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OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Facebook : secretly launches app in China

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08/13/2017 | 03:03pm CEST

Facebook has released a photo sharing app in China dubbed Colorful Balloons, despite that the social networking site has been banned largely since 2009.

According to The New York Times, in May this year, Facebook secretly launched the app and it appears to mirror Facebook's Moments feature, however it does not feature any Facebook branding.

Facebook's Colorful Balloons works alongside China's popular social network, WeChat, and enables users to share photos with friends and family members.

Facebook offered a statement, but does not confirm or deny its involvement. "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 spokesperson reveals.

To avoid being linked to the app, Facebook released Colorful Balloons using a local Chinese company called Youge Internet Technology. The app features in China'sApp Store but it supposedly is not easy to share with outsiders.

China's censorship laws means that certain websites are blocked in the country, however Facebook founder Mark Zuckerberg has made it clear that he would want to see the social network in China.

Facebook-owned messaging app WhatsApp was recently reported as blocked in Chinaas many users had faced problems sending photos, videos and voice messages.

Related: WhatsApp faces block in China

(c) 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 56 640 M
EBIT 2018 26 043 M
Net income 2018 22 501 M
Finance 2018 46 909 M
Yield 2018 -
P/E ratio 2018 26,02
P/E ratio 2019 21,68
EV / Sales 2018 9,18x
EV / Sales 2019 6,95x
Capitalization 567 B
Chart FACEBOOK
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Facebook Technical Analysis Chart | FB | US30303M1027 | 4-Traders
Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 42
Average target price 223 $
Spread / Average Target 12%
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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