Chat Application line cooperate with American venture capital company to set up VC fund

Chat application line with the U.S. venture capital company to form a VC fund "techweb Report" July 21 News, a few days ago, the Japanese mobile chat application developers line and the U.S. venture Capital Company Collaborative fund joint venture to set up an investment fund, specifically aimed at American start-up companies. The latest partnership underscores the line's international expansion ambitions, which wants to break through the confines of the local market and diversify its products, not just chatting tools. In this respect, collaborative Fund CEO Cregg Chapillo (Craig Shapiro) said that the Fund's current volume of less than 10 million U.S. dollars, they will focus on the development of the earliest start-up companies. It is understood that line in Japan has a large number of users, the total number of users worldwide more than 430 million. The company is considering IPOs in Tokyo (IPO). South Korean Naver, its parent company, said the company could be listed in Japan or the United States and could also be listed in both countries. Line last year cut U.S. marketing spending as it struggled to expand the U.S. market. Line allows users to communicate through cartoon stickers, thus giving the traditional chat mode fresh energy. It is more like a media-centric company. ' Chatting is just a transmission mechanism, ' Ms. Shapiro says. A line spokeswoman said the company's executives were unable to comment.