Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Facebook : Covertly Launches Mobile App in China

share with twitter share with LinkedIn share with facebook
share via e-mail
08/12/2017 | 04:42am CEST
By Deepa Seetharaman 

Facebook Inc. covertly launched a mobile app in China, in a shift from the social network's public campaign to woo Beijing officials who have blocked the social network.

In May, Facebook made its debut a photo-sharing app called Colorful Balloons in China under the name of a different company, according to a person familiar with the matter. The app was developed by Young LLC but doesn't advertise its affiliation with Facebook.

"We have long said that we are interested in China, and are spending time understanding and learning more about the country in different ways, " a Facebook spokeswoman said.

The New York Times first reported the app's connection to Facebook, whose services have been blocked on China's internet since 2009.

Facebook executives spent years publicly courted Chinese officials, hiring a well-connected China-policy expert and making Chief Executive Mark Zuckerberg more visible.

He gave a 22-minute speech in Mandarin in 2015 and jogged through Tiananmen Square on a smoggy day in 2016. He also scored a high-profile board seat at Tsinghua University, one of China's top universities, to build inroads with government officials.

At one point, Mr. Zuckerberg directed Facebook engineers to work on a tool that would allow third-parties -- including governments like China -- to block content before it could be posted on Facebook, people familiar with the effort have said. Development of the tool sparked a debate among employees last summer, the people said.

More recently, Facebook's public outreach to Beijing has cooled off. Colorful Balloons suggests the social-media giant is undertaking a more subtle approach.

While the Facebook app can't be used in China, some of its other apps are available, including Layout and Boomerang, creative-tool apps built by Instagram, the photo-sharing app owned by Facebook. These apps don't need to communicate with a server to be used and haven't been blocked.

Write to Deepa Seetharaman at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on FACEBOOK
09:50pFACEBOOK : will remove posts that could lead to violence By Hamza Shaban/ Washin..
09:19pFACEBOOK : suspends Boston analytics firm over data usage
08:35pFACEBOOK : WhatsApp to Limit Forwarding After Rumor-Led Violence in India--Updat..
06:03pNOT REAL NEWS : Dollar General not giving away $150 coupons
04:27pFACEBOOK : Funds New Solar Power in Oregon and Utah
03:34pFACEBOOK : WhatsApp to Limit Message Forwarding After Rumor-Led Violence in Indi..
03:15pFACEBOOK INC : half-yearly earnings release
12:08pFACEBOOK : Working Together to Give People More Control of Their Data
10:13aFACEBOOK : to remove bogus posts inciting violence
02:36aFACEBOOK : plan to kill dangerous fake news is ambitious – and perhaps imp..
More news
News from SeekingAlpha
09:13aFACEBOOK : Priced For Perfection Before Earnings 
07:43aTrump Ups Ante In China Trade War (Wall Street Breakfast Podcast) 
06:55aWALL STREET BREAKFAST : High Stakes Trade War 
05:58aWhatsApp curbs message forwarding 
02:22aManaging Betas And Leverage 
Financials ($)
Sales 2018 56 813 M
EBIT 2018 25 934 M
Net income 2018 22 595 M
Finance 2018 47 967 M
Yield 2018 -
P/E ratio 2018 27,21
P/E ratio 2019 22,67
EV / Sales 2018 9,82x
EV / Sales 2019 7,43x
Capitalization 606 B
Duration : Period :
Facebook Technical Analysis Chart | FB | US30303M1027 | 4-Traders
Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 45
Average target price 230 $
Spread / Average Target 10%
EPS Revisions
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
FACEBOOK17.92%606 019
TWITTER INC80.92%32 621
MATCH GROUP INC24.50%11 044
LINE CORP9.85%10 654
SINA CORP-17.32%6 003
DENA CO LTD-8.14%2 892