The Web 2.0 era has given rise to more interactive social platforms，which have accumulated a large number of user resources while meeting people’s social needs and have important commercial value. Exploring the profit-making mechanism of social platforms can help them better develop and utilize the advantages of users and information resources，and achieve their healthy and stable development. This report first briefly introduces the meaning，characteristics，and development history of social platforms，as well as the similarities and differences of the profitability mechanisms of each platform at the present stage. Then，taking Sina Weibo as a representative，we analyze the components of its profitability mechanism and main business models，and focus on Sina Weibo’s multiple profitability mechanisms，mainly advertising revenue，e-commerce marketing，and value-added services. We also suggest solutions to the problems of Sina Weibo’s profitability mechanism. Finally，we conclude by summarizing Sina Weibo’s operational experience and looking forward to the possible adjustments of the profitability mechanism of the social platform in the future.