Tencent is an internet-based technology and cultural enterprise headquartered in Shenzhen, China. Founded in 1998 by five founders, Ma Huateng, Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing. It is one of the largest Internet number of comprehensive service providers in China and one of the Internet company with the huge numerous of users in China.
Tencent has two principal business operations, ‘social platforms’ and ‘digital content’. From comics, videos, games and animation to music, literature, films and news, Tencent offers an incredible array of first-class digital content and multi-media services, providing entertainment and cultural enrichment to over 1 billion user across the globe. Tencent also provides cutting-edge financial technology and seamless mobile payment solutions that are helping support the development of smart cities, smart transport and smart retail.
Tencent’s mission is to “improve the quality of life through Internet value-added services”. This will be done via the delivery of integrated internet solutions to billions of netizens through its “user oriented” business philosophy.
The Products and Services of Tencent
Tencent’s services include social network, music, web portals, e-commerce, mobile games, internet services, and payment system. The products include the social communication platforms ‘WeChat’ and ‘QQ’ , QQ Music, Tencent News, Tencent Video and so on.
WeChat is the one of most famous and popular app in China and world, which is a multi-purpose massaging, social media and mobile payment app developed by Tencent. It was created by Zhang Xiaolong and named “Weixin” by Ma Huateng.
WeChat is connecting a billion people with calls, chats, and more. WeChat might haven’t yet to match the global reach of Google, Facebook or Twittter, its could be among to gain a major international users in the world.
According to the latest Tencent’s report, WeChat payment has been successively opened in many countries and regions. It can be made and also supports local currency payment in Hong Kong, Taiwan, Thailand, South Korea, Japan, Singapore, New Zealand, Australia and Canada.
Tencent is running one of the largest and most active investment funds in Asia. It is surpassed the market value of US$500 billion in 2018, becoming the first Asian technology company to cross the valuation mark. It has since then emerged as one of Asia’s most valuable companies, and among the world’s top technology companies by market value. Tencent has been credited as one of the world’s most innovative companies by numerous media and firms, including Boston Consulting Group. As of 2018, Tencent has the 5th highest global brand value.
According to IT Juzi, Tencent has invested over 422 billion yuan in over 350 companies since 2012. Considering the undisclosed deals, the actual investment amount is much higher. The graph below its fund portfolio spans various industries, including transportation, medical & health, business service, lifestyle, and finance.
Martin Lau is the president of Chinese multinational investment holding company Tencent. In an internal conference, Martin disclosed that Tencent investment fund portfolio (of 600 companies in total) grew 113% in 2017, a speed that surpassed the growth of Tencent. Some of the successful IPO cases Tencent invested in include Sogou, Yuewen.com, ZhongAn Online, and Yinxin Group Limited.
Tencent is keep seek market growth over the world. Based on John’s article in Fortune, Tencent has strategy plan to grow up market outside China since 2014. As Tencent’s influence keeps expanding via investment deals, users can expect a more integrated ecosystem linking the online and offline world.