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Tencent wants to work with Snap on games, news feed

Published 11/08/2017, 10:43 PM
© Reuters. Tencent wants to work with Snap on games, news feed
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  • China's Tencent (OTCPK:TCEHY) -- running in the direction opposite most investors and adding 10% to its stake in Snap (SNAP -14.6%) -- wants to play to its expertise and work on games together.
  • In a Thursday statement, the Chinese tech giant said it would like to collaborate with the beleaguered social media/camera company on mobile games publishing as well as as social news feed.
  • Those aren't part of Snapchat now, though Snap is boldly launching a redesign of its core experience after suffering some painful financial results.
  • As for that redesign, it's set to come out on Dec. 4, Business Insider says, and it could have heavy layout changes that would have an effect on Snap's publishing partners.
  • It will still open to the camera, but with the mantra being "easier to use," many investors are interpreting that as "skewing to older users" -- which could help lead it to more Facebook-like success (FB -0.4%), or alienate a core youth user base.
  • Previously: Snap slides 17.9% as analysts stack up post-earnings cautions (Nov. 08 2017)
  • Previously: Snap drops 19.1% after revenues, users fall short of expectations (Nov. 07 2017)
  • Now read: Snap: Why Are Investors So Surprised?


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