Weibo, which is often called China's homegrown version of Twitter, is no longer satisfied with just tweeting.

As part of Chinese internet company Sina Corp, Weibo Corp is positioning itself as a combination of Twitter, Instagram and YouTube in order to gear up its development as a "social media platform", said the company's top executive.

Charles Chao, chief executive officer of Sina and chairman of Weibo, said that "apart from being a real-time information network, Weibo is also equipped with the features of social networking systems".