Weibo could become a private company, sources told Reuters. According to them, Charles Chao, a majority shareholder with a 45 percent stake and chairman of the company's board of directors, is in talks to sell the social network to a Chinese state investment company for $90 to $100 a paper. That's almost double the previous trading day's closing price. The second major shareholder of Weibo is Alibaba with a 30% stake. Charles Chao said that this information is not true, and Alibaba did not respond to the newspaper's request.