Tencent operates WeChat and was once Asia’s first company to exceed a $500 billion market capitalization.
Tencent is a Chinese technology conglomerate whose businesses include social networking, online games, digital payments, cloud services, music, and entertainment. WeChat, known as Weixin in mainland China, combines messaging with payments, commerce, media, and other services in a highly integrated platform.
Tencent became Asia’s first company to surpass a $500 billion market capitalization in 2017. Its ranking has changed over time as technology shares moved and Chinese regulatory conditions affected investor sentiment. Tencent is not the same company as Alibaba: Alibaba is primarily associated with e-commerce and cloud computing, while Tencent is especially known for communications, gaming, and digital services.