A popular messaging app that calls itself secure with end-to-end encryption has suffered a security lapse resulting into a huge cache of users’ messages being posted online, said a report. TechCrunch says that the messaging app is widely used in Asia and across the world with 20 million global users.

Even JusTalk Kids shows 1 million android downloads on Google Play. JusTalk says that both apps are end-to-end encrypted, which means that only the people in the conversation can read the messages. JusTalk claims on its website that “only you and the person you communicate with can see, read or listen to them: Even the JusTalk team won’t access your data!”

But the lapse has raised questions on the security of these apps.

The leaked data includes millions of JusTalk user messages, along with the precise date and time they were sent and the phone numbers of both the sender and the recipient. It also contained records of calls that were placed using the app.

The report says that security researcher Anurag Sen found the data this week and asked TechCrunch for help to report it to the company.

JusTalk was launched by Juphoon, a China-based cloud company in 2016. The app is now owned by Ninbo Jus. As per records on Juphoon’s website, both companies appear to share same office address.

Because each message recorded in the data contained every phone number in the same chat, it was possible to follow entire conversations, including children using the JusTalk Kids app to chat with their parents.

(With inputs from agencies)

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A popular messaging app that calls itself secure with end-to-end encryption has suffered a security lapse resulting into a huge cache of users’ messages being posted online, said a report.

A popular messaging app that calls itself secure with end-to-end encryption has suffered a security lapse resulting into a huge cache of users’ messages being posted online, said a report. TechCrunch says that the messaging app is widely used in Asia and across the world with 20 million global users. Even JusTalk Kids shows 1 million android downloads on Google Play. JusTalk says that both apps are end-to-end encrypted, which means that only the people in the conversation can read the messages. JusTalk claims on its website that “only you and the person you communicate with can see, read or listen to them: Even the JusTalk team won’t access your data!” But the lapse has raised questions on the security of these apps. The leaked data includes millions of JusTalk user messages, along with the precise date and time they were sent and the phone numbers of both the sender and the recipient. It also contained records of calls that were placed using the app. The report says that security researcher Anurag Sen found the data this week and asked TechCrunch for help to report it to the company. JusTalk was launched by Juphoon, a China-based cloud company in 2016. The app is now owned by Ninbo Jus. As per records on Juphoon’s website, both companies appear to share same office address. Because each message recorded in the data contained every phone number in the same chat, it was possible to follow entire conversations, including children using the JusTalk Kids app to chat with their parents. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Messaging app suffers security lapse, millions of messages leaked: Report

Telegram is a popular cross-platform, cloud-based instant messaging service that also provides end-to-end encrypted video calling, sharing and some other features.&nbsp;

But the question is — is it safe?&nbsp;

Telegram, which has more than 500 million monthly active users, has become immensely popular among users for its safety features and users believe that it's highly secure.&nbsp;

The messaging app is being slammed globally for failing to protect users on its platform and is being criticised on various fronts.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/technology/zuckerberg-refers-to-his-staff-as-metamates-in-a-memo-laying-out-new-principles-454144">Zuckerberg refers to his staff as 'Metamates' in a memo laying out new principles</a>

As per a media report, women's nude pictures are shared on Telegram without their consent to harass, shame and blackmail them.&nbsp;

The reports have also stated that these women are then said to be contacted by other men who ask more for more intimate pictures.&nbsp;

It gets even worse when personal details like home addresses and parents' phone numbers are also posted alongside those explicit pictures.&nbsp;

According to the report, large groups and channels are sharing thousands of secretly filmed, stolen or leaked images of women in at least 20 countries.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/technology/live-in-the-future-mark-zuckerberg-revamps-company-values-as-meta-faces-investment-concerns-453785">‘Live in the future’: Mark Zuckerberg revamps company values as Meta faces investment concerns</a>

Group administrators ask members to send images of ex-partners, colleagues or fellow students to an automated account so that they could be published without revealing the identity of the sender.&nbsp;

In Telegram, one-on-one conversations are end-to-end encrypted but Telegram can't end-to-end encrypt group messages, which means those chats are not fully secure.&nbsp;

While Telegram allows users to report pornography on its platform, its moderation approach is lenient and shockingly, Telegram does not have a dedicated policy on tackling the non-consensual sharing of intimate images.&nbsp;

Medium for radicalisation&nbsp;

Telegram has also been under fire in some countries for harbouring extremism as Germany has concerns that the app is becoming a "medium for radicalisation".&nbsp;

Germany's federal criminal police office recently warned that the app is being used to target politicians, scientists and doctors for their role in tackling the coronavirus pandemic.&nbsp;

Germany has blamed Telegram for fuelling an increasingly hostile subculture of anti-vaccine conspiracy theorists. These users exchange news about supposed dangers and arrange protests that have spilt over into violence.&nbsp;

In Brazil, Telegram is facing the wrath of authorities for failing to fight misinformation on its platform. Brazil's supreme electoral court is considering a Telegram ban to fend off fake news ahead of the presidential elections in the country later this year.&nbsp;

The list of problems with Telegram is long as another research by cyber intelligence group cyberint claims that Telegram has exploded as a place for cybercriminals who look to buy, sell and share stolen data and hacking tools.&nbsp;

The messaging app is emerging as an alternative to the dark web. Cyber attackers use the app to infect user devices and launch malware attacks.&nbsp;

It seems that Telegram has become a hub for controversial content and illegal activities and it needs to take more stringent measures to ensure better user privacy.&nbsp;

It should step up to crack down on cybercrimes and proactively take down illegal content.&nbsp;

Telegram is a popular cross-platform, cloud-based instant messaging service that also provides end-to-end encrypted video calling, sharing and some other features.

Telegram is a popular cross-platform, cloud-based instant messaging service that also provides end-to-end encrypted video calling, sharing and some other features. But the question is — is it safe? Telegram, which has more than 500 million monthly active users, has become immensely popular among users for its safety features and users believe that it's highly secure. The messaging app is being slammed globally for failing to protect users on its platform and is being criticised on various fronts. ALSO READ | Zuckerberg refers to his staff as 'Metamates' in a memo laying out new principles As per a media report, women's nude pictures are shared on Telegram without their consent to harass, shame and blackmail them. The reports have also stated that these women are then said to be contacted by other men who ask more for more intimate pictures. It gets even worse when personal details like home addresses and parents' phone numbers are also posted alongside those explicit pictures. According to the report, large groups and channels are sharing thousands of secretly filmed, stolen or leaked images of women in at least 20 countries. ALSO READ | ‘Live in the future’: Mark Zuckerberg revamps company values as Meta faces investment concerns Group administrators ask members to send images of ex-partners, colleagues or fellow students to an automated account so that they could be published without revealing the identity of the sender. In Telegram, one-on-one conversations are end-to-end encrypted but Telegram can't end-to-end encrypt group messages, which means those chats are not fully secure. While Telegram allows users to report pornography on its platform, its moderation approach is lenient and shockingly, Telegram does not have a dedicated policy on tackling the non-consensual sharing of intimate images. Medium for radicalisation Telegram has also been under fire in some countries for harbouring extremism as Germany has concerns that the app is becoming a "medium for radicalisation". Germany's federal criminal police office recently warned that the app is being used to target politicians, scientists and doctors for their role in tackling the coronavirus pandemic. Germany has blamed Telegram for fuelling an increasingly hostile subculture of anti-vaccine conspiracy theorists. These users exchange news about supposed dangers and arrange protests that have spilt over into violence. In Brazil, Telegram is facing the wrath of authorities for failing to fight misinformation on its platform. Brazil's supreme electoral court is considering a Telegram ban to fend off fake news ahead of the presidential elections in the country later this year. The list of problems with Telegram is long as another research by cyber intelligence group cyberint claims that Telegram has exploded as a place for cybercriminals who look to buy, sell and share stolen data and hacking tools. The messaging app is emerging as an alternative to the dark web. Cyber attackers use the app to infect user devices and launch malware attacks. It seems that Telegram has become a hub for controversial content and illegal activities and it needs to take more stringent measures to ensure better user privacy. It should step up to crack down on cybercrimes and proactively take down illegal content.

Is Telegram safe to use? Here's what's wrong with messaging service. It isn't as secure as you think it is

One of South Korea's wealthiest people, the billionaire founder of the country's biggest mobile messenger operator KakaoTalk, promised Monday to give away more than half his wealth.

The decision by self-made Kim Beom-su, worth around $9.4 billion, is an unusual one for the world's 12th-largest economy, where business is dominated by sprawling family-controlled conglomerates.

"I have pledged to donate more than half of my assets throughout my life to solve social issues," Kim said in a message sent to all of Kakao's employees seen by AFP.

Kakao, founded in 2010, has a range of mobile offerings and its flagship messaging application is installed on more than 90 per cent of phones in South Korea.

Forbes described Kim the nation's "biggest gainer" during the coronavirus pandemic last year.

His firm benefited from social distancing measures that saw more use of its messaging app, e-commerce platform, and online games.

The promise to donate more than half of a billion-dollar fortune is at the core of the Giving Pledge, the philanthropic initiative set up by Bill and Melinda Gates, as well as Warren Buffett.

More 200 super-wealthy have signed the pledge, according to its website, but it has struggled to make headway in East Asia, listing only a handful of donors from China, Hong Kong and Taiwan — and none from Japan or South Korea.

Kim said he was looking to make his pledge official, adding discussions on the details of his donation were "at the early stage".

"I plan to find and help people that Kakao has difficulty approaching to solve social problems," he added.

Kakao reported 120 billion won in operating profit in the third quarter, up 103 per cent from a year earlier, and is expected to report record yearly profits for 2020.

One of South Korea's wealthiest people, the billionaire founder of the country's biggest mobile messenger operator KakaoTalk, promised Monday to give away more than half his wealth.

One of South Korea's wealthiest people, the billionaire founder of the country's biggest mobile messenger operator KakaoTalk, promised Monday to give away more than half his wealth. The decision by self-made Kim Beom-su, worth around $9.4 billion, is an unusual one for the world's 12th-largest economy, where business is dominated by sprawling family-controlled conglomerates. "I have pledged to donate more than half of my assets throughout my life to solve social issues," Kim said in a message sent to all of Kakao's employees seen by AFP. Kakao, founded in 2010, has a range of mobile offerings and its flagship messaging application is installed on more than 90 per cent of phones in South Korea. Forbes described Kim the nation's "biggest gainer" during the coronavirus pandemic last year. His firm benefited from social distancing measures that saw more use of its messaging app, e-commerce platform, and online games. The promise to donate more than half of a billion-dollar fortune is at the core of the Giving Pledge, the philanthropic initiative set up by Bill and Melinda Gates, as well as Warren Buffett. More 200 super-wealthy have signed the pledge, according to its website, but it has struggled to make headway in East Asia, listing only a handful of donors from China, Hong Kong and Taiwan — and none from Japan or South Korea. Kim said he was looking to make his pledge official, adding discussions on the details of his donation were "at the early stage". "I plan to find and help people that Kakao has difficulty approaching to solve social problems," he added. Kakao reported 120 billion won in operating profit in the third quarter, up 103 per cent from a year earlier, and is expected to report record yearly profits for 2020.

Founder of South Korea's Kakao to give away half his billions

New features on Whatsapp | WhatsApp - the messaging platform is at the helm of social media applications. Run by Facebook - one of the four Big Tech companies, its features complement those of its sister platforms like Instagram and Facebook.&nbsp; So if any feature exists on one of these platforms, expect it to show up on all eventually. For instance - “Stories”. By imitating the Snapchat model of quick short lived stories, Instagram mastered it, further emulating it on Facebook and WhatsApp.

In a bid to keep the app updated and fresh, new features are introduced every once in a while. Take a look at what to expect!

WhatsApp Web calling

Do you use WhatsApp web more often than the mobile app, especially while working? Worry not! Now you may not need to use your phone for video and audio calls.

Also read:&nbsp;<a href="http://13.235.153.162/technology/whatsapp-update-top-5-new-features-in-the-messenger-app-333999" hreflang="en">WhatsApp Update: Top 5 new features in the messenger app</a>

According to WABetaInfo, the WhatsApp web client is getting the calling feature very soon, and are being tested right now.

Expiring media

Instagram already has it, and now WhatsApp is going to get it. Expiring media implies images, gifs, and videos, and perhaps even messages with a shelf life. Once the stipulated period (probably to be decided by users) ends, the media will disappear from the chat, and without saying “this message was deleted”.

History sync&nbsp;

Do you switch your OS platforms often? And never get to retrieve your chats from the previous OS? Worry not! WhatsApp is solving that once and for all, by allowing users to copy chats from divide to another, regardless of the OS they run on.

Multi-device support

Do you use more than one smartphone, but feel restricted to using WhatsApp on one? The company may be working out something for you. With support for multi-device usage, Whatsapp will allow users to access the same account from different devices.

Wallpaper

WhatsApp already lets users decide what image they want to use as the application wallpaper, which appears as the background in chats. This feature is being expanded. According to WABetaInfor, the app will introduce more generic wallpapers from the company, with more personalisation options.

Also read:&nbsp;<a href="http://13.235.153.162/technology/whatsapp-business-now-has-over-15-million-users-in-india-introduces-new-features-312199" hreflang="en">WhatsApp Business now has over 15 million users in India; introduces new features</a>

For all tech news, follow www.wionews.com/technology&nbsp;

New features on Whatsapp | WhatsApp - the messaging platform is at the helm of social media applications. Run by Facebook - one of the four Big Tech companies, its features complement those of its sister platforms like Instagram and Facebook.

New features on Whatsapp | WhatsApp - the messaging platform is at the helm of social media applications. Run by Facebook - one of the four Big Tech companies, its features complement those of its sister platforms like Instagram and Facebook. So if any feature exists on one of these platforms, expect it to show up on all eventually. For instance - “Stories”. By imitating the Snapchat model of quick short lived stories, Instagram mastered it, further emulating it on Facebook and WhatsApp. In a bid to keep the app updated and fresh, new features are introduced every once in a while. Take a look at what to expect! WhatsApp Web calling Do you use WhatsApp web more often than the mobile app, especially while working? Worry not! Now you may not need to use your phone for video and audio calls. Also read: WhatsApp Update: Top 5 new features in the messenger app According to WABetaInfo, the WhatsApp web client is getting the calling feature very soon, and are being tested right now. Expiring media Instagram already has it, and now WhatsApp is going to get it. Expiring media implies images, gifs, and videos, and perhaps even messages with a shelf life. Once the stipulated period (probably to be decided by users) ends, the media will disappear from the chat, and without saying “this message was deleted”. History sync Do you switch your OS platforms often? And never get to retrieve your chats from the previous OS? Worry not! WhatsApp is solving that once and for all, by allowing users to copy chats from divide to another, regardless of the OS they run on. Multi-device support Do you use more than one smartphone, but feel restricted to using WhatsApp on one? The company may be working out something for you. With support for multi-device usage, Whatsapp will allow users to access the same account from different devices. Wallpaper WhatsApp already lets users decide what image they want to use as the application wallpaper, which appears as the background in chats. This feature is being expanded. According to WABetaInfor, the app will introduce more generic wallpapers from the company, with more personalisation options. Also read: WhatsApp Business now has over 15 million users in India; introduces new features For all tech news, follow www.wionews.com/technology

WhatsApp to get new exciting features like video calling on WhatsApp Web. Here's what to expect

Indian instant messaging platform Hike rolled out an in-app electronic payments wallet on Tuesday in a bid to cash in on rising digital transactions, replicating similar services offered by its backer Tencent Holdings in China.

E-payments have surged in India since a shock ban of high-value bank notes in November last year. Providers such as Paytm, backed by Alibaba and SoftBank Group, have rapidly increased their share of the market amid predictions it will jump nearly 10 times to $500 billion by 2020.

Hike&#39;s wallet, however, is the first such service by a messaging platform in the country and comes ahead of a possible launch of a payment facility by Facebook-owned WhatsApp later this year.

Hike said its wallet will allow instant money transfer among its clients and enable fund transfer to banks using the government-backed United Payments Interface (UPI) system.

The startup has been looking at Tencent&#39;s WeChat services in China and finding ways to adapt them to India&#39;s digital payments market, said Hike Chief Executive Kavin Mittal.

&quot;For sure we talk to Tencent quite often, we are inspired by them and it&#39;s great to have them as a partner,&quot; Mittal told Reuters in an interview.

Hike has partnered Indian private sector lender Yes Bank to facilitate money transfers to banks using the UPI system, Mittal said.

Besides mobile phone bill payments and traditional wallet-to-wallet transfers, Hike will also allow its users to send &quot;blue packets&quot; or envelopes containing digital money to friends, a feature borrowed from WeChat&#39;s &quot;red packets&quot;.

Hike, part of India&#39;s Bharti Enterprises, says it has more than 100 million registered users.

It was launched in December 2012, and has raised over $260 million from investors including Tiger Global, Tencent and Bharti SoftBank - a joint venture between Japan&#39;s SoftBank and Bharti Enterprises.

Headed by Mittal&#39;s father, billionaire Sunil Mittal, Bharti Enterprises&#39; businesses include top Indian mobile carrier Bharti Airtel and joint ventures in insurance and renewable.

Paytm is India&#39;s biggest electronic wallets provider with 225 million clients. Swedish communications app Truecaller, which has a large user base in India, also started a mobile payment service in the country this year based on the UPI platform.

&nbsp;

Hike's wallet comes ahead of a possible launch of a payment facility by Facebook-owned WhatsApp later this year

Indian instant messaging platform Hike rolled out an in-app electronic payments wallet on Tuesday in a bid to cash in on rising digital transactions, replicating similar services offered by its backer Tencent Holdings in China. E-payments have surged in India since a shock ban of high-value bank notes in November last year. Providers such as Paytm, backed by Alibaba and SoftBank Group, have rapidly increased their share of the market amid predictions it will jump nearly 10 times to $500 billion by 2020. Hike's wallet, however, is the first such service by a messaging platform in the country and comes ahead of a possible launch of a payment facility by Facebook-owned WhatsApp later this year. Hike said its wallet will allow instant money transfer among its clients and enable fund transfer to banks using the government-backed United Payments Interface (UPI) system. The startup has been looking at Tencent's WeChat services in China and finding ways to adapt them to India's digital payments market, said Hike Chief Executive Kavin Mittal. "For sure we talk to Tencent quite often, we are inspired by them and it's great to have them as a partner," Mittal told Reuters in an interview. Hike has partnered Indian private sector lender Yes Bank to facilitate money transfers to banks using the UPI system, Mittal said. Besides mobile phone bill payments and traditional wallet-to-wallet transfers, Hike will also allow its users to send "blue packets" or envelopes containing digital money to friends, a feature borrowed from WeChat's "red packets". Hike, part of India's Bharti Enterprises, says it has more than 100 million registered users. It was launched in December 2012, and has raised over $260 million from investors including Tiger Global, Tencent and Bharti SoftBank - a joint venture between Japan's SoftBank and Bharti Enterprises. Headed by Mittal's father, billionaire Sunil Mittal, Bharti Enterprises' businesses include top Indian mobile carrier Bharti Airtel and joint ventures in insurance and renewable. Paytm is India's biggest electronic wallets provider with 225 million clients. Swedish communications app Truecaller, which has a large user base in India, also started a mobile payment service in the country this year based on the UPI platform.

Hike rolls out India's first payment wallet within messaging app

Japanese messaging app firm Line Corp priced its initial public offering (IPO) at the top of its marketed range, putting it on track to raise as much as $1.3 billion and reflecting robust appetite for the world&#39;s biggest tech listing this year. 
 
Line set the IPO price at 3,300 Yen per share, compared with its book-building range of 2,900-3,300 Yen, a filing with Japan&#39;s finance ministry showed on Monday. 
 
It had initially set the range at 2,700-3,200 Yen but bumped it up last week amid buoyant demand. 
 
Line, owned by South Korea&#39;s Naver Corp, is set for a dual New York and Tokyo listing this week, raising funds and boosting its profile to ratchet up its global expansion outside its key markets of Japan and Southeast Asia. 
 
&quot;This is seen as an event by many domestic retail investors. I think the price will rise in the short term,&quot; said Mitsushige Akino, executive officer at Ichiyoshi Asset Management. 
 
But he added that investors will also need to look at whether the company increases profits in the long term. 
 
Including an overallotment arrangement, Line is selling up to 132.8 billion Yen ($1.3 billion) of shares. The IPO pricing values the company at 693 billion Yen ($6.9 billion). 
 
Line&#39;s messaging app was launched in the aftermath of Japan&#39;s 2011 earthquake and tsunami to overcome downed communications, growing unexpectedly to become the country&#39;s dominant mobile messaging platform over the next few years. 
 
The bulk of its revenue comes from games and sales of emojis and electronic stickers. 
 
Line will debut on the New York Stock Exchange on Thursday and on the Tokyo Stock Exchange the following day. 
 
Morgan Stanley, Goldman Sachs, JP Morgan and Nomura are managing the listing. 
 
($1 = 100.8100 Yen) 
 
(Reuters)

Line is set for a dual New York and Tokyo listing this week, raising funds and boosting its profile

Japanese messaging app firm Line Corp priced its initial public offering (IPO) at the top of its marketed range, putting it on track to raise as much as $1.3 billion and reflecting robust appetite for the world's biggest tech listing this year. Line set the IPO price at 3,300 Yen per share, compared with its book-building range of 2,900-3,300 Yen, a filing with Japan's finance ministry showed on Monday. It had initially set the range at 2,700-3,200 Yen but bumped it up last week amid buoyant demand. Line, owned by South Korea's Naver Corp, is set for a dual New York and Tokyo listing this week, raising funds and boosting its profile to ratchet up its global expansion outside its key markets of Japan and Southeast Asia. "This is seen as an event by many domestic retail investors. I think the price will rise in the short term," said Mitsushige Akino, executive officer at Ichiyoshi Asset Management. But he added that investors will also need to look at whether the company increases profits in the long term. Including an overallotment arrangement, Line is selling up to 132.8 billion Yen ($1.3 billion) of shares. The IPO pricing values the company at 693 billion Yen ($6.9 billion). Line's messaging app was launched in the aftermath of Japan's 2011 earthquake and tsunami to overcome downed communications, growing unexpectedly to become the country's dominant mobile messaging platform over the next few years. The bulk of its revenue comes from games and sales of emojis and electronic stickers. Line will debut on the New York Stock Exchange on Thursday and on the Tokyo Stock Exchange the following day. Morgan Stanley, Goldman Sachs, JP Morgan and Nomura are managing the listing. ($1 = 100.8100 Yen) (Reuters)

Japan's messaging app Line prices IPO at top of the range, may raise up to $1.3 billion

In delaying its IPO by two years, Japanese messaging app company Line Corp bought time to correct weak financial reporting controls, work on its business plan, bolster staffing - and left billions of dollars on the table as its valuation shrivelled. 
 
Line&#39;s initial public offering in the next three weeks is set to raise about $1 billion, which given a global drought of such deals could make it the biggest tech listing this year, but sceptical fund managers point to tepid growth in Line&#39;s home market and doubts about its prospects for regional expansion. They also question whether its advertising revenue strategy will work. 
 
In seeking to earn more from its major Asian markets of Japan, Thailand, Indonesia and Taiwan, Line will try to generate more revenue from services such as advertising and offer more localized products, its IPO filing said. 
 
The bulk of Line&#39;s revenue comes from games and sales of emojis and electronic stickers, including Brown the bear and Cony, his flatulent rabbit girlfriend. 
 
&quot;Localisation of the service, of the marketing, of the stickers that we provide - this is very important,&quot; CEO Takeshi Idezawa told Reuters in April. 
 
Fund managers who have watched Line&#39;s growth slow in a crowded global messaging app market assess the plan with caution. 
 
&quot;I&#39;m not interested,&quot; said Yasuo Sakuma, portfolio manager at Bayview Asset Management, which manages 270 billion yen ($2.64 billion). &quot;Its growth outlook is very poor.&quot; 
 
&quot;Among the four countries that it&#39;s focusing on, only Indonesia has big room for growth in use,&quot; he added. &quot;Even there, the business outlook is not that easy.&quot; 
 
Growth in Line&#39;s monthly active users has tailed off after tripling across the world over the past three years. Last year, user numbers rose just 13 million to 218 million at the end of March, the IPO filing showed. The company isn&#39;t providing much visibility about the future either - it says in its filing that limited operating history makes it &quot;difficult&quot; to forecast future results. 
 
Globally, Line is the seventh-most used messenger app, data from researcher Statista shows, behind the likes of Facebook&#39;s WhatsApp and Tencent&#39;s WeChat. 
 
Earthquake Aftermath 
 
The company will fix its IPO price range on Monday. There is no change to the listing&#39;s schedule following Britain&#39;s vote to leave the European Union, a Line spokeswoman said on Friday. 
 
The dual New York and Tokyo listing, set for July 14-15, would value Line at about 588 billion yen ($5.75 billion) and make it the country&#39;s largest listing since Japan Post&#39;s $12 billion offering last year. 
 
Line&#39;s likely valuation is far less than the $10 billion-$20 billion that was expected by investors when South Korean parent Naver Corp previously talked of a Line listing in 2013-2014, although Line may not have had much choice but to wait. 
 
Line declined to comment, citing a media blackout period ahead of the IPO. 
 
Line&#39;s messaging app was launched as NHN Japan in the aftermath of Japan&#39;s 2011 earthquake and tsunami to overcome downed communications, growing unexpectedly to become the country&#39;s dominant mobile messaging platform over the next few years. 
 
However, in that period, it identified what it described in its IPO filing as &quot;material weaknesses&quot; in controls over financial reporting. 
 
Line has now tightened board and management approval for major transactions, it said in its prospectus, and crafted a strategy focusing on Japan, Thailand, Indonesia and Taiwan, which account for more than half its users. 
 
Line has also bolstered staff numbers by recruiting over 750 workers between December 2014 and March, its IPO filing shows, with designers and engineers among the recruits. It has around 2,540 full-time employees. 
 
Pushed as value pay 
 
Idezawa, who became Line&#39;s chief executive in March last year, has been key to tightened procedures, a person familiar with the matter said. Idezawa is known for his strictness on compliance-related matters, the person added. 
 
Idezawa was previously chief executive of, internet company Livedoor, joining that company a year after it was hit by a high-profile 2006 accounting scandal. 
 
&quot;When Line was first seriously considering an IPO around 2013, the overall company was pretty disorganised,&quot; said a person involved in the IPO. &quot;It was very much still a venture in terms of mindset. So a lot of people were hired to strengthen the company.&quot; 
 
Line has pitched its IPO to investors in terms of value and steady returns instead of explosive growth potential. 
 
While that story has been met favourably by Japan&#39;s risk-averse retail investors - Tokyo brokerages including Daiwa Securities say retail investors have shown strong interest in Line shares - fund managers are wary of Line&#39;s ad-driven growth push. 
 
&quot;I went to the company&#39;s meeting with investors... but nothing moved me,&quot; said a fund manager at a major Japanese asset management firm who declined to be named because of company rules against discussing individual shares. &quot;It&#39;s not clear how it can make money out of its advertisement business.&quot; 
 
(Reuters)

Line's likely valuation is far less than the $10 billion-$20 billion that was expected by investors

In delaying its IPO by two years, Japanese messaging app company Line Corp bought time to correct weak financial reporting controls, work on its business plan, bolster staffing - and left billions of dollars on the table as its valuation shrivelled. Line's initial public offering in the next three weeks is set to raise about $1 billion, which given a global drought of such deals could make it the biggest tech listing this year, but sceptical fund managers point to tepid growth in Line's home market and doubts about its prospects for regional expansion. They also question whether its advertising revenue strategy will work. In seeking to earn more from its major Asian markets of Japan, Thailand, Indonesia and Taiwan, Line will try to generate more revenue from services such as advertising and offer more localized products, its IPO filing said. The bulk of Line's revenue comes from games and sales of emojis and electronic stickers, including Brown the bear and Cony, his flatulent rabbit girlfriend. "Localisation of the service, of the marketing, of the stickers that we provide - this is very important," CEO Takeshi Idezawa told Reuters in April. Fund managers who have watched Line's growth slow in a crowded global messaging app market assess the plan with caution. "I'm not interested," said Yasuo Sakuma, portfolio manager at Bayview Asset Management, which manages 270 billion yen ($2.64 billion). "Its growth outlook is very poor." "Among the four countries that it's focusing on, only Indonesia has big room for growth in use," he added. "Even there, the business outlook is not that easy." Growth in Line's monthly active users has tailed off after tripling across the world over the past three years. Last year, user numbers rose just 13 million to 218 million at the end of March, the IPO filing showed. The company isn't providing much visibility about the future either - it says in its filing that limited operating history makes it "difficult" to forecast future results. Globally, Line is the seventh-most used messenger app, data from researcher Statista shows, behind the likes of Facebook's WhatsApp and Tencent's WeChat. Earthquake Aftermath The company will fix its IPO price range on Monday. There is no change to the listing's schedule following Britain's vote to leave the European Union, a Line spokeswoman said on Friday. The dual New York and Tokyo listing, set for July 14-15, would value Line at about 588 billion yen ($5.75 billion) and make it the country's largest listing since Japan Post's $12 billion offering last year. Line's likely valuation is far less than the $10 billion-$20 billion that was expected by investors when South Korean parent Naver Corp previously talked of a Line listing in 2013-2014, although Line may not have had much choice but to wait. Line declined to comment, citing a media blackout period ahead of the IPO. Line's messaging app was launched as NHN Japan in the aftermath of Japan's 2011 earthquake and tsunami to overcome downed communications, growing unexpectedly to become the country's dominant mobile messaging platform over the next few years. However, in that period, it identified what it described in its IPO filing as "material weaknesses" in controls over financial reporting. Line has now tightened board and management approval for major transactions, it said in its prospectus, and crafted a strategy focusing on Japan, Thailand, Indonesia and Taiwan, which account for more than half its users. Line has also bolstered staff numbers by recruiting over 750 workers between December 2014 and March, its IPO filing shows, with designers and engineers among the recruits. It has around 2,540 full-time employees. Pushed as value pay Idezawa, who became Line's chief executive in March last year, has been key to tightened procedures, a person familiar with the matter said. Idezawa is known for his strictness on compliance-related matters, the person added. Idezawa was previously chief executive of, internet company Livedoor, joining that company a year after it was hit by a high-profile 2006 accounting scandal. "When Line was first seriously considering an IPO around 2013, the overall company was pretty disorganised," said a person involved in the IPO. "It was very much still a venture in terms of mindset. So a lot of people were hired to strengthen the company." Line has pitched its IPO to investors in terms of value and steady returns instead of explosive growth potential. While that story has been met favourably by Japan's risk-averse retail investors - Tokyo brokerages including Daiwa Securities say retail investors have shown strong interest in Line shares - fund managers are wary of Line's ad-driven growth push. "I went to the company's meeting with investors... but nothing moved me," said a fund manager at a major Japanese asset management firm who declined to be named because of company rules against discussing individual shares. "It's not clear how it can make money out of its advertisement business." (Reuters)

Line struggles to demonstrate its growth plan

Messaging app Snapchat by year&#39;s end will have more US users than either Twitter or Pinterest, a market tracker said on Wednesday. 
 
The number of people using Snapchat in the United States will leap more than 27 per cent this year to 58.6 million, meaning that nearly one in five people in the country will be using the service, according to an eMarketer forecast. 
 
Twitter was expected to have 56.8 million US users this year, and online bulletin board Pinterest to have 54.6 million users. 
By the year 2020, the ranks of US Snapchat users was expected to swell to 85.5 million, according to the report. 
 
However, eMarketer forecast that Facebook Messenger smartphone communication application would remain in the lead in this segment with its US user base growing from 105.2 million this year to 139.2 million in the year 2020. 
 
Snapchat estimates it has more than 100 million users globally of the service for sending videos, images and text messages which vanish after being viewed. Some reports say it generates 10 billion video views per day. 
 
Snapchat&#39;s allure includes letting users &quot;cut through the clutter by injecting fun back into social sharing,&quot; according to eMarketer analyst Cathy Boyle. 
 
Snapchat has also tapped into an interest, particularly among young internet users, in communicating intimately with one or a few people instead of broadcasting messages across networks, the analyst said. 
 
The messaging service has been working with media partners and advertisers to reach its youthful audience. 
 
Snapchat this week rolled out a redesign making it a more attractive stage for publishers or brands to attract online audiences. 
 
A recent Bloomberg news report maintained that the number of people using Snapchat daily around the world already outnumber those using Twitter, giving the figures 150 million users versus 140 million. 
 
Those figures have not been confirmed by either company. 
 
Snapchat disclosed last month that it raised more than $1.8 billion in new funding.

Messaging app Snapchat by year's end will have more US users than either Twitter or Pinterest

Messaging app Snapchat by year's end will have more US users than either Twitter or Pinterest, a market tracker said on Wednesday. The number of people using Snapchat in the United States will leap more than 27 per cent this year to 58.6 million, meaning that nearly one in five people in the country will be using the service, according to an eMarketer forecast. Twitter was expected to have 56.8 million US users this year, and online bulletin board Pinterest to have 54.6 million users. By the year 2020, the ranks of US Snapchat users was expected to swell to 85.5 million, according to the report. However, eMarketer forecast that Facebook Messenger smartphone communication application would remain in the lead in this segment with its US user base growing from 105.2 million this year to 139.2 million in the year 2020. Snapchat estimates it has more than 100 million users globally of the service for sending videos, images and text messages which vanish after being viewed. Some reports say it generates 10 billion video views per day. Snapchat's allure includes letting users "cut through the clutter by injecting fun back into social sharing," according to eMarketer analyst Cathy Boyle. Snapchat has also tapped into an interest, particularly among young internet users, in communicating intimately with one or a few people instead of broadcasting messages across networks, the analyst said. The messaging service has been working with media partners and advertisers to reach its youthful audience. Snapchat this week rolled out a redesign making it a more attractive stage for publishers or brands to attract online audiences. A recent Bloomberg news report maintained that the number of people using Snapchat daily around the world already outnumber those using Twitter, giving the figures 150 million users versus 140 million. Those figures have not been confirmed by either company. Snapchat disclosed last month that it raised more than $1.8 billion in new funding.

Snapchat seen surging past Twitter, Pinterest in US

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