2017 will be a milestone in the history of Chinese companies. In April, Tencent ranked among the Top 10 companies in the world by market value. In June, Alibaba joined it in the Top 10, and within a few days surged to seventh place. On November 21, Tencent’s market value grew to $520 billion, passing…
Tencent announced it reached a strategic cooperation with PUBG, formally obtaining the exclusive agency of Playerunknown’s Battlegrounds in China.
The share price of Tencent Holdings (00700.HK) rose by more than 3 percent in early trading on November 21. At 9:53 am, Tencent’s market value reached HK $4.128232 trillion, or about US $528.471 billion, surpassing Facebook, whose market value is US $518.346 billion, to become the world’s fifth-largest technology company by market value.
A smart WeChat gas station built by WeChat and Sinopec Kantons Holdings opened at Kantons Holdings Fangxingda Gas Station in Shenzhen. Its license plate recognition, together with Mini Programs and WeChat payment, allows Kantons Gas Station to provide am intelligent refueling experience for drivers.
“The Internet is a natural monopoly industry, and if it is still dominated by Baidu, Alibaba and Tencent in a decade, it will be most unfortunate for China,” Richard Liu said at the release of Qihoo 360 CEO Zhou Hongyi’s new book in Beijing on November 19.
Tencent hosted the 2017 Tencent Media Summit in Shanghai on November 16. With “media’s new planet” as its theme, Tencent and a dozen of the world’s leading and innovative media met to discuss the global media revolution.
Seven of the Top 10 are Internet technology companies – namely, Apple, Google, Microsoft, Amazon, Facebook, Tencent and Alibaba – have a combined market value of $4.25 trillion, close to Japan’s GDP in 2016.
Although Baidu, Alibaba, Tencent and NetEase products dominate the iOS market in China, a number of companies such as Toutiao and Meituan Dianping have crept into the Top 10 ranking, according to records of iOS App downloads by App Annie in the month of October. SEE ALSO: What did Toutiao’s Buy with its $1B Purchase…
“I regret not having entered into China’s market earlier. Now, I can hear vibrating sounds everywhere making me uncomfortable,” said Louis Yang, founder of Musical.ly, a social network with short-form videos, on October 10 at the GGV Evolving Lifestyle Conference.
After nationwide success in China, Arena of Valor is battling its way into overseas markets. The game, which has 200 million Chinese players, is entering the North America market. Supporting both iOS and Android, Arena of Valor is open for pre-registration and will be available in November.