Telecom Mogul Li Ka-Shing Takes Stake in Spotify

Jennifer Martinez on August 20, 2009

logo4Hutchinson Wampoa Chairman Li Ka-Shing participated in Spotify‘s recent financing round and took a stake in the European music streaming web site, Forbes has confirmed. With Li’s foot in the door, the telecom mogul will likely look to marry Hutchinson Wampoa-owned mobile handset maker INQ with a mobile application from Spotify. INQ sells cheap, social network-focused phones including a Facebook-oriented device; a Twitter handset is due to hit the market at the end of this year. Read More about Telecom Mogul Li Ka-Shing Takes Stake in Spotify

Facebook Soon to Appear in 3G?

Stacey Higginbotham on March 27, 2008

Facebook users can already access the site on their mobile phones through the Facebook mobile page, but apparently the combination of the social network and 3G networks is what prompted Hong Kong tycoon, Li Ka-shing, to up his stake in the company to more than $100 million from $60 million.

Li talked about his Facebook investment on an earnings call for Hong Kong conglomerate Hutchison Whampoa this morning, where he is chairman. MarketWatch reported that Li is willing to invest even more because “we could have some synergy between the 3G services of Hutchison and Facebook, so the customers could use Facebook on mobile phones.”

Hutchison, which provides 3G service in Asia, Europe and the Middle East under the 3 brand, has lost more than $16 billion since 2002 building out 3G networks. In fact Hutchison today reported that its 3G services turned cash-flow positive for the first time in 2007, with 17.6 million subscribers worldwide and total sales of HK$ 59.91 billion ($7.7 billion). However, it still reported a net loss of $2.31 billion on 3G services.

An alliance with Facebook might be a way to pump up the brand a bit more. Actually, this looks remarkably similar to Microsoft’s reason for investing in Facebook. And who wouldn’t put a $15 billion valuation on sex appeal?