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tencent music, spotify’s strategic partner in china, is valued at over $12b


spotify has finally filed to go public, and in doing so the swedish company has shed light on another huge music company that has been tipped for ipo — tencent music — which is now valued at over $12 billion.tencent and spotify announced a share swap in december that saw each side take an undisclosed slice of the other for strategic purposes going forward. according to spotify’s filing, it took nine percent of tencent music entertainment (tme) which it valued at €910 million at the time. that translates to a total valuation of €10.11 billion, or $12.3 billion, although spotify includes 10 percent leeway above and below that figure.in exchange, tencent — which became asia’s first $500 billion business last year — got 7.5 percent of spotify to become one of its largest shareholders. it bough






tencent tried to buy spotify earlier this year


spotify has long been linked with going public in the u.s. — it is speculated to be preparing for an ipo-less listing next year — but it has emerged that the company rebuffed the opportunity to sell to a major tech name earlier this year: tencent, the chinese internet giant valued at $380 billion.tencent is said to have approached spotify with a view to acquiring the company to extend its burgeoning music business outside of china and asia, a source with knowledge of discussions told techcrunch.spotify and tencent both declined to comment when we got in touch.it isn’t clear whether talks got to the point that a price was discussed between the two — spotify’s intent on going public is clear so it may not have advanced to that stage — but it’s an interesting thread to pull.spotify has emerge






this tencent business is still singing a happy tune


the valuation of tencent music entertainment group, the chinese internet giant’s digital music-streaming business, has soared in recent weeks after some of the company’s shares changed hands in private-market transactions, according to people familiar with the matter. some recent stock trades valued tencent music at around $25 billion, one of the people said. there has been increased demand for tencent music’s shares because its hong kong-listed parent is expected to take the business public later this year. recent initial public offerings of tencent-backed companies have generated large gains for investors who got in early. tencent is considering listing its music business in either hong kong or new york.a spokeswoman for tencent declined to comment.spotify’s logo on a smartphone screen i






tencent music plans ipo; valuation could exceed $25 billion


tencent music entertainment group, china’s largest music-streaming company, is preparing what would be one of the biggest technology ipos ever following the successful debut of its european counterpart, spotify technology sa.the digital-music business of chinese internet giant tencent holdings ltd. plans to interview potential underwriting banks over roughly the next month, according to people familiar with the matter. the...






spotify and tencent agree to swap stakes in their music businesses


tencent’s overseas investment splurge continues after the company confirmed a deal with spotify that will see the duo make investments in each other’s music businesses.tencent music entertainment (tme), the chinese firm’s subsidiary that manages its music streaming and karaoke services, will make an undisclosed minority investment in spotify through new shares, while spotify will buy a similar undisclosed stake in tme. further to that, tencent will make its own investment in spotify by purchasing secondary shares from existing backers.“following these transactions, spotify will hold a minority stake in tme, and both tencent and tme will hold minority stakes in spotify,” the companies said in a joint statement.spotify’s ipo is hotly anticipated and it has been tipped to take place as soon a






this tencent business is still singing a happy tune


tencent holdings ltd. may have lost a chunk of its market value this week, but one of its businesses is surging in the eyes of investors. the valuation of tencent music entertainment group, the chinese internet giant’s digital music-streaming business, has soared in recent weeks after some of the company’s shares changed hands in private-market transactions, according to people familiar with the matter. some recent stock trades valued tencent music at around $25 billion, one of the people said. ...






chinese internet giant tencent buys 5% of tesla


tencent, asia’s second highest valued tech firm, has bought a five percent share in tesla. according to a filing, the chinese firm scooped up 8,167,544 shares for around $1.7 billion to become one of tesla’s largest shareholders.the news itself sent tesla’s share price up three percent in pre-market trading. the purchase was arranged on march 17, and those now-tencent-owned shares are worth around $2.2 billion at current market value.tencent is a prolific investor. it holds equity in snap, this year’s hot tech ipo, among others following an early investment. while that interest in messaging makes sense since tencent’s operates china’s dominant chat app — wechat — it isn’t immediately clear whether the tesla investment has strategic undertones. others in its portfolio include didi chuxing,






chinese internet giant tencent buys 5% of tesla


tencent, asia’s second highest valued tech firm, has bought a five percent share in tesla. according to a filing, the chinese firm scooped up 8,167,544 shares for around $1.7 billion to become one of tesla’s largest shareholders.the news itself sent tesla’s share price up three percent in pre-market trading. the purchase was arranged on march 17, and those now-tencent-owned shares are worth around $2.2 billion at current market value.tencent is a prolific investor. it holds equity in snap, this year’s hot tech ipo, among others following an early investment. while that interest in messaging makes sense since tencent’s operates china’s dominant chat app — wechat — it isn’t immediately clear whether the tesla investment has strategic undertones. others in its portfolio include didi chuxing,






google inks patent deal with tencent


google has yet more news from china after the u.s. search firm announced a patent cross-licensing agreement with chinese tech giant tencent.the terms were not disclosed, but google said the tie-in with tencent, which is valued at over $500 billion, covers “a broad range of products and technologies” and is “long-term.” the two firms pledged to work together on future innovation and technology.“we’re pleased to enter into a patent cross-license with tencent. by working together on agreements such as this, tech companies can focus on building better products and services for their users,” google’s head of patents mike lee said in a statement.google’s core search service remains blocked in china, but this announcement follows a string of developments that have seen the firm ramp up in other a






google inks patent deal with tencent


google has yet more news from china after the u.s. search firm announced a patent cross-licensing agreement with chinese tech giant tencent.the terms were not disclosed, but google said the tie-in with tencent, which is valued at over $500 billion, covers “a broad range of products and technologies” and is “long-term.” the two firms pledged to work together on future innovation and technology.“we’re pleased to enter into a patent cross-license with tencent. by working together on agreements such as this, tech companies can focus on building better products and services for their users,” google’s head of patents mike lee said in a statement.google’s core search service remains blocked in china, but this announcement follows a string of development that have seen the firm ramp up in other ar






tencent becomes the first chinese tech firm valued over $500b


tencent has became the first chinese company to be valued at more than $500 billion.shares of the 19-year-old company, which is listed on the hong kong stock exchange, rallied to reach hk$418.80 to give it a market cap of hk$3.99 billion which takes past the $500 billion mark. close rival alibaba is asia’s second-highest-valued firm at $474 billion.entry to the half-a-trillion-dollar club — which includes apple, alphabet, facebook, microsoft and amazon — comes a week after tencent posted a profit of 18 billion rmb ($2.7 billion) on revenue of 65.2 billion rmb ($9.8 billion) for q3 2017. overall profit was up 69 percent year-on-year and revenue rose by 61 percent thanks to tencent’s games businessas scmp pointed out, a us$9,000 investment in the company’s 2004 ipo would now be worth us$1 mi






tencent becomes the first chinese tech firm valued over $500b


tencent has become the first chinese company to be valued at more than $500 billion.shares of the 19-year-old company, which is listed on the hong kong stock exchange, rallied to reach hk$418.80 to give it a market cap of hk$3.99 trillion which takes past the $500 billion mark. close rival alibaba is asia’s second-highest-valued firm at $474 billion.entry to the half-a-trillion-dollar club — which includes apple, alphabet, facebook, microsoft and amazon — comes a week after tencent posted a profit of 18 billion rmb ($2.7 billion) on revenue of 65.2 billion rmb ($9.8 billion) for q3 2017. overall profit was up 69 percent year-on-year and revenue rose by 61 percent thanks to tencent’s games businessas scmp pointed out, a us$9,000 investment in the company’s 2004 ipo would now be worth us$1 m






china’s tencent, jd buy into wanda’s shopping empire


an investor group that includes china’s tencent holdings ltd. and online retailer jd.com inc. jd -1.11% is spending 34 billion yuan ($5.37 billion) for a 14% stake in chinese billionaire wang jianlin’s commercial-property company as he faces a deadline to relist the business in china.wanda, china’s largest mall developer, is benefiting from an escalating war for consumers and data between tencent and alibaba group holding ltd. baba -1.08% , the country’s two largest internet companies. alibaba has already established several partnerships with department-store and supermarket chains in china, and is seeking to integrate online retail with physical stores.tencent has invested in alibaba’s online shopping rival jd.com, and the deal announced monday gives both a partner in china’s shopping-mal






tencent: big in china, looking abroad


tencent holdings ltd. is the most valuable company in china, but its $1.8 billion investment in tesla inc. highlights ambitions beyond its home turf and the social-media and videogame businesses for which it is best known.in china, tencent is a behind-the-scenes fixture of daily life. the company’s wechat, known in the country as weixin, has 889 million monthly active users who trade messages, order and pay for meals, book...






china's tencent acquires minority stake in skydance media


the deal gives skydance, founded and by david ellison (son of oracle founder larry ellison), a powerful partner with massive reach among online consumers in china, the world's second-largest movie market. along with marketing prowess and capital, the investment gives skydance access to tencent's expertise in the gaming industry, the companies said.






china’s tencent, jd buy into wanda’s shopping empire


an investor group that includes china’s tencent holdings ltd. and online retailer jd.com inc. is spending 34 billion yuan ($5.37 billion) for a 14% stake in chinese billionaire wang jianlin’s commercial-property company as he faces a deadline to relist the business in china.wanda, china’s largest mall developer, is benefiting from an escalating war for consumers and data between tencent and alibaba group holding ltd., the country’s two largest internet companies. ...






nintendo deal with tencent paves way for china push


for all its global popularity, nintendo co. has had relatively limited business in china. now a deal with tencent holdings ltd. has investors excited at the prospect that nintendo’s switch console and smartphone games could take off in one of the world’s biggest game markets.nintendo shares shot up by more than 7% to a nine-year high tuesday as investors welcomed its deal to put one of china’s most popular videogames—tencent’s...






tencent music, spotify in talks to swap stakes ahead of planned listings


the music group of chinese internet giant tencent holdings ltd. and sweden’s spotify ab are in talks to swap stakes of up to 10% in each other’s businesses ahead of their expected public listings next year, according to people familiar with the matter.the deal would align the two services in future licensing negotiations with the major music labels—and offers potentially lucrative returns from their public listings, which are expected to value both in the billions of dollars, these people said....






china’s tencent invests in video, ai and mobile payments, as earnings soar


hong kong—tech titan tencent holdings ltd. indicated it was doubling down on investments in china’s mobile-first world to ensure it remains a central presence on the smartphones carried by nearly 800 million chinese users. tencent executives signaled they remained bullish on investments in video, artificial intelligence and mobile payments. “many of the current achievements are really results from investments we made years ago,” said tencent president martin lau at a wednesday press conference. ...






tencent and jd.com invest $863m into e-commerce firm vipshop to battle alibaba


tencent, the internet giant that recently became asia’s first $500 billion company, is continuing its investment spree after it agreed to buy $604 million in shares of chinese online retailer vipshop.the deal is being made with long-time partner jd.com, which will invest $259 million into vipshop, which is listed on the new york stock exchange. that takes the total between the two to $863 million.the duo are paying a 55 percent premium for the stock, which will give tencent a seven percent share and jd.com a 5.5 percent share in vipshop. the investments will also allow each firm to appoint a board member based on shareholding terms following a two-year lock-up period.vipshop is best-known as an online discount retailer for brands, with a particular focus on the fashion space. it went publi






china’s tencent buys 5% stake in tesla


tencent holdings ltd. has bought a 5% stake in tesla inc., making china’s most valuable company one of the largest owners of elon musk’s cash-hungry electric car maker.the internet giant paid about $1.8 billion to take the stake in tesla this month, according to a filing, amid mr. musk’s recent push to raise money. the move puts tencent among...






tencent opens u.s. data center as american rivals face hurdles in china


chinese internet company tencent holdings ltd. opened its first data center in silicon valley this week, expanding cloud-computing services into the u.s. even as american companies complain they face growing restrictions when doing the same in china.with wednesday’s statement, tencent becomes the second chinese company to open such a center in the u.s.’s technological heartland. alibaba group holding ltd., china’s largest e-commerce...






tencent opens u.s. data center as american rivals face hurdles in china


chinese internet giant tencent holdings opened its first data center in silicon valley this week, expanding cloud computing services into the u.s. even as american companies complain they face growing restrictions when doing the same in china.with wednesday’s statement, tencent becomes the second chinese company to open such a center in the u.s.’s technological heartland. alibaba group holding, china’s largest e-commerce company,...






china’s tencent casts wide net in search for tech’s next big thing


hong kong—in its quest to expand its global reach, tencent holdings ltd. has quietly become china’s top corporate investor in silicon valley, pouring money into everything from electric cars to moonshot ventures such as space tourism and asteroid mining.tencent’s best-known investments are gaming companies , including “clash of clans” maker supercell oy of finland and “league of legends” maker riot games inc. but the internet giant...






what does china’s tencent want with silicon valley?


hong kong—in its quest to expand its global reach, tencent holdings ltd. has quietly become china’s top corporate investor in silicon valley, pouring money into everything from electric cars to moonshot ventures such as space tourism and asteroid mining.tencent’s best-known investments are gaming companies, including “clash of clans” maker supercell oy of finland and “league of legends” maker riot games inc. but the internet giant...






china’s tencent buys 12% stake in snap


less than a day after snap inc. posted weak results that sent its shares plunging, the struggling social-media and camera company disclosed that chinese internet giant tencent holdings ltd. recently bought a 12% stake, becoming one of its largest shareholders.tencent, an early pre-ipo backer of snap, acquired roughly 146 million of its shares in the public market, snap said in a filing wednesday. the purchase adds to an investment tencent made in snap in 2013 during a fundraising round before the company went public. tencent’s...






tencent’s online publishing arm files for ipo in hong kong


hong kong has secured its second high-profile tech ipo inside a week. following on from gaming firm razer, which filed its prospectus on friday, tencent’s online publishing service has followed suit with plans for a hong kong ipo.china literature is akin to amazon’s kindle service, with 8.4 million pieces of content from more than five million writers. it counts 175.3 million monthly users across all services, of which more than 90 percent are on mobile.the service is being spun out of tencent, asia’s highest valued tech firm, which currently owns a 65 percent share of the business. tencent plans to sell part of its equity for the listing, but it seeking to retain at least 50 percent control as china literature becomes a subsidiary.the company recorded 2.6 billion rmb ($377 million) in rev






social music startup smule raises $54m for asian expansion


smule, maker of sing! karaoke and other social music apps, announced yesterday that it has raised $54 million in a round led by chinese company tencent.adams street partners, bessemer ventures, floodgate, franklin templeton and shasta ventures also participated in the funding. reuters reported that the round valued the company at $604 million, setting up smule to expand in asia and potentially to go public.smule ceo jeff smith is weirdly optimistic about the music industrysocial music app-maker smule raises another $16.6mfounded in 2008, smule’s apps allow users to share different types of musical performances with others, and the company says it now has 52 million monthly active users. ceo jeff smith has said his vision is to “build a social network around music” while also helping to pro






carrefour, chinese tech giant tencent form alliance


beijing — carrefour and chinese technology giant tencent have announced a cooperation agreement in china and a possible investment to develop online retailing and other technology.the companies said tuesday they want to link carrefour's global retail knowledge and the technology strengths of tencent, which operates the popular wechat social media platform and other online services.the companies said tencent and yonghui, a chinese supermarket operator in which tencent is buying a stake, were consider a "potential investment" in carrefour's china unit.the tie-up adds to a series of ventures by major retailers including amazon.com and wal-mart aimed at combining the strengths of online and offline retailing.






tencent and education startup age of learning bring popular english-learning app


tencent is teaming up with los angeles-based education company age of learning to launch an english education program for kids in china. abcmouse, age of learning’s flagship product, has been localized and will be available as a website and an ios and android app in china, with tencent handling product development, marketing, sales and customer support.the new partnership extends tencent’s involvement in ed-tech, which already includes a strategic investment in vipkid, an online video tutoring platform that connects chinese kids with english teachers and competes with qkids and dada abc. abcmouse, on the other hand, uses videos, books and online activities like games, songs and stories to help kids study english.the chinese version of abcmouse includes integration with tencent’s ubiquitous






china’s tencent buys 5% stake in tesla


tencent holdings ltd. has taken a 5% stake in tesla inc., making china’s most valuable company one of the largest owners of elon musk’s cash-hungry electric car maker.the internet giant paid about $1.8 billion to take the passive stake in tesla this month, according to a filing, amid mr. musk’s recent push to raise money. the move puts tencent among the biggest owners of tesla’s shares, according to the latest publicly available...






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-q sec filing for its quarterly results that were announced yesterday, snap disclosed that tencent has acquired another 145,778,246 shares of class a common stock in open-market trades, which works out to roughly 12 percent of the company.this is non-voting stock, and so it means that we will not get much visibility from tencent and snap when and if these shareholdings change further, as they will not need to be reported to the sec.“tencent and snap a






india-based music streaming service gaana raises $115m led by tencent


chinese internet giant tencent is continuing to put its money in india and in music streaming services after it agreed to lead a $115 million investment in india’s gaana.gaana is a music streaming service that was started by times media, the company behind the times of india newspaper and tech incubator times internet among other things, seven years ago. gaana didn’t reveal its user metrics, but ceo prashan agarwal said the company is “only 10 percent of the way towards building a business useful for 500 million indians.”the company plans to use this new capital develop artificial intelligence to create more personalized services and features for listeners. it said also it will develop its paid-user service, too. aside from a spotify-like subscription offering, it also provides an ad-based






tencent expands its cloud-computing services in u.s.


chinese internet giant tencent holdings opened its first data center in silicon valley this week, expanding cloud computing services into the u.s. even as american companies complain they face growing restrictions when doing the same in china.with wednesday’s statement, tencent becomes the second chinese company to open such a center in the u.s.’s technological heartland. alibaba group holding, china’s largest e-commerce company,...






china’s tencent buys 5% stake in tesla


tencent holdings ltd. has bought a 5% stake in tesla inc., making china’s most valuable company one of the largest owners of elon musk’s cash-hungry electric car maker.the internet giant paid about $1.8 billion to take the stake in tesla this month, according to a filing, amid mr. musk’s recent push to raise money. the move puts tencent among the biggest owners of tesla’s shares, according to the latest publicly available data....






china’s tencent posts 58% jump in first-quarter profit


chinese internet giant tencent holdings ltd. reported a steep rise in profit and revenue in the first quarter, notching solid growth in its core gaming and online-advertising businesses.tencent, china’s largest company by market capitalization and the world’s biggest videogame publisher by revenue, operates the popular social-media app wechat. its share price has soared 36% this year.the company said higher revenue from some...






tencent could play a role redesigning snapchat following $2b investment


tencent, the chinese internet giant valued at $470 billion, may have a hand in rebooting the snapchat app to make it more competitive with instagram and facebook.off the back of some very poor financials announced this week, parent company snap said it is retooling the messaging app “to make it easier to use.”now tencent, which upped its stake in snap with the purchase of 12 percent of the company — forking out around $2 billion in the process — may be on hand to help. it said is positioned to enable snap to dig into its experience of growing wechat, china’s dominant messaging app which boasts 800 million monthly users worldwide, and potentially tap into other business lines, including its games business which includes clash of clans maker supercell.“the investment enables tencent to explo






china’s tencent posts 58% jump in first-quarter profit


hong kong—chinese internet giant tencent holdings ltd. reported a steep rise in profit and revenue in the first quarter, notching solid growth in its core gaming and online-advertising businesses.tencent, china’s largest company by market capitalization and the world’s biggest videogame publisher by revenue, operates the popular social-media app wechat. its share price has soared 36% this year.the company said higher revenue...






nintendo surges on prospect of greater access to china


for all its global popularity, nintendo co. has had relatively limited business in china. now, a deal with tencent holdings ltd. has investors excited at the prospect of the japanese company’s switch console and smartphone games taking off in one of the world’s biggest game markets.nintendo shares shot up 7.1% to a nine-year high tuesday on word that one of china’s most popular videogames—tencent’s “honor of kings”—will be available...






tencent set to launch steam competitor 'wegame'


why it matters to you tencent has quietly become the industry leader in revenue, and now it has its sights set on steam.tencent, the lucrative chinese investment holding firm, is set to launch “wegame,” a digital storefront for pc games that looks to be a steam competitor.wegame was uncovered by daniel ahmad (via polygon), an analyst at niko partners who covers the games market in china.the tencent games platform is already extremely successful in china, as it boasts more than 200 million active users, according to ahmad. wegame, however, signals tencent’s hopes for a global reach. it will support users both in china and across the world, feature localizations, and perhaps most importantly, offer a singular storefront. developers and users will be able to interact on wegame, although it’s






tencent and education startup age of learning bring popular english-learning app


tencent is teaming up with los angeles-based education company age of learning to launch an english education program for kids in china. abcmouse, age of learning’s flagship product, has been localized and will be available as a website and an ios and android app in china, with tencent handling product development, marketing, sales and customer support.the new partnership extends tencent’s involvement in ed-tech, which already includes a strategic investment in vipkid, an online video tutoring platform that connects chinese kids with english teachers and competes with qkids and dada abc. abcmouse, on the other hand, uses videos, books and online activities like games, songs and stories to help kids study english.the chinese version of abcmouse includes integration with tencent’s ubiqutioiu






india-based music streaming service gaana raises $115m led by tencent


chinese internet giant tencent is continuing to put its money in india and in music streaming services after it agreed to lead a $115 million investment in india’s gaana.gaana is a music streaming service that was started by times media, the company behind the times of india newspaper and tech incubator times internet among other things, seven years ago. gaana didn’t reveal its user metrics, but ceo prashan agarwal said the company is “only 10% of the way towards building a business useful for 500 million indians.”the company plans to use this new capital develop artificial intelligence to create more personalized services and features for listeners. it said also it will develop its paid-user service, too. aside from a spotify-like subscription offering, it also provides an ad-based servic






india-based music streaming service gaana raises $115m led by tencent


chinese internet giant tencent is continuing to put its money in india and in music streaming services after it agreed to lead a $115 million investment in india’s gaana.gaana is a music streaming service that was started by times media, the company behind the times of india newspaper and tech incubator times internet among other things, seven years ago. gaana didn’t reveal its user metrics, but ceo prashan agarwal said the company is “only 10 percent of the way towards building a business useful for 500 million indians.”the company plans to use this new capital develop artificial intelligence to create more personalized services and features for listeners. it said also it will develop its paid-user service, too. aside from a spotify-like subscription offering, it also provides an ad-based






tencent increases its focus on artificial intelligence


when it comes to artificial intelligence (ai) and chinese tech companies, thoughts often begin and end with baidu. but tencent, asia’s second highest-valued tech company behind alibaba, has reminded the world that it too is investing in the field.search giant baidu was one of the first to make a major commitment to deep learning. it spent over $2.9 billion on r&d over a 2.5 year period, according to bloomberg, and currently has more than 1,300 specialists working on a variety of technologies that include ai and augmented reality. baidu, however, suffered a blow when its chief scientist andrew ng, who heads up its u.s.-based research team, announced his departure last week.there’s one more exit to add to that list after tencent announced today that it poached machine learning researcher ton






tencent increases its focus on artificial intelligence


when it comes to artificial intelligence (ai) and chinese tech companies, thoughts often begin and end with baidu. but tencent, asia’s second highest-valued tech company behind alibaba, has reminded the world that it too is investing in the field.search giant baidu was one of the first to make a major commitment to deep learning. it spent over $2.9 billion on r&d over a 2.5 year period, according to bloomberg, and currently has more than 1,300 specialists working on a variety of technologies that include ai and augmented reality. baidu, however, suffered a blow when its chief scientist andrew ng, who heads up its u.s.-based research team, announced his departure last week.there’s one more exit to add to that list after tencent announced today that it poached machine learning researcher ton






china’s tencent buys 12% stake in snap


less than a day after snap inc. posted weak results that sent its shares plunging, the struggling social-media and camera company disclosed that chinese internet giant tencent holdings ltd. had recently bought a 12% stake, becoming one of its largest shareholders.tencent, an early pre-ipo backer of snap, acquired roughly 146 million of its shares in the public market, snap said in a filing wednesday. the purchase adds to an investment tencent made in snap in 2013 during a fundraising round before the company’s initial public...






tencent continues to snap up stakes in u.s. startups


tencent holdings ltd., the rapidly growing chinese internet giant, is proving a welcome source of capital to america’s fledgling companies, with snap inc. the latest beneficiary of its deep pockets.tencent, one of the world’s most valuable technology companies and best known in china for its wechat messaging app, recently purchased a 12% stake in snap in the open market, becoming one of its largest shareholders, snap revealed wednesday....






chat app kakao’s games business lands $130m from tencent and others ahead of ipo


korea’s dominant messaging firm kakao is back raising funds after its games business, a standalone unit that is headed for an ipo, pulled in $130 million (140 billion krw) from tencent and a range of other strategic investors.the company, which owns korea’s top mobile messaging app and one of the country’s largest internet portals, operates a sprawl of business that include taxi-hailing, deliveries, comics, payments and more. it has adopted the spin-out approach favored by chinese tech firms for a number of these entities, with kakao taxi — for example — raising more than $400 million from outside investors last year.recently, kakao itself completed a placement in singapore which netted the parent firm $1 billion for international growth, and now it is the turn of its games business.kakao






tesla gets backing of chinese internet giant tencent


tencent holdings ltd. bought a 5% stake in tesla inc., giving the backing of china’s most valuable company to the silicon valley electric-vehicle maker as it prepares to launch its first car aimed at the mass market.the $1.8 billion tencent paid makes it tesla’s fifth-largest shareholder, according to data from s&p capital iq. it marks a vote of confidence in tesla chief executive elon musk at a time when he faces questions...






tencent leads $350m investment in chinese photo/streaming app kuaishou


we reported last month that china-based photo app firm kuaishou is gearing up for an ipo in the u.s. later this year. well the company, which also offers live-streaming video in its service, has stopped to refuel its tanks first after it raised $350 million in fresh funding led by chinese internet giant tencent.tencent, asia’s highest valued tech company, confirmed to techcrunch that it led the financing as a new investor. it didn’t, however, disclose whether existing backers — which include baidu, sequoia and dcm — also participated in the round, which was first reported by bloomberg. in our previous report we said the company’s valuation had reached $3 billion, but neither it nor its investors are commenting on that figure.kuaishou was founded in 2011 and it began life as a destination f