Could Mobile Games Soon Come to Snapchat?
Chinese gaming giant Tencent might be interested in bringing video games to social media app Snapchat after acquiring a 12 percent stake in the company, according to Reuters. Snapchat disclosed the deal in a U.S. regulatory filing on Wednesday. "The investment enables Tencent to explore cooperation opportunities with the company on mobile games publishing and newsfeed as well as to share its financial returns from the growth of its businesses and monetisation in the future," Tencent said in a statement sent to Reuters.
Tencent publishes Arena of Valor (aka Honor of Kings), an incredibly popular 5 vs. 5 mobile MOBA game. It also owns League of Legends developer Riot Games and Clash of Clans company Supercell. A Los Angeles lawyer who represents Chinese companies in the U.S. tells Reuters the company has global aspirations, and it might be buying shares with that strategy in mind.