Tencent is the Chinese technology company founded in 1998 that owns WeChat and became one of Asia’s highest-market-cap companies.
Tencent was founded in Shenzhen in 1998 by Pony Ma and several co-founders. Its first major product was QQ, an instant-messaging service that helped the company build a large online user base in China.
Tencent launched WeChat in 2011. The mobile platform grew beyond messaging to include social networking, payments, mini-programs, games, and business services. Tencent is also a major video-game company, with publishing and investment interests spanning China and international markets.
WeChat and QQ are not the same service: QQ predates WeChat and remains a separate Tencent platform. Tencent also owns the WeChat Pay payment system, but that does not make it a bank. Its diversified internet, gaming, advertising, and financial-technology businesses help explain its exceptional market value.