Tencent Holdings Intro
Tencent is a publicly owned Chinese Conglomerate industry that is serving very well with products including social networking, mass media, web portals, instant messaging, E-commerce, web browser, music, artificial intelligence, antivirus software, payment system, multiplayer online games and film production. In short, they are specialized in online services having net income of CN ¥72.471 billion and revenue of CN ¥237.760 billion generated in financial year 2017.
They are the leader providers of internet value added services in China counting out the only non-American company among the Top 10 most valuable global brands.
The company was founded on 11th November, 1998 by Ma Huateng, Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing as Tencent Inc and is headquartered in Shenzhen, China. The first three years of the company were totally with no profit later they started getting their profit from value added services, online advertising and others. In which the value added services comprises of online and mobile games and applications across various internet and mobile platforms whereas online advertising segment comprises of display and performance based advertisements.
Their first launch was an instant messaging service QQ in 1999 later they went for web portal- www.QQ.com entering into the world of online games market. On June 16, 2004, Tencent Holdings Limited went public on the main board of Hong Kong Stock Exchange. They are now working hard in every aspect to provide their users with new product that improve their world through technology.
Why is it popular?
The company is active in China as the biggest tech having worth more than Facebook. The share value of the company is also high on Hong Kong Stock Exchange and assumed to be valuing around $522 billion through social and as gaming giant according to FactSet in 2017.
They are also the owner of WeChat, the popular social media platform being its largest investor. It is a part messaging system- voice, video, and text- part ride-hailing, part micro-social media, part payment systems. The app has over one billion followers and one-third of those followers are on it for over four hours per day. Also Honor of Kings and League of Legends are its most popular games online.
In end, Tencent is looking for new options and has announced a new program that will essentially let other apps run on the WeChat app.