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Posts Tagged ‘snap’

China’s Tencent is raising $6 billion through a bond sale

Tencent, Asia’s largest tech firm, is raising $6 billion after the Hong Kong-listed firm announced a new note sale today. Tencent last tapped the markets when it raised $5 billion in January 2018. This time around, it is offering a five-tranche bond that is almost in line with reports earlier this week, which speculated that ...

Tencent Q4 profit disappoints, but cloud and payments gain ground

China’s Tencent reported disappointing profits in the fourth quarter on the back of surging costs but saw emerging businesses pick up steam as it plots to diversify amid slackening gaming revenues. Net profit for the quarter slid 32 percent to 14.2 billion yuan ($2.1 billion), behind analysts’ forecast of 18.3 billion yuan. The decrease was ...

Camera maker Insta360 raises $30M as it eyes 2020 IPO

Insta360, one of the pioneers in making 360-degree cameras, just raised $30 million in a Series C+ funding round from Chinese investors, including Everest Venture Capital, MG Holdings and Huajin Capital. The Shenzhen-based camera maker declined to disclose its latest valuation. It plans to use the fresh proceeds in research and development, marketing and after-sales services ...

No, Tencent isn’t about to burn Reddit down

Ahoy, it’s doom and gloom for Reddit after the company welcomed investment from Chinese censorship overlord Tencent. Well, not quite. The reality is, in fact, it’s quite the opposite. In recruiting the company behind one of the internet’s largest and vibrant social networks — chat app WeChat — and countless blockbuster games, Reddit has pulled off ...

Snap’s exec team continues to shrink as more reports of internal drama surface

Days after Snap announced the departure of its CFO, reports have emerged that the company’s HR chief was asked to leave following an internal investigation late last year that had led to the firing of its global security head. The Wall Street Journal is reporting that Snap fired global security head Francis Racioppi late last ...

Snap CFO Tim Stone is resigning

Snap CFO Tim Stone is leaving the company, according to documents Snap filed with the SEC today. “Tim has made a big impact in his short time on our team and we are very grateful for all of his hard work,” Snap CEO Evan Spiegel wrote in a memo, obtained by TechCrunch, to employees. “I ...

TikTok is giving China a video chat alternative to WeChat

ByteDance, the world’s most-valued startup, just launched a new social media product under its Douyin brand in what many people see as a serious attempt to challenge WeChat. Tencent has long dominated China’s social networking space with WeChat and QQ. WeChat claims to have one billion monthly active users worldwide, most of whom are in China. ...

China’s WeChat is the latest to get Snap-like ‘Stories’

WeChat, the Chinese messaging giant with over 1 billion monthly active users around the world, just added a Snap-like ephemeral video feature as part of its biggest overhaul since 2014. The revamp comes as Tencent, which owns stakes in Snap, sees increasing rivalry from up-and-comers like video app TikTok and news app Jinri Toutiao. WeChat has ...

Still a year away from launch, Meg Whitman and Jeffrey Katzenberg’s Quibi keeps adding talent

Video won’t start rolling on Meg Whitman and Jeffrey Katzenberg’s new bite-sized streaming service with the billion dollar backing until the end of 2019, but talent keeps signing up to come along for their ride into the future of serialization. The latest marquee director to sign on the dotted line with Quibi is Catherine Hardwicke, ...

Snapchat’s rumored Spectacles 3 has us worried about the company’s priorities

11.20.2018 · Posted in Technology Articles

If at first you don't succeed, try, try again. This seems to be the guiding principle for Snap Inc.'s relentless pursuit to make its Spectacles camera glasses A Thing. Despite two versions of Spectacles, each of which got a lukewarm response, the com... ...