Snap: We’ve blown $3bn this year and Tencent wants to give us more (The Register)

The Register: Snap: We’ve blown $3bn this year and Tencent wants to give us more. “Nose-diving social media company Snap Inc. says it has secured a significant investment from Chinese tech powerhouse Tencent. The photo sharing company slipped the disclosure into yesterday’s remarkably poor quarterly earnings report, saying the 145 million shares were a non-voting stake and would not be subject to much scrutiny from regulators.”