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Facebook : anonymously launched an app in China

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08/12/2017 | 10:13pm CEST

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 This material may not be published, broadcast, rewritten or redistributed., source Associated Press News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 2018 56 812 M
EBIT 2018 25 935 M
Net income 2018 22 592 M
Finance 2018 47 967 M
Yield 2018 -
P/E ratio 2018 27,37
P/E ratio 2019 22,84
EV / Sales 2018 9,85x
EV / Sales 2019 7,46x
Capitalization 608 B
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Technical analysis trends FACEBOOK
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 45
Average target price 229 $
Spread / Average Target 9,3%
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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