For many years Google Chrome, Mozilla Firefox and Opera have been three of the best-known chefs, the latter being the most popular but the most popular among its users (I remember that between 2016 and 2018 Opera was a great browser for my laptop being the the best he took care of his battery).
Opera loans are brutal, where being a small browser is not big business
Opera is a browser that has never reached a large proportion of users, but is undoubtedly popular for its many functions in products that have maintained excellent performance, especially in the mobile marketplace with products like Opera Mini, browser in the early years of Android was the best way to use the Internet on a mobile device and in between.
Back in mid-2016 this spin-off method received 600 million shares from Chinese companies made by these companies: Kunlun Tech, limited, future Holding LP, Keeneyes future Holding Inc, Qifei International, Development Co Limited and Golden Brick Capital Private Equity Fund I. -PBeijing Kunlun Tech Co Ltd. and Qihoo 360. The latter company participated in the dispute a few days ago over information they received from Samsung's mobiles through its City Care app.
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Also planned to make this Chinese merger is Opera, a browser with a market share where the potential is up to 6%. It's a battle between many browsers where even Mozilla is forced to destroy Chrome domain employees. And how do they make money? Yes, as do many other companies: intervening in new business environments.
The path that Opera seems to have taken is this Fintech, a financial technology company, a factor that in one year of operation goes from being unavailable to 42% of revenue.
According to Hindenburg Research, Opera would receive the money abusive loan applications with up to 876% interest in countries such as Kenya, India or Nigeria, countries where the economy is low and this type of microcredit seems to work just fine as a business.
In addition to the ethical issues of this type of business, the use of Opera will be in violation of Google Play's policy regarding loans less than 60 days, a policy that appears to violate all Opera programs.
Opera loan applications that violate Google Play policy
If we go to the Opera Developer page you will not find any loan application, and it is usually because of the profiles assigned to each lending company.
Opera's official answer
Given the controversy, Opera has provided this official statement on its website for investors in relation to the latest events, which deny the allegations.
"The company is aware of and carefully reviewing this report published on January 16, 2020. The company believes that the report contains numerous errors, omitted statements and misleading conclusions and misconceptions regarding business and company events."
«Recently the company has launched and promoted many new businesses and continues to show strong financial results, and strives to deliver its brand and base of 350 million users to drive growth. The company is committed to maintaining the highest standards of corporate governance and natural evolution of our products, practices and governance.
To the best of your ability, the official Opera response seems to be vague and conspicuous. If you think that they have carefully reviewed the report, the only response they make is that they are wrong without publishing changes that can raise more questions than answers. Obviously, Opera doesn't have to give details of the accusations that they consider unconfirmed and in these cases it is best to act wisely. Which means that a more detailed statement will eliminate all doubts.
What about the browser?
According to a Hindenburg study, it's only a matter of time before Google realizes the practices of these loan applications and finally finishes them in the Play Store. Since these developer apps are linked to an Opera Developer account, it is very likely that a web browser may not end up happening.
However, if the allegations are true, it may be time to bid farewell to Opera, as the company's future may not work.