Line invests 4.6b yen in Naver’s selfie app Snow

[THE INVESTOR]  Mobile messenger firm Line announced on Sept. 29 that it would invest 4.6 billion yen (US$45.32 million) in selfie app Snow, wholly owned by Korean internet giant Naver .

With the latest round of investment, Line, a subsidiary of the internet firm, will acquire 25 percent of the voting shares for Snow.

The Snapchat-like mobile app, which enables users to take filtered selfies or face swap in a picture, has recently garnered immense popularity among mobile users, especially in Asia. 

The number of its subscribers tripled in five months since March from 1.28 million to 5.15 million in Aug, according to research firm WiseApp.

By Kim Young-won (wone0102@heraldcorp.com)