WeChat owner Tencent snapped up another 12% of Snap this month

WeChat owner Tencent snapped up another 12% of Snap this month
 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. 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. In a 10-Q SEC filing for its quarterly… Read More