Subscribe to our free daily newsletters
. 24/7 Space News .




Subscribe to our free daily newsletters



INTERNET SPACE
Twitter purists mourn end of 140-character limit on posts
by Staff Writers
Washington (AFP) Nov 8, 2017


China's Tencent takes 12% stake in Snapchat parent
New York (AFP) Nov 8, 2017 - Snapchat parent Snap Inc. disclosed Wednesday that Chinese tech giant Tencent had taken a 12 percent stake, a sign of confidence in the social network that has delivered disappointing results since its share offering this year.

A securities filing showed Tencent Holdings had purchased some 146 million shares of Snap non-voting stock in open market purchases in November.

Those shares would be worth some $220 million at Snap's current value, or 12 percent of the equity.

Brian Wieser at Pivotal Research said the Tencent investment should not impact Snap's valuation even if it conveys some confidence in the US firm.

"It seems highly unlikely that Tencent would ever be in a position to buy the whole company," he said in a note to clients.

"It seems equally unlikely that Snap would ever be allowed to establish a foothold in China even if their relationship with Tencent were deeper."

Snap, whose social network and disappearing messages has made it a hit with young smartphone users, has seen its share price slump amid disappointing results including another quarterly update Tuesday showing its losses tripled to $443 million.

Snap shares skidded 14.6 percent to close at $12.91, as the news on Tencent did little to stem the decline.

Snap reported the number of daily Snapchat users rose to 178 million in the past quarter, a weaker-than-expected 17 percent increase from a year ago.

Although Snapchat is best known for its smartphone messaging, it has also developed partnerships with numerous media outlets eager to reach its audience with news, video and other content.

Snap executives said they overestimated demand for its Spectacles sunglasses with built-in cameras, losing just shy of $40 million that it will mark down on its books.

- 'We haven't seen inflection' -

Mark Mahaney at RBC Capital Markets downgraded Snap following the earnings, saying growth has been disappointing.

"We still haven't seen an inflection in (user) growth despite substantial product innovation," Mahaney said in a note to clients. "Advertisers go where the eyes are and we need to see further user growth."

Tencent is one of China's largest tech firms, known for its WeChat social network and investments in media, gaming, online content and other segments.

Tencent shares have rocketed 70 percent this year on expectations of continued success in its core games business, which includes the wildly popular "Honour of Kings" and other hits, and on hopes that it will realize the advertising potential of the widely used WeChat.

It was a sad day for Twitter purists, dismayed that the 140-character limit restricting users on the social media platform to crisp, succinct posts had been doubled to a gaudy 280.

And they have been expressing their outrage -- how else? -- with short tweets and hashtags like #140forlife.

"Personally, I enjoyed the challenge of fitting my thoughts into 140 characters!" tweeted Weather Channel meteorologist Maria LaRosa, with the hashtag #lessismore.

"Like some baby boomers still rocking the flip phone, I'll still be rocking #140characters," added Fox News journalist Jim MacKay.

Roger Cox, who handles community relations for the police department in Bellevue, Nebraska, struggled to reach the new limit in a tweet filled with emoticons.

"I don't know what to do with all this extra room. #280characters on @Twitter room to throw a @Twitter party. Wow, still not close to filling this space. The days of #140characters are over. It's #TacoTuesday, did you have tacos today? Still room left."

Twitter rattled the twitterverse on Tuesday when it announced that it was doubling the limit for tweets to 280 characters, in a bid to draw more users and boost engagement.

It is the first time the character cap has been raised since Twitter was founded 11 years ago.

"We want it to be easier and faster for everyone to express themselves," tweeted the site, which started testing an increase to its limit in most languages in early September.

- The Trumps' take on Twitter -

US President Donald Trump, perhaps the world's most powerful Twitter user, has not commented on the policy change but sent a few lengthy tweets from his tour of Asia, including a 217-character post from Beijing on Wednesday in which he thanked Chinese President Xi Jinping and his wife for an afternoon at the famed Forbidden City.

Trump, a prolific tweeter who posts pronouncements both mundane and shocking, and had previously overcome the 140-character limit by stringing together multiple posts in what's been dubbed "tweetstorms."

His eldest son Donald Trump Jr was more hesitant about embracing the new policy.

"@Twitter how about a compromise... you give everybody ONE 280 character a day? 140 was an art form, 280 is everyone's chance to write their Gettysburg Address that no one wants to actually read," he said, referring to president Abraham Lincoln's famous Civil War speech.

The website Slate developed a Google Chrome extension for those clinging bitterly to the old limit, cutting off tweets in a person's feed at 140 characters and imposing the old limit on the user. The extension was called simply "140."

"Eventually (in an hour?) Twitter will find a way to circumvent our extension, we're sure. The army of progress marches forever forward, burning everything good in the world and salting the earth behind it. But at least you can use Slate's 140 to make Twitter great again... for now," the site said.

Meanwhile, America horror writer Stephen King needed only 26 characters to express how he felt: "280 characters? Fuck that."

INTERNET SPACE
China's Tencent takes 12% stake in Snapchat parent
New York (AFP) Nov 8, 2017
Snapchat parent Snap Inc. disclosed Wednesday that Chinese tech giant Tencent had taken a 12 percent stake, a sign of confidence in the social network that has delivered disappointing results since its share offering this year. A securities filing showed Tencent Holdings had purchased some 146 million shares of Snap non-voting stock in open market purchases in November. Those shares woul ... read more

Related Links
Satellite-based Internet technologies


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

INTERNET SPACE
Stressed seedlings in space

Orbital ATK's to deliver supplies to International Space Station

How Does Your Space Garden Grow

NanoRacks Deploys Second Kaber-Class Microsatellite This Week, First On-Orbit Assembly

INTERNET SPACE
Russia embezzlement probe at rocket firm Soyuz

Alaska Aerospace Launches Aurora Launch Services Company

Launch your design with Cheops

NASA Selects Studies for Gateway Power and Propulsion Element

INTERNET SPACE
NASA Opens $2 Million Third Phase of 3D-Printed Habitat Competition

Insight will carry over two million names to Mars

Opportunity Does a Wheelie and is Back on Solid Footing

Martian Ridge Brings Out Rover's Color Talents

INTERNET SPACE
China's reusable spacecraft to be launched in 2020

Space will see Communist loyalty: Chinese astronaut

China launches three satellites

Mars probe to carry 13 types of payload on 2020 mission

INTERNET SPACE
European Space Week starts in Estonia

New Chinese sat comms company awaits approval

Myanmar to launch own satellite system-2 in 2019: vice president

Eutelsat's Airbus-built full electric EUTELSAT 172B satellite reaches geostationary orbit

INTERNET SPACE
A new way to mix oil and water

Building better silk

Measuring atoms for better navigation and mineral detection

Discovery of a new structure family of oxide-ion conductors SrYbInO4

INTERNET SPACE
Scientists find potential 'missing link' in chemistry that led to life on earth

18-Month Twinkle in a Forming Star Suggests a Very Young Planet

Overlooked Treasure: The First Evidence of Exoplanets

Atmospheric beacons guide NASA scientists in search for life

INTERNET SPACE
Watching Jupiter's multiple pulsating X-ray Aurora

Help Nickname New Horizons' Next Flyby Target

Juno Aces 8th Science Pass of Jupiter, Names New Project Manager

Jupiter's X-ray auroras pulse independently




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement