Tag: Tencent

  • A private equity bet in Latin America proves the strength of fintech investments there

    Latin America is getting another fintech unicorn thanks to Advent International’s acquisition of a 51 percent stake of Prisma Medios de Pago, an Argentine payments company formed as a joint venture between Visa International and local banks. The deal, which values Prisma at $1.42 billion, is yet another sign of Latin America’s growing prominence for […]

  • TikTok is giving China a video chat alternative to WeChat

    ByteDance, the world’s most-valued startup, just launched a new social media product under its Douyin brand in what many people see as a serious attempt to challenge WeChat. Tencent has long dominated China’s social networking space with WeChat and QQ. WeChat claims to have one billion monthly active users worldwide, most of whom are in China. […]

  • Nexon founder hints at plan to sell his $9B majority share in gaming giant

    The founder of Korea’s Nexon, one of the biggest gaming companies on the planet, today appeared to acknowledge his intention to sell his controlling interest for around $9 billion. The divestment has been a hot rumor after a via Reutersfresh from overturning a bribery charge last year

  • Tencent-backed fleet manager G7 racks up $320M in funding

    A sizable funding round is poised to heat up a race to automate China’s logistics infrastructure. Beijing-based fleet management company G7 announced on Monday that it has banked $320 million to drive technological development, bringing its total capital raised to around $500 million. G7, which runs a proprietary connected platform for trucks, shippers, fleet manager and […]

  • Tencent is launching its own version of Snap Spectacles

    Some were surprised to see Snap release a second version of its “face-camera” Spectacles gadget, since the original version failed to convert hype into sales. But those lackluster sales — which dropped to as low as 42,000 per quarter — didn’t only fail to dissuade the U.S. social firm from making more specs, because now […]

  • Latin Americas Movile is quietly building a mobile empire

    Nathan Lustig By 2020, Brazilian mobile giant, , wants to improve the lives of more than one billion people through its apps. The company began its mission in 1998 selling gaming, news and SMS messaging services to mobile operators in Brazil. After receiving its first investment from South African-based global investor 10 years ago, Movile […]