LINE, investment in the image processing camera application "SNOW (Snow)" | BRIDGE (Bridge) Technology & Startup Information
LINE, a message application with more than 200 million users, announced today (the original publication date: September 29), which has invested in another social app, "Snow".Through this investment, LINE will acquire 25 % of his Snapchat -style app SNOW, which can use interesting live filters.
Snow, like LINE, is a popular app mainly in Asia.
The strange thing about this investment (although the details of the investment are not clear), both LINE and SNOW are under the same parent company, NAVER in Korea.Snow is operated by a company called Camp Mobile, spin -off from his Naver, while his NAVER is 80 % of LINE shares.In other words, we exchanged funds among the same family companies.
With Facebook and their two message apps defeating their rivals, LINE, which IPO in July, is struggling with its growth in July with a value of over $ 9 billion.Last year, LINE won only 10 million new users.
[Via Tech in Asia] @Techinasia
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