Tencent operates WeChat and became the first Asian internet company valued above $500 billion.
Tencent crossed the $500 billion market-capitalization mark in 2017, making it the first Asian internet company to reach that level. The company’s valuation reflected the scale of its social, gaming, advertising, and digital-payment businesses.
Tencent was founded in Shenzhen in 1998 by Pony Ma and four co-founders. Its messaging service QQ helped establish the company, while WeChat, launched in 2011, became a multifunctional platform combining messaging, social features, payments, and other services. Tencent is also one of the world’s largest video-game companies.
Tencent is sometimes confused with Alibaba because both are major Chinese technology groups. Alibaba is best known for e-commerce and cloud computing, whereas Tencent’s strongest consumer platforms include WeChat and online games.