AAA Line boosts its Snow stake

Line boosts its Snow stake

South Korea-based ephemeral photo messaging app Snow has received additional investment from messaging company Line, TechCrunch reported on Monday citing a regulatory filing.

Line, which invested $45m in September 2016 in return for a 25% stake, now owns 48.6%. The transaction valued Snow at approximately $207m, an increase over the previous valuation of $177m.

Snow operates a mobile app that enables users to share photos and videos of each other. The shared messages can be enhanced with filters and stickers, and are automatically deleted a few seconds after they are viewed.

Line will hand over its own photo app business to Snow. That suite includes selfie app B612, the Line Camera app, food-focused app Foodie and makeup preview app Looks.

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