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What will Tencent get out of its 12% stake in Snap Inc.?

What will Tencent get out of its 12% stake in Snap Inc.?

At a moment when skepticism abounds about Snap Inc.’s future, one of the world’s biggest internet companies was revealed to be banking on the company’s success.

Tencent, the Chinese company behind the wildly popular social media app WeChat and a global player in mobile gaming, has bought an approximately 12% stake in Snap, the parent company behind the video messaging app Snapchat, financial filings showed Wednesday.

News of the $2-billion investment arrives at a troubling time for Snap. The Venice company released its third-consecutive quarter of lackluster financial results Tuesday and its shares have continued to slide further away from their $17 stock market debut in...

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