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Yesterday, Snap reported revenues of $207.9 million and a non-GAAP loss of $0.14 per share, a miss on both counts: analysts had estimated $237 million in revenue and a loss of $0.15 EPS.

(It has made a little headway on the commercial front: we revealed last week that it had quietly acquired ad tech firm Metamarkets to improve its analytics, measurement and ad buying capabilities.)įor Tencent, despite the problems, Snap still represents a major opportunity to sink its teeth into a service that has very little overlap with its current business, and a lot of potential promise if Snap can fix some of its issues. Other challenges include the app’s ease of use, both from the perspective of users and would-be advertisers, issues that Snap has vowed it will try to improve in the months ahead. It’s proven very hard for Snapchat to grow usage and revenues from its image-based messaging app - not least because of a huge amount of competition from the likes of Facebook and its companion apps Instagram, Messenger and WhatsApp as well as a number of other apps. Snap is down 7 percent in pre-market trading today, so the impact of the share purchase may be less impactful on improving its share price, as it is a sign that a significant and strategic investor may be seizing an opportunity to buy up more of a company it believes in, at a time when it’s relatively a good deal to do so. “For its part, Martin Lau, Tencent’s President, informed us that Tencent is excited to deepen its shareholding relationship with us, and that it looks forward to sharing ideas and experiences.” “We have long been inspired by the creativity and entrepreneurial spirit of Tencent and we are grateful to continue our longstanding and productive relationship that began over four years ago,” it writes. It was also once described as a “ role model” by Snap’s CEO and co-founder Evan Spiegel, a sentiment that was echoed in the filing released today: Tencent was also at one point rumored to be one of the companies interested in acquiring the Snapchat as part of its wider global ambitions, and specifically to expand more into the U.S. Further investments from Tencent have never been confirmed.

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Tencent took part in at least one funding round, a Series B of $60 million disclosed in 2013, around the time of reports that it was interested in investing in a subsequent round.

Significantly, it also means that we don’t know what Tencent’s total holdings in Snap are now, either. The two companies, Tencent and Snap, have long been connected to each other. “Tencent and Snap are not obligated to disclose changes in Tencent’s ownership of our Class A common stock, so there can be no assurance that you, or we, will be notified of any such changes,” Snap writes. Regulatory headwinds hurt its domestic gaming and. 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. Is Tencent Holdings Stock a Buy Now By Leo Sun at 8:00AM Key Points Tencent just posted its slowest sales growth since its IPO. 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. Enjoy group chats that support voice and video calls, photos, videos, and stickers.

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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. ('Connecting over a billion people around the world, WeChat is a free messaging and calling app available on iOS, Android, Windows, and MacOS.

All Rights Reserved.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. Here is a straightforward 4-step guide to help you begin buying crypto with WeChat Pay: Register on the Binance platform and verify your account. Starting in January 2017, Tencent launched mini-programs which are similar to the regular. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. My thesis is that there is nothing like Tencent’s ( OTCPK:TCEHY) WeChat outside of China. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes.

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