Line’s COO Formally Takes Over As CEO To Flip The Messaging App Into A Cellular Providers Platform
Three months after saying the transition, Line has formally acquired shareholder approval to nominate Takeshi Idezawa, the messaging app’s former chief working officer, as its chief government officer. The corporate stated that Idezawa will take over the reins from its earlier CEO, Akira Morikawa, at present.
Morikawa will transfer on to a place as an advisor.
It has been a busy yr for Line because it seeks to rework itself from a messaging app right into a platform that gives a wide selection of providers for customers to entry from their smartphones. In accordance with Line, Idezawa’s accomplishments throughout his 12 months as COO embrace Line’s new “LIFE platform technique,” which needs to show the app into “an integral a part of on a regular basis life in an period the place smartphones have advanced into an indispensable gadget for individuals everywhere in the world.”
The “LIFE platform technique” has included the creation of a $forty two million fund to spend money on corporations that present on-line-to-offline, e-commerce, cost, media, and leisure providers that may probably be built-in into Line’s core app.
One of many principal causes Line is specializing in including extra providers to its platform is to ensure that its earnings are not so intently tied to its essential messaging app (which monetizes via branded accounts and the sale of stickers) or its related video games platform. Income from video games have plateued for Line, in addition to different messaging apps like WeChat.
The corporate can also be key to develop outdoors of Japan, Taiwan, and Thailand, its key markets in Asia. Final yr, Line postponed its IPO to concentrate on its international enterprise, with Idezawa saying that it will localize options for various markets, like voice providers in Europe.