Misplaced Pages

Tencent: Difference between revisions

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
Browse history interactively← Previous editNext edit →Content deleted Content addedVisualWikitext
Revision as of 05:15, 23 April 2017 editQzd (talk | contribs)Extended confirmed users, Pending changes reviewers, Rollbackers53,055 editsm Reverted edits by 76.20.198.58 (talk) to last version by InternetArchiveBot← Previous edit Revision as of 14:08, 24 April 2017 edit undoInternetArchiveBot (talk | contribs)Bots, Pending changes reviewers5,383,910 edits Rescuing 3 sources and tagging 0 as dead. #IABot (v1.3beta8)Next edit →
Line 43: Line 43:


===2011-2014: Early investments=== ===2011-2014: Early investments===
On February 18, 2011, Tencent acquired a majority equity interest (92.78%)<ref name="TE11"> Tencent Official Site, Retrieved 2014-02-22.</ref> in ], developer of ], for about USD 230 million. Tencent had already held 22.34% of the equity interest out of a previous investment in 2008. On the 16th December 2015, Riot Games sold its remaining equity to Tencent Holdings.<ref>{{cite web|url=http://www.thescoreesports.com/lol/news/5378|title=Tencent purchases remaining shares in Riot Games to hold 100% of equity|first=Kelsey |last=Moser |website=TheScore eSports|publisher=TheScore Inc.|date=December 16, 2015}}</ref><ref>{{cite web|url=http://www.polygon.com/2015/12/16/10326320/riot-games-now-owned-entirely-by-tencent|title=Riot Games now owned entirely by Tencent|first=Allegra |last=Frank |website=]|date=December 16, 2015|accessdate=December 16, 2015}}</ref> Tencent acquired a minority stake in ], developer of franchises like '']'', '']'' and '']'', in June 2012.<ref>{{cite web|title=Gears of War studio sells minority stake to Chinese Internet company|url=http://asia.gamespot.com/news/gears-of-war-studio-sells-minority-stake-to-chinese-internet-company-6383233|publisher=Gamespot}}</ref> Tencent in 2013 increased its stake in Kingsoft Network Technology, a subsidiary of Kingsoft Corporation, to 18%. Tencent previously had a 15.68% stake in the company and raised the stake through a USD 46.98 million investment.<ref>{{cite web |url=http://bw-original-reporting.tumblr.com/post/54098848628/baidu-missed-out-on-kingsoft-network-investment |title=Baidu Missed Out on Kingsoft Network Investment; Tencent invests USD 46.98 million In US 52 million Round | last=Hsu | first=Alex | date=28 June 2013}}</ref> Tencent took part in ] splitting from ] as a passive investor in 2013<ref name="joy1"> joystiq.com, Retrieved 2014-02-28.</ref><ref>http://mobile.reuters.com/article/idUSFWN19F01H</ref> and now owns about 5% of the shares as of 2016.{{cn|date=March 2017}} On September 17, 2013, it was announced that Tencent had invested $448 million for a minority share in Chinese search engine ], the subsidiary of ], Inc.<ref>{{cite web|title=Tencent invested $448 million in Chinese search engine Sogou|url=http://ceoworld.biz/2013/09/17/chinese-tencent-is-now-worth-almost-twice-as-much-as-baidu-close-to-facebook|publisher=CEOWORLD Magazine | last=Aitken | first=Todd | date=17 September 2013}}</ref> On February 18, 2011, Tencent acquired a majority equity interest (92.78%)<ref name="TE11"> {{webarchive|url=https://web.archive.org/web/20140308024641/http://tencent.com/en-us/content/ir/rp/2011/attachments/201101.pdf |date=2014-03-08 }} Tencent Official Site, Retrieved 2014-02-22.</ref> in ], developer of ], for about USD 230 million. Tencent had already held 22.34% of the equity interest out of a previous investment in 2008. On the 16th December 2015, Riot Games sold its remaining equity to Tencent Holdings.<ref>{{cite web|url=http://www.thescoreesports.com/lol/news/5378|title=Tencent purchases remaining shares in Riot Games to hold 100% of equity|first=Kelsey |last=Moser |website=TheScore eSports|publisher=TheScore Inc.|date=December 16, 2015}}</ref><ref>{{cite web|url=http://www.polygon.com/2015/12/16/10326320/riot-games-now-owned-entirely-by-tencent|title=Riot Games now owned entirely by Tencent|first=Allegra |last=Frank |website=]|date=December 16, 2015|accessdate=December 16, 2015}}</ref> Tencent acquired a minority stake in ], developer of franchises like '']'', '']'' and '']'', in June 2012.<ref>{{cite web|title=Gears of War studio sells minority stake to Chinese Internet company|url=http://asia.gamespot.com/news/gears-of-war-studio-sells-minority-stake-to-chinese-internet-company-6383233|publisher=Gamespot}}</ref> Tencent in 2013 increased its stake in Kingsoft Network Technology, a subsidiary of Kingsoft Corporation, to 18%. Tencent previously had a 15.68% stake in the company and raised the stake through a USD 46.98 million investment.<ref>{{cite web |url=http://bw-original-reporting.tumblr.com/post/54098848628/baidu-missed-out-on-kingsoft-network-investment |title=Baidu Missed Out on Kingsoft Network Investment; Tencent invests USD 46.98 million In US 52 million Round | last=Hsu | first=Alex | date=28 June 2013}}</ref> Tencent took part in ] splitting from ] as a passive investor in 2013<ref name="joy1"> joystiq.com, Retrieved 2014-02-28.</ref><ref>http://mobile.reuters.com/article/idUSFWN19F01H</ref> and now owns about 5% of the shares as of 2016.{{cn|date=March 2017}} On September 17, 2013, it was announced that Tencent had invested $448 million for a minority share in Chinese search engine ], the subsidiary of ], Inc.<ref>{{cite web|title=Tencent invested $448 million in Chinese search engine Sogou|url=http://ceoworld.biz/2013/09/17/chinese-tencent-is-now-worth-almost-twice-as-much-as-baidu-close-to-facebook|publisher=CEOWORLD Magazine | last=Aitken | first=Todd | date=17 September 2013}}</ref>


On January 15, 2014, Tencent said it will invest HKD 1.5 billion (USD 193.45 million) in logistics and warehouse firm China South City Holdings Ltd to develop its e-commerce and logistics business.<ref>{{cite web|url=http://www.reuters.com/article/2014/01/15/tencent-chinasouthcity-idUSB9N0K200Q20140115|title=Tencent Holdings to invest $193 mln in China South City Holdings|author=Reuters Editorial|date=15 January 2014|work=Reuters}}</ref> On February 27, 2014, Tencent purchased a 20-percent stake in restaurant ratings and group buying website Dianping for $400 million.<ref>{{cite web|url=http://www.iresearchchina.com/views/5493.html|title=Tencent Takes a Stake in Dianping For O2O Plan|publisher=|accessdate=14 August 2015}}</ref> On March 10, 2014, Tencent bought a 15 percent stake in Chinese e-commerce website ] Inc. by paying cash and handing over its e-commerce businesses Paipai, QQ Wanggou and a stake in Yixun to JD.com to build a stronger competitor to Alibaba Group Holding Ltd.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-03-10/tencent-agrees-to-buy-15-stake-in-jd-com-for-214-7-million.html|title=Tencent to Buy 15% Stake in JD.com to Boost E-Commerce|author=Lulu Yilun Chen|date=10 March 2014|work=Bloomberg.com|accessdate=14 August 2015}}</ref> On May 22, 2014, JD.com got listed on NASDAQ and Tencent expanded its stake in the company to 17.43% on a fully diluted basis by investing an additional USD 1,325 million.<ref> Tencent Official Site, Retrieved 2014-10-23.</ref> On March 27, 2014, it was announced that Tencent had agreed to pay about $500 million for a 28 percent stake in South Korea’s CJ Games.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-03-26/tencent-to-pay-500-million-for-stake-in-cj-games.html|title=Tencent to Pay $500 Million for Stake in CJ Games|author=Lulu Yilun Chen|date=27 March 2014|work=Bloomberg.com|accessdate=14 August 2015}}</ref> On June 27, 2014, Tencent announced that it had agreed to buy a 19.9 percent stake in Chinese e-commerce website 58.com (WUBA) Inc. for $736 million.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-06-27/tencent-buys-20-of-china-s-58-com-for-736-million.html|title=Tencent Buys 20% of China’s 58.com for $736 Million|date=27 June 2014|work=Bloomberg.com|accessdate=14 August 2015}}</ref> On April 17, 2015, Tencent announced it has bought an additional $400 million worth of shares, rising its stake in the company to about 25%.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2015-04-17/58-com-to-buy-43-of-china-rival-ganji-as-tencent-raises-stake|title=58.Com to Buy 43% of Rival Ganji as Tencent Raises Stake|author=Suresh Seshadri|date=17 April 2015|work=Bloomberg.com|accessdate=14 August 2015}}</ref> On October 16, 2014, via its wholly held subsidiary Hongze Lake Investment Ltd, Tencent announced that it had bought a 7% stake in lottery technology firm China LotSynergy Holdings Ltd for HKD 445.5 million (USD 57.4 million).<ref>{{cite web|url=http://www.ggrasia.com/tencent-unit-buys-into-lottery-provider-china-lotsynergy/|title=GGRAsia – Tencent unit buys into lottery provider China LotSynergy|publisher=|accessdate=14 August 2015}}</ref> On October 23, 2014, Tencent pitched in $145 million for a 10 percent stake in Koudai Gouwu, a Chinese mobile shopping portal.<ref>{{cite web|url=https://www.techinasia.com/chinese-mobile-shopping-app-secures-350m-led-tencent-pose-biggest-threat-alibaba/|title=Chinese mobile shopping app Koudai gets $350M led by Tencent|work=Tech in Asia|accessdate=14 August 2015}}</ref> In November 2014, the company announced a deal with ] which would give it exclusive rights for distribution in China.<ref>Osawa, Juro. , ''The Wall Street Journal'', 24 November 2014. Accessed 10 August 2015.</ref> On December 9, 2014, Chinese taxi-hailing app Didi Dache announced that it had raised more than $700 million in a funding round led by Tencent and Singaporean state investment firm Temasek Holdings.<ref>{{cite web|url=http://blogs.wsj.com/digits/2014/12/09/chinese-taxi-hailing-app-didi-raises-over-700m-led-by-temasek/|title=Chinese Taxi-Hailing App Didi Raises More Than $700 Million|author=Gillian Wong|work=WSJ|accessdate=14 August 2015}}</ref> On January 15, 2014, Tencent said it will invest HKD 1.5 billion (USD 193.45 million) in logistics and warehouse firm China South City Holdings Ltd to develop its e-commerce and logistics business.<ref>{{cite web|url=http://www.reuters.com/article/2014/01/15/tencent-chinasouthcity-idUSB9N0K200Q20140115|title=Tencent Holdings to invest $193 mln in China South City Holdings|author=Reuters Editorial|date=15 January 2014|work=Reuters}}</ref> On February 27, 2014, Tencent purchased a 20-percent stake in restaurant ratings and group buying website Dianping for $400 million.<ref>{{cite web|url=http://www.iresearchchina.com/views/5493.html|title=Tencent Takes a Stake in Dianping For O2O Plan|publisher=|accessdate=14 August 2015}}</ref> On March 10, 2014, Tencent bought a 15 percent stake in Chinese e-commerce website ] Inc. by paying cash and handing over its e-commerce businesses Paipai, QQ Wanggou and a stake in Yixun to JD.com to build a stronger competitor to Alibaba Group Holding Ltd.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-03-10/tencent-agrees-to-buy-15-stake-in-jd-com-for-214-7-million.html|title=Tencent to Buy 15% Stake in JD.com to Boost E-Commerce|author=Lulu Yilun Chen|date=10 March 2014|work=Bloomberg.com|accessdate=14 August 2015}}</ref> On May 22, 2014, JD.com got listed on NASDAQ and Tencent expanded its stake in the company to 17.43% on a fully diluted basis by investing an additional USD 1,325 million.<ref> Tencent Official Site, Retrieved 2014-10-23.</ref> On March 27, 2014, it was announced that Tencent had agreed to pay about $500 million for a 28 percent stake in South Korea’s CJ Games.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-03-26/tencent-to-pay-500-million-for-stake-in-cj-games.html|title=Tencent to Pay $500 Million for Stake in CJ Games|author=Lulu Yilun Chen|date=27 March 2014|work=Bloomberg.com|accessdate=14 August 2015}}</ref> On June 27, 2014, Tencent announced that it had agreed to buy a 19.9 percent stake in Chinese e-commerce website 58.com (WUBA) Inc. for $736 million.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-06-27/tencent-buys-20-of-china-s-58-com-for-736-million.html|title=Tencent Buys 20% of China’s 58.com for $736 Million|date=27 June 2014|work=Bloomberg.com|accessdate=14 August 2015}}</ref> On April 17, 2015, Tencent announced it has bought an additional $400 million worth of shares, rising its stake in the company to about 25%.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2015-04-17/58-com-to-buy-43-of-china-rival-ganji-as-tencent-raises-stake|title=58.Com to Buy 43% of Rival Ganji as Tencent Raises Stake|author=Suresh Seshadri|date=17 April 2015|work=Bloomberg.com|accessdate=14 August 2015}}</ref> On October 16, 2014, via its wholly held subsidiary Hongze Lake Investment Ltd, Tencent announced that it had bought a 7% stake in lottery technology firm China LotSynergy Holdings Ltd for HKD 445.5 million (USD 57.4 million).<ref>{{cite web|url=http://www.ggrasia.com/tencent-unit-buys-into-lottery-provider-china-lotsynergy/|title=GGRAsia – Tencent unit buys into lottery provider China LotSynergy|publisher=|accessdate=14 August 2015}}</ref> On October 23, 2014, Tencent pitched in $145 million for a 10 percent stake in Koudai Gouwu, a Chinese mobile shopping portal.<ref>{{cite web|url=https://www.techinasia.com/chinese-mobile-shopping-app-secures-350m-led-tencent-pose-biggest-threat-alibaba/|title=Chinese mobile shopping app Koudai gets $350M led by Tencent|work=Tech in Asia|accessdate=14 August 2015}}</ref> In November 2014, the company announced a deal with ] which would give it exclusive rights for distribution in China.<ref>Osawa, Juro. , ''The Wall Street Journal'', 24 November 2014. Accessed 10 August 2015.</ref> On December 9, 2014, Chinese taxi-hailing app Didi Dache announced that it had raised more than $700 million in a funding round led by Tencent and Singaporean state investment firm Temasek Holdings.<ref>{{cite web|url=http://blogs.wsj.com/digits/2014/12/09/chinese-taxi-hailing-app-didi-raises-over-700m-led-by-temasek/|title=Chinese Taxi-Hailing App Didi Raises More Than $700 Million|author=Gillian Wong|work=WSJ|accessdate=14 August 2015}}</ref>
Line 60: Line 60:
Tencent sells ]<ref name="Techland">{{cite web |url=http://techland.blogs.fortune.cnn.com/2008/07/14/cashing-in-on-virtual-goods/ |title=Cashing in on virtual goods - Techland |format= |work= |accessdate= }}</ref> for use in their ],<ref name="ISG"> insidesocialgames.com, March 31st, 2009</ref> its IM client, social networking sites,<ref name="3.D"> 3pointd.com, Friday, June 22nd, 2007, at 1:45 pm Eastern</ref> and for mobile phones.<ref name="Ericsson"> ericsson.com</ref> Income from the sale of virtual goods was a large proportion of Tencent's revenue in 2009.<ref name="TC"/> Tencent sells ]<ref name="Techland">{{cite web |url=http://techland.blogs.fortune.cnn.com/2008/07/14/cashing-in-on-virtual-goods/ |title=Cashing in on virtual goods - Techland |format= |work= |accessdate= }}</ref> for use in their ],<ref name="ISG"> insidesocialgames.com, March 31st, 2009</ref> its IM client, social networking sites,<ref name="3.D"> 3pointd.com, Friday, June 22nd, 2007, at 1:45 pm Eastern</ref> and for mobile phones.<ref name="Ericsson"> ericsson.com</ref> Income from the sale of virtual goods was a large proportion of Tencent's revenue in 2009.<ref name="TC"/>


Tencent's online currency, Q Coins, can be used to purchase virtual goods.<ref name="Indiatimes"/> These range from the offbeat, such as virtual pets<ref name="Businessweek2"> businessweek.com, October 23, 2008, 5:00PM EST</ref> and the virtual clothing, jewelry, and cosmetics needed to customize online-game ]s,<ref name="DB"> venturebeat.com, March 19, 2009</ref> to the more mundane, such as more storage space, wallpapers, bigger photo albums,<ref name="3.D"/> and ring tones.<ref name="Ericsson"/> Tencent's online currency, Q Coins, can be used to purchase virtual goods.<ref name="Indiatimes"/> These range from the offbeat, such as virtual pets<ref name="Businessweek2"> {{webarchive|url=https://web.archive.org/web/20120627041535/http://www.businessweek.com/magazine/content/08_44/b4106090159863.htm |date=2012-06-27 }} businessweek.com, October 23, 2008, 5:00PM EST</ref> and the virtual clothing, jewelry, and cosmetics needed to customize online-game ]s,<ref name="DB"> {{webarchive|url=https://web.archive.org/web/20090804053122/http://digital.venturebeat.com/2009/03/19/the-worlds-most-lucrative-social-network-chinas-tencent-beats-1-billion-revenue-mark/ |date=2009-08-04 }} venturebeat.com, March 19, 2009</ref> to the more mundane, such as more storage space, wallpapers, bigger photo albums,<ref name="3.D"/> and ring tones.<ref name="Ericsson"/>


==Locations== ==Locations==

Revision as of 14:08, 24 April 2017

Tencent Holdings Limited
Native name腾讯控股有限公司
Company typePublic
Traded asSEHK700
ISINKYG875721634
IndustryInternet
FoundedNovember 11, 1998; 26 years ago (1998-11-11)
FounderMa Huateng
Zhang Zhidong
Xu Chenye
Chen Yidan
Zeng Liqing
HeadquartersGrand Cayman Edit this on Wikidata, China Edit this on Wikidata
Number of locations
  • Shenzhen, China (general office)
  • Cayman Islands (registered office)
Area servedWorldwide (mainly Greater China)
Key peopleMa Huateng
(Core Founder, Chairman & CEO)
Martin Lau
(President)
ProductsSocial networks, instant messaging, mass media, web portals, e-commerce, web browser, Antivirus software and multiplayer online games
ServicesOnline services
RevenueIncrease CN¥151.938 billion (2016)
Operating incomeIncrease CN¥56.117 billion (2016)
Net incomeIncrease CN¥41.447 billion (2016)
Total assetsIncrease CN¥395.899 billion (2016)
Total equityIncrease CN¥186.247 billion (2016)
Number of employees31,557 (Oct 2016)
SubsidiariesRiot Games
Supercell (84.3%)
Websitetencent.com

Template:Contains Chinese text

Tencent Holdings Limited
Simplified Chinese腾讯控股有限公司
Traditional Chinese騰訊控股有限公司
Transcriptions

Tencent Holdings Limited (Chinese: 控股有限公司; pinyin: Téngxùn Kònggǔ Yǒuxiàn Gōngsī; lit. 'Soaring information'; SEHK700) is a Chinese investment holding company whose subsidiaries provide media, entertainment, payment systems, internet and mobile phone value-added services and operate online advertising services in China. Its headquarters are in Nanshan District, Shenzhen.

Tencent is one of the largest Internet companies, as well as the largest gaming company in the world. Its many services include social network, web portals, e-commerce, mobile games and multiplayer online games. Offerings in China include the well-known instant messenger Tencent QQ and one of the largest web portals, QQ.com. Mobile chat service WeChat has helped bolster Tencent's continued expansion into smartphone services. Tencent holds 15% stake of JD.com, one of the largest B2C online retailers in China.

In April 13, 2015, the market value of Tencent exceeded US$200 billion for the first time, hitting US$206 billion. On September 8, 2015, Tencent became the largest Internet company in Asia by value after Alibaba Group Holding Limited suffered a major drop ($141 billion over 10 months) in its share value.

In April 2017, Tencent surpassed Wells Fargo and became the 10th largest publicly traded company in the world, with its market value hitting US$279 billion.

History

1998-2010: Founding, growth

Tencent was founded by Ma Huateng, Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing in November 1998 as Tencent Inc. Incorporated in the Cayman Islands, initial funding was provided to it by venture capitalists. In Feb 1999, Tencent's iconic messenger product OICQ released. Shortly after, Tencent had its name changed to QQ; this was said to be due to a lawsuit threat from ICQ and its owner AOL. The company remained unprofitable for the first three years. South African media company Naspers purchased a 46% share of Tencent in 2001. (As of 2014, it owns 34%.) Tencent Holding Ltd was listed on the Hong Kong Stock Exchange on 16 June 2004, and it was added as a Hang Seng Index Constituent Stock in 2008. The company originally derived income solely from advertising and premium users of QQ, who pay monthly fees to receive added extras. But by 2005, charging for use of QQ mobile, its cellular value-added service, and licensing its iconic penguin character, which could be found on snack food and clothing, had also become income generators. By 2008, Tencent was seeing profit growth from the sale of virtual goods. While Tencent's services have included online gaming since 2004, around 2007-2008 it rapidly increased its offerings by licensing games. While least two, CrossFire and Dungeon Fighter Online, were originally produced by South Korean game developers, Tencent now makes its own games.

2011-2014: Early investments

On February 18, 2011, Tencent acquired a majority equity interest (92.78%) in Riot Games, developer of League of Legends, for about USD 230 million. Tencent had already held 22.34% of the equity interest out of a previous investment in 2008. On the 16th December 2015, Riot Games sold its remaining equity to Tencent Holdings. Tencent acquired a minority stake in Epic Games, developer of franchises like Unreal, Gears of War and Infinity Blade, in June 2012. Tencent in 2013 increased its stake in Kingsoft Network Technology, a subsidiary of Kingsoft Corporation, to 18%. Tencent previously had a 15.68% stake in the company and raised the stake through a USD 46.98 million investment. Tencent took part in Activision Blizzard splitting from Vivendi as a passive investor in 2013 and now owns about 5% of the shares as of 2016. On September 17, 2013, it was announced that Tencent had invested $448 million for a minority share in Chinese search engine Sogou.com, the subsidiary of Sohu, Inc.

On January 15, 2014, Tencent said it will invest HKD 1.5 billion (USD 193.45 million) in logistics and warehouse firm China South City Holdings Ltd to develop its e-commerce and logistics business. On February 27, 2014, Tencent purchased a 20-percent stake in restaurant ratings and group buying website Dianping for $400 million. On March 10, 2014, Tencent bought a 15 percent stake in Chinese e-commerce website JD.com Inc. by paying cash and handing over its e-commerce businesses Paipai, QQ Wanggou and a stake in Yixun to JD.com to build a stronger competitor to Alibaba Group Holding Ltd. On May 22, 2014, JD.com got listed on NASDAQ and Tencent expanded its stake in the company to 17.43% on a fully diluted basis by investing an additional USD 1,325 million. On March 27, 2014, it was announced that Tencent had agreed to pay about $500 million for a 28 percent stake in South Korea’s CJ Games. On June 27, 2014, Tencent announced that it had agreed to buy a 19.9 percent stake in Chinese e-commerce website 58.com (WUBA) Inc. for $736 million. On April 17, 2015, Tencent announced it has bought an additional $400 million worth of shares, rising its stake in the company to about 25%. On October 16, 2014, via its wholly held subsidiary Hongze Lake Investment Ltd, Tencent announced that it had bought a 7% stake in lottery technology firm China LotSynergy Holdings Ltd for HKD 445.5 million (USD 57.4 million). On October 23, 2014, Tencent pitched in $145 million for a 10 percent stake in Koudai Gouwu, a Chinese mobile shopping portal. In November 2014, the company announced a deal with HBO which would give it exclusive rights for distribution in China. On December 9, 2014, Chinese taxi-hailing app Didi Dache announced that it had raised more than $700 million in a funding round led by Tencent and Singaporean state investment firm Temasek Holdings.

2015-2017: Recent investments

On January 30, 2015, Tencent announced that it had signed a USD 700 million deal with the National Basketball Association to stream American basketball games in China. Later that year, Chinese automaker BYD became the chief corporate sponsor for Tencent's NBA broadcasts. On February 27, 2015, Tencent announced that it had acquired a minority stake in Robot Entertainment, the developer of the Orcs Must Die! series. On April 29, 2015, Tencent acquired a minority stake in Glu Mobile, paying USD 126 million for 14.6 percent of the company. On May 13, 2015, Tencent acquired a minority stake in mobile developer Pocket Gems, acquiring 20 percent of the company for the price of USD 60 million. On June 21, 2016 Tencent announced a deal to acquire 84.3% of Supercell with USD 8.6 billion

In July 2016, Tencent acquired a majority stake in China Music Corporation. In 2016, Tencent, together with Foxconn and luxury-car dealer Harmony New Energy Auto founded Future Mobility, a car startup that aims to sell all-electric fully autonomous premium cars in 2020. On March 28, 2017, Tesla, Inc. announced Tencent had purchased a 5% stake in Tesla for USD 1.78 billion. The Wall Street Journal at the time called Tencent China's "most valuable company."

Game development

Starting in 2016, Tencent develops video gaming console dubbed TGP (Tencent Gaming Platform) Box. The TGP BOX is called the Blade. It is an Intel- powered console running Windows 10 and a TGP Box mode. So far, the TGP console has imported many Tencent games, such as League of Legends, FIFA Online 3, NBA 2K, Monster Hunter, Need for Speed, etc. Tencent hopes to bring lots of third-party developed games.

Branching out from messaging products, Tencent's first game was QQ Tang (QQ堂) in 2004. This was soon followed QQ YinSu (QQ音速) in 2006, QQ SanGuo(QQ三国) in 2007. In 2011, Tencent started hosting the game League of Legends.

Virtual goods

Tencent sells virtual goods for use in their MMOs, its IM client, social networking sites, and for mobile phones. Income from the sale of virtual goods was a large proportion of Tencent's revenue in 2009.

Tencent's online currency, Q Coins, can be used to purchase virtual goods. These range from the offbeat, such as virtual pets and the virtual clothing, jewelry, and cosmetics needed to customize online-game avatars, to the more mundane, such as more storage space, wallpapers, bigger photo albums, and ring tones.

Locations

Tencent's headquarters are located in the Southern Hi-Tech Park District (新科技园 xīnkējìyuán) in Nanshan District, Shenzhen. Other sites include a 48,000 square meter compound that houses an R&D center in the Chengdu Hi-Tech Industrial Development Zone, a data and R&D center in Tianjin's Binhai Service Outsourcing Industry Park that is expected to be finished by June 2013, and also some 17,646 square meters of Shanghai office space purchased through a subsidiary, Tencent Cyber (Tianjin), and located in the Shanghai Modern Technology Services Community Zone.

Apple and Spotify are facing threat from Tencent, especially in South-East Asia. Also, Tencent is expanding aggressively in India.

The above list of locations is not exhaustive.

Products and services

Tencent offers a diverse mix of services and counts both consumers and businesses as customers.

iTQQ

China's first "smart interactive television service" and a joint effort with TCL.

Multiplayer online games

Tencent used to offer a number of online, multiplayer games through its game portal QQ Games.

These massively multiplayer online games include Call of Duty Online, a Massively multiplayer online game that consists of previous Call of Duty titles with added content; Dungeon Fighter Online, a side-scrolling online fighting game; QQ Fantasy, a 2D online game that incorporates elements from Chinese mythology; Xunxian, a 3D, online RPG; QQ Three Kingdoms, an online casual role playing game set during the historical three kingdoms period; QQ Huaxia, an online RPG; QQ Dancer, an online musical dancing game that offers QQ IM interactivity; QQ Nanaimo, an online game set on a desert island where players maintain houses and pets; QQ Speed, a casual online racing game; QQ R2Beat, an online in-line skating game; QQ Tang, an "advanced casual game" with gameplay derived from Chinese literature; QQ PET, a QQ IM-based desktop virtual pet game and three online first-person shooters; War of Zombie, CrossFire and AVA.

In 2017, April 21, Tencent announced the rebranding of it's Chinese 'Tencent game platform' as WeGame, which will be going global in July 2017

Music distribution

In 2014, Tencent established exclusive in-China distribution agreements with several large music producers, including Sony, Warner Music Group and YG Entertainment.

PaiPai.com

Launched on March 13, 2006, PaiPai.com (Chinese: 拍拍二手; pinyin: pāi pāi èr shǒu) was a C2C auction site. It was shut down on April 1, 2016 and the site redirects to JD.com.

QQ instant messenger

Main article: Tencent QQ

Launched in February 1999, and Tencent's most notable product, QQ is one of the most popular instant messaging platforms in its home market. As of December 31, 2010, there were 647.6 million active Tencent QQ IM user accounts, making Tencent QQ the world's largest online community at the time. The number of QQ accounts connected simultaneously has, at times, exceeded 100 million.

While the IM service is free, as of 2006 a fee was being charged for mobile messaging.

QQ International

An English version of QQ that allows communication with mainland accounts, QQi is available for Windows and Mac OSX.

QQLive

Main article: QQLive

A peer-to-peer distribution platform for streaming media.

QQ Show

An avatar-based social platform like Cyworld, QQ Show facilitates purchasing virtual goods to outfit avatars, which can also be used with QQ IM.

QQ Player

In 2008, Tencent released a media player, available for free download, under the name QQ Player.

Qzone

Main article: Qzone

A social networking service, which as of 2008 became one of the largest in China.

SOSO

Main article: Soso.com

Launched in March 2006, this search engine's name sounds like "搜搜", or "search search" in Chinese. It was a Chinese partner of Google, using AdWords.

Tencent Pictures

Main article: Tencent Pictures

Tencent Pictures (Chinese: 腾讯影业) is a Chinese film production company owned by Tencent. It has created film based on books, comic books, animated series and video games.

Tencent Traveler

Abbreviated "TT" (TencentTraveler), this web browser developed by Tencent is based on Trident and was the third most-used browser in China c. 2008.

Tencent Weibo

Main article: Tencent Weibo

A Chinese microblogging service, Tencent Weibo competes with Sina Weibo.

Tencent Weiyun

A cloud storage service that offers 10 GB of free storage (until Jan 16, 2017 it was 1 TB ). It is available in English and Chinese, currently free version in Chinese only. Requires an SMS phone number for verification of account registration.

TenPay

An online payment system similar to PayPal, it supports B2B, B2C, and C2C payments. In some Chinese cities individuals can use TenPay for utility payments and to refill their public transport cards. Co-branded credit cards are available, and credit card bills can also be paid using the service. Offline recharging of your TenPay account is possible, as the company sends employees to collect customer money in person.

WeChat

Main article: WeChat

WeChat is a social mobile application with voice and text messaging, timeline, and several social features like drift a bottle. It is the most popular social mobile application in China and some overseas Chinese communities, for instance, Malaysia. It's likely to expand abroad in the future.

Subsidiaries

Tencent has at least four wholly foreign owned enterprises and nearly twenty subsidiaries.

Tencent Technology (Shenzhen) Co Ltd

A software development unit that has created, among others, Tencent Traveler and later versions of QQ IM, as well as some mobile software. This subsidiary is located at the Southern District of Hi-Tech Park, Shenzhen. It also holds a number of patents related to instant messaging and massively multiplayer online game gaming.

Controversy

Copying claims

Many of Tencent's software and services are remarkably similar to those of competitors. The founder and chairman, Huateng "Pony Ma" Ma, famously said, " copy is not evil." A former CEO and President of SINA.com, Wang Zhidong, said, "Pony Ma is a notorious king of copying." Jack Ma of Alibaba Group stated, "the problem in Tencent is no innovation; all things are copies."

As of 2009, the company holds 400 patents.

Anti-malware software cheating allegations

In 2015, security testing firms AV-Comparatives, AV-TEST and Virus Bulletin jointly decided to remove Tencent from their software whitelists. The Tencent products supplied for testing were found to contain optimizations that made the software appear less exploitable when benchmarked but actually provided greater scope for delivering exploits. Additionally, software settings were detrimental to end-users protection if used. Qihoo was later also accused of cheating, while Tencent was accused of actively gaming the anti-malware tests.

See also

References

  1. ^ "2016 Annual Report" (PDF). Tencent.com. Retrieved 2017-03-22.
  2. "Tencent Holdings listed". Google Finance.
  3. ^ Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders, Pg. 111-112 Ilan Alon and Wenxian Zhang. Edward Elgar Publishing, 2009. Google Book Search.
  4. Tencent (June 2016). "Top Video Game Companies | By Revenue | Newzoo". Newzoo. Newzoo.
  5. Tencent, More Than QQ Instant Messaging In China thechinaobserver.com, undated but posted prior to February 12, 2009
  6. ^ For Chinese IM Portal Tencent, The Money Is In Micro-Transactions techcrunch.com, March 27, 2008
  7. "China's Tencent hits $200 billion market cap for first time".
  8. Chen, Lulu Yilun (8 September 2015). "Alibaba $141 Billion Slide Boosts Tencent to Asia's Biggest". Bloomberg Business. Retrieved 9 September 2015.
  9. "Tencent Just Became the World's 10th Biggest Company". Bloomberg.com. 5 April 2017.
  10. ^ Investing in China: The Emerging Venture Capital Industry Jonsson Yinya Li, Google Book Search
  11. ^ Tencent Tencent official site
  12. ^ 2008 Annual Report Tencent Official Site
  13. Mair, Victor (2011-04-26). "A New Morpheme in Mandarin". Language Log. Retrieved 2012-04-14.
  14. Bruce Einhorn; Brad Stone (August 4, 2011). "Tencent: March of the Penguins". Businessweek. pp. 4/7. Retrieved 8 Aug 2011.
  15. Tencent 腾讯 Naspers
  16. "Hang Seng Indexes" (PDF). Retrieved 14 August 2015.
  17. QQ Games on AIM: Another Penguin Aims for the Casual Market Archived 2009-04-14 at the Wayback Machine gotgame.com, January 13, 2009
  18. A Chinese Web Giant's Sizzling Success businessweek.com, November 26, 2008, 9:11AM EST
  19. ^ Bruce Einhorn; Brad Stone (August 4, 2011). "Tencent: March of the Penguins". Businessweek. pp. 5/7. Retrieved 8 Aug 2011.
  20. Tencent Interim Report 2011 Archived 2014-03-08 at the Wayback Machine Tencent Official Site, Retrieved 2014-02-22.
  21. Moser, Kelsey (December 16, 2015). "Tencent purchases remaining shares in Riot Games to hold 100% of equity". TheScore eSports. TheScore Inc.
  22. Frank, Allegra (December 16, 2015). "Riot Games now owned entirely by Tencent". Polygon. Retrieved December 16, 2015.
  23. "Gears of War studio sells minority stake to Chinese Internet company". Gamespot.
  24. Hsu, Alex (28 June 2013). "Baidu Missed Out on Kingsoft Network Investment; Tencent invests USD 46.98 million In US 52 million Round".
  25. Activision buys itself back from Vivendi for $8 billion joystiq.com, Retrieved 2014-02-28.
  26. http://mobile.reuters.com/article/idUSFWN19F01H
  27. Aitken, Todd (17 September 2013). "Tencent invested $448 million in Chinese search engine Sogou". CEOWORLD Magazine.
  28. Reuters Editorial (15 January 2014). "Tencent Holdings to invest $193 mln in China South City Holdings". Reuters. {{cite web}}: |author= has generic name (help)
  29. "Tencent Takes a Stake in Dianping For O2O Plan". Retrieved 14 August 2015.
  30. Lulu Yilun Chen (10 March 2014). "Tencent to Buy 15% Stake in JD.com to Boost E-Commerce". Bloomberg.com. Retrieved 14 August 2015.
  31. Tencent Interim Report 2014 Tencent Official Site, Retrieved 2014-10-23.
  32. Lulu Yilun Chen (27 March 2014). "Tencent to Pay $500 Million for Stake in CJ Games". Bloomberg.com. Retrieved 14 August 2015.
  33. "Tencent Buys 20% of China's 58.com for $736 Million". Bloomberg.com. 27 June 2014. Retrieved 14 August 2015.
  34. Suresh Seshadri (17 April 2015). "58.Com to Buy 43% of Rival Ganji as Tencent Raises Stake". Bloomberg.com. Retrieved 14 August 2015.
  35. "GGRAsia – Tencent unit buys into lottery provider China LotSynergy". Retrieved 14 August 2015.
  36. "Chinese mobile shopping app Koudai gets $350M led by Tencent". Tech in Asia. Retrieved 14 August 2015.
  37. Osawa, Juro. "Tencent to Distribute HBO Dramas, Movies Online in China", The Wall Street Journal, 24 November 2014. Accessed 10 August 2015.
  38. Gillian Wong. "Chinese Taxi-Hailing App Didi Raises More Than $700 Million". WSJ. Retrieved 14 August 2015.
  39. Eben Novy-Williams (30 January 2015). "NBA Expands China Business With Five-Year Tencent Extension". Bloomberg.com. Retrieved 14 August 2015.
  40. Pu Yang (29 December 2015). "Chinese auto brand to sponsor Tencent's NBA coverage". YT Sports. Retrieved 29 December 2015.
  41. James Brightman (27 February 2015). "Tencent makes minority investment in Robot Entertainment". Retrieved 12 February 2016.
  42. "The Kardashian effect: Tencent pays $126M for 15% of Glu Mobile - GamesBeat - Games - by Dean Takahashi". VentureBeat. Retrieved 14 August 2015.
  43. Juro Osawa (13 May 2015). "Tencent Buys Stake in U.S. Game Maker Pocket Gems". WSJ. Retrieved 14 August 2015.
  44. "Juro Osawa & Rick Carew (21 Jun 2016). "Tencent Seals Deal to Buy 'Clash of Clans' Developer Supercell for $8.6 Billion". WSJ. Retrieved 21 June 2016.
  45. Frater, Patrick (July 14, 2016). "Tencent to Become China's Top Music Company Following Deal". Variety. Retrieved July 14, 2016.
  46. https://www.wsj.com/articles/tencent-backed-company-aims-to-launch-smart-electric-cars-before-2020-1468302895
  47. Rishika Sadam (March 28, 2017). "Chinese tech giant Tencent takes 5 percent stake in Tesla". Reuters. Retrieved March 28, 2017.
  48. Higgins, Tim; Steele, Anne (March 29, 2017). "Tesla Gets Backing of Chinese Internet Giant Tencent". Wall Street Journal. New York City, New York, United States. Retrieved March 30, 2017.
  49. "Cashing in on virtual goods - Techland".
  50. TenCent Reaches New Heights in Virtual Goods Sales insidesocialgames.com, March 31st, 2009
  51. ^ Tencent Tells its Story at Virtual Goods Summit 3pointd.com, Friday, June 22nd, 2007, at 1:45 pm Eastern
  52. ^ Ericsson Mobility World partner profile: Tencent ericsson.com
  53. ^ "Technology". Retrieved 14 August 2015.
  54. Lucrative Alternatives to Online Advertising Archived 2012-06-27 at the Wayback Machine businessweek.com, October 23, 2008, 5:00PM EST
  55. The world's most lucrative social network? China's Tencent beats $1 billion revenue mark Archived 2009-08-04 at the Wayback Machine venturebeat.com, March 19, 2009
  56. ^ Investor Fact Sheet Tencent Official Site
  57. "Contact Us." Tencent. Retrieved on September 28, 2011. "Tencent Building, Kejizhongyi Avenue, Hi-techPark,Nanshan District,Shenzhen." Address in Chinese: "深圳市南山区高新科技园中区一路腾讯大厦"
  58. Tencent Opens Chengdu R&D Center JLM Pacific Epoch, Apr 09, 2009
  59. Tencent's Tianjin R&D Center Ready in 2013 JLM Pacific Epoch, Mar 13, 2009
  60. DI SCLOSEABLE TRANSACTI ON PURCHASE OF PROPERTY 15 May 2008
  61. https://www.wsj.com/articles/apple-spotify-face-upstart-rival-in-streaming-music-chinas-tencent-1481875174
  62. Products and Services > Interactive Entertainment Service Tencent official Site
  63. Tencent WeGame official site
  64. Tencent push WeGame, "platform + boutique content IP"
  65. Tencent UP2017: new WeGame platform on the assembly line, launching in July
  66. Carsten, Paul (December 16, 2014). "Tencent, Sony strike China music distribution deal". Reuters.
  67. ^ Products and Services, E-commerce Tencent Official Site
  68. About Tencent Tencent Official Site
  69. "腾讯QQ最新24小时在线数据". Im.qq.com. Retrieved 2011-01-14.
  70. The party, the people and the power of cyber-talk economist.com, Apr 27th 2006
  71. "QQ International". Tencent. Retrieved November 23, 2012.
  72. Added">[http://www.tencent.com/en-us/ps/internetservice.shtml Products and Services > Internet Value-added Service Tencent Official Site
  73. Products and Services > Internet Value-added Service Tencent Official Site
  74. "Tencent Releases "QQ Player"". Retrieved 14 August 2015.
  75. Products and Services > Online Media Tencent Official Site
  76. Tencent to Build 3000-person Search Army to Power Search Engine cnreviews.com, 14 APR 2008
  77. What Valley Companies Should Know about Tencent techcrunch.com, Jun 20, 2010
  78. Cite error: The named reference Ma was invoked but never defined (see the help page).
  79. Ali Jaafar (September 17, 2015). "China's Tencent Partners With Legendary And Wanda On 'Warcraft'". deadline.com. Retrieved October 11, 2015.
  80. Products & Services > Instant Messaging Service Tencent Official Site
  81. ^ Mozilla Takes on Microsoft in China businessweek.com, January 11, 2008, 7:21AM EST
  82. Tencent Weiyun Official website.
  83. Tenpay Expands Into Online Utility Payment JLM Pacific Epoch, Jul 20, 2009
  84. Tenpay Releases Credit Card Payment Service JLM Pacific Epoch, Apr 15, 2009
  85. Knock, Knock: TenPay To Offer Door-To-Door Recharging Service J:M Pacific Epoch, Nov 14, 2008
  86. "WeChat website".
  87. "Social features of WeChat". Value2020. Retrieved 2013-01-23.
  88. "Here's a Heatmap of WeChat Users Around the World". TechinAsia, Steven Millward & VALUE2020. Retrieved 2013-01-18.
  89. ^ Company Snapshot: Tencent Technology (Shenzhen) Co., Ltd. businessweek.com
  90. China Developers Bring Mobile Widgets to Market nokia.com, 2008
  91. IPEXL Search > Patent Directory > "TENCENT TECHNOLOGY SHENZHEN COMPANY LIMITED" ipexl.com
  92. Tencent's innovation is copied... Machine translation Xinhuanet.com, April 13, 2007
  93. Tencent Holds 400 Patents JLM Pacific Epoch, Jul 29, 2009
  94. Thomson, Iain. "Tencent stripped of antivirus rankings for cheating on tests". The Register. Retrieved 5 June 2015.
  95. Ilascu, Ionut. "Security Vendor Tencent Optimizes Antivirus for Better Independent Test Results". Softpedia. Retrieved 5 June 2015.
  96. Hachman, Mark. "Tencent, Qihoo antimalware firms are accused of cheating, stripped of rankings in antivirus tests". PCWorld. Retrieved 5 June 2015.

External links

Payment service providers
Active
Defunct
Tencent
Services
Music
Film and television
Video games
Related
People
League of Legends
Riot Games, Tencent, Esports
World Championship
Mid-Season Invitational
First Stand
Regional leagues
Current
Former
Other tournaments
Music
Characters
Other games
Riot Games
Riot Forge
Tabletop games
Other
The 2020 Mid-Season Invitational was cancelled and replaced by the 2020 Mid-Season Streamathon due to the COVID-19 pandemic.
Related articles
Major Chinese Web portals
Hong Kong Constituents of Hang Seng Index
Finance
Utilities
Properties
Commerce
and
Industry
China Constituents of Hang Seng China 50 Index
Web browsers
  • Features
  • standards
  • protocols
Features
Web standards
Protocols
Active
Blink-based
Proprietary
FOSS
Gecko-based
WebKit-based
Multi-engine
Other
Discontinued
Blink-based
Gecko-based
MSHTML-based
WebKit-based
Other
Content aggregators
Client
software
Standalone
Web browsers
Email clients
Plugins
Web apps or
mobile apps
Media
aggregators
Podcast client
RSS + BitTorrent
Related
articles
Italics indicate discontinued software.
Video hosting services in China
File hosting services
Active
Inactive
Category Comparison of file hosting services
Categories: