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Tencent saw its stock price drop sharply in the wake of Alibaba’s spectacular $25 billion IPO, shaving off a considerable amount of co-founder’s Pony Ma’s $13 billion estimated net worth. Even with the dip, Tencent’s stock is still up by 55% over the past 12 months. After all, with QQ Messenger, Qzone and WeChat, the Chinese holding company, whose activities also include online games and e-commerce, still owns three of the world’s five biggest social networks, serving almost 2 billion active users combined.

Furthermore, by pushing into online banking and online-to-offline retail, Pony Ma is gearing up to hit Alibaba where it hurts. And in an effort to lock in its position as one of the world’s largest Internet companies (it’s currently No. 5), Tencent is teaming up with IBM to offer cloud-computing services for corporate customers. —J.A.