Ann: Revenue Guidance for Q1 2020, page-21

I don't work for APV, but I think its pretty obvious that these expenses are just a Facebook advertising campaign, if you look at the growth rate of Facebook likes. it explains how they have secured customers broadly across emerging markets. Who are harder to reach. It is expensive now. But cross selling, diversification of products throughout all geographies will reduce these expenses. Should see a plateau of corona-virus cases mid April, similar to SARS. As it is the festive season in Asia that drives its growth. The willingness of central banks to cut interest rates quickly, is also a positive and will encourage a bullish sentiment eventually. App creation is going to be a movement. This is my theory and my opinion.