By investing in Weibo, Alibaba has already done the job of virtually unlocking the value of Sina's Weibo property: over $3 billion, which is almost the entire market value of Sina, rendering the stock grossly undervalued, essentially at zero dollars, according to Jackson: "I'm long Sina because I think investors will realize the price gap ." With a full-on acquisition, "they're hitching their wagon to a giant who also hates Tencent like they do." Tencent is China's largest online gaming and social networking company, and Sina is positioning itself to be a formidable rival to Tencent's WeChat social messaging service. Prior to the Weibo investment, Alibaba barely had any exposure to social media. But by joining forces with Weibo, with its 500 million users and potential to become the " Facebook ( FB ) of China" means that it now has a partner against Tencent as their mutual "enemy."