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Facebook : anonymously launched an app in China

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08/12/2017 | 10:13pm CET

NEW YORK (AP) — Facebook anonymously launched a new photo-sharing app in China in a new effort to make inroads in the world's most populous country.

China's ruling Communist Party controls internet traffic across the country's borders and tries to keep the public from seeing thousands of websites including Facebook.

The app, called Colorful Balloons, was launched in China earlier this year and does not carry Facebook's name. Facebook confirmed Saturday that it launched the app.

The social media company's connection to the app was first reported Friday by The New York Times, which said it was released in China through a separate local company called Youge Internet Technology.

The launch of the app comes as China is cracking down on technology that allows web surfers to evade Beijing's online censorship.

Last month, users of Facebook's What'sApp messaging service, which normally operates freely in China, were no longer able to send images without using a virtual private network. That came amid official efforts to suppress mention of the death of Liu Xiaobo, the imprisoned Nobel Peace laureate.

China's biggest internet service provider, China Telecom Ltd., sent a letter to corporate customers last month saying that VPNs, which create encrypted links between computers and can be used to see sites blocked by Beijing's web filters, would be permitted only to connect to a company's headquarters abroad. The move could block access to news, social media or business services that are obscured by China's "Great Firewall."

Chinese authorities have long blocked Facebook, Twitter, Facebook and YouTube, arguing that foreign social media services operating beyond their control pose a threat to national security.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed., source Associated Press News

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Financials ($)
Sales 2017 40 204 M
EBIT 2017 19 412 M
Net income 2017 17 466 M
Finance 2017 34 213 M
Yield 2017 -
P/E ratio 2017 30,85
P/E ratio 2018 27,27
EV / Sales 2017 12,2x
EV / Sales 2018 8,90x
Capitalization 524 B
Chart FACEBOOK
Duration : Period :
Facebook Technical Analysis Chart | FB | US30303M1027 | 4-Traders
Technical analysis trends FACEBOOK
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 45
Average target price 207 $
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
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
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