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November 8, 2017 12:31 pm GMT
We already knew that Tencent, the owner of China’s messaging behemoth WeChat, was an investor in Snap when the company was still a startup going by the name of its flagship app, Snapchat. Now, as Snap’s stock price buckles under the weight of slow user growth and missed revenue expectations, Tencent is deepening its hold on the company. In a 10-QSEC filing for its quarterly… Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/1p4QzxlK5q4/
WeChat owner Tencent snapped up another 12% of Snap this month
We already knew that Tencent, the owner of China’s messaging behemoth WeChat, was an investor in Snap when the company was still a startup going by the name of its flagship app, Snapchat. Now, as Snap’s stock price buckles under the weight of slow user growth and missed revenue expectations, Tencent is deepening its hold on the company. In a 10-QSEC filing for its quarterly… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/1p4QzxlK5q4/
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