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China's Most Valuable Internet Company Is Heavily Reliant On Its Social Messaging Apps
China's Most Valuable Internet Company Is Heavily Reliant On Its Social Messaging Apps
Dave SmithAug 14, 2014, 02:13 IST
It may not be well-known here in the US, but Tencent is China's most valuable public internet company with a market valuation of ~$150 billion, and it's growing at an incredible clip. The company released its latest earnings report Wednesday, posting 37% growth and 58% profit growth year-over-year - and it can thank its social applications for that.According to the company's financial data charted for us by Statista, Tencent operates three main messaging and social platforms - chat services WeChat and QQ, and its social network QZone - which all have hundreds of millions of users. QQ is the company's most popular service, but QZone, and particularly WeChat, are catching up. As Tencent looks to maintain its position as the world's fourth-largest internet company - behind only Google, Amazon, and eBay - it will continue to rely on the growth of these user-friendly services as China's largest e-commerce company Alibaba looks to take a bite out of Tencent's bottom-line.
