Tencent
Tencent Holdings Ltd, also known as Tencent, is a Chinese multinational technology conglomerate holding company. Offerings in China include the instant messengers Tencent QQ and WeChat, and one of the largest web portals, QQ. com. The company surpassed a market value of US$500 billion in 2018, becoming the first Asian technology company to cross this valuation mark. Tencent is the world’s largest video game vendor, and is among the largest social media, venture capital, and investment corporations.
About Tencent in brief
Tencent Holdings Ltd, also known as Tencent, is a Chinese multinational technology conglomerate holding company. Founded in 1998, its subsidiaries market various Internet-related services and products, including in entertainment, artificial intelligence, and other technology. Offerings in China include the instant messengers Tencent QQ and WeChat, and one of the largest web portals, QQ. com. The company surpassed a market value of US$500 billion in 2018, becoming the first Asian technology company to cross this valuation mark. It has stakes in over 600 companies, recently focusing on tech start-ups in Asia. Tencent is the world’s largest video game vendor, and is among the largest social media, venture capital, and investment corporations. It also owns the majority of Global’s music services, with more than 700 million active users and 120 million paying subscribers. It owns a 20-percent stake in restaurant group Dianping.com, paying cash and handing over its e-commerce and logistics businesses to Wang Qipai. In January 2014, Tencent said it would invest 1.5 billion in logistics and warehouse firm HKD City Holdings Ltd to develop e- commerce and logistics business. On 17 September 2013, it invested USD 448 million for minority share in Chinese search engine Sogou com, the subsidiary of Sogu Inc. In March 2014, it bought a 15 percent stake in Chinese e-tailer JD.com Inc. and handed over its businesses to its subsidiary, Q-gai Holdings Ltd.
On 16 December 2015, Riot Games sold its remaining equity to Tencent Holdings. Tencent acquired a minority stake in Epic Games, developer of franchises like Fortnite, Unreal, Gears of War and Infinity Blade, in June 2012. It took part in Activision Blizzard splitting from Vivendi as a investor in 2013, and now owns less than 9% of the shares as of 2017. It now owns a passive 4.5% stake in the company, and has a 5% passive stake in QQ, the largest Chinese web portal. As of 2018, Ten Cent has the 5th highest global brand value. It was listed on the Hong Kong Stock Exchange on 16 June 2004, and it was added as a Hang Seng Index Constituent Stock in 2008. It originally derived income solely from advertising and premium users of QQ,. But by 2005, charging for use ofQQ mobile, its cellular value-added service, and licensing its penguin character, had also become income generators. On 21 January 2011, Tencence launched Weixin, a social media app, and its over 1 billion monthly active users. Now branded as WeChat,. the app is one of world’s most powerful social media apps, due to its wide range of functions and platforms, andIts over 1billion monthly active Users. In February 1999, Ten cent’s messenger product OICQ released. Shortly after, Tenent had the client’s name changed to QQ; this was said to be due to a lawsuit threat from ICQ and its owner AOL.
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This page is based on the article Tencent published in Wikipedia (as of Dec. 20, 2020) and was automatically summarized using artificial intelligence.
