Momo buys Tantan, China’s Tinder, for $600M as Chinese social networks consolidate

 WeChat is far and away the biggest messaging platform in China at the moment, and that is helping to drive a push among the smaller players to get together for better scale. Today, Momo, the Chinese location-based social networking app that has more recently made a big push into dating services and is traded on Nasdaq with a market cap of around $6 billion, announced that it has… Read More

from Social – TechCrunch https://techcrunch.com/2018/02/23/momo-buys-tantan-chinas-tinder-for-600m-as-chinese-social-networks-consolidate/?ncid=rss
via Superb Summers

Advertisements

Snap CEO Evan Spiegel got a $637 million bonus last year

 Snap’s stock investors haven’t made much money since the company went public last year, but CEO Evan Spiegel still got a hefty payday. According to an SEC filing, he was granted an RSU of 37,447,817, which vested at the time of the IPO. In other words, that was worth nearly $636.6 million. His salary for the year was $98,078, and he had over $1 million in other benefits, so all in… Read More

from Social – TechCrunch https://techcrunch.com/2018/02/22/snap-ceo-evan-spiegel-got-a-637-million-bonus-last-year/?ncid=rss
via Superb Summers

Snap stock sinks as Kylie Jenner says she doesn’t use Snapchat anymore

 At this point, if you haven’t accepted the celebrity influence of the Kardashian/Jenner machine, you probably haven’t been paying attention to pop culture at large. Snap is definitely paying attention. Yesterday, Kylie Jenner tweeted a pretty brutal takedown of Snapchat with the nonchalance that only a celebrity who has mastered social media better than most can do. Read More

from Social – TechCrunch https://techcrunch.com/2018/02/22/snap-stock-sinks-as-kylie-jenner-says-she-doesnt-use-snapchat-anymore/?ncid=rss
via Superb Summers