China's Largest Internet Company Wants To Invest In Snapchat
Nov 6, 2013, 18:39 IST
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Tencent Holdings, which is the third largest Internet company in the world and operates the largest social network in China, is "vying to lead a fundraising round of $200 million" in Snapchat, according to The Wall Street Journal. If Snapchat raises that amount, it will value the company (which has generated no revenue) at $4 billion. Financial incentives aside, Snapchat could benefit greatly from an investor that has a thorough understanding of social media habits in China - the world's largest audience of social media users. What's more, messaging apps such as WeChat and LINE have exploded in popularity in Asia, which is a promising sign for Snapchat's user growth in the region. (Wall Street Journal) In Other News … Social media management company Sprinklr raised $17.5 million in a new round of funding. (Mashable) Larry Kim, a marketer and CEO of Wordstream, argues that Facebook is a poor performer when it comes to ad performance for direct response marketing, but that Twitter is even worse. (Business Insider) Tech blogger Om Malik, who was an early user of Twitter, says the service risks losing its "folksy charm" when it goes public. What's more, all of the company's founders now have other projects they are working on, and thus, the company risks losing its original startup culture (something Zuckerberg has tried to maintain at Facebook). (GigaOM) MoPub's CEO Jim Payne sat down for a Q&A with Charlie Rose (Rose mispronounced the company's name on two occasions, referring to it as "moped"). (AdExchanger) Katy Perry is now the most popular person on both Twitter and Facebook, uncrowning Justin Beiber. (Entertainment Weekly)