China is home to Tencent, the technology company behind WeChat and one of the world’s largest businesses by market capitalization.
Tencent was founded in Shenzhen, China, in 1998 by five entrepreneurs, including Ma Huateng, also known as Pony Ma. Its first major product was QQ, an instant-messaging service that became widely used in China.
The company launched WeChat in 2011. WeChat developed beyond messaging into a broad platform offering payments, social feeds, mini programs, and other services. Tencent also became a major force in online games, with investments and publishing relationships across the international games industry.
Tencent is sometimes confused with Alibaba because both are Chinese technology giants. Their businesses differ: Tencent is especially associated with social platforms, digital content, and gaming, while Alibaba is primarily associated with e-commerce and cloud services. Tencent’s headquarters remain in Shenzhen, Guangdong.