//

Photo credit: Ted Murphy.

The news:

• Singapore state investment firm Temasek was among institutional investors that have bought stakes in Snap, parent of messaging app Snapchat, US Securities and Exchange Commission filings show.
• Temasek owns 300,000 shares in Snap, accounting for 0.04 percent of the company, according to Bloomberg data.
• Big US funds like Fidelity Management & Research and Coatue Management have held positions even before Snap went public.

Why it matters:

• Snap’s stock jumped on account of the stake disclosures, after last week’s losses that were brought about by poor quarterly results – the first publicly reported. Snap missed revenue and user growth targets amidst a heated competition with Facebook.
• Temasek is a force to be reckoned with. An early investor in Alibaba and Uber rival Grab, the Singapore government’s fund owns a portfolio worth over US$170 billion in Singapore and Asia.

Source: Bloomberg

This post Brief: Temasek among big-name funds that invested in Snap appeared first on Tech in Asia.

from Startups – Tech in Asia http://ift.tt/2qmh5ZN