More corporations, ranging from General Motors Co. to Sesame Street, are investing in technology companies. Asia’s tech titans are taking this investment splurge to a different level.
Snapchat parent company Snap Inc. disclosed Wednesday that China’s Tencent Holdings Ltd. bought roughly $2 billion in Snap stock recently. Tencent put money into Snapchat years before its March IPO, but this was something else: a big, passive investment in a publicly traded company. It’s hard to imagine Facebook Inc. or Google doing the same with a public tech company in Asia.
Advertisements
