Asia’s most valuable company, with 37Coins Plans Worldwide Bitcoin Access With SMS-Based Wallet revenue growth, massive user base and investments into new areas. Tencent was founded by Ma Huateng, Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing in November 1998 as Tencent Inc. Riot Games, developer of League of Legends, for about USD 230 million.
On January 15, 2014, Tencent said it will invest HKD 1. China South City Holdings Ltd to develop its e-commerce and logistics business. On January 30, 2015, Tencent announced that it had signed a USD 700 million deal with the National Basketball Association to stream American basketball games in China. On February 27, 2015, Tencent announced that it had acquired a minority stake in Robot Entertainment, the developer of the Orcs Must Die! In 2016, Tencent, together with Foxconn and luxury-car dealer Harmony New Energy Auto founded Future Mobility, a car startup that aims to sell all-electric fully autonomous premium cars in 2020. In May 2017, Tencent surpassed Wells Fargo to enter the world’s top 10 most valuable companies. In June 2017, Tencent became the 8th most valuable company in BrandZ’s Top 100 Most Valuable Global Brands, signalling its growing influence globally as well as the rise of Chinese brands.
Hong Kong stock market, and the market value reached USD 429 billion. In September 2017, Tencent has announced plans to introduce Chinese online comics to every market around the world, with the first being North America. It will be working with San Francisco-based digital publisher Tapas Media, a partnership that will see English-language releases of a number of popular online Chinese titles. Nintendo Switch, causing Nintendo’s stock to hit a 9-year-high, as well as JD.
Snap Inc in the open market, with plans to help establish Snapchat as a gaming platform. On 22 November 2017, Tencent formally entered into a strategic cooperation with PUBG corporation and obtain exclusive rights to operate ”Playerunknown’s Battlegrounds” in China. On 23 November, Tencent and Hong Kong railway Co. Ltd fomally signed a cooperation agreement. In January 2018, Tencent and The Lego Group, the world’s largest toy company, are teaming up to jointly develop online games and potentially a social network aimed at children. On January 23, 2018, Tencent and Carrefour reached strategic cooperation agreement in China.
19 seconds to generate as many claps as possible for Xi. The TGP BOX is called the Blade. It is an Intel- powered console running Windows 10 and a TGP Box mode. So far, the TGP console has imported many Tencent games, such as League of Legends, FIFA Online 3, NBA 2K, Monster Hunter, Need for Speed, etc.
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Tencent hopes to bring third-party developed games. In 2011, Tencent started hosting the game League of Legends. Tencent’s online currency, QQ Coins, can be used to purchase virtual goods. Apple and Spotify are facing threat from Tencent, especially in South-East Asia. Also, Tencent is expanding aggressively in India.
Tencent offers a variety of services to consumers and businesses. Tencent operates its own credit score system called Tencent Credit. Launched in February 1999, Tencent QQ is Tencent’s first and most notable product, QQ is one of the most popular instant messaging platforms in its home market. While the IM service is free, as of 2006 a fee was being charged for mobile messaging.
An avatar-based social platform like Cyworld, QQ Show facilitates purchasing virtual goods to outfit avatars, which can also be used with QQ Instant messenger. An English version of QQ that allows communication with mainland accounts, QQi is available for Windows and macOS. QQ, Qzone as of 2008 has become one of the largest social networking service in China. Tencent used to offer a number of online, multiplayer games through its game portal QQ Games. It is the most popular social mobile application in China and some overseas Chinese communities, for instance, Malaysia. It was shut down on April 1, 2016 and the site redirects to JD. Tencent was reported in 2017 to be working with China’s Central Bank to develop a central payments clearing platform for online payments.
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If successful, this move would incur greater regulatory oversight. A Chinese microblogging service, Tencent Weibo competes with Sina Weibo. Chinese film production company owned by Tencent. It has created film based on books, comic books, animated series and video games. TQQ is China’s first “smart interactive television service” and a joint effort with TCL. QQ Haiwai is Tencent’s first venture into international real estate listings and information and is the result of a partnership with Chinese international real estate website Juwai. Haiwai was announced at Tencent’s annual regional summit in Beijing on 21 December 2016.
Tencent Video is a video streaming website owned by Tencent. A peer-to-peer distribution platform for streaming media. In 2008, Tencent released a media player, available for free download, under the name QQ Player. It is available in Chinese for free, and English with a payment. In late April 2017, Tencent announced it was preparing to launch its virtual reality headset that year.
Tencent has at least four wholly foreign owned enterprises and nearly twenty subsidiaries. A software development unit that has created, among others, Tencent Traveler and later versions of QQ IM, as well as some mobile software. Many of Tencent’s software and services are remarkably similar to those of competitors. The founder and chairman, Huateng “Pony Ma” Ma, famously said, ” copy is not evil. A former CEO and President of SINA. Though Tencent is notorious for its copying acts, it is also known for its own innovations in these copies to conform to Chinese consumers’ tastes. As of 2009, the company held 400 patents.
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In 2015, security testing firms AV-Comparatives, AV-TEST and Virus Bulletin jointly decided to remove Tencent from their software whitelists. The People’s Daily published two articles criticizing Tencent owned game King of Glory, due to its purportedly addictive nature among Chinese youth. Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders, Pg. 111-112 Ilan Alon and Wenxian Zhang. Tencent’s 60,000pc gain a huge venture capital payoff”.
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Tencent, More Than QQ Instant Messaging In China Archived 2009-04-26 at the Wayback Machine. For Chinese IM Portal Tencent, The Money Is In Micro-Transactions techcrunch. Tencent Music drowns out Spotify and Apple”. Revealed: Billboard’s 2017 Digital Power Players, Guiding the Future in Music and Tech”. Tech in Asia – Connecting Asia’s startup ecosystem”. Tencent spikes on music arm move”. Stock watchers shrug off Tencent rout”.
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9 billion in annual revenue, its highest growth since 2012″. Tencent Passed Wells Fargo As World’s 10th Biggest Company”. World’s 50 Most Innovative Firms Include Tencent, Huawei and Lenovo”. BCG: Tencent is the Most Innovative Company in China in 2015″. Tencent’s Profit Is Better Than Expected”. China Now Has 2 of the Top 10 Most Valuable Brands in the World For the First Time”. Alibaba: Complex Cross-Ownership Structures Cause Criminally Undervalued Chinese Super-Conglomerates”.
China’s Tencent is the Most Active Corporate Investor in Asia’s Tech Startups”. 2008 Annual Report Archived 2009-12-29 at the Wayback Machine. South African media group struck gold by taking a chance on Tencent”. A Chinese Web Giant’s Sizzling Success Archived 2009-07-08 at the Wayback Machine.
Tencent Interim Report 2011 Archived 2014-03-08 at the Wayback Machine. Riot Games now owned entirely by Tencent”. Gears of War studio sells minority stake to Chinese Internet company”. 98 million In US 52 million Round”. Two tech giants are behind the pick-up in China IPOs on US exchanges”.
448 million in Chinese search engine Sogou”. 193 mln in China South City Holdings”. Tencent Takes a Stake in Dianping For O2O Plan”. Archived from the original on 24 September 2015. Tencent Interim Report 2014 Tencent Official Site, Retrieved 2014-10-23. 500 Million for Stake in CJ Games”. Rival Ganji as Tencent Raises Stake”.
Tencent to Distribute HBO Dramas, Movies Online in China”, The Wall Street Journal, 24 November 2014. Tencent launches China’s first online-only bank”. NBA Expands China Business With Five-Year Tencent Extension”. Chinese auto brand to sponsor Tencent’s NBA coverage”. Tencent makes minority investment in Robot Entertainment”. Tencent to Become China’s Top Music Company Following Deal”.
Tencent-Backed Company Aims to Launch Smart-Electric Cars Before 2020″. Chinese tech giant Tencent takes 5 percent stake in Tesla”. Tesla Gets Backing of Chinese Internet Giant Tencent”. Tencent pushes into news feed and search in challenge to Baidu”.
Steam has a massive new competitor”. Tencent barges into world’s 10 biggest firms – Global Times”. Tech giant Tencent’s market cap swells into world’s top 10″. Tencent shares continue to soar, pushing Hang Seng higher”.
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Tencent ranked eighth most valuable brand in the world as Chinese brands storm top 100 list”. China’s Tencent cracks top 10 ‘most valuable’ brands list”. Tencent ranks in top 10 of global brands, signals China’s emergence”. Tencent eyes ‘Angry Birds’ maker Rovio to strengthen its mobile gaming dominance”. Next Challenge Is Rest of the World”. There’s a new king of Chinese tech”.
Tencent joins the fray with Baidu in AI apps for self-driving cars”. Tencent to bring Chinese comics to North American readers”. Tencent Music in harmony with Alibaba following rights deal”. Alibaba, Tencent sign music-streaming rights deal”. Tencent to use AI and games to push under-developed ads business”.