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发表于 2014-8-7 20:47:07
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Part II: Speed
NHN Japan spins off its Line messaging business to focus on its international expansion
MATT BRIAN
[Time 2]
Demonstrating the strength of its massively popular Line messaging apps and services, NHN Japan — the Japanese arm of Korean search giant Naver — announced today it is to split gaming and Internet services businesses, spinning off its messaging, search and Web portals into a new company.
NHN Japan says that smartphone and PC game development will now be handled by Hangame Corporation, which will continue to build on its Line Game brand, strengthening its position as one of Japan’s top online gaming businesses.
The newly created Line Corporation will now be tasked with the development of the Line messaging service, Naver Web portals, and operation of the Japanese ISP Livedoor. Line Corp. is tasked with becoming the number one domestic media company.
NHN also has eyes on expanding its overseas business, announcing that it establish a joint-venture named Line Plus Corporation in Japan. Here’s where it gets confusing: Line Corp. will hold a 60 percent share of Line Plus Corp., while NHN’s Korean parent will hold a 40 percent share.
Mobile messaging has become a huge business in Asia, proved by the fact that Naver’s Line app hit 100 million downloads, just 18 months after launching. The company runs its own virtual currency, and expanded it to its global userbase in August 2012.
The dominance of Naver’s online services in Asia is the primary reason Yahoo decided to close its Korean business. But that hasn’t stopped Yahoo teaming up with Kakao, the Korean maker of mobile focused WhatsApp-like VoIP app Kakao Talk, to take on Line.
The two companies will work together to promote and market the service, which has over 65 million global users in Japan.
With Line, Naver and Livedoor now free from NHN’s gaming business, its parent hopes that it will make it more flexible, increasing its competitiveness both locally and in global markets.
[306 words]
Source: TNW
http://thenextweb.com/asia/2013/02/06/nhn-japan-spins-off-its-line-messaging-business-to-focus-on-its-international-expansion/
New York luster may lure Japan messaging app Line's IPO away from Tokyo
BY EMI EMOTO AND SOPHIE KNIGHT
[Time 3]
(Reuters) - Tokyo may struggle to get a piece of a listing that could value Japan's social messaging service Line Corp at up to $20 billion, with bankers saying New York is a more likely venue as a base for global expansion to build on explosive growth at home.
Line's parent company, Naver Corp of South Korea, said on Wednesday that Line had kicked off its listing process with a first application for an initial public offering in Tokyo. The Line messaging app has been downloaded 480 million times, with growth of 140 percent over the last year, making it one of the world's most popular messaging services, albeit with comparatively low exposure in the United States.
But banking sources say the listing will ultimately be either a dual U.S.-Japan listing, or a listing only in the United States - and the latter option matches Line's growth ambitions. Line is keen to capture a global audience amid a land grab among messaging apps, with WhatsApp bought by Facebook Inc in February for $19 billion and Viber snapped up by Japanese online retailer Rakuten Inc.
"It makes sense to list only in New York. They are a global company and get 85 percent of their business outside of Japan," said one source at a foreign bank in Tokyo familiar with the company's strategy.
"The potential downside of a dual listing is that you split the liquidity into two exchanges ... You also have the cost to list in two places and to maintain listings in two places."
[256 words]
[Time 4]
Another banking source with knowledge of plans said Line would like to list in its home country, still its most lucrative market and familiar territory to its top executives. Yet its parent company Naver is wary of the costs of a dual listing and favors New York's higher volume and global profile.
The banking sources requested anonymity because they are not authorized to speak publicly on the matter.
"It has not been decided whether Line will eventually go public, which exchange it will be listed on and when it will be listed," Naver said in its filing. A spokeswoman for Line said in Tokyo that it was exploring many possibilities and that nothing had been decided yet.
Line's app recorded 14.6 billion yen ($145 million) in revenue in January-March - a more than threefold increase on the year. The app's full-year sales hit 34.3 billion yen last year, becoming the highest-grossing non-game app of 2013, according to analytics firm App Annie.
INAUSPICIOUS TIMING?
One of the banking sources told Reuters on Tuesday that Line had applied for an IPO in Tokyo around two weeks ago, valuing the company between 1 trillion and 2 trillion yen ($10 billion-20 billion). The source said Nomura Holdings Inc and Morgan Stanley would manage the IPO.
The source at the foreign bank in Tokyo said Line would likely launch the IPO in October and list in November. If the IPO were to take place in Tokyo, its minimum value would be between 350 billion and 700 billion yen ($3.44-6.88 billion), based on the Tokyo Stock Exchange's requirement that at least 35 percent of a company's shares must be floated to make the first section of the exchange.
[282 words]
[Time 5]
A New York-only listing would reinforce the city's appeal as a financial center for new technology businesses. Alibaba Group Holding Inc, China's e-commerce giant, eventually chose New York for its massive IPO. While it initially preferred Hong Kong as the venue, it changed tack as its shareholder structure did not pass muster with regulators there.
Yet neither Tokyo nor New York looks particularly hospitable for a Line listing at this time, however.
Some U.S. tech shares weakened on Tuesday after Federal Reserve Chairman Janet Yellen said in congressional testimony that equity valuations of social media and biotechnology firms appeared to be stretched and high relative to historical norms.
In Japan, several large IPOs this year have been hit hard after their listing, with panel maker Japan Display Inc, the largest so far this year, dropping nearly one-third from its IPO price since it listed in March.
For the U.S. element of its listing, Line has yet to decide between the New York Stock Exchange and the tech-oriented Nasdaq exchange, one of the banking sources said. Line only has a small presence in the United States, where the app has been downloaded just 10 million times and is likely to use funds raised in the IPO to expand its audience there, analysts say.
"(The IPO) would provide Line with the resources and recognition it needs to compete in the next level of chat wars," said Neha Dharia, a senior analyst at technology research firm Ovum.
Naver's share price dropped 3.4 percent on Wednesday while Seoul's benchmark Kospi index closed flat.
[259 words]
Source: Reuters
http://www.reuters.com/article/2014/07/16/us-line-ipo-idUSKBN0FK0KL20140716
From Japan, The Biggest Social Network You Never Heard Of
By John Stampfel
[Time 6]
The Japanese spend a lot of time commuting, and mobile devices are an essential part of the journey. Commuting accounts for 28 percent of mobile-device usage time in Japan, with social-media consuming a hefty chunk of it.
Nine months ago, nearly everyone on my daily commuter train was using Twitter, which now has 20 million users in Japan. But most of have since switched to the homegrown platform, Line, which was launched in 2011 by NHN Japan after the Tohoku earthquake. The name refers to the lines that formed outside of public phones after the disaster.
Driven by strong advertising support and celebrity endorsements, the app, which provides free IM and calling via smartphones, tablets and desktops, is now the world's fastest-growing social network. It recently reached 50 million followers in just 399 days. In January 2013, Line's total number of Japanese followers hit 40 million; and a whopping 60 percent of Japanese women in their 20s and 30s, Line's research shows, use the platform every day.
Line and its parent NHN (which also owns Naver, Korea's largest search portal) have monetized the network by motivating users not only to follow brands but to take action, which has made Line incredibly attractive to marketers in retail. According to research commissioned by Line, more than half of female users follow official brands. In addition, 63 percent of all users read brand messages, 32 percent have used a coupon delivered via Line, and 27 percent have clicked on a link.
Unlike Facebook, however, advertisers can use the platform only if they pay. There is a fixed-rate card, and the number of messages is strictly controlled. For example, a four-week campaign with five messages will cost 8 million yen ($81,000), while a 12-week campaign offering 15 messages (at a maximum of two per week) will set you back 15 million yen ($151,000).
[309 words]
[REST]
Brands can use messages to link to content or offer coupons, presents and prizes. There are additional charges if brands want to create sponsored stamps, a form of emoticons that are hugely popular in Manga-obsessed Japan.
These are based on client creative but generated by Line. And marketers have major incentives to remain on Line for the long haul, as a decision to stop paying means a brand's account is deleted and it loses not just followers but the content that was created.
None of this tight control has put off potential advertisers, which now includeCoca-Cola, Lawson convenience stores and the Sukiya fast-food chain. When Matsumoto Kiyoshi, a drug store chain, needed to attract more customers aged 10-20, it offered a 10%-off coupon via Line and, within five days, more than 10,000 people had used one -- half of them in the target group. An additional 300,000 people also started following the brand on Line.
One of the most remarkable aspects of Line's fast rise and its ad-funded business model is that so many businesses have bought into it so quickly. While consumers are quick to leap onto the next big thing, businesses in Japan are notoriously wary of new platforms. The constant search for first-mover advantage is simply not as ingrained in the marketing psyche as it is in Western countries.
As Line becomes more global, NHN will get the chance to see whether these characteristics apply outside of Asia. Early results appear promising: Line claims on its English-language website that it is the most downloaded app in more than 40 countries and available in 230 markets. Services such as avatar community Line Play have recently become available in English, and the app itself is available for iPhone, Android, Blackberry and Windows phones. In February, Line signed a deal with Nokia to make it available on Asha handsets across Asia. Line's status as the biggest social network you've never heard off won't last for long.
[326 words]
Source: Ad Age
http://adage.com/article/global-news/meet-line-japan-s-biggest-social-network-heard/242079/
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