Line looks to invest in AI and data mining
©Reuters Line, the Asian rival to WhatsApp, plans to use its newly acquired wealth to invest in artificial intelligence and data mining to challenge Facebook following big gains for shares on its Tokyo-New York market debut. The $1.3bn share sale, powered by a dearth of technology listings this year, has turned investor attention to how Line will improve profitability to compete with bigger rivals such as WhatsApp parent Facebook and Tencent, owner of WeChat. More On this topic IN Technology Its shares jumped 48 per cent to ¥4,900 on Friday’s debut in Tokyo, after pricing at the top end of the range, handing the company a market valuation of about ¥1tn ($9.9bn) in the largest tech initial public offering this year. The company carried out a dual listing, with its…
Link to Full Article: Line looks to invest in AI and data mining
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