investment

Ephemeral messaging app Snapchat reached 100 million monthly active users, as its maker secured a new round of funding that values the company at $10 billion, according to The Wall Street Journal.

The deadline for the completion of the deal for Telecom Italia to sell its stake in Telecom Argentina has been put back to 1 September. Telecom Italia agreed in November last year to sell its 22.

Kabam, the publisher of free-to-play mobile games, secured a $120 million investment from Alibaba, as part of what was said to be a strategic collaboration with the Chinese e-commerce giant.

Snapchat, the company that has defined ‘ephemeral messaging’, is reportedly in discussions about possible investment from companies including Chinese e-commerce giant Alibaba that would value it at $10 billion.

Nokia created a $100 million fund which it plans to invest in the development of connected car technology.

Chinese web giant Tencent expanded its mobile gaming capability by investing $500 million to acquire a 28 per cent stake in South Korea’s CJ Games.

Chinese infrastructure vendor ZTE is to invest US$30 million in the US market despite government recommendations for US companies to avoid working with the company.