Tencent became the first Asian internet company to surpass a $500 billion market value in 2017.
Tencent is a Chinese technology conglomerate founded in 1998. Its products include WeChat, the QQ messaging service, online games, digital payments, music, and cloud services. WeChat in particular became a major platform combining messaging, social features, payments, and other services.
The $500 billion milestone illustrated the growing global importance of Chinese technology companies. Tencent’s market value was supported by its enormous user base, strong gaming business, advertising operations, and ownership investments in other companies.
Tencent is sometimes mistaken for a company focused only on video games. Gaming is a major business, but Tencent’s activities extend across social networking, financial technology, online media, and cloud computing. Its listed shares trade in Hong Kong, while its market capitalization is often converted into U.S. dollars for international comparisons.