Get your mo­tor run­ning

The China Post - - WORLD BUSINESS -

US$1 bil­lion, ac­cord­ing to a Kik state­ment.

With the cap­i­tal, Kik aims to build a chat-based ecosys­tem around its base of Amer­i­can youth.

The com­pany says 70 per­cent of its 240 mil­lion reg­is­tered users are be­tween 13 and 24 years old, and that 40 per­cent of U.S. teens use Kik.

“Young Amer­i­cans are a large group with un­met needs. We can’t think of a bet­ter group to be build­ing for,” said Ted Liv­ingston, founder and chief ex­ec­u­tive of Kik. ex­pan­sion plans Tues­day with a US$200 mil­lion in­vest­ment from NBCUniver­sal.

The deal with NBCU, a di­vi­sion of the media and ca­ble con­glom­er­ate Com­cast, calls for “strate­gic part­ner­ships” be­tween the two groups, which could al­low shar­ing of con­tent be­tween Buz­zFeed and the vast NBC tele­vi­sion oper­a­tions.

The deal val­ues the “so­cial news” pi­o­neer at some US$1.5 bil­lion, ac­cord­ing to sev­eral media re­ports. The com­pa­nies did not com­ment on the val­u­a­tion terms of the in­vest­ment.

Toshiba’s shares jumped 6.2 per­cent early Wed­nes­day, af­ter the reshuf­fle was an­nounced late Tues­day. The plan needs share­holder ap­proval. costs over a third.

But around half of the HK$7.08 bil­lion gain was off­set by losses from oil hedg­ing, and prof­its missed the HK$2.22 bil­lion me­dian es­ti­mate of six an­a­lysts polled by Bloomberg News.

AP

In­done­sian media and visi­tors are seen on the ex­hi­bi­tion floor dur­ing a press preview of the In­done­sia In­ter­na­tional Mo­tor Show 2015 in Jakarta, Wed­nes­day, Aug. 19. The 11-day show, the coun­try’s largest, opens on Thurs­day, Aug. 20 with more than 50 brands ex­hibit­ing their latest cars and mo­tor­cy­cles.

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