Chinese Tencent – takes a major stake in Snapchat

Snap loses engineering head, discloses Tencent’s $2B stake

Snap’s senior VP of engineering will step aside just as the company plans to release a comprehensive overhaul of its signature Snapchat platform. Meanwhile, Snap has disclosed that Chinese internet giant Tencent has accumulated a massive stake in the business via the open market:

Posted on November 9, 2017