Tencent became the first Chinese internet company to surpass a $500 billion market capitalization.
Tencent passed the $500 billion threshold in November 2017 as its share price rose on expectations for continued growth in online games, digital payments, advertising, and social networking. It was also the first Chinese technology company to join the group of firms valued above that level.
Tencent was founded in Shenzhen in 1998 by Ma Huateng and partners. Its products include WeChat, QQ, Tencent Games, Tencent Video, and cloud services. WeChat combines messaging, payments, commerce, and other functions in one mobile platform.
Market capitalization is not the same as annual sales or profit. Tencent’s valuation represented the market’s combined estimate of the value of all its outstanding shares, and it could change substantially as Hong Kong-listed shares moved.