By Victor Hill It is more than 20 years since the internet revolution began. And yet not a month goes by without news of new internet-based businesses threatening to disrupt traditional business models. In the first of an occasional series I'd like to point my telescope towards a few rising stars in the firmament of cyberspace. Some of them are shining brightly – and some not. Supercell of Finland, founded in 2010, is the company behind Clash of Clans, the world's most popular mobile video game. In late June this year Tencent Holdings Ltd (HKG:0700), the Hong Kong-based internet giant, announced that it was effectively taking over the firm by buying an 84 percent stake for US$8.6 billion from Softbank (TYO:9984), the Japanese hi-tech incubator and investment conglomerate. (This may have been related to Softbank's acquisition of ARM Holdings, the British computer chip manufacturer, later that month.) This valued Supercell at US$10.2 billion. Softbank walked away with a hefty profit, having bought 51 percent of the company for around US$1.5 billion in 2013… Click Here To Read The Full Story The Master Investor Market Report - The FTSE 100 closed the day at 7,097.50, an increase of 53.11 points.
- The FTSE 250 fell 16.26 points to finish at 17,978.90.
- The FTSE All Share climbed 22.73 points to finish at 3,847.49.
- The FTSE AIM All Share ended the day at 825.73, down by 0.84 points.
Polling specialist YouGov (YOU) reported that revenues for the year ended 31st July climbed 16% to £88.2 million, driven by sales from the company's Data Products and Services division. Statuory profits before tax shot 106% higher to £5.5 million. Management are confident that this growth can be maintained despite the potential negative effects of certain macro developments. The shares rose by 3.5% to 220.50p. |
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