Tencent Holdings Limited (Chinese: 腾讯控股有限公司; pinyin: Téngxùn Kònggǔ Yǒuxiàn Gōngsī) is a Chinese multinational investment holding conglomerate founded in 1998, whose subsidiaries specialise in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally. Its twin-skyscrapers headquarters Tencent Seafront Towers (also known as Tencent Binhai Mansion) are based in Nanshan District, Shenzhen.
Tencent is the world's largest gaming company, one of the world's most valuable technology companies, one of the world's largest social media companies, and one of the world's largest venture capital firms and investment corporations. Its many services include social network, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones, and multiplayer online games, which are all among the world's biggest and most successful in their respective categories. Offerings in China include the instant messenger Tencent QQ and one of the largest web portals, QQ.com. It also owns the majority of China's music services (Tencent Music Entertainment), with more than 700 million active users and 120 million paying subscribers. The company 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.
Tencent controls hundreds of subsidiaries and associates in numerous industries and areas, creating a broad portfolio of ownerships and investment across a diverse range of businesses including search engine, e-commerce, retail, video gaming, real estate, software, virtual reality, ride-sharing, banking, financial services, fintech, consumer technology, computer technology, automobile, film production, movie ticketing, music production, space technology, natural resources, smartphones, big data, agriculture, medical services, cloud computing, social media, IT, advertising, streaming media, artificial intelligence, robotics, UAVs, food delivery, courier services, e-book, internet services, education and renewable energy. It is one of the most active investment corporations in the world, with stakes in over 600 companies, and recent focus on start-ups within Asia’s burgeoning tech scene.
|Tencent Holdings Limited|
|Téngxùn Kònggǔ Yǒuxiàn Gōngsī|
|Founded||11 November 1998|
|Headquarters||Tencent Binhai Mansion, Nanshan District, |
|Revenue||CN¥312.694 billion (2018)|
|CN¥97.648 billion (2018)|
|CN¥79.984 billion (2018)|
|Total assets||CN¥723.521 billion (2018)|
|Total equity||CN¥356.207 billion (2018)|
Number of employees
|54,309 (Dec 31 2018)|
"Tencent" in Simplified (top) and Traditional (bottom) Chinese characters
|Tencent Holdings, Ltd.|
Tencent was founded by Ma Huateng, Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing in November 1998 as Tencent Inc. Incorporated in the Cayman Islands, initial funding was provided to it by venture capitalists. In February 1999, Tencent's messenger product OICQ released. Shortly after, Tencent had its name changed to QQ; this was said to be due to a lawsuit threat from ICQ and its owner AOL. The company remained unprofitable for the first three years. South African media company Naspers purchased a 46.5% share of Tencent in 2001. (As of 2014, it owns 34%.) Tencent Holding Ltd 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. The company originally derived income solely from advertising and premium users of QQ, who pay monthly fees to receive added extras. But by 2005, charging for use of QQ mobile, its cellular value-added service, and licensing its penguin character, which could be found on snack food and clothing, had also become income generators. By 2008, Tencent was seeing profit growth from the sale of virtual goods. While Tencent's services have included online gaming since 2004, around 2007–2008 it rapidly increased its offerings by licensing games. While at least two, CrossFire and Dungeon Fighter Online, were originally produced by South Korean game developers, Tencent now makes its own games. On 21 January 2011, Tencent launched Weixin (微信), a social media app. Now branded as WeChat, the app is one of the world's most powerful social media apps, due to its wide range of functions and platforms, as well as having over 1 billion monthly active users.
On 18 February 2011, Tencent acquired a majority equity interest (92.78%) in Riot Games, developer of League of Legends, for about US$230 million. Tencent had already held 22.34% of the equity interest out of a previous investment in 2008. 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 Unreal, Gears of War and Infinity Blade, in June 2012. Tencent in 2013 increased its stake in Kingsoft Network Technology, a subsidiary of Kingsoft Corporation, to 18%. Tencent previously had a 15.68% stake in the company and raised the stake through a US$46.98 million investment. Tencent took part in Activision Blizzard splitting from Vivendi as a passive investor in 2013 and now owns less than 4.9% of the shares as of 2017. On 17 September 2013, it was announced that Tencent had invested $448 million for a minority share in Chinese search engine Sogou.com, the subsidiary of Sohu, Inc.
On 15 January 2014, Tencent said it will invest HKD 1.5 billion (US$193.45 million) in logistics and warehouse firm China South City Holdings Ltd to develop its e-commerce and logistics business. On 27 February 2014, Tencent purchased a 20-percent stake in restaurant ratings and group buying website Dianping for $400 million. On 10 March 2014, Tencent bought a 15 percent stake in Chinese e-commerce website JD.com Inc. by paying cash and handing over its e-commerce businesses Paipai, QQ Wanggou and a stake in Yixun to JD.com to build a stronger competitor to Alibaba Group. On 22 May 2014, JD.com got listed on NASDAQ and Tencent expanded its stake in the company to 17.43% on a fully diluted basis by investing an additional US$1,325 million. On 27 March 2014, it was announced that Tencent had agreed to pay about $500 million for a 28 percent stake in South Korea's CJ Games. On 27 June 2014, Tencent announced that it had agreed to buy a 19.9 percent stake in Chinese e-commerce website 58.com (WUBA) Inc. for $736 million. On 17 April 2015, Tencent announced it has bought an additional $400 million worth of shares, rising its stake in the company to about 25%. On 16 October 2014, via its wholly held subsidiary Hongze Lake Investment Ltd, Tencent announced that it had bought a 7% stake in lottery technology firm China LotSynergy Holdings Ltd for HKD 445.5 million (US$57.4 million). On 23 October 2014, Tencent pitched in $145 million for a 10 percent stake in Koudai Gouwu, a Chinese mobile shopping portal. In November 2014, the company announced a deal with HBO which would give it exclusive rights for distribution in China. On 9 December 2014, Chinese taxi-hailing app Didi Dache announced that it had raised more than $700 million in a funding round led by Tencent and Singaporean state investment firm Temasek Holdings.
On January 2015, Tencent launched WeBank (China), China's first online-only bank. On 30 January 2015, Tencent announced that it had signed a US$700 million deal with the National Basketball Association to stream American basketball games in China. Later that year, Chinese automaker BYD became the chief corporate sponsor for Tencent's NBA broadcasts. On 21 June 2016 Tencent announced a deal to acquire 84.3% of Supercell, developer of Clash of Clans, with US$8.6 billion. In July 2016, Tencent acquired a majority stake in China Music Corporation. 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. On 28 March 2017, Tesla, Inc. announced Tencent had purchased a 5% stake in Tesla for US$1.78 billion, the automotive control systems of which it subsequently successfully performed penetration-testing until 2019 In a "direct challenge to Chinese search engine Baidu," in May 2017 Tencent entered news feed and search functions for its WeChat app, which the Financial Times reported was used by 770 million people at the time.
In May 2017, Tencent surpassed Wells Fargo to enter the world's top 10 most valuable companies. Tencent has also entered an agreement with the Wuhu City Council to build the world's first eSports town in the Chinese city of Wuhu, which comprises an eSports theme park, eSports university, cultural and creative park, animation industrial park, creative block, tech entrepreneurial community and Tencent Cloud's data center. The site will be used for the education and accommodation of future eSports players, as well as hosting national eSports events and serving as a hub for Tencent's game development. Aside from Wuhu, another eSports theme park has been planned in Chengdu.
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. Alibaba overtook Tencent as Asia's most valuable company as its stocks surged after the company hosted its 2017 Investor's day. The company has also developed its own voice assistant Xiaowei, and is in the midst of discussion to acquire Rovio Entertainment, the developer of Angry Birds. At the same period, Tencent introduced its mini-programs feature that allows smartphone users to access mobile apps across the globe on WeChat without downloading them. In July 2017, Tencent bought a 9% share in Frontier Developments, the creator of the Elite: Dangerous and Planet Coaster franchises; as well as developer for Rollercoaster Tycoon 2 & 3. In August 2017, after Tencent announced the second quarter 2016 financial report, the stock price rose by 6% in the Hong Kong stock market, and the market value reached US$429 billion. Tencent became the second Asian company after Alibaba Group to surpass US$400 billion market cap. Tencent has also created an alliance to its own AI self-driving program, similar to Baidu's Apollo Project, recruiting numerous industry players in the automotive industry. It is also collaborating with L'Oréal, the world's largest cosmetics company, to explore digital marketing under the Joint Business Partnership (JBP) agreement and unleash new marketing innovations.
In November 2017, Tencent revealed that it had purchased a 12% stake in Snap Inc in the open market, with plans to help establish Snapchat as a gaming platform. Tencent remained the largest video game publisher in the world by revenue, and had a market capitalisation of around $475 billion. In the same month, Tencent announced the company's Q3 results that exceeded optimistic expectations with skyrocketing sales, net income and gaming revenue, while Wechat reached 980 million monthly active users. It will be earmarking billions of dollars to amass a catalogue of user-generated content, in competition with YouTube. The company also broke records by becoming the first Asian company to cross US$500 billion valuation, and surpassing Facebook to enter the top 5 list of the world's biggest firms.
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. It also launched its first unmanned shop in Shanghai, joining the likes of other major e-commerce companies including Alibaba, Amazon and JD.com, receiving over 30,000 visitors in the first two days of its opening. Tencent led a US$5.2 billion investment in Wanda Commercial, together with JD.com, Sunac and Suning Group, to acquire shares in the conglomerate. Wanda Commercial will be renamed as Wanda Commercial Management Group, with its new investors on the board, it represents one of the world's largest single strategic investments between internet companies and brick-and-mortar commercial giants. Tencent bought a 5% to 10% minority stake in Skydance Media.
On 23 January 2018, Tencent and Carrefour reached strategic co-operation agreement in China. Tencent said it was looking forward to working with Carrefour to further enrich the retail and service experience of its users and to strengthen Carrefour's services with Tencent's technological capabilities such as mobile payments, digital affiliate programs, customer acquisition and cloud services. Between Carrefour and RT-Mart, Ali chose RT-Mart. This is a great shock to Carrefour and Tencent. So it took only two months and the two parties reached a co-operation. Tencent's stock also rose 3.17% on the day to close at HKD474.6.
In August 15, 2018, Tencent reported a profit decline in the second quarter of 2018, ending a growth streak of more than a decade, as investment gains slid and the government's scrutiny of the gaming business weighed on the company. Shares of internet giant Tencent Holdings Ltd. fell 3% in morning trade in Hong Kong after the rare drop in quarterly profit was reported, extending a slide that has wiped nearly $50 billion in market value from the company in that week. The sell-off dragged down many other Chinese internet stocks as well.
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. As of 31 December 2010, there were 647.6 million active Tencent QQ IM user accounts, making Tencent QQ the world's largest online community at the time. The number of QQ accounts connected simultaneously has, at times, exceeded 100 million. While the IM service is free, as of 2006 a fee was being charged for mobile messaging. Tencent would later add QQ show to the platform. 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. Tencent also created QQ International, which is an English version of QQ that allows communication with mainland accounts, QQi is available for Windows and macOS. In 2005, Tencent launched Qzone, a social networking/blogging service integrated within QQ. Qzone has become one of the largest social networking service in China, with a user base of 645 million in 2014.
WeChat is a social mobile application with voice and text messaging, timeline, and several social features like 'drift a bottle'. It is the most popular social mobile application in China and some overseas Chinese communities, for instance, Malaysia. WeChat would like to have expanded more abroad but, as of 2017, was unsuccessful in penetrating major international markets outside of China.
Tencent Games (Chinese: 腾讯游戏; pinyin: Téngxùn Yóuxì) is the video game publishing division of Tencent Interactive Entertainment, itself a division of Tencent. Tencent Games was founded in 2003 to focus on online games. Tencent released its first game QQ Tang (QQ堂) in 2004, which is based on its social media platform QQ. This was soon followed by QQ variant games such as Dungeon Fighter Online, a side-scrolling online beat 'em up game; QQ Fantasy, a 2D online game that incorporates elements from Chinese mythology; Xunxian, a 3D, online RPG; QQ Sanguo, an online casual role playing game set during the Three Kingdoms period; QQ Huaxia, an online RPG; QQ Dancer, an online musical dancing game that offers QQ IM interactivity; QQ Nanaimo, an online game set on a desert island where players maintain houses and pets; QQ Speed, a casual online racing game; QQ R2Beat, an online in-line skating game; QQ Tang, an "advanced casual game" with gameplay derived from Chinese literature; QQ PET, and a QQ IM-based desktop virtual pet game. In 2015, Tencent released its multiplayer online battle arena game Honor of Kings (王者荣耀) exclusively for the Chinese market, and by 2017 was both the world's most popular and highest-grossing game of all time as well as the most downloaded app globally. Tencent also released an international version of Honor of Kings named Arena of Valor in 2017. For the occasion of the 19th National Party Congress, Tencent released a mobile game titled "Clap for Xi Jinping: An Awesome Speech”, in which players have 19 seconds to generate as many claps as possible for Xi.
In 2011, Tencent started hosting massively multiplayer online games such as Call of Duty Online, consisting of previous Call of Duty titles with added content, as well as the game League of Legends, which now it fully owns. Tencent also partly own battle royale games such as Fortnite and PlayerUnknown's Battlegrounds, and fully own Ring of Elysium.
Starting in 2016, Tencent developed a video gaming console dubbed TGP (Tencent Gaming Platform) Box. 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, and PlayerUnknown's Battlegrounds. Tencent hopes to bring third-party developed games. On 22 November 2017, Tencent formally entered into a strategic co-operation with PUBG corporation and obtain exclusive rights to operate Playerunknown's Battlegrounds in China.
In April 2017, Tencent unveiled its own flagship gaming platform, WeGame which will host games, content, and services from all over the world and will provide gaming info, purchases, downloads, live streaming and community services, creating an open ecosystem for gaming. WeGame is an upgraded version of TGP (Tencent Games Platform) that already has more than 200 million active users (compared to Steam's 125 million) and over 4.5 billion downloads, and is widely considered as a direct competitor to Steam. It will be dedicated to both global developers and players, and will assist developers who require help with translation. The gaming platform will support both Chinese and global users through a single storefront and is due to go online on 1 September 2017, Tencent has stated that the platform will focus on PC and standalone games and will no longer host web or mobile games, and will provide support to small and indie companies. Aside from mainstream games, the company has promised to also launch titles which include Stardew Valley, Rocket League, Portal Knights, Minecraft, Cities: Skylines, with 170 games promised by the end of 2017. There are expectations that WeGame will grow huge and successful globally with its new focus on Western users, combined with the massive buying power of today's Asian consumers.
In March 2018, Tencent acquired a 5% stake in Ubisoft from Vivendi, and in May 2018 it acquired a majority stake in the New Zealand company Grinding Gear Games, the developers of the game Path of Exile. As of March 2018, Tencent is the largest video game company in the world. Tencent wholly or partially owns game companies Grinding Gear Games (80%), Miniclip (undisclosed majority stake), Riot Games (100%) Epic Games (40%), Activision Blizzard (5%), Ubisoft (5%), Paradox Interactive (5%), and Supercell (84.3%).
In 2015, Tencent launched Tencent Pictures (Chinese: 腾讯影业), a film distributor and a production company that creates and distributes films based on books, comic books, animated series and video games. In the same year, Tencent launched Tencent Penguin Pictures (Chinese: 腾讯企鹅影视) a production unit focusing on online dramas and minor investments in feature films. It is under the Online Media Business Unit at Tencent and works closely with Tencent Video.
On 21 March 2012, Tencent launched Tencent Comic, and would later become China's largest online animation platform.
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.
In 2014, Tencent established exclusive in-China distribution agreements with several large music producers, including Sony, Warner Music Group and YG Entertainment and in 2017 it signed a deal with Universal Music Group to stream its music in China. It also entered a partnership with Alibaba Group on music-streaming rights sharing, the deal aims to protect licensed streaming services offering copyrighted content of the music industry, encouraging more high-quality and original music, as well as developing China’s fast-growing streaming market. Alibaba will gain the rights to stream music from international labels, which already have exclusive deals with Tencent, in return for offering reciprocal rights to its catalogue of Chinese and Japanese music.
In December 2017, Tencent's music arm, Tencent Music Entertainment (TME) and Spotify agreed to swap 10% stake and invested in each other's music businesses, forming an alliance in the music industry in which Martin Lau (president of Tencent) described it as a "strategic collaboration".
On September 2005, Tencent launched PaiPai.com (Chinese: 拍拍; pinyin: pāi pāi), a C2C auction site. In addition to PaiPai.com, Tencent launched TenPay, an online payment system similar to PayPal, which can supports B2B, B2C, and C2C payments.
In response to the dominance of the Chinese e-commerce market by Tencent competitor Alibaba Group, Tencent took great effort in its e-commerce platforms. On 10 March 2014, Tencent bought a 15 percent stake in Chinese e-commerce website JD.com Inc. by paying cash and handing over its e-commerce businesses Paipai.com, QQ Wanggou, and a stake in Yixun to JD.com, as well as purchasing a stake in e-commerce website 58 Tongcheng. In accordance to this agreement, JD.com would receive exclusive access to Tencent's WeChat and MobileQQ platforms. On May 2014, JD became the first Chinese e-commerce company to be listed on the NASDAQ exchange, under its ticker 'JD'.
On 31 December 2015, JD announced that they will stop supporting services on Paipai.com after being unable to deal with issues involving fake goods, and had integrated the Paipai.com team within its other e-commerce platforms. In a 3 month transitional period, Paipai.com would be fully shut down by 1 April 2016. JD relaunched PaiPai.com as PaiPai Second Hand (拍拍二手) to compete alongside with 58 Tongcheng's Zhuanzhuan.com (转转), both partially owned by Tencent, against Alibaba's Xianyu in the second-hand e-commerce market.
In March 2006, Tencent launched its search engine Soso.com (搜搜; to search). On 1 October 2012, it was the 33rd most visited website in the world, 11th most visited in China, as well as the 8th most visited website in South Korea, according to Alexa Internet. It was also a Chinese partner of Google, using AdWords. In September 2013, Tencent discontinued Soso.com after it invested in Sogou and replaced Soso.com with Sogou Search as its main search engine.
In 2008, Tencent released a media player, available for free download, under the name QQ Player. Tencent also launched Tencent Traveler, a web browser based on Trident. It became the third most-visted browser in China in 2008.
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.com. Haiwai was announced at Tencent's annual regional summit in Beijing on 21 December 2016.
In 2017, Tencent launched its own credit score system called Tencent Credit, with a process similar to that of Sesame Credit, operated by its competitor, the Alibaba Group, through its subsidiary Ant Financial.
Tencent officially commences operations of its first insurance agency platform, WeSure Internet Insurance Ltd. (WeSure). WeSure will work with well-known domestic insurance companies such as Ping An Insurance to provide users with high-quality insurance services. Users can make insurance purchases, inquiries and claims directly through national-level platforms on the firm's vastly popular instant messaging and lifestyle platform WeChat and its popular instant messaging platform QQ.
In late April 2017, Tencent announced it was preparing to launch its virtual reality headset that year.
Tencent's headquarters is currently the Tencent Binhai Mansion, also known as the Tencent Seafront Towers, which is located in Shenzhen's Nanshan District. In addition to its headquarters in Shenzhen, Tencent also has offices in Beijing, Shanghai, Chengdu, and Guangzhou.
Tencent has an unitary board consisting of Tencent co-founder, CEO, and chairman Ma Huateng, also known as Pony Ma, executive director and President of Tencent Martin Lau, non-executive directors Jacobus "Koos" Bekker and Charles Searle of Naspers, and independent non-executive directors Li Dongsheng, Iain Bruce, Ian Stone, and Yang Siushun.
A software development unit that has created, among others, Tencent Traveler and later versions of QQ IM, as well as some mobile software. This subsidiary is located on the Southern District of Hi-Tech Park, Shenzhen. It also holds a number of patents related to instant messaging and massively multiplayer online game gaming.
Many of Tencent's software and services are remarkably similar to those of competitors. The founder and chairman, Huateng "Pony" Ma, famously said, "[To] copy is not evil." A former CEO and president of SINA.com, Wang Zhidong, said, "Pony Ma is a notorious king of copying." Jack Ma of Alibaba Group stated, "The problem with Tencent is the lack of innovation; all of their products are copies."
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.
In 2015, security testing firms AV-Comparatives, AV-TEST and Virus Bulletin jointly decided to remove Tencent from their software whitelists. The Tencent products supplied for testing were found to contain optimisations that made the software appear less exploitable when benchmarked but actually provided greater scope for delivering exploits. Additionally, software settings were detrimental to end-users protection if used. Qihoo was later also accused of cheating, while Tencent was accused of actively gaming the anti-malware tests.
Epic Games, Inc. (formerly Potomac Computer Systems and later Epic MegaGames, Inc.) is an American video game and software development company based in Cary, North Carolina. The company was founded by Tim Sweeney as Potomac Computer Systems in 1991, originally located in his parents' house in Potomac, Maryland. Following his first commercial video game release, ZZT (1991), the company became Epic MegaGames in early 1992, and brought on Mark Rein, who is the company's vice president to date. Moving their headquarters to Cary in 1999, the studio's name was simplified to Epic Games.
Epic Games develops the Unreal Engine, a commercially available game engine which also powers their internally developed video games, such as Fortnite and the Unreal, Gears of War and Infinity Blade series. In 2014, Unreal Engine was named the "most successful videogame engine" by Guinness World Records.Epic Games owns video game developer Chair Entertainment and cloud-based software developer Cloudgine, and operates eponymous sub-studios in Seattle, England, Berlin, Yokohama and Seoul. Key personnel at Epic Games include chief executive officer Tim Sweeney, lead programmer Steve Polge and art director Chris Perna. Tencent acquired a 48.4% outstanding stake, equating to 40% of total Epic, in the company in 2012, after Epic Games realized that the video game industry was heavily developing towards the games as a service model.JOOX
JOOX is a music streaming service owned by Tencent, launched in January 2015. JOOX is the biggest music streaming app in Asian markets such as Hong Kong, Indonesia, Malaysia, Myanmar and Thailand. JOOX is a freemium service, providing most of its songs free, while some song are only available for premium users, offered via paid subscriptions or by doing different tasks offered.In 2017, JOOX launched their service in South Africa, their first non-Asian market. The service now accounts for more than 50% of all music streaming app downloads in their Asian markets. The number of music-streaming users in Hong Kong, Singapore, Malaysia, Thailand, Philippines, Myanmar and Indonesia is expected to reach 87 million by 2020.KuGou
KuGou (Chinese: 酷狗音乐) is a Chinese music streaming and download service established in 2004 and owned by Tencent Music. It is the largest music streaming service in the world, with more than 450 million monthly active users. KuGou is the largest online music service in China, with a market share of 28%. It has more than 800 million users. A merger between China Music Corporation and Tencent's QQ Music was announced on July 15, 2016. The services are expected to continue being offered separately. Together with Kuwo, another online music service also owned by Tencent Music and the third largest one in China, KuGou holds a music award ceremony, the KU Music Asian Music Awards, also known as Cool Music Asia Festival Award.League of Legends Pro League
Tencent League of Legends Pro League (LPL) (simplified Chinese: 英雄联盟职业联赛; traditional Chinese: 英雄聯盟職業聯賽; pinyin: yīng xióng lián méng zhí yè lián sài) is the top level League of Legends league in China.The first season of the LPL was the 2013 Spring season. The top three finishers of the playoff tournament receive automatic bids to the League of Legends World Championship. Playoffs are an eight team single elimination with each step a best-of-five series. The total prize pool is ¥2,350,000. In 2014 Riot Games began providing an English language broadcast. The format is modeled after the League of Legends Champions Korea format in South Korea. In September 2015 it was announced that Riot Games was in negotiations with Tencent to take over operations of the league.Lu Han
Lu Han (Chinese: 鹿晗, born April 20, 1990) is a Chinese singer and actor. He was a member, known as Luhan, of the South Korean-Chinese boy group Exo and its sub-group Exo-M, before leaving the group in October 2014. That year, he was ranked the 6th most popular entertainment star in China by China National Radio. In 2017, Lu Han was listed as the second highest-paid celebrity in the Forbes China Celebrity 100 list, behind only Fan Bingbing.Lu Han released his solo debut album, Reloaded in 2015; and has starred in several box office hits such as 20 Once Again (2015), The Witness (2015) and Time Raiders (2016). In 2017, he starred in his first television series, Fighter of the Destiny.Ma Huateng
Ma Huateng (Chinese: 马化腾; pinyin: Mǎ Huàténg, born on October 29, 1971), also known as Pony Ma, is a Chinese business magnate, investor, politician, philanthropist, engineer, internet and technology entrepreneur. He is the founder, chairman and chief executive officer of Tencent, Asia's most valuable company, one of the largest Internet and technology companies, and the biggest investment, gaming and entertainment conglomerates in the world. The company controls China's biggest mobile instant messaging service and its subsidiaries provide media, entertainment, payment systems, smartphones, internet-related services, value-added services and online advertising services, both in China and globally.
In 2007, 2014, and 2018, Time magazine called him one of the world's most influential people, while in 2015, Forbes credited him as one of the world's most powerful people. In 2017, Fortune ranked him as among the top businessmen of the year. In 2018, he was named one of the "Most Powerful People In The World" by the CEOWORLD magazine. Ma is a deputy to the Shenzhen Municipal People's Congress and in the 12th National People's Congress.Being one of "Fortune world's greatest leaders", Ma is known for his low profile entrepreneur style as compared to Jack Ma's outgoing personality, Ma has been closely compared to Warren Buffett for their similarity in investments, and often described as an "aggressive acquisitor".As of June 2019, he is China's richest man, and the 20th wealthiest in the world, with a net worth of US$36.9 billion. On 21 November 2017, he surpassed both Larry Page and Sergey Brin to become the ninth richest man in the world, and the first Chinese to enter Forbes' top 10 richest men list.Naspers
Naspers is a broad-based multinational internet and media group headquartered in South Africa, offering services in more than 130 countries. Its principal operations are in internet communication, entertainment, gaming and e-commerce. It was founded in 1915 in South Africa by Jannie Marais of Coetsenburg and W.A. Hofmeyr with the support of Jan Christiaan Smuts, Louis Botha and National Party founding president J.B.M. Hertzog.
Naspers made an early investment, US$32 million in 2001, in Chinese internet company Tencent which turned out to be extraordinarily successful; as of 2018, Naspers has an approximately 31% stake in Tencent, and is, by far, the largest shareholder of Tencent stock. Its investment in Tencent also appears to be the main driver of the value of its own stock, and has since overshadowed the operational aspects of the Naspers business. It has also made less notable investments in other technology companies. In December 2018, Naspers invested $1 billion in India's foodtech giant Swiggy.Produce Camp 2019
Produce Camp 2019 (Chinese: 创造营2019; pinyin: Chuàngzàoyíng 2019) is a Chinese reality television show spinoff of the South Korean television show Produce 101. The show premiered on Tencent Video on April 6.
The series is jointly produced by 7-D Vision and Tencent Penguin Pictures for Tencent Video, under license from Mnet's owner CJ E&M. Final members debuted as R1SE.QQ Music
QQ Music (Chinese: QQ音乐) is one of the three Chinese freemium music streaming service owned by Tencent and is under their QQ brand. As of 2018, the service is set to reach over 700 million users with an estimated 120 million subscribers.The service in 2016 merged with China Music Corporation, owners of the second and the third largest streaming services known as KuGou and Kuwo respectively. With this merger, QQ Music currently has a 15% share of the Chinese online music market.Outside of streaming, the service leverages its brand to the public through the annual QQ Music Awards.
In 2017, Swedish music streaming company Spotify bought 9% stake of the company as part of a share swap and in late 2018, Tencent is planning for the company along with several other music services that the conglomerate provides for its IPO.QQ browser
QQ Browser is a web browser with dual engines (WebKit and Trident). Previously, Tencent had developed Tencent Explorer (Tencent TE) and Tencent TT two browsers based on the Trident typesetting engine, and integration The QQ browser of the WebKit engine 5, QQ browser 6.Qzone
Qzone (Chinese: QQ空间) is a social networking website based in China which was created by Tencent in 2005. It allows users to write blogs, keep diaries, send photos, listen to music, and watch videos. Users can set their Qzone background and select accessories based on their preferences so that every Qzone is customized to the individual member's taste. However, most Qzone accessories are not free; only after buying the "Canary Yellow Diamond" can users access every service without paying extra.According to a 2009 report published by Tencent, Qzone was surpassing other social networking websites like Tencent Weibo and Tagged in China. Qzone is rapidly growing: as of November 2013, it already had 623.3 million users and by 2014 it had 645 million. 150 million Qzone users update their accounts at least once a month. This makes Qzone one of the most active communities in the whole industry.Riot Games
Riot Games, Inc. is an American video game developer and esports tournament organizer based in West Los Angeles, California. The company was founded in August 2006 by University of Southern California roommates Brandon Beck and Marc Merrill, as they sought to create a company that continuously improves on an already released game, instead of commencing development on a new one. Riot Games was majority-acquired by Tencent in February 2011 and fully acquired in December 2015. As of May 2018, Riot Games operates 24 offices around the world, in which it employs 2,500 staff members.
Riot Games is best known for League of Legends, a multiplayer online battle arena game and the company's flagship product. The game was first released in October 2009, and subsequently became the game with highest active player count by 2013. Since 2011, 2013 and 2015, respectively, Riot Games also operates the League of Legends World Championship, Championship Series and Mid-Season Invitational esports tournaments for their game.Soso (search engine)
Soso (Chinese: 搜搜; pinyin: Sōusōu) was a Chinese search engine owned by Tencent Holdings Limited, which is well known for its other creations Pengyou and QQ. As of 1 October 2012, Soso was ranked as the 33rd most visited website in the world, the 11th most visited website in China, and the number eight most visited website in South Korea, according to Alexa Internet.In September 2013, Tencent invested in Sogou, a subsidiary of Sohu. At this point, Soso discontinued services and now redirects to Sogou Search.. Sogou also has search results in English which is powered by Bing.Tencent Pictures
Tencent Pictures (Chinese: 腾讯影业; pinyin: téng xùn yǐng yè) is a Chinese film distributor and production company owned by Tencent. It has created films based on books, comic books, animated series and video games. In 2015, Tencent set up Tencent Penguin Pictures (Shanghai), a new movie production unit, focusing on online drama and minority investments in feature films.Tencent QQ
Tencent QQ (Chinese: 腾讯QQ), also known as QQ, is an instant messaging software service developed by the Chinese tech giant Tencent. QQ also offers services that provide online social games, music, shopping, microblogging, movies, and group and voice chat software. The logo of the software is a winking penguin wearing a red scarf. It is the world's 7th most visited website, according to Alexa.As of April 2014, over 200 million simultaneous online QQ users were recorded. At the end of June 2016, there were 899 million active QQ accounts.Tencent Video
Tencent Video (simplified Chinese: 腾讯视频; traditional Chinese: 騰訊視頻; pinyin: Téngxùn Shìpín) is a Chinese video streaming website owned by Tencent. As of March 2019, it has over 900 million mobile monthly active users, and 89 million subscribers. It is estimated that Tencent Video will be generating a revenue of 18.3 billion yuan by the end of 2017.
In April 2011, Tencent Video was tested on-line, using the domain name of the original Tencent podcast, Tencent QQLive, and then was officially launched with an independent domain. Tecent Video supports online VOD (Video on Demand) and television broadcasts with rich content, and provides list management, video volume amplification, color quality adjustment and other functional services.
Tencent Video's "new product" strategy focuses on developing original content and supporting original programs, home-made drama, micro-movie, and short film contest and support plan.
As of October 2017, Tencent Video has realized a revenue of RMB 65.2 billion (US$9.87 billion) with an increase of 61% from last year. According to Store Intelligence from Sensor Tower store intelligence platform, in September 2017, Tencent Video was the only non-game application of the 8 Chinese apps among the top 30 mobile applications with the largest combined revenue in the global App Store and Google Play stores. In October, with the iOS revenue alone in China, Tencent Video ranked among the top 15 apps with the largest global consolidated monthly income. Tencent Video also ranked top in revenue of iOS entertainment applications in China in October 2017.
According to the data from App Annie, Tencent Video ranked the first of iOS entertainment applications in China in October 2017 in terms of monthly active users. Tencent Video's mobile terminal has reached an average of 140 million sets of independent devices per day, ranking first with 1.12 million more devices than the second highest company.Tencent Weibo
Tencent Weibo is a Chinese microblogging (weibo) website launched by Tencent in April 2010, and is still currently under beta testing. Users may broadcast a message including 140 Chinese characters at most through the web, SMS or smartphone.TikTok
TikTok is an iOS and Android media app for creating and sharing short videos. The app was launched in 2017 by ByteDance, for markets outside of China. ByteDance has previously launched Douyin for the China market (Chinese: 抖音; pinyin: Dǒuyīn; literally: 'vibrating sound') in September 2016. TikTok and Douyin use the same software, but maintain separate networks to comply with Chinese censorship restrictions. The application allows users to create short music videos of 3 to 15 seconds and short looping videos of 3 to 60 seconds. It is a leading short video platform in Asia, United States, and other parts of the world. TikTok is not available in China and its servers are based in countries where the app is available.In 2018, the application gained popularity and became the most downloaded app in the U.S. in October 2018. As of 2018, it is available in over 150 markets, and in 75 languages. In February 2019, TikTok, together with Douyin, hit one billion downloads globally, excluding Android installs in China.WeChat
WeChat (Chinese: 微信; pinyin: Wēixìn; literally: 'micro-message') is a Chinese multi-purpose messaging, social media and mobile payment app developed by Tencent. It was first released in 2011, and by 2018 it was one of the world's largest standalone mobile apps by monthly active users, with over 1 billion monthly active users (902 million daily active users). Described as one of the world's most powerful apps by Forbes, it is also known as China's "app for everything" and a "super app" because of its wide range of functions. In addition to China, it is also the most popular messaging app in Bhutan.WeChat has been accused of censoring politically important topics in China.In the 2018 Berkshire Hathaway annual shareholders meeting, Charlie Munger identified WeChat as one of the few potential competitors to Visa, Mastercard and American Express.
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