According to CNBC's report, Tencent CEO Liu Tenping, executive chairman of Tencent, said at a earnings conference call on Wednesday that Tencent hopes to establish a closer relationship with Snap.
Tencent announced last week that it has invested 10% of the well-known social software parent Sina Corp. and is now one of Snap's biggest shareholders. Tencent's first investment in Snap was actually in 2013.
Liu Chih-ping said: 'We have actually invested Snap long ago, and for many years we have been impressed with their innovation and progress, so we have always maintained a very good relationship.'
According to CB Insights, Tencent rival Alibaba also invested $ 200 million in Snap in 2015, the first time the two companies have co-invested in a company, but Snap shares have been falling recently Third-quarter earnings drag, Snap shares fell 40% at first, but fell 25% last month.
According to CNBC's report, Tencent CEO Liu Tenping, executive chairman of Tencent, said at a earnings conference call on Wednesday that Tencent hopes to establish a closer relationship with Snap.
Tencent announced last week that it has invested 10% of the well-known social software parent Sina Corp. and is now one of Snap's biggest shareholders. Tencent's first investment in Snap was actually in 2013.
Liu Chih-ping said: 'We have actually invested Snap long ago, and for many years we have been impressed with their innovation and progress, so we have always maintained a very good relationship.'
According to CB Insights, Tencent rival Alibaba also invested $ 200 million in Snap in 2015, the first time the two companies have co-invested in a company, but Snap shares have been falling recently Third-quarter earnings drag, Snap shares fell 40% at first, but fell 25% last month.
