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has 846m active monthly subscribers.
Could one call these a captive audience controlled by COMMUNIST CHINA who was made great by stupid Republicans/trump voters buying COMMUNIST IMPORTS manufactured in outsourced COMMUNIST CHINESE factories that Republican didn't prevent leaving american ?
Making america Great Again!
I'm pretty sure that China's killer app is toothpaste made with lead.
China's Tencent becomes more valuable than Facebook. Chinese social media and video game giant Tencent became more valuable than Facebook on Tuesday as investors sent the company soaring into the top five of the world's biggest firms.
Tencent's Hong Kong-listed shares have doubled in value this year, and on Monday it became the first Asian company with a market capitalisation of half a trillion dollars.
By the end of the trading day on Tuesday, Tencent's outstanding shares were worth a combined 4.08 trillion Hong Kong dollars ($523 billion), surpassing Facebook's $519 billion.
Despite its stratospheric climb, Tencent is still some way behind the world's most valuable company, Apple, which is currently valued at $873 billion.
Last week, Tencent said profit had grown nearly 70 percent in the third quarter, when compared with the same period last year, well outpacing expectations. Its accelerating growth has sent its shares shooting higher in recent days.
It is, says one banker, “a social enterprise powerhouseâ€: under one roof, it has amassed China’s answer to Facebook, WhatsApp, Spotify, Kindle and ApplePay. Chi Tsang, internet analyst at HSBC, says Tencent has “the most killer apps in the worldâ€. Weixin, along with the WeChat app outside China, has 846m active monthly subscribers.
Tencent also has a huge multibillion investment portfolio, ranging from stakes in Didi Chuxing, China’s biggest ride-sharing company, through to start-ups. It dabbles in artificial intelligence, electric cars and bike sharing. Its posse of champion hackers managed to gain remote control of Tesla’s Model S, forcing the US carmaker to roll out a security patch.
Tencent has an overseas presence in many sectors — its WeChat payments app can even be used at Caesars Palace in Las Vegas. “They are everywhere, the US, Europe — especially among Chinese speakers because if you want to contact business or family in China there is only one way to contact them, and that’s WeChat,†says Elinor Leung, a research analyst at CLSA.
Tencent is an avid dealmaker. In the past 18 months the company has spent $37.65bn on acquisitions, according to Dealogic data — more than the $26.6bn spent by Sequoia, the Silicon Valley venture capital group, over the same period.
Tencent is helped in its investment endeavours by having bankers at the top. Both Martin Lau, president, and James Mitchell, chief strategy officer, are Goldman Sachs alumni.
Full Article: http://nicosiamoneynews.com/2016/12/15/tencent-inside-chinas-killer-app-factory/ (Note: Somewhat long read)
#Tech #Investing #China #Tencent
Related: Kingmakers of China’s Internet: Baidu, Alibaba and Tencent. http://www.wsj.com/articles/kingmakers-of-chinas-internet-baidu-alibaba-and-tencent-1445451143
Related: Tencent Misses On Profits, But Who Cares? http://seekingalpha.com/article/4026989-tencent-misses-profits-cares
Related: NetEase: Chinese Gaming Juggernaut Flying Under The Radar. http://seekingalpha.com/article/4030121-netease-chinese-gaming-juggernaut-flying-radar