 ​ ​ 14,749 Sales and marketing ​ ​ 9,770 ​ ​ 5,966 ​ ​ 3,319 Product development ​ 13,141 ​ 10,505 ​ ​ 10,083 General and administrative ​ 6,691 ​ 7,078 ​ 10,119 ​ ​ ​ 51,848 ​ ​ 43,011 ​ ​ 38,270
Schedule of assets, liabilities, results of operations and cash flows of the VIE and the VIE's subsidiaries taken as a whole.	The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs and VIEs’ subsidiaries taken as a whole, which are included in the Group’s consolidated balance sheets and consolidated statements of comprehensive income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 2021 ​ ​ (In US$ thousands) Cash and cash equivalents ​ ​ 274,003 ​ ​ 183,543 Short-term investments ​ ​ 171,207 ​ ​ 110,472 Accounts receivable ​ 431,022 ​ 650,278 Prepaid expenses and other current assets ​ ​ 55,653 ​ ​ 160,722 Amount due from SINA ​ ​ 31,142 ​ ​ 36,211 Property and equipment, net ​ 692 ​ 1,812 Operating lease assets ​ ​ 1,783 ​ ​ 28,049 Intangible assets, net ​ 146,976 ​ 166,930 Goodwill ​ 61,712 ​ 130,405 Long-term investments ​ ​ 394,745 ​ ​ 439,922 Other non-current assets ​ ​ 15,615 ​ ​ 352,008 Total assets ​ ​ 1,584,550 ​ ​ 2,260,352 ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ ​ 83,336 ​ ​ 129,498 Accrued and other liabilities ​ ​ 341,552 ​ ​ 480,866 Income taxes payable ​ ​ 26,417 ​ ​ 41,882 Deferred revenues ​ 85,846 ​ 57,348 Amount due to the subsidiaries of the Group ​ ​ 968,138 ​ ​ 1,462,242 Operating lease liability ​ ​ 1,704 ​ ​ 28,022 Deferred tax liability ​ ​ 32,418 ​ ​ 39,637 Other non-current liabilities ​ ​ 2,102 ​ ​ 15,122 Total liabilities ​ ​ 1,541,513 ​ ​ 2,254,617 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 ​ 2020 2021 ​ ​ (In US$ thousands) Net revenues ​ ​ 1,472,867 ​ ​ 1,319,080 ​ ​ 1,821,294 Net income (loss) after intercompany service fee charge ​ ​ 9,874 ​ ​ (129,126) ​ ​ (36,406) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Net cash provided by (used in) operating activities * ​ ​ (100,987) ​ ​ 157,262 ​ ​ 481,541 Net cash used in investing activities ​ ​ (280,404) ​ ​ (272,958) ​ ​ (583,397) Net cash provided by financing activities ​ ​ 441,952 ​ ​ 290,234 ​ ​ 11,396 * Net cash provided by operating activities of VIEs and VIEs’ subsidiaries for the year ended December 31, 2020 has been revised to reduce the amount by US $171.2 million to correct an error in previously issued financial statements included in 2020 Form 20-F.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Schedule of revenue disaggregated by revenue source	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Advertising and marketing revenues ​ 1,530,211 ​ 1,486,155 ​ 1,980,795 Value-added services revenues ​ ​ 236,703 ​ ​ 203,776 ​ ​ 276,288 Total revenues ​ 1,766,914 ​ 1,689,931 ​ 2,257,083

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-term Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Cash, Cash Equivalents and Short-term Investments
Schedule of cash, cash equivalents and short-term investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 2021 ​ ​ (In US$ thousands) Cash and cash equivalents: ​ ​ ​ ​ ​ ​ Cash ​ ​ 1,814,844 ​ ​ 2,423,703 Short-term investments: ​ ​ ​ ​ ​ ​ Bank time deposits ​ 1,515,880 ​ 603,838 Wealth management products ​ ​ 166,168 ​ ​ 107,224 Subtotal ​ ​ 1,682,048 ​ ​ 711,062 Total cash, cash equivalents and short-term investments ​ ​ 3,496,892 ​ ​ 3,134,765

Long-term Investments (Tables)

Long-term Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Long-term Investments
Schedule of changes in the Group's long-term investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without Readily ​ ​ ​ ​ Equity Securities With ​ ​ ​ ​ ​ Determinable Fair ​ ​ ​ ​ Readily Determinable ​ ​ ​ ​ Values Equity Method Fair Values Total ​ ​ (In US$ thousands) 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 Investments made/transfers from prepayments ​ ​ 96,768 ​ ​ 182,200 ​ ​ — ​ ​ 278,968 Income from equity method investment, net ​ ​ — ​ ​ 14,217 ​ ​ — ​ ​ 14,217 Dividend received from equity method investments ​ ​ — ​ ​ (11,695) ​ ​ — ​ ​ (11,695) Disposal of investments ​ ​ (75,667) ​ ​ — ​ ​ (4,946) ​ ​ (80,613) Changes from measurement alternative to consolidation (Note 6) ​ ​ (66,415) ​ ​ — ​ ​ — ​ ​ (66,415) Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values ​ ​ (142,000) ​ ​ — ​ ​ 142,000 ​ ​ — Impairment on investments ​ ​ (106,800) ​ ​ — ​ ​ — ​ ​ (106,800) Fair value change through earnings ​ ​ (23,316) ​ ​ — ​ ​ 9,877 ​ ​ (13,439) Currency translation adjustment ​ ​ 7,062 ​ ​ 6,900 ​ ​ — ​ ​ 13,962 Balance at December 31, 2021 ​ ​ 268,716 ​ ​ 502,783 ​ ​ 436,152 ​ ​ 1,207,651
Schedule of the total carrying value of the equity securities accounted for measurement alternative	The following table summarizes the total carrying value of the equity investments accounted for under the measurement alternative as of December 31, 2020 and 2021, respectively, including cumulative upward and downward adjustments made to the initial cost basis of the securities. ​ ​ ​ ​ ​ Cumulative Results ​ ​ (In US$ thousands) 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 ​ ​ ​ ​ Initial cost basis ​ ​ 656,011 Upward adjustments ​ 85,710 Downward adjustments ​ (490,498) Foreign currency translation ​ ​ 17,493 Total carrying value at December 31, 2021 ​ ​ 268,716 ​ ​ ​ ​
Schedule of the carrying amount and fair value of the marketable security	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Cost ​ Unrealized ​ Unrealized ​ Fair ​ Basis Gains Losses Value ​ (In US$ thousands) 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 Showworld ​ ​ 81,385 ​ ​ 205,659 ​ ​ — ​ ​ 287,044 Didi ​ ​ 142,000 ​ ​ 7,108 ​ ​ — ​ ​ 149,108 December 31, 2021 ​ ​ 223,385 ​ ​ 212,767 ​ ​ — ​ ​ 436,152

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases
Schedule of components of lease cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 ​ 2021 ​ ​ (In US$ thousands) Operating lease cost ​ ​ 4,693 ​ ​ 4,902 ​ ​ 7,625 Short-term lease cost ​ ​ 2,663 ​ 3,167 ​ ​ 4,776 Variable lease cost ​ ​ 4,172 ​ 4,479 ​ ​ 5,287 Total lease cost ​ ​ 11,528 ​ ​ 12,548 ​ ​ 17,688
Schedule of other information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 ​ 2021 ​ ​ (In US$ thousands) Supplemental Cash Flows Information: ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for operating leases ​ ​ (4,683) ​ ​ (5,522) ​ ​ (8,948) Operating lease assets obtained in exchange for operating lease liabilities ​ ​ 944 ​ ​ 1,675 ​ ​ 65,459
Schedule of maturities of lease liabilities under operating leases	Maturities of lease liabilities under operating leases as of December 31, 2021 were as follows: ​ ​ ​ ​ ​ Year Ended December 31, (In US$ thousands) 2022 ​ ​ 11,271 2023 ​ 10,329 2024 ​ ​ 10,861 2025 ​ ​ 10,413 2026 and thereafter ​ 44,073 Total future payments for recognized leasing assets ​ ​ 86,947 Less: leases not yet commenced ​ ​ 6,520 Less: imputed interest ​ 20,466 Total lease liabilities ​ ​ 59,961 ​

Goodwill, Intangible Assets a_2

Goodwill, Intangible Assets and Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2021
Acquisitions, Goodwill and Intangible Assets
Schedule of the changes in the Group's goodwill by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising & Value-added ​ ​ ​ ​ Marketing ​ services ​ Total ​ ​ (In US$ thousands) 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 Acquisition of the company operating Wuta application ​ ​ 51,034 ​ ​ — ​ ​ 51,034 Acquisition of an E-sports team ​ ​ — ​ ​ 14,745 ​ ​ 14,745 Currency translation adjustment ​ ​ 1,813 ​ ​ 1,101 ​ ​ 2,914 Balance as of December 31, 2021 ​ ​ 83,746 ​ ​ 46,659 ​ ​ 130,405
Table summarizes the Group's intangible assets arising from acquisitions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ As of December 31, 2021 ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ Cost Amortization Net Cost Amortization Net ​ ​ (In US$ thousands) ​ (In US$ thousands) Game related ​ ​ 127,238 ​ ​ (2,199) ​ ​ 125,039 ​ ​ 150,371 ​ ​ (16,649) ​ ​ 133,722 Technology ​ ​ 9,544 ​ ​ (4,417) ​ ​ 5,127 ​ ​ 10,172 ​ ​ (5,494) ​ ​ 4,678 Trademark and Domain name ​ ​ 12,788 ​ ​ (1,542) ​ ​ 11,246 ​ ​ 20,078 ​ ​ (4,458) ​ ​ 15,620 Supplier-relationship ​ ​ 10,253 ​ ​ (4,689) ​ ​ 5,564 ​ ​ 10,538 ​ ​ (6,961) ​ ​ 3,577 Others ​ ​ 2,449 ​ ​ (2,449) ​ ​ — ​ ​ 13,924 ​ ​ (4,591) ​ ​ 9,333 Total ​ ​ 162,272 ​ ​ (15,296) ​ ​ 146,976 ​ ​ 205,083 ​ ​ (38,153) ​ ​ 166,930 ​
Schedule of estimated amortization expenses	​ ​ ​ ​ ​ Year Ended December 31, (In US$ thousands) 2022 ​ ​ 24,662 2023 ​ ​ 23,150 2024 ​ ​ 21,456 2025 ​ ​ 17,620 2026 and thereafter ​ ​ 80,042 Total expected amortization expense ​ ​ 166,930
JM Tech
Acquisitions, Goodwill and Intangible Assets
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 US$ thousands) Consideration ​ 218,590 Redeemable non-controlling interest (Note 17) ​ 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
A mobile app company
Acquisitions, Goodwill and Intangible Assets
Schedule of consideration of acquisition was allocated based on their fair value of the assets acquired and the liabilities assumed	​ ​ ​ ​ ​ ​ As of May 1, 2021 ​ ​ (In US$ thousands) Consideration ​ ​ 39,540 Fair value of previously held equity interest ​ 26,875 Non-controlling interest ​ 10,811 Total ​ ​ 77,226 ​ ​ ​ ​ Cash and short-term investments acquired ​ ​ 5,786 Other assets acquired ​ 6,801 Identifiable intangible assets acquired ​ 16,495 Goodwill ​ 51,034 Liabilities assumed ​ (2,890) Total ​ ​ 77,226
An E-sports team
Acquisitions, Goodwill and Intangible Assets
Schedule of consideration of acquisition was allocated based on their fair value of the assets acquired and the liabilities assumed	​ ​ ​ ​ ​ ​ As of August 1, 2021 ​ ​ (In US$ thousands) Consideration ​ ​ 30,953 ​ ​ ​ ​ Identifiable intangible assets acquired ​ ​ 19,274 Goodwill ​ 14,745 Liabilities assumed ​ (3,066) Total ​ ​ 30,953

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Stock-Based Compensation
Schedule of the stock-based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021* ​ ​ (In US$ thousands) Cost of revenues ​ ​ 5,251 ​ 5,384 ​ 8,112 Sales and marketing ​ ​ 9,828 ​ 9,983 ​ 15,292 Product development ​ ​ 28,628 ​ 33,093 ​ 43,622 General and administrative ​ ​ 17,582 ​ 18,645 ​ 20,970 ​ ​ ​ 61,289 ​ 67,105 ​ 87,996 * Excluded non-cash stock-based compensation of US$7.9 million to SINA employees charged through Amount due from SINA in 2021.
Summary of the number of shares available for issuance	​ ​ ​ ​ ​ Shares Available ​ ​ (In thousands) December 31, 2018 17,293 Addition ​ — Granted* ​ (2,411) Cancelled/expired/forfeited ​ 222 December 31, 2019 15,104 Addition ​ — Granted* ​ (3,040) Cancelled/expired/forfeited ​ 431 December 31, 2020 12,495 Addition ​ — Granted* (5,752) Cancelled/expired/forfeited 692 December 31, 2021 7,435 * For the years ended December 31, 2019, 2020 and 2021, 2.4 million, 2.5 million and 5.8 million restricted share units were granted under the 2014 Plan, respectively. Options of nil , 0.5 million and nil were granted during 2019, 2020 and 2021,respectively .
Summary of option activities under the Company's stock option program	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Options ​ Weighted Average ​ Remaining ​ Aggregate ​ ​ Outstanding ​ Exercise Price ​ Contractual Life ​ Intrinsic Value ​ ​ (In thousands) ​ (In US$) ​ (In years) ​ (In US$ thousands) 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 Granted — ​ ​ — ​ ​ ​ ​ ​ Exercised (105) ​ ​ 12.70 ​ ​ ​ ​ ​ Cancelled/expired/forfeited (59) ​ ​ 32.68 ​ ​ ​ ​ ​ December 31, 2021 387 ​ ​ 32.68 ​ 5.6 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest as of December 31, 2021 351 ​ ​ 32.68 5.6 ​ ​ — Exercisable as of December 31, 2021 82 ​ ​ 32.68 5.6 ​ ​ —
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 US$) ​ (In thousands) ​ ​ (In US$) ​ (In years) As of December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US$ 3.43 - US$3.50 72 ​ ​ 3.50 72 ​ ​ 3.50 0.2 US$32.68 479 ​ ​ 32.68 — ​ ​ — — ​ 551 ​ ​ 28.85 72 ​ ​ 3.50 0.2 As of December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US$32.68 ​ 387 ​ ​ 32.68 ​ 82 ​ ​ 32.68 ​ 5.6
Performance-Based Restricted Share Units
Stock-Based Compensation
Summary of restricted share unit activities	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ ​ Grant Date ​ ​ Shares Granted ​ Fair Value ​ ​ (In thousands) ​ (In US$) 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 Awarded ​ 15 ​ ​ 54.08 Vested ​ (2) ​ ​ 38.78 Cancelled ​ (19) ​ ​ 40.63 December 31, 2021 11 ​ ​ 54.17
Service-based restricted share units
Stock-Based Compensation
Summary of restricted share unit activities	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average ​ ​ Shares ​ Grant Date ​ ​ Granted ​ Fair Value ​ ​ (In thousands) ​ (In US$) 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 Awarded 5,737 ​ ​ 47.95 Vested ​ (1,608) ​ ​ 45.66 Cancelled ​ (614) ​ ​ 44.02 December 31, 2021 7,839 ​ ​ 45.37

Other Balance Sheet Components

Other Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2021
Other Balance Sheet Components
Schedule of other balance sheet components	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2019 2020 2021 ​ ​ ​ (In US$ thousands) Accounts receivable, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ Due from third parties ​ ​ ​ ​ ​ 343,220 ​ ​ 620,632 Due from Alibaba ​ ​ ​ ​ ​ 135,321 ​ ​ 89,344 Due from other related parties ​ ​ ​ ​ ​ 48,625 ​ ​ 55,763 Total gross amount ​ ​ ​ ​ ​ 527,166 ​ ​ 765,739 Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at the beginning of the year ​ (12,429) ​ ​ (36,594) ​ ​ (35,156) Additional provision charged to expenses, net ​ (38,561) ​ ​ (53,124) ​ ​ (19,702) Write-off ​ ​ 14,396 ​ ​ 54,562 ​ ​ 12,208 Balance at the end of the year ​ (36,594) ​ ​ (35,156) ​ ​ (42,650) ​ ​ ​ ​ ​ ​ 492,010 ​ ​ 723,089 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prepaid expenses and other current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Rental and other deposits ​ ​ ​ ​ ​ 1,186 ​ ​ 1,949 Deductible value-added taxes ​ ​ ​ ​ ​ 598 ​ ​ 3,063 Investment prepayment (1) ​ ​ ​ ​ ​ 15,308 ​ ​ — Loans to and interest receivable from other related parties (2) ​ ​ ​ ​ ​ 158,622 ​ ​ 219,679 Loans to and interest receivable from third parties (2) ​ ​ ​ ​ ​ 41,784 ​ ​ 137,024 Advertising prepayment ​ ​ ​ ​ ​ 18,888 ​ ​ 12,011 Prepayment to outsourced service providers ​ ​ ​ ​ ​ 3,719 ​ ​ 3,776 Amounts deposited by users (3) ​ ​ ​ ​ ​ 45,745 ​ ​ 53,997 Content fees ​ ​ ​ ​ ​ 3,080 ​ ​ 1,695 Others ​ ​ ​ ​ ​ 7,827 ​ ​ 17,532 ​ ​ ​ ​ ​ ​ 296,757 ​ ​ 450,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ Computers and equipment ​ ​ ​ ​ ​ 165,880 ​ ​ 188,476 Leasehold improvements ​ ​ ​ ​ ​ 6,429 ​ ​ 7,331 Furniture and fixtures ​ ​ ​ ​ ​ 2,159 ​ ​ 2,554 Others ​ ​ ​ ​ ​ 5,077 ​ ​ 7,233 Property and equipment, gross ​ ​ ​ ​ ​ 179,545 ​ ​ 205,594 Accumulated depreciation ​ ​ ​ ​ ​ (118,913) ​ ​ (137,198) ​ ​ ​ ​ ​ ​ 60,632 ​ ​ 68,396 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other non-current assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment-related deposits (4) ​ ​ ​ ​ ​ 15,450 ​ ​ 366,067 Loans to and interest receivable from a related party (2) ​ ​ ​ ​ ​ — ​ ​ 480,786 Prepayment for purchase of SINA Plaza (5) ​ ​ ​ ​ ​ — ​ ​ 133,734 Wealth management products, long-term (6) ​ ​ ​ ​ ​ — ​ ​ 50,159 Deferred tax assets ​ ​ ​ ​ ​ 27,020 ​ ​ 40,537 Others ​ ​ ​ ​ ​ 2,126 ​ ​ 11,558 ​ ​ ​ ​ ​ ​ 44,596 ​ ​ 1,082,841 Accrued and other liabilities (7) : ​ ​ ​ ​ ​ ​ ​ ​ ​ Payroll and welfare ​ ​ ​ ​ ​ 126,023 ​ ​ 170,534 Marketing expenses ​ ​ ​ ​ ​ 59,410 ​ ​ 82,471 Sales rebates ​ ​ ​ ​ ​ 222,064 ​ ​ 359,813 Professional fees ​ ​ ​ ​ ​ 3,880 ​ ​ 7,791 VAT and other tax payable ​ ​ ​ ​ ​ 49,971 ​ ​ 53,589 Amounts due to users (3) ​ ​ ​ ​ ​ 45,745 ​ ​ 53,997 Unpaid consideration for acquisition ​ ​ ​ ​ ​ 10,280 ​ ​ 6,293 Unpaid consideration for investment ​ ​ ​ ​ ​ 19,257 ​ ​ 441 Interest payable for convertible debt and unsecured senior notes ​ ​ ​ ​ ​ 923 ​ ​ 27,579 Listing expenses payable ​ ​ ​ ​ ​ — ​ ​ 9,347 Others ​ ​ ​ ​ ​ 19,200 ​ ​ 49,178 ​ ​ ​ ​ ​ ​ 556,753 ​ ​ 821,033 ​ 8. Other Balance Sheet Components (Continued) (1) For the years ended December 31, 2019 and 2020, the Group recognized US $19.1 million and US $1.5 million of impairment charges on investment prepayment (all fully impaired), respectively, due to the deterioration of investees’ operations resulting in their inability to refund the prepayments. No impairment charges on investment prepayment was recorded for the year ended December 31, 2021. (2) Loans to related parties and third parties incurred for the years ended December 31, 2019, 2020 and 2021 were non-trade in nature. (3) Weibo wallet enables users to conduct interest-generation activities on Weibo, such as handing out “red envelopes” and coupons to users and purchase different types of products and services on Weibo, including those offered by the Group, such as marketing services and VIP membership, and those offered by Weibo’s platform partners, such as e-commerce merchandises, financial products and virtual gifts. Amounts deposited by users primarily represent the receivable temporarily held in Weibo’s account on a third party online payment platform for Weibo wallet users. Amounts due to users represent the balances that are payable on demand to Weibo wallet users and therefore are reflected as current liability on the consolidated balance sheets. (4) As of December 31, 2021, investment-related deposits primarily included US$ 77.9 million in a micro loan company and US$ 269.1 million in a game company. These non-current assets will be transferred to long-term investment when the legal procedures are completed. (5) Weibo entered into a letter of intent to purchase the office building (SINA Plaza) from SINA and made a prepayment. As of December 31, 2021, the balance of prepayment for SINA Plaza was US$ 133.7 million. (6) The Group measures wealth management products at fair value. It engaged an independent valuation firm to help the management to determine the fair value of certain wealth management products which were overdue in 2021. US $59.3 million loss for those products was recognized in fair value changes through earnings on investments, net, on the consolidated statements of comprehensive income in 2021. The remaining fair value of those products amounting to US $50.2 million was recorded in other non-current assets as of December 31, 2021. (7) Include amounts due to third parties, employees, related parties (Note 10) and Weibo wallet users.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Taxes
Schedule of income before income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands, except percentage) Income before income tax expenses ​ ​ 602,397 ​ ​ 375,913 ​ ​ 550,718 ​ Less: loss from non-China operations ​ ​ (106,256) ​ ​ (57,031) ​ ​ (232,830) ​ Income from China operations ​ ​ 708,653 ​ ​ 432,944 ​ ​ 783,548 ​ Income tax expense applicable to non-China operations ​ ​ 21,473 ​ ​ 2,852 ​ ​ 1,355 ​ Income tax expense applicable to China operations ​ ​ 88,091 ​ ​ 58,464 ​ ​ 137,486 ​ Total income tax expenses ​ ​ 109,564 ​ ​ 61,316 ​ ​ 138,841 ​ Effective tax rate for China operations ​ 12.4 % ​ 13.5 % ​ 17.5 % Effective tax rate for the Group ​ 18.2 % ​ 16.3 % ​ 25.2 %
Schedule of current and deferred portion of income tax expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ ​ (In US$ thousands) Deferred tax provisions (benefits) ​ ​ 16,839 ​ (15,727) ​ (12,478) Current income tax expenses ​ ​ 92,725 ​ ​ 77,043 ​ ​ 151,319 Income tax expenses ​ ​ 109,564 ​ 61,316 ​ 138,841
Schedule of reconciliation between the statutory EIT rate and the effective tax rate for China operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 Statutory EIT rate 25.0 % 25.0 % 25.0 % Effect on tax holiday and preferential tax treatment (1) ​ (16.1) % (24.1) % (13.1) % Research and development super-deduction ​ (1.4) % (3.5) % (7.5) % Non-deductible expenses and non-taxable income and others (2) ​ 0.4 % (0.6) % 9.2 % Change in valuation allowance 2.4 % 14.9 % 0.7 % Tax rate difference from statutory rate in other jurisdictions ​ 7.9 % 4.6 % 10.9 % Effective tax rate for the Group 18.2 % 16.3 % 25.2 % (1) Included the impact of Weibo Technology’s preferential tax treatment of “key software enterprise” status of 2018 in 2019, and 2019 in 2020, respectively, as well as preferential tax treatment benefited by certain other PRC entities. (2) Included the impact of uncertain tax positions recognized for 2021.
Schedule of significant components of deferred tax assets and liabilities for China operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 2021 ​ ​ (In US$ thousands) Deferred tax assets: ​ ​ ​ ​ ​ ​ Net operating loss carry forwards ​ ​ 8,872 ​ ​ 7,875 Valuation allowance ​ ​ (8,872) ​ ​ (7,875) Depreciation, investment-related impairment, accounts receivable, accrued and other liabilities ​ ​ 107,892 ​ ​ 126,753 Valuation allowance ​ ​ (80,872) ​ ​ (86,216) Net deferred tax assets ​ ​ 27,020 ​ ​ 40,537 ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ Acquired intangible assets ​ ​ 30,999 ​ ​ 36,471 Depreciation ​ ​ 1,435 ​ ​ 1,662 Investment gain ​ ​ 25,496 ​ ​ 28,454 Others ​ ​ 369 ​ ​ 316 Total deferred tax liabilities ​ ​ 58,299 ​ ​ 66,903

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Transactions with SINA ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue billed through SINA ​ ​ 109,949 ​ ​ 41,754 ​ ​ 68,351 Revenue from services provided to SINA ​ ​ 27,274 ​ ​ 20,348 ​ ​ 43,170 Total ​ ​ 137,223 ​ ​ 62,102 ​ ​ 111,521 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Costs and expenses allocated from SINA (1) ​ ​ 51,848 ​ ​ 43,011 ​ ​ 38,270 Interest income on loans to SINA ​ ​ 9,295 ​ ​ 13,458 ​ ​ 17,943 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Transactions with Alibaba ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising and marketing revenues from Alibaba – as an advertiser ​ ​ 97,772 ​ ​ 152,000 ​ ​ 139,561 Advertising and marketing revenues from Alibaba – as an agent ​ ​ — ​ ​ 36,597 ​ ​ 41,680 Services provided by Alibaba ​ ​ 50,205 ​ ​ 52,338 ​ ​ 44,006 (1) 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 US $37.5 million,US $48.3 million and US $48.0 million for other costs and expenses incurred by Weibo but paid by SINA for the years ended December 31, 2019, 2020 and 2021, respectively. During the years ended December 31, 2020 and 2021, Weibo allocated US $9.7 million and US $0.8 million to SINA for costs and expenses related to certain of SINA’s activities for which Weibo made the payments, respectively.
Schedule of related party outstanding balance	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 2021 ​ ​ ​ (In US$ thousands) Amount due from SINA (2) ​ 548,900 ​ 494,200 Accounts receivable due from Alibaba ​ 135,321 ​ 89,344 ​ ​ ​ ​ ​ ​ ​ Loans to and interest receivable (3) (4) ​ ​ ​ ​ ​ ​ - Company A (an investee in e-commerce business) ​ ​ 79,762 ​ ​ — - Company B (an investee providing social and new media marketing services) ​ ​ 21,771 ​ ​ 2,789 - Company C (an investee providing online brokerage services) ​ ​ 41,205 ​ ​ 211,583 - Others ​ ​ 15,884 ​ ​ 5,307 Subtotal (included in prepaid expenses and other current assets) ​ ​ 158,622 ​ ​ 219,679 - Company D (an investee in real estate business) (included in other non-current assets) ​ ​ — ​ ​ 480,786 Total ​ ​ 158,622 ​ ​ 700,465 (2) 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, 2020 and 2021, the amount due from SINA also included loans to and interest receivable from SINA of US $547.9 million and US $479.6 million at an annual interest rate ranging from 1.0% to 4.5% 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 10.0% (interest free for Company B and partial loans to Company D) at both dates. These balances are non-trade in nature. (4) The Group assessed the collectability of outstanding loans at least on annual basis or whenever impairment indicators noted. For the years ended December 31, 2020 and 2021, the Group recognized US $82.2 million and nil impairment charges on loans to and interest receivable from other related parties due to their unsatisfied financial performance and decline in forecasted revenues, respectively.
SINA
Related party transactions
Schedule of significant related party transactions with the Group	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands) Transactions with SINA ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising and marketing revenues ​ ​ 112,974 ​ ​ 48,353 ​ ​ 96,359 Value-added services revenues ​ ​ 24,249 ​ ​ 13,749 ​ ​ 15,162 Total ​ ​ 137,223 ​ ​ 62,102 ​ ​ 111,521

Net Income per Share (Tables)

Net Income per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Net Income per Share
Schedule of basic and diluted net income per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2019 2020 2021 ​ ​ (In US$ thousands, except per share data) Basic net income per share calculation: ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Weibo’s shareholders ​ ​ 494,675 ​ ​ 313,364 ​ ​ 428,319 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ordinary shares outstanding ​ ​ 225,452 ​ ​ 226,921 ​ ​ 228,814 Basic net income per share attributable to Weibo’s shareholders ​ ​ 2.19 ​ ​ 1.38 ​ ​ 1.87 Diluted net income per share calculation: ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Weibo’s shareholders for calculating diluted net income per share ​ ​ 494,675 ​ ​ 313,364 ​ ​ 428,319 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ordinary shares outstanding ​ ​ 225,452 ​ ​ 226,921 ​ ​ 228,814 Effects of dilutive securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock options ​ ​ 153 ​ ​ 71 ​ ​ 68 Unvested restricted share units ​ ​ 807 ​ ​ 645 ​ ​ 1,324 Shares used in computing diluted net income per share attributable to Weibo’s shareholders ​ ​ 226,412 ​ ​ 227,637 ​ ​ 230,206 Diluted net income per share attributable to Weibo’s shareholders ​ ​ 2.18 ​ ​ 1.38 ​ ​ 1.86

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2021
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 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Market ​ Significant Other ​ Significant ​ ​ ​ ​ ​ for Identical Assets ​ Observable Inputs ​ Unobservable Inputs ​ ​ Total ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ ​ (In US$ thousands) As of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Wealth management products, short-term (1) ​ ​ 166,168 ​ ​ — ​ ​ 166,168 ​ ​ — Equity securities with readily determinable market value (3) ​ ​ 289,221 ​ ​ 289,221 ​ ​ — ​ ​ — Total ​ ​ 455,389 ​ ​ 289,221 ​ ​ 166,168 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Wealth management products, short-term (1) ​ ​ 107,224 ​ ​ — ​ ​ 107,224 ​ ​ — Wealth management products, long-term (2) ​ ​ 50,159 ​ ​ — ​ ​ — ​ ​ 50,159 Equity securities with readily determinable market value (3) ​ ​ 436,152 ​ ​ 436,152 ​ ​ — ​ ​ — Total ​ ​ 593,535 ​ ​ 436,152 ​ ​ 107,224 ​ ​ 50,159 (1) Included in short-term investments on the Group’s consolidated balance sheets. (2) Included in other non-current assets on the Group’s consolidated balance sheets. (3) Included in long-term investments on the Group’s consolidated balance sheets.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
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 US$ thousands) As of December 31, 2021 ​ ​ 86,947 ​ ​ 11,271 ​ ​ 21,190 ​ ​ 20,175 ​ ​ 34,311
Schedule of purchase commitments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than One ​ One to ​ Three to ​ More than Purchase commitments Total Year Three Years Five Years Five Years ​ ​ (In US$ thousands) As of December 31, 2021 ​ ​ 619,928 ​ ​ 588,882 ​ ​ 28,653 ​ ​ 2,268 ​ ​ 125
Schedule of other commitments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than One ​ One to ​ Three to ​ More than Other commitments Total Year Three Years Five Years Five Years ​ ​ (In US$ thousands) 2022 Notes ​ ​ 911,242 ​ ​ 911,242 ​ ​ — ​ ​ — ​ ​ — 2024 Notes ​ ​ 884,000 ​ ​ 28,000 ​ ​ 856,000 ​ ​ — ​ ​ — 2030 Notes ​ ​ 977,812 ​ ​ 25,312 ​ ​ 50,625 ​ ​ 50,625 ​ ​ 851,250 Total ​ ​ 2,773,054 ​ ​ 964,554 ​ ​ 906,625 ​ ​ 50,625 ​ ​ 851,250 ​

Operations (Details)

Operations (Details) $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2021USD ($)	Apr. 30, 2014USD ($)	Dec. 31, 2021Vote
Operations
Net proceeds from Offering | $	$ 178.4
Class A ordinary shares
Operations
Number of votes each share is entitled to | Vote			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 | Vote			3
IPO | Class A ordinary shares
Operations
Proceeds from IPO | $		$ 306.5
Weimeng
Operations
Percentage of Direct/Indirect Economic Interest in VIEs			99.00%
Weimeng Chuangke
Operations
Percentage of Direct/Indirect Economic Interest in VIEs			100.00%
Weibo Interactive
Operations
Percentage of Direct/Indirect Economic Interest in VIEs			100.00%
Weibo HK
Operations
Percentage of Direct/Indirect Economic Interest	100.00%		100.00%
Weibo Technology
Operations
Percentage of Direct/Indirect Economic Interest	100.00%		100.00%
WB Online
Operations
Percentage of Direct/Indirect Economic Interest	100.00%		100.00%
Weishichangmeng
Operations
Percentage of Direct/Indirect Economic Interest	100.00%		100.00%

Operations - Assets, Liabilitie

Operations - Assets, Liabilities, Statement of Operations and Cash Flows (Details) ¥ in Millions		1 Months Ended	12 Months Ended
		Apr. 30, 2020CNY (¥)director	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Operations
Costs and allocated expenses from SINA			$ 38,270,000	$ 43,011,000	$ 51,848,000
Interest-free loans to the VIE's shareholders			92,000,000	89,500,000
VIEs and VIEs' subsidiaries accumulated deficit			132,500,000	(96,100,000)
Assets and liabilities of the VIEs and their subsidiaries
Cash and cash equivalents			2,423,703,000	1,814,844,000
Short-term investments			711,062,000	1,682,048,000
Cash, cash equivalents and short-term investments			3,134,765,000	3,496,892,000
Accounts receivable			723,089,000	492,010,000
Prepaid expenses and other current assets			450,726,000	296,757,000
Property and equipment, net			68,396,000	60,632,000
Operating lease assets			60,519,000	7,176,000
Intangible assets			166,930,000	146,976,000
Goodwill			130,405,000	61,712,000	28,989,000	$ 29,346,000
Long-term investments			1,207,651,000	1,179,466,000	1,027,459,000	$ 694,586,000
Other non-current assets			11,558,000	2,126,000
Total assets			7,519,522,000	6,335,117,000
Accounts payable			197,643,000	149,509,000
Accrued and other liabilities			821,033,000	556,753,000
Deferred revenues			91,136,000	143,684,000
Income taxes payable			144,747,000	102,844,000
Operating lease liability			59,961,000
Deferred tax liability			66,903,000	58,299,000
Other non-current liabilities			15,123,000	2,102,000
Total liabilities			3,831,502,000	3,448,787,000
Results of operations of the VIEs and their subsidiaries
Net revenues			2,257,083,000	1,689,931,000	1,766,914,000
Net income (loss) after intercompany service fee charge			428,319,000	313,364,000	494,675,000
Cash flows of the VIE and its subsidiary
Net cash provided by (used in) operating activities			814,020,000	741,646,000	631,653,000
Net cash used in investing activities			(423,960,000)	(1,214,315,000)	(1,201,358,000)
Net cash provided by financing activities			189,442,000	741,963,000	791,869,000
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			$ 241,400,000	196,600,000
Term of loan agreements			10 years
Term of trademark license agreements			1 year
Service fees revenue charged to VIE			$ 1,026,200,000	766,800,000	832,400,000
Weimeng.
Contractual Arrangements with the VIE
Equity interest (in percentage)			99.00%
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
Costs and allocated expenses from SINA			$ 3,400,000	8,700,000	27,600,000
Assets and liabilities of the VIEs and their subsidiaries
Cash and cash equivalents			183,543,000	274,003,000
Short-term investments			110,472,000	171,207,000
Accounts receivable			650,278,000	431,022,000
Prepaid expenses and other current assets			160,722,000	55,653,000
Amount due from SINA			36,211,000	31,142,000
Property and equipment, net			1,812,000	692,000
Operating lease assets			28,049,000	1,783,000
Intangible assets			166,930,000	146,976,000
Goodwill			130,405,000	61,712,000
Long-term investments			439,922,000	394,745,000
Other non-current assets			352,008,000	15,615,000
Total assets			2,260,352,000	1,584,550,000
Accounts payable			129,498,000	83,336,000
Accrued and other liabilities			480,866,000	341,552,000
Deferred revenues			57,348,000	85,846,000
Income taxes payable			41,882,000	26,417,000
Amount due to the subsidiaries of the Group			1,462,242,000	968,138,000
Operating lease liability			28,022,000	1,704,000
Deferred tax liability			39,637,000	32,418,000
Other non-current liabilities			15,122,000	2,102,000
Total liabilities			2,254,617,000	1,541,513,000
Results of operations of the VIEs and their subsidiaries
Net revenues			1,821,294,000	1,319,080,000	1,472,867,000
Net income (loss) after intercompany service fee charge			(36,406,000)	(129,126,000)	9,874,000
Cash flows of the VIE and its subsidiary
Net cash provided by (used in) operating activities	[1]		481,541,000	157,262,000	(100,987,000)
Net cash used in investing activities			(583,397,000)	(272,958,000)	(280,404,000)
Net cash provided by financing activities			$ 11,396,000	290,234,000	441,952,000
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%
Revision of prior period error correction adjustment | Consolidated VIEs
Cash flows of the VIE and its subsidiary
Net cash provided by (used in) operating activities				171,200,000
Costs of revenues
Operations
Costs and allocated expenses from SINA			$ 14,749,000	19,462,000	22,246,000
Sales and marketing
Operations
Costs and allocated expenses from SINA			3,319,000	5,966,000	9,770,000
Product development
Operations
Costs and allocated expenses from SINA			10,083,000	10,505,000	13,141,000
General and administrative
Operations
Costs and allocated expenses from SINA			$ 10,119,000	$ 7,078,000	$ 6,691,000
[1]	* Net cash provided by operating activities of VIEs and VIEs’ subsidiaries for the year ended December 31, 2020 has been revised to reduce the amount by US $171.2 million to correct an error in previously issued financial statements included in 2020 Form 20-F.

Significant Accounting Polici_4

Significant Accounting Policies (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Revenues			$ 2,257,083	$ 1,689,931	$ 1,766,914
Revenue recognized that was included in the deferred revenue			126,500	91,500	88,300
Costs and Expenses
Taxes on advertising and marketing revenues			28,700	24,600
Sales and Marketing Expenses
Advertising and promotional expenses			$ 418,000	330,900	352,300
Options
Stock-based compensation
Vesting period			4 years
Service-based restricted share units
Stock-based compensation
Vesting period			4 years
Advertising & Marketing
Revenues:
Revenues			$ 1,980,795	1,486,155	1,530,211
Costs and Expenses
Cultural business construction fees (as a percent)	1.50%	3.00%	3.00%
Advertising & Marketing | 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			$ 276,288	$ 203,776	$ 236,703

Significant Accounting Polici_5

Significant Accounting Policies - Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease asset	$ 60,519	$ 7,176
Operating lease liability	$ 59,961
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 Polici_6

Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property and equipment
Depreciation expenses	$ 32.8	$ 26.5	$ 22.4
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 Polici_7

Significant Accounting Policies - Intangible Assets Other Than Goodwill, Foreign Currency and Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Foreign currency
Currency translation adjustments | $	$ 78,196	$ 148,547	$ (19,029)
Segment reporting
Number of principal business segments | segment	2
Minimum
Intangible assets other than goodwill
Estimated useful lives of intangible assets	3 years
Maximum
Intangible assets other than goodwill
Estimated useful lives of intangible assets	10 years

Significant Accounting Polici_8

Significant Accounting Policies - Concentration of Risks (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)customer	Dec. 31, 2020USD ($)Agency	Dec. 31, 2019Agency	Dec. 31, 2018Agency
Concentration of risks
Cash, cash equivalents and short-term investments	$ 3,134,765	$ 3,496,892
Accounts receivable denominated in RMB	723,089	492,010
Current liabilities denominated in RMB	2,159,019	958,370
Cash, cash equivalents and short-term investments | Concentration of credit risk | China
Concentration of risks
Cash, cash equivalents and short-term investments	$ 2,500,000	3,000,000
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	$ 1,485,100	$ 1,651,300
Percentage of benchmark derived from specified source	47.00%	47.00%
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	6.00%	9.00%	6.00%
Consolidated net accounts receivables benchmark | Concentration of credit risk | Alibaba
Concentration of risks
Percentage of benchmark derived from specified source	12.00%	28.00%
Consolidated net accounts receivables benchmark | Concentration of foreign currency risks | RMB
Concentration of risks
Accounts receivable denominated in RMB	$ 723,100	$ 492,000
Current liabilities | Concentration of foreign currency risks | RMB
Concentration of risks
Current liabilities denominated in RMB	$ 1,224,600	$ 947,600
Percentage of benchmark derived from specified source	57.00%	99.00%
Current liabilities | Concentration of foreign currency risks | RMB | Convertible notes
Concentration of risks
Current liabilities denominated in RMB	$ 896,500
Advertising & Marketing | 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	35.00%	32.00%	28.00%

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents:
Cash	$ 2,423,703	$ 1,814,844
Short-term investments:
Bank time deposits	603,838	1,515,880
Wealth management products, short-term	107,224	166,168
Subtotal	711,062	1,682,048
Total cash, cash equivalents and short-term investments	3,134,765	3,496,892
Interest income	77,280	85,829	$ 85,386
Interest income on Cash, Cash Equivalents and Short term Investments	$ 46,100	$ 52,300	$ 57,400
Maximum maturity period of time deposits and wealth management products	1 year

Long-term Investments - Changes

Long-term Investments - Changes in Long-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Long-term investments
Balance at the beginning of the year	$ 1,179,466	$ 1,027,459	$ 694,586
Investments made/transfers from prepayments	278,968	258,350	375,620
Income from equity method investments, net	14,217	10,434	(13,198)
Dividend received from equity method investments	(11,695)	(320)	(932)
Disposal of investments	(80,613)	(50,401)	(1,889)
Changes from measurement alternative to consolidation (Note 6)	(66,415)
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values	0		0
Impairment of investments	(106,800)	(126,820)	(230,859)
Fair value change through earnings (including adjustment of subsequent price changes)	(72,787)	35,115	207,438
Fair value change through earnings	(13,439)
Currency translation adjustment	13,962	25,649	(3,307)
Balance at the end of year	1,207,651	1,179,466	1,027,459
Showworld
Long-term investments
Fair value change gain	1,000	204,700
Cost Method
Long-term investments
Balance at the beginning of the year	579,084	558,602	570,619
Investments made/transfers from prepayments	96,768	134,925	268,734
Income from equity method investments, net	0	0	0
Dividend received from equity method investments	0	0	0
Disposal of investments	(75,667)	(2,067)	(1,724)
Changes from measurement alternative to consolidation (Note 6)	(66,415)
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values	(142,000)		(81,385)
Impairment of investments	(106,800)	(126,820)	(230,859)
Fair value change through earnings (including adjustment of subsequent price changes)		(2,462)	35,838
Fair value change through earnings	(23,316)
Currency translation adjustment	7,062	16,906	(2,621)
Balance at the end of year	268,716	579,084	558,602
Equity Method
Long-term investments
Balance at the beginning of the year	311,161	199,379	122,491
Investments made/transfers from prepayments	182,200	92,925	91,869
Income from equity method investments, net	14,217	10,434	(13,198)
Dividend received from equity method investments	(11,695)	(320)	(932)
Disposal of investments	0	0	(165)
Changes from measurement alternative to consolidation (Note 6)	0
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values	0		0
Impairment of investments	0	0	0
Fair value change through earnings (including adjustment of subsequent price changes)		0	0
Fair value change through earnings	0
Currency translation adjustment	6,900	8,743	(686)
Balance at the end of year	502,783	311,161	199,379
Equity Securities With Readily Determinable Fair Values
Long-term investments
Balance at the beginning of the year	289,221	269,478	1,476
Investments made/transfers from prepayments	0	30,500	15,017
Income from equity method investments, net	0	0	0
Dividend received from equity method investments	0	0	0
Disposal of investments	(4,946)	(48,334)	0
Changes from measurement alternative to consolidation (Note 6)	0
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values	142,000		81,385
Impairment of investments	0	0	0
Fair value change through earnings (including adjustment of subsequent price changes)		37,577	171,600
Fair value change through earnings	9,877
Currency translation adjustment	0	0	0
Balance at the end of year	$ 436,152	$ 289,221	$ 269,478

Long-term Investments (Details)

Long-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Long-term Investments
Investments made/transferred from prepayments	$ 278,968	$ 258,350	$ 375,620
Cost Method
Long-term Investments
Investments made/transferred from prepayments	96,768	134,925	268,734
Cost Method | Private companies
Long-term Investments
Investments made/transferred from prepayments	96,800	134,900	268,700
Cost Method | Yixia Tech
Long-term Investments
Investments made/transferred from prepayments			100,000
Cost Method | Wuta application
Long-term Investments
Fair value change loss for equity interest previously held by Group immediately before step acquisition	27,600
Investment fund invested	39,500
Cost Method | A financing guarantee company
Long-term Investments
Investments made/transferred from prepayments		46,800
Cost Method | A commercial search business
Long-term Investments
Investments made/transferred from prepayments		30,600
Cost Method | A company providing consumer finance services
Long-term Investments
Investments made/transferred from prepayments	20,000
Equity Method
Long-term Investments
Investments made/transferred from prepayments	$ 182,200	92,925	$ 91,869
Equity Method | A company providing consumer finance services
Long-term Investments
Investments made/transferred from prepayments		$ 57,400

Long-term Investments - Carryin

Long-term Investments - Carrying Value of Equity Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Total carrying value of the equity securities
Initial cost basis	$ 656,011	$ 870,893
Upward adjustments	85,710	81,458
Downward adjustments	(490,498)	(383,698)
Foreign currency translation	17,493	10,431
Total carrying value at the end of the period	$ 268,716	$ 579,084

Long-term Investments - Additio

Long-term Investments - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2021
Long-term Investments
Impairment charges during the year	$ 106,800	$ 126,820	$ 230,859
Impairment charge	106,800	211,985	249,935
Gross Unrealized Gains	212,767	204,675
Equity securities with readily determinable market value	436,152	289,221
Showworld
Long-term Investments
Gross Unrealized Gains	205,659	204,675
Equity securities with readily determinable market value	287,044	286,060
Didi
Long-term Investments
Gross Unrealized Gains	7,108
Equity securities with readily determinable market value	149,108			$ 142,000
Other marketable securities
Long-term Investments
Gross Unrealized Gains		0
Equity securities with readily determinable market value		3,161
Cost Method
Long-term Investments
Impairment charges during the year	106,800	126,820	230,859
Cost Method | Equity Investee In ECommerce Business
Long-term Investments
Impairment charge		59,800
Cost Method | A game company
Long-term Investments
Impairment charge		39,300
Cost Method | Yixia Tech
Long-term Investments
Impairment charge	75,300
Equity Method
Long-term Investments
Impairment charges during the year	0	0	$ 0
Equity securities with readily determinable market value	$ 7,100
Equity Method | A game company
Long-term Investments
Impairment charge		$ 39,300

Long-term Investments - Carry_2

Long-term Investments - Carrying Amount and Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Carrying amount and fair value of the marketable security
Cost Basis	$ 223,385		$ 96,659
Gross Unrealized Gains	212,767		204,675
Gross Unrealized Losses	0		(12,113)
Fair Value	436,152		289,221
Showworld
Carrying amount and fair value of the marketable security
Cost Basis	81,385		81,385
Gross Unrealized Gains	205,659		204,675
Gross Unrealized Losses	0		0
Fair Value	287,044		286,060
Didi
Carrying amount and fair value of the marketable security
Cost Basis	142,000
Gross Unrealized Gains	7,108
Gross Unrealized Losses	0
Fair Value	$ 149,108	$ 142,000
Other marketable securities
Carrying amount and fair value of the marketable security
Cost Basis			15,274
Gross Unrealized Gains			0
Gross Unrealized Losses			(12,113)
Fair Value			$ 3,161

Long-term Investments - Impairm

Long-term Investments - Impairment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Long-term Investments
Impairment charge	$ 106,800,000	$ 211,985,000	$ 249,935,000
Write-offs of prepayments	0	1,500,000	$ 19,100,000
Equity Method
Long-term Investments
Other impairments		30,700,000
A game company | Equity Method
Long-term Investments
Impairment charge		39,300,000
A game company | Cost Method
Long-term Investments
Impairment charge		39,300,000
Loans to investees.
Long-term Investments
Impairment charge	82,200,000
Yixia Tech | Cost Method
Long-term Investments
Impairment charge	$ 75,300,000
Equity Investee In ECommerce Business | Cost Method
Long-term Investments
Impairment charge		$ 59,800,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Components of lease cost
Operating lease cost	$ 7,625	$ 4,902	$ 4,693
Short-term lease cost	4,776	3,167	2,663
Variable lease cost	5,287	4,479	4,172
Total lease cost	17,688	12,548	11,528
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases	(8,948)	(5,522)	(4,683)
Operating lease assets obtained in exchange for operating lease liabilities	65,459	$ 1,675	$ 944
Maturities of lease liabilities under operating leases, Twelve Months Ended June 30,
2022	11,271
2023	10,329
2024	10,861
2025	10,413
2026 and thereafter	44,073
Total future payments for recognized leasing assets	86,947
Less: leases not commenced yet	6,520
Less: imputed interest	20,466
Total lease liabilities	$ 59,961
Average remaining lease term	11 years 9 months 18 days
Weighted-average discount rate (as a percent)	5.00%
Lease contracts that has been entered into but not yet commenced	$ 6,500

Goodwill, Intangible Assets a_3

Goodwill, Intangible Assets and Acquisitions - Allocation of Consideration (Details) - USD ($) $ in Thousands	Aug. 01, 2021	May 01, 2021	Oct. 31, 2020	Aug. 31, 2021	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business combination allocated based on fair value of the assets and the liabilities
Goodwill						$ 130,405	$ 61,712	$ 28,989	$ 29,346
Maximum
Acquisitions, Goodwill and Intangible Assets
Finite-Lived Intangible Asset, Useful Life						10 years
Minimum
Acquisitions, Goodwill and Intangible Assets
Finite-Lived Intangible Asset, Useful Life						3 years
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			$ 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
Finite-Lived Intangible Asset, Useful Life			10 years
JM Tech | Minimum
Acquisitions, Goodwill and Intangible Assets
Finite-Lived Intangible Asset, Useful Life			4 years
A mobile app company
Acquisitions, Goodwill and Intangible Assets
Cash consideration					$ 39,500
Business combination allocated based on fair value of the assets and the liabilities
Identifiable intangible assets acquired					$ 16,500
Equity interest acquired					51.20%
Equity interest held					34.80%
A mobile app company | Maximum
Business combination allocated based on fair value of the assets and the liabilities
Identifiable intangible assets acquired, estimated lives					10 years
A mobile app company | Minimum
Business combination allocated based on fair value of the assets and the liabilities
Identifiable intangible assets acquired, estimated lives					3 years
Wuta application
Business combination allocated based on fair value of the assets and the liabilities
Consideration		$ 39,540
Fair value of previously held equity interest		26,875
Non-controlling interest		10,811
Cash and short-term investments acquired		5,786
Other assets acquired		6,801
Identifiable intangible assets acquired		16,495
Goodwill		51,034
Liabilities assumed		(2,890)
Total		$ 77,226
An E-sports team
Business combination allocated based on fair value of the assets and the liabilities
Consideration	$ 30,953
Identifiable intangible assets acquired	19,274			$ 19,300
Goodwill	14,745
Liabilities assumed	(3,066)
Total	$ 30,953
Identifiable intangible assets acquired, estimated lives				10 years
A mobile app company
Business combination allocated based on fair value of the assets and the liabilities
Total equity interest		86.00%

Goodwill, Intangible Assets a_4

Goodwill, Intangible Assets and Acquisitions - Changes in the Group's Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Changes in the Group's goodwill by segment
Balance at the beginning of the year	$ 61,712	$ 28,989	$ 29,346
Currency translation adjustment	2,914	2,648	(357)
Balance at the end of the year	130,405	61,712	28,989
JM Tech
Changes in the Group's goodwill by segment
Acquisition		30,075
Wuta application
Changes in the Group's goodwill by segment
Acquisition	51,034
An E-sports team
Changes in the Group's goodwill by segment
Acquisition	14,745
Advertising & Marketing
Changes in the Group's goodwill by segment
Balance at the beginning of the year	30,899	28,989	29,346
Currency translation adjustment	1,813	1,910	(357)
Balance at the end of the year	83,746	30,899	28,989
Advertising & Marketing | JM Tech
Changes in the Group's goodwill by segment
Acquisition		0
Advertising & Marketing | Wuta application
Changes in the Group's goodwill by segment
Acquisition	51,034
Advertising & Marketing | An E-sports team
Changes in the Group's goodwill by segment
Acquisition	0
Value-added services
Changes in the Group's goodwill by segment
Balance at the beginning of the year	30,813	0	0
Currency translation adjustment	1,101	738	0
Balance at the end of the year	46,659	30,813	$ 0
Value-added services | JM Tech
Changes in the Group's goodwill by segment
Acquisition		$ 30,075
Value-added services | Wuta application
Changes in the Group's goodwill by segment
Acquisition	0
Value-added services | An E-sports team
Changes in the Group's goodwill by segment
Acquisition	$ 14,745

Goodwill, Intangible Assets a_5

Goodwill, Intangible Assets and Acquisitions - Intangible assets arising from acquisitions (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Acquired finite-lived intangible assets
Cost	$ 205,083	$ 162,272
Accumulated Amortization	(38,153)	(15,296)
Intangible assets, net	166,930	146,976
Game related
Acquired finite-lived intangible assets
Cost	150,371	127,238
Accumulated Amortization	(16,649)	(2,199)
Intangible assets, net	133,722	125,039
Technology
Acquired finite-lived intangible assets
Cost	10,172	9,544
Accumulated Amortization	(5,494)	(4,417)
Intangible assets, net	4,678	5,127
Trademark and Domain name
Acquired finite-lived intangible assets
Cost	20,078	12,788
Accumulated Amortization	(4,458)	(1,542)
Intangible assets, net	15,620	11,246
Supplier-relationship
Acquired finite-lived intangible assets
Cost	10,538	10,253
Accumulated Amortization	(6,961)	(4,689)
Intangible assets, net	3,577	5,564
Others
Acquired finite-lived intangible assets
Cost	13,924	2,449
Accumulated Amortization	(4,591)	(2,449)
Intangible assets, net	$ 9,333	$ 0

Goodwill, Intangible Assets a_6

Goodwill, Intangible Assets and Acquisitions - Future Amortization Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill, Intangible Assets and Acquisitions
Amortization expense	$ 22,200	$ 5,700	$ 3,400
Future estimated amortization expenses
2022	24,662
2023	23,150
2024	21,456
2025	17,620
2026 and thereafter	80,042
Intangible assets, net	$ 166,930	$ 146,976

Stock-Based Compensation - Ince

Stock-Based Compensation - Incentive Plan Details (Details) - USD ($) shares in Thousands, $ in Thousands	Jan. 01, 2015	Mar. 31, 2014	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock-Based Compensation
Number of additional shares for the plan			0	0	0
Stock based compensation, amortization period			4 years
Non-cash stock-based compensation			$ 95,896	$ 67,105	$ 61,289
Performance-based restricted shares
Stock-Based Compensation
Stock based compensation, amortization period			1 year
2014 Plan
Stock-Based Compensation
Ordinary shares reserved for issuance		4,600
Number of additional shares for the plan		1,000
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 - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock-based compensation
Total	$ 87,996	$ 67,105	$ 61,289
Non-cash stock-based compensation charged through Amount due from SINA	7,900
Costs of revenues
Stock-based compensation
Total	8,112	5,384	5,251
Sales and marketing
Stock-based compensation
Total	15,292	9,983	9,828
Product development
Stock-based compensation
Total	43,622	33,093	28,628
General and administrative
Stock-based compensation
Total	$ 20,970	$ 18,645	$ 17,582

Stock-Based Compensation - Numb

Stock-Based Compensation - Number of Shares Available for Issuance (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of shares available for issuance
Number of shares available for issuance, beginning		12,495,000	15,104,000	17,293,000
Addition (in shares)		0	0	0
Granted (in shares)		(5,752,000)	(3,040,000)	(2,411,000)
Cancelled/expired/forfeited (in shares)		692,000	431,000	222,000
Number of shares available for issuance, ending		7,435,000	12,495,000	15,104,000	17,293,000
Aggregate Intrinsic Value
Total intrinsic value of options exercised		$ 4,000	$ 500	$ 4,200
Fair value per ordinary share (in dollars per share)		$ 30.98	$ 40.99
Cash received from the exercise of stock option		$ 1,313	$ 122	$ 275
Unrecognized compensation cost		275,700	139,600
Unrecognized compensation cost		$ 3,200	$ 5,400
Expected weighted-average recognition period for unrecognized compensation cost		2 years 8 months 12 days
2014 Plan
Number of shares available for issuance
Addition (in shares)	1,000,000
Options
Number of shares available for issuance
Granted (in shares)		0	482,000	0
Options Outstanding
Outstanding at the beginning of the year (in shares)		551,000	89,000	184,000
Granted (in shares)		0	482,000	0
Exercised (in shares)		(105,000)	(16,000)	(95,000)
Cancelled/expired/forfeited (in shares)		(59,000)	(4,000)	0
Outstanding at the end of the year (in shares)		387,000	551,000	89,000	184,000
Vested and expected to vest at the end of the year (in shares)		351,000	503,000
Exercisable at the end of the year (in shares)		82,000	72,000
Weighted Average Exercise Price
Outstanding at the beginning of the year (in dollars per share)		$ 28.85	$ 3.49	$ 3.45
Granted (in dollars per share)		0	32.68	0
Exercised (in dollars per share)		12.70	3.47	3.41
Cancelled/expired/forfeited (in dollars per share)		32.68	30.96	0
Outstanding at the end of the year (in dollars per share)		32.68	28.85	$ 3.49	$ 3.45
Vested and expected to vest at the end of the year (in dollars per share)		32.68	28.50
Exercisable at the end of the year (in dollars per share)		$ 32.68	$ 3.50
Weighted Average Remaining Contractual Life (In years)
Outstanding at the end of the year		5 years 7 months 6 days	5 years 9 months 18 days	8 months 12 days	1 year 6 months
Vested and expected to vest at the end of the year		5 years 7 months 6 days	5 years 8 months 12 days
Exercisable at the end of the year		5 years 7 months 6 days	2 months 12 days
Aggregate Intrinsic Value
Outstanding at the end of the year		$ 0	$ 6,683	$ 3,799	$ 10,089
Vested and expected to vest at the end of the year		0	6,294
Exercisable at the end of the year		$ 0	$ 2,707
Options | 2014 Plan
Number of shares available for issuance
Granted (in shares)		0	500,000	0
Options Outstanding
Granted (in shares)		0	500,000	0
Restricted share units
Aggregate Intrinsic Value
Expected weighted-average recognition period for unrecognized compensation cost		3 years 3 months 18 days
Restricted share units | 2014 Plan
Number of shares available for issuance
Restricted shares units granted (in shares)		5,800,000	2,500,000	2,400,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Option Activities (Details) - Options - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
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
Exercise prices, outstanding stock option awards, high end of range (in dollars per share)		$ 3.50
Options Outstanding (in shares)		72
Weighted Average Exercise Price (in dollars per share)		$ 3.50
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
$32.68
Range of Exercise Prices
Exercise prices, outstanding stock option awards, high end of range (in dollars per share)	$ 32.68	$ 32.68
Options Outstanding (in shares)	387	479
Weighted Average Exercise Price (in dollars per share)	$ 32.68	$ 32.68
Options Exercisable (in shares)	82	0
Weighted Average Exercise Price (in dollars per share)	$ 32.68	$ 0
Weighted Average Remaining Contractual Life (In years)	5 years 7 months 6 days	0 years

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Share Units (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted-Average Grant Date Fair Value
Unrecognized compensation cost	$ 275.7	$ 139.6
Expected weighted-average recognition period for unrecognized compensation cost	2 years 8 months 12 days
Total fair value vested	$ 73.4	$ 64.2	$ 51.7
Performance-Based Restricted Share Units
Shares Granted
Outstanding at the beginning of the period (in shares)	17	59	4
Awarded (in shares)	15	46	98
Vested (in shares)	(2)	(54)	(4)
Cancelled (in shares)	(19)	(34)	(39)
Outstanding at the end of the period (in shares)	11	17	59
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 36.49	$ 61.17	$ 87.14
Awarded (in dollars per share)	54.08	36.49	64.33
Vested (in dollars per share)	38.78	60.16	87.14
Cancelled (in dollars per share)	40.63	36.49	69.14
Outstanding at the end of the period (in dollars per share)	$ 54.17	$ 36.49	$ 61.17
Unrecognized compensation cost	$ 0	$ 0
Service-based restricted share units
Shares Granted
Outstanding at the beginning of the period (in shares)	4,324	3,512	2,756
Awarded (in shares)	5,737	2,512	2,313
Vested (in shares)	(1,608)	(1,307)	(1,374)
Cancelled (in shares)	(614)	(393)	(183)
Outstanding at the end of the period (in shares)	7,839	4,324	3,512
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 41.86	$ 50.89	$ 48.62
Awarded (in dollars per share)	47.95	33.50	45.49
Vested (in dollars per share)	45.66	49.12	37.60
Cancelled (in dollars per share)	44.02	44.96	48.48
Outstanding at the end of the period (in dollars per share)	$ 45.37	$ 41.86	$ 50.89

Other Balance Sheet Component_2

Other Balance Sheet Components - Accounts Receivable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable, net:
Accounts receivable due from third parties, gross	$ 620,632,000	$ 343,220,000
Total gross amount	765,739,000	527,166,000
Allowance for credit losses:
Balance at the beginning of the year	(35,156,000)	(36,594,000)	$ (12,429,000)
Additional provision charged to expenses, net	(19,702,000)	(53,124,000)	(38,561,000)
Write-off	12,208,000	54,562,000	14,396,000
Balance at the end of the year	(42,650,000)	(35,156,000)	$ (36,594,000)
Accounts receivable, net	723,089,000	492,010,000
Alibaba
Accounts receivable, net:
Accounts receivable due from related parties, gross	89,344,000	135,321,000
Allowance for credit losses:
Balance at the beginning of the year	0
Balance at the end of the year	0	0
Other related parties
Accounts receivable, net:
Accounts receivable due from related parties, gross	55,763,000	48,625,000
Allowance for credit losses:
Balance at the beginning of the year	(6,095,000)
Balance at the end of the year	$ 0	$ (6,095,000)

Other Balance Sheet Component_3

Other Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Prepaid expenses and other current assets:
Rental and other deposits	$ 1,949	$ 1,186
Deductible value-added taxes	3,063	598
Investment prepayment	0	15,308
Loans to and interest receivable from other related parties (Note 10)	219,679	158,622
Loans to and interest receivable from third parties	137,024	41,784
Advertising prepayment	12,011	18,888
Prepayment to outsourced service providers	3,776	3,719
Amounts deposited by users	53,997	45,745
Content fees	1,695	3,080
Others	17,532	7,827
Prepaid expenses and other current assets	$ 450,726	$ 296,757

Other Balance Sheet Component_4

Other Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property and equipment, net:
Property and equipment, gross	$ 205,594	$ 179,545
Less: Accumulated depreciation	(137,198)	(118,913)
Property and equipment, net	68,396	60,632
Computers and equipment
Property and equipment, net:
Property and equipment, gross	188,476	165,880
Leasehold improvements
Property and equipment, net:
Property and equipment, gross	7,331	6,429
Furniture and fixtures
Property and equipment, net:
Property and equipment, gross	2,554	2,159
Other
Property and equipment, net:
Property and equipment, gross	$ 7,233	$ 5,077

Other Balance Sheet Component_5

Other Balance Sheet Components - Other non-current assets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Investment related deposits	$ 366,067,000	$ 15,450,000
Loans to and interest receivable from a related party(2) (Note 10)	480,786,000	0
Prepayment for purchase of SINA Plaza	133,734,000	0
Wealth management products, long-term	50,159,000	0
Deferred tax assets	40,537,000	27,020,000
Others	11,558,000	2,126,000
Other non-current assets	1,082,841,000	44,596,000
Company D
Loans to and interest receivable from a related party(2) (Note 10)	$ 480,786,000	$ 0

Other Balance Sheet Component_6

Other Balance Sheet Components - Accrued and other Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Payroll and welfare	$ 170,534,000	$ 126,023,000
Marketing expenses	82,471,000	59,410,000
Sales rebates	359,813,000	222,064,000
Professional fees	7,791,000	3,880,000
VAT and other tax payable	53,589,000	49,971,000
Amounts due to users	53,997,000	45,745,000
Unpaid consideration for acquisition	6,293,000	10,280,000
Unpaid consideration for investment	441,000	19,257,000
Interest payable for convertible debt and unsecured senior notes	27,579,000	923,000
Listing expenses payable	9,347,000	0
Others	49,178,000	19,200,000
Accrued and other liabilities	821,033,000	556,753,000
Impairment charges on investment prepayments	0	1,500,000	$ 19,100,000
Investment related deposits	366,067,000	15,450,000
Prepayment for purchase of SINA Plaza	133,734,000	$ 0
Loss on wealth management products	59,300,000
Remaining fair value of wealth management products	50,200,000
A micro loan company
Investment related deposits	77,900,000
A game company
Investment related deposits	$ 269,100,000

Income Taxes (Details)

Income Taxes (Details) $ / shares in Units, $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2021USD ($)jurisdiction$ / shares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2019HKD ($)	Dec. 31, 2018HKD ($)	Dec. 31, 2021CNY (¥)
Income taxes
Number of taxable jurisdictions | jurisdiction	2
Components of income before income taxes
Income before income tax expenses	$ 550,718,000	$ 375,913,000	$ 602,397,000
Less: Income (loss) from non-China operations	(232,830,000)	(57,031,000)	(106,256,000)
Income from China operations	$ 783,548,000	$ 432,944,000	$ 708,653,000
Effective tax rate for the Group	25.20%	16.30%	18.20%	18.20%
Income tax rate (as a percent)	25.00%	25.00%	25.00%	25.00%
Percentage research and development expenses	150.00%	175.00%
Composition of income tax expenses for China operations
Deferred tax provisions (benefits)	$ (12,478,000)	$ (15,727,000)	$ 16,839,000
Current income tax expenses	151,319,000	77,043,000	92,725,000
Income tax expenses	$ 138,841,000	$ 61,316,000	$ 109,564,000
Reconciliation of the statutory tax rate to the effective tax rate
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)	(13.10%)	(24.10%)	(16.10%)	(16.10%)
Research and development super-deduction (as a percent)	(7.50%)	(3.50%)	(1.40%)	(1.40%)
Non-deductible expenses and non-taxable income and others (as a percent)	9.20%	(0.60%)	0.40%	0.40%
Change in valuation allowance (as a percent)	0.70%	14.90%	2.40%	2.40%
Tax rate difference from statutory rate in other jurisdictions (as percent)	10.90%	4.60%	7.90%	7.90%
Deferred tax assets:
Net operating loss carry forwards	$ 7,875,000	$ 8,872,000
Valuation allowance	(7,875,000)	(8,872,000)
Depreciation, investment-related impairment, accounts receivable, accrued and other liabilities	126,753,000	107,892,000
Valuation allowance	(86,216,000)	(80,872,000)
Net deferred tax assets (included in other non-current assets)	40,537,000	27,020,000
Deferred tax liabilities:
Acquired intangible assets	36,471,000	30,999,000
Depreciation	1,662,000	1,435,000
Investment gain	28,454,000	25,496,000
Others	316,000	369,000
Total deferred tax liabilities	66,903,000	58,299,000
Valuation allowance on deferred tax assets	94,100,000	89,700,000
Interest and penalties related to uncertain tax positions	0	0
Liability related to uncertain tax positions expected to be recognized	27,900,000
Non-China
Components of income before income taxes
Deferred tax charges from fair value change of investments			$ 21,500,000
Composition of income tax expenses for China operations
Income tax expenses	$ 1,355,000	$ 2,852,000	$ 21,473,000
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	$ 2
Income tax rate (as a percent)	16.50%	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%	8.25%
Net operating loss carry forwards	$ 800,000	$ 10,400,000	$ 8,900,000
Reconciliation of the statutory tax rate to the effective tax rate
Statutory EIT rate (as a percent)	16.50%	16.50%	16.50%	16.50%	16.50%
China
Components of income before income taxes
Effective tax rate for the Group	17.50%	13.50%	12.40%	12.40%
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%
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%					25.00%
Percentage of withholding income tax on dividends distributed by PRC subsidiaries to its immediate holding company in Hong Kong	5.00%
Total undistributed PRC earnings | ¥						¥ 19.3
Composition of income tax expenses for China operations
Income tax expenses	$ 137,486,000	$ 58,464,000	$ 88,091,000
Reconciliation of the statutory tax rate to the effective tax rate
Statutory EIT rate (as a percent)	25.00%
China | High and New Technology Enterprises
Components of income before income taxes
Preferential statutory rate (as a percent)	15.00%	15.00%
Weibo Technology
Reconciliation of the statutory tax rate to the effective tax rate
Effect of preferential tax treatment			83,200,000
Preferential tax treatment recognized	$ 72,300,000	$ 90,300,000	$ 97,100,000
Effect of tax exemption and preferential tax on basic net income per share (USD per share) | $ / shares	$ 0.32	$ 0.40	$ 0.43
Weibo Technology | Research and development
Composition of income tax expenses for China operations
Income tax expenses	$ (41,400,000)	$ (26,600,000)	$ (21,500,000)
Weibo Technology | High and New Technology Enterprises
Reconciliation of the statutory tax rate to the effective tax rate
Effect of preferential tax treatment	$ 55,100,000	$ 55,100,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related party transactions
Costs and expenses allocated from SINA(1)		$ 38,270,000	$ 43,011,000	$ 51,848,000
Total revenues		70,000,000	46,500,000	117,000,000
Related party outstanding balance:
Amount due from SINA	$ 494,200,000	494,200,000	548,900,000
Loans to and interest receivable	219,679,000	219,679,000	158,622,000
Loans to and interest receivable	480,786,000	480,786,000	0
Total	700,465,000	700,465,000	158,622,000
Impairment charges on loans to and interest receivable from other related parties		0	82,200,000
Advertising and marketing revenues from related party		70,000,000	46,500,000	117,000,000
Other revenues generated from related parties		3,300,000	3,400,000	5,400,000
Cost and expenses recognized from transactions with other related parties		62,600,000	48,100,000	$ 31,200,000
Accounts receivable due from other related parties	55,800,000	55,800,000	42,500,000
Accounts payable due to other related parties	44,300,000	44,300,000	30,800,000
Accrued and other liabilities due to other related parties	8,300,000	$ 8,300,000	$ 4,800,000
SINA
Related party transactions
Loan agreement term		1 year	1 year	1 year
Loan to SINA		$ 978,162,000	$ 473,777,000	$ 233,884,000
Loan repaid by SINA		1,058,574,000	181,697,000	43,567,000
Revenue billed through SINA		68,351,000	41,754,000	109,949,000
Revenue from services provided to SINA		43,170,000	20,348,000	27,274,000
Costs and expenses allocated from SINA(1)		38,270,000	43,011,000	51,848,000
Interest income on loans to SINA		17,943,000	13,458,000	9,295,000
Total revenues		111,521,000	62,102,000	137,223,000
Other costs and expenses billed by SINA		48,000,000	48,300,000	37,500,000
Costs and expenses paid by Weibo on behalf of SINA and allocated		800,000	9,700,000
Related party outstanding balance:
Amount due from SINA	494,200,000	494,200,000	548,900,000
Loans to and interest receivable	479,600,000	479,600,000	547,900,000
Advertising and marketing revenues from related party		111,521,000	62,102,000	137,223,000
Alibaba
Related party transactions
Services provided by Alibaba		44,006,000	52,338,000	50,205,000
Related party outstanding balance:
Accounts receivable due from related parties	89,344,000	89,344,000	135,321,000
Alibaba | Advertiser
Related party transactions
Total revenues		139,561,000	152,000,000	97,772,000
Related party outstanding balance:
Accounts receivable due from related parties	89,344,000	89,344,000	135,321,000
Advertising and marketing revenues from related party		139,561,000	152,000,000	97,772,000
Alibaba | Agent
Related party transactions
Total revenues		41,680,000	36,597,000	0
Related party outstanding balance:
Advertising and marketing revenues from related party		41,680,000	36,597,000	0
Company A
Related party outstanding balance:
Loans to and interest receivable	0	0	79,762,000
Company B
Related party outstanding balance:
Loans to and interest receivable	2,789,000	2,789,000	21,771,000
Company C
Related party outstanding balance:
Loans to and interest receivable	211,583,000	211,583,000	41,205,000
Company D
Related party outstanding balance:
Loans to and interest receivable	480,786,000	480,786,000	0
Company D | Other non-current assets
Related party outstanding balance:
Loans to and interest receivable	480,786,000	480,786,000	0
Subtotal | Prepaid expenses and other current assets
Related party outstanding balance:
Loans to and interest receivable	219,679,000	219,679,000	158,622,000
Other related parties
Related party outstanding balance:
Accounts receivable due from related parties	55,763,000	55,763,000	42,530,000
Loans to and interest receivable	$ 5,307,000	$ 5,307,000	15,884,000
Minimum | SINA
Related party outstanding balance:
Annual interest rate		1.00%
Minimum | Company B
Related party outstanding balance:
Annual interest rate	4.00%
Maximum | SINA
Related party outstanding balance:
Annual interest rate		4.50%
Maximum | Company B
Related party outstanding balance:
Annual interest rate	10.00%
Advertising & Marketing | SINA
Related party transactions
Total revenues		$ 96,359,000	48,353,000	112,974,000
Related party outstanding balance:
Advertising and marketing revenues from related party		96,359,000	48,353,000	112,974,000
Value-added services | SINA
Related party transactions
Total revenues		15,162,000	13,749,000	24,249,000
Related party outstanding balance:
Advertising and marketing revenues from related party		$ 15,162,000	$ 13,749,000	$ 24,249,000

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
China Contribution Plan
Employee Benefit Plans
Employer contribution under China Contribution Plan	$ 83.2	$ 51.1	$ 53.3

Net Income per Share (Details)

Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income attributable to Weibo's shareholders	$ 428,319	$ 313,364	$ 494,675
Denominator:
Weighted average ordinary shares outstanding (in shares)	228,814	226,921	225,452
Basic net income per share attributable to Weibo's shareholders (in dollars per share)	$ 1.87	$ 1.38	$ 2.19
Denominator:
Weighted average ordinary shares outstanding (in shares)	228,814	226,921	225,452
Shares used in computing diluted net income per share attributable to Weibo's shareholders	230,206	227,637	226,412
Diluted net income per share attributable to Weibo's shareholders	$ 1.86	$ 1.38	$ 2.18
Options and RSUs
Anti-dilutive share
Effects of dilutive securities (in shares)	1,400	700	1,000
Anti-dilutive share excluded from the calculation of diluted net income per share	400	900	400
Options
Anti-dilutive share
Effects of dilutive securities (in shares)	68	71	153
Restricted share units
Anti-dilutive share
Effects of dilutive securities (in shares)	1,324	645	807
Convertible notes
Anti-dilutive share
Anti-dilutive share excluded from the calculation of diluted net income per share	6,800	6,800	6,800

Profit Appropriation and Rest_2

Profit Appropriation and Restricted Net Assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)fund	Dec. 31, 2020USD ($)
Profit Appropriation and Restricted Net Assets
Minimum percentage of after-tax profit transferred by Chinese subsidiaries to general reserve fund	10.00%
Maximum percentage criteria for appropriation of after-tax profit of Chinese subsidiaries to general reserve fund	50.00%
Number of reserve funds except general reserve fund, appropriation at the entity's discretion | fund	2
Minimum percentage of after-tax profit transferred by VIEs to statutory reserve fund	10.00%
Maximum percentage criteria for in appropriation of after-tax profit by VIEs to certain statutory reserve funds	50.00%
Reserves made to non-distributable general reserve/statutory surplus funds (in dollars)	$ 139.6	$ 127.2
Net assets subject to restriction for the Group (in dollars)	$ 480.7
Percent of restricted net assets of total consolidated net assets	13.00%

Fair Value Measurement - Fair V

Fair Value Measurement - Fair Value Hierarchy (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Fair Value of Financial Instruments
Wealth management products, short-term		$ 107,224	$ 166,168
Wealth management products, long-term		50,159	0
Equity securities with readily determinable market value		436,152	289,221
Financial instruments measured on a recurring basis
Fair Value of Financial Instruments
Wealth management products, short-term	[1]	107,224	166,168
Wealth management products, long-term	[2]	50,159
Equity securities with readily determinable market value	[3]	436,152	289,221
Total		593,535	455,389
Financial instruments measured on a recurring basis | Quoted Prices in Active Market for Identical Assets (Level 1)
Fair Value of Financial Instruments
Wealth management products, short-term	[1]	0	0
Wealth management products, long-term	[2]	0
Equity securities with readily determinable market value	[3]	436,152	289,221
Total		436,152	289,221
Financial instruments measured on a recurring basis | Significant Other Observable Inputs (Level 2)
Fair Value of Financial Instruments
Wealth management products, short-term	[1]	107,224	166,168
Wealth management products, long-term	[2]	0
Equity securities with readily determinable market value	[3]	0	0
Total		107,224	166,168
Financial instruments measured on a recurring basis | Significant Unobservable Inputs (Level 3)
Fair Value of Financial Instruments
Wealth management products, short-term	[1]	0	0
Wealth management products, long-term	[2]	50,159
Equity securities with readily determinable market value	[3]	0	0
Total		$ 50,159	$ 0
[1]	Included in short-term investments on the Group’s consolidated balance sheets.
[2]	Included in other non-current assets on the Group’s consolidated balance sheets.
[3]	Included in long-term investments on the Group’s consolidated balance sheets.

Fair Value Measurement - Recurr

Fair Value Measurement - Recurring and Non-recurring Basis (Details)	12 Months Ended
	Dec. 31, 2021USD ($)item	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Reconciliation of the fair value measurements using significant unobservable inputs
Equity securities, balance	$ 223,385,000	$ 96,659,000
Financial instruments measured on a recurring basis | Wealth management products
Reconciliation of the fair value measurements using significant unobservable inputs
Fair value changes, loss recognized	59,300,000
Equity securities, balance	50,200,000
Carrying value of impaired investments	109,500,000
Non-recurring
Reconciliation of the fair value measurements using significant unobservable inputs
Impairment charge of goodwill recognized	$ 0	0	$ 0
Significant Unobservable Inputs (Level 3)
Reconciliation of the fair value measurements using significant unobservable inputs
Valuation technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Measurement input	wb:MeasurementInputDiscountCurveOfMarketInterestRatesMember
Significant Unobservable Inputs (Level 3) | Non-recurring | Minimum
Reconciliation of the fair value measurements using significant unobservable inputs
Discount rate (as a percent) | item	0.17
Significant Unobservable Inputs (Level 3) | Non-recurring | Maximum
Reconciliation of the fair value measurements using significant unobservable inputs
Discount rate (as a percent) | item	0.23
Significant Unobservable Inputs (Level 3) | Non-recurring | Certain investments under cost method and equity method were measured using significant unobservable inputs
Reconciliation of the fair value measurements using significant unobservable inputs
Impairment charge	$ 106,800,000	126,800,000	$ 230,900,000
Carrying value of impaired investments	$ 14,500,000	$ 89,500,000

Convertible Debt and Unsecure_2

Convertible Debt and Unsecured Senior Notes (Details)	1 Months Ended			12 Months Ended
	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)	Oct. 31, 2017USD ($)$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Convertible Debt
Net proceeds to the Company from the issuance					$ 740,324,000	$ 793,325,000
Unsecured senior notes
Convertible Debt
Aggregate principal amount		$ 800,000,000		$ 800,000,000
Coupon interest (as a percent)		3.50%		3.50%
Net proceeds to the Company from the issuance		$ 793,300,000
Issuance costs		$ 6,700,000
Interest expense				$ 29,300,000	29,300,000	14,500,000
Unsecured senior notes | 2030 Notes
Convertible Debt
Aggregate principal amount	$ 750,000,000			$ 750,000,000
Coupon interest (as a percent)	3.375%			3.375%
Net proceeds to the Company from the issuance	$ 740,300,000
Issuance costs	$ 9,700,000
Interest expense				$ 26,300,000	12,700,000
Convertible notes | 2022 Notes
Convertible Debt
Aggregate principal amount			$ 900,000,000	$ 900,000,000
Coupon interest (as a percent)			1.25%	1.25%
Due date of the Notes			Nov. 15, 2022
Net proceeds to the Company from the issuance			$ 879,300,000
Issuance costs			$ 20,700,000
Interest expense				$ 15,400,000	$ 15,400,000	$ 15,400,000
Convertible notes | 2022 Notes | Class A ordinary shares
Convertible Debt
Conversion ratio per ADS			1
Initial conversion price (in dollars per ADS) | $ / shares			$ 133.27

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2020	Jul. 31, 2019	Oct. 31, 2017
Commitments and Contingencies
Lease expense	$ 17,700	$ 12,500	$ 11,500
Operating lease commitments
Total future payments for recognized leasing assets	86,947
Less than One Year	11,271
One to Three Years	21,190
Three to Five Years	20,175
More than Five Years	34,311
Purchase commitments
Total	619,928
Less than One Year	588,882
One to Three Years	28,653
Three to Five Years	2,268
More than Five Years	125
Unsecured senior notes
2022, 2024 and 2030 Notes
Aggregate principal amount	$ 800,000				$ 800,000
Interest rate (as a percent)	3.50%				3.50%
Unsecured senior notes | 2030 Notes
2022, 2024 and 2030 Notes
Aggregate principal amount	$ 750,000			$ 750,000
Interest rate (as a percent)	3.375%			3.375%
Convertible notes
2022, 2024 and 2030 Notes
Total	$ 2,773,054
Less than One Year	964,554
One to Three Years	906,625
Three to Five Years	50,625
More than Five Years	851,250
Convertible notes | 2022 Notes
2022, 2024 and 2030 Notes
Aggregate principal amount	$ 900,000					$ 900,000
Interest rate (as a percent)	1.25%					1.25%
Total	$ 911,242
Less than One Year	911,242
One to Three Years	0
Three to Five Years	0
More than Five Years	0
Convertible notes | 2024 Notes
2022, 2024 and 2030 Notes
Total	884,000
Less than One Year	28,000
One to Three Years	856,000
Three to Five Years	0
More than Five Years	0
Convertible notes | 2030 Notes
2022, 2024 and 2030 Notes
Total	977,812
Less than One Year	25,312
One to Three Years	50,625
Three to Five Years	50,625
More than Five Years	$ 851,250

Redeemable Non-controlling In_2

Redeemable Non-controlling Interests (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Mezzanine adjustment recognized	$ 0
Compensation costs recognized	87,996,000	$ 67,105,000	$ 61,289,000
Redeemable non-controlling interest increased	$ 3,215,000
JM Tech
Term for employment required by founders to be entitled to their proportionate share in existing and future retained earnings	2 years
Compensation costs recognized	$ 23,200,000
Redeemable non-controlling interest increased	$ 20,000,000

Secondary Listing in Hong Kong

Secondary Listing in Hong Kong (Details) - HKD ($) $ in Millions	Dec. 31, 2021	Dec. 08, 2021
Over-allotment option
Subsidiary or Equity Method Investee [Line Items]
Shares lent to underwriters for settlement of over-allocations		1,453,620
Class A ordinary shares | Over-allotment option
Subsidiary or Equity Method Investee [Line Items]
Shares lent to underwriters for settlement of over-allocations		1,650,000
Shares borrowed by underwriters	1,650,000
Class A ordinary shares | HKEX
Subsidiary or Equity Method Investee [Line Items]
Issuance of shares - global offering		5,500,000
Gross proceeds from the global offering		$ 178.4
SINA | Class A ordinary shares | HKEX
Subsidiary or Equity Method Investee [Line Items]
Issuance of shares - global offering		5,500,000