Electric cars are set to become an increasingly lucrative investment target, if they continuing enjoying the strong support of global initiatives to lower emissions and put clearer vehicles on roads. So expect more funding like the reported $1 billion that Niobium’s (formerly NextEV) has raised from a host of investors led by Tencent, per Reuters. The Chinese carmaker has already set… Read More
Category: Tencent
Tencent could play a role redesigning Snapchat following $2B investment
Tencent, the Chinese internet giant valued at $470 billion, may have a hand in rebooting the Snapchat app to make it more competitive with Instagram and Facebook.
Off the back of some very poor financials announced this week, parent company Snap said it is retooling the messaging app “to make it easier to use.”
Now Tencent, which upped its stake in Snap with the purchase of 12… Read More
China Literature makes stellar public debut following $1B Hong Kong IPO
China Literature, the e-publishing business backed by Tencent, enjoyed an impressive debut as public company with its share price rising as high double during its first day on the Hong Kong Stock Exchange. The business raised over $1 billion from the listing which saw it spin out from Tencent. The listing price was set to HK$55 and the share valued reached HK$110 in early trading, going on… Read More
Tencent’s online publishing arm set to raise $1B in Hong Kong IPO
Tencent’s China Literature, an Amazon-like e-book business, is continuing the trend of Asian tech IPOs after it announced its public listing in Hong Kong will raise $1.06 billion on Wednesday. The company set the price for its 151,371,800 share offering at HK$55, the top end of its range, and it could sell an additional 22.7 million through a greenshoe option with underwriters. The… Read More
Tencent is reportedly testing its own autonomous driving system
Tencent is making progress on its own autonomous driving system, according to Bloomberg. The report says that Tencent, one of China’s largest tech firms and the maker of WeChat, already has a prototype and is testing the system internally. Read More
WeChat parent company Tencent joins the OpenStack Foundation as a Gold Member
Shenzhen-based Tencent Holdings Limited, the parent company behind extremely popular services like WeChat and QQ, today announced that it is joining the OpenStack Foundation as a Gold Member. OpenStack members at the Gold level pay annual dues of 0.025 percent of their revenue with a minimum of $50,000 per year and a maximum of $200,000 to support the development of the open source cloud… Read More