Trillion-yen Line IPO could include dual listing with New York Stock Exchange
Line Corp has applied for an initial public offering (IPO) on the Tokyo Stock Exchange, according to a rumor. The operator of the messaging service of the same name, owned by Naver of South Korea, is said to have made the request to the exchange two weeks ago, with the company claimed to be valued at over 1 trillion yen ($9.8 billion) by report sources.
Messaging app Line claims servers not hacked, blames user security lapses
Line is warning users of its messaging app to change their passwords, after a number of accounts were accessed illegally in the last month. Despite the password change request and the involvement of Japanese police in the reported intrusions, Line is claiming that its servers have not been hacked, and instead pins the blame on the hacked users themselves.
Android app users gain Line Call, iPhone to follow
Messaging service Line is expanding the usability of its Android app, and soon iPhone, from being able to make free calls to other Line members, by adding the option to call phones. Line Call will let users make calls to people in eight markets at a flat rate per minute, bringing the messaging app into direct competition with Microsoft's Skype, as well as potential calling plans from WhatsApp.
Line reaches 300M users, aims for 500M within 2014
Mobile messaging app Line has passed the 300 million user milestone, increasing from 200 million in just four months, with CEO Akira Morikawa aiming for the company to reach 500 million users in total within 2014. While the company has previously tried to drum up interest in the United States, Line states that the largest growth areas are in fact regions such as Spain and Mexico, with future expansion plans targeting India, Turkey, and Western Europe.