Tencent has a dominant share in China’s gaming market—which surged during COVID-19 lockdowns in China—and owns super-app WeChat, which has 1.2 billion users. Together, Tencent’s operations constitute the largest online community in China. Growth in gaming helped boost Tencent’s sales 29% in the third quarter. But its stock fell from recent highs in early November after Beijing proposed new rules to prevent antitrust behavior by China’s tech giants.
- TechFrom billion-dollar valuation to bust: Chinese tech unicorn now may be worth just over $1,000October 22, 2020 9:13 PM UTC
- LeadershipMark Zuckerberg Has WeChat Envy—and That’s TerrifyingMarch 9, 2019 2:27 PM UTC