Tencent operates WeChat and became Asia’s first company valued above US$500 billion in 2017.
Tencent crossed the US$500 billion market-capitalization mark in November 2017 as investors responded to growth in games, advertising, payments, and social media. The company is based in Shenzhen and is one of China’s most influential technology groups.
Its WeChat platform, known as Weixin in mainland China, combines messaging, social networking, payments, mini-programs, and other services. Tencent also operates major online-game businesses and holds stakes in numerous technology and entertainment companies, making its value broader than the WeChat app alone.
Tencent was founded in 1998 by Pony Ma and other co-founders. Its stock is listed in Hong Kong under ticker 700. The 2017 milestone referred to market capitalization, not annual revenue or the value of one individual product. Market values can also move below a threshold when share prices decline.