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Tencent buys 12% stake in Snap

Snapchat developer said Tencent bought 145.8 million non-voting shares in the company

Reuters 

Tencent Holdings has taken a 10 per cent stake in social media software maker Snap. . In an SEC filing Wednesday, the Snapchat developer said Tencent bought 145.8 million non-voting shares in the company. Snap said Tuesday it’s redesigning its mobile application to reach a broader audience and make more money from ads, as third-quarter financials showed sales growth keeps lagging investor expectation.

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First Published: Thu, November 09 2017. 03:04 IST
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