![]() ![]() In August 2018, Ma was China's second richest man, with a net worth of more than $36 billion. Tencent has a stake in everything from blockbuster films to gaming. Tencent also owns stakes in Meili Inc., which is seeking a $4 billion US IPO, Pinduoduo, a social commerce app, Xiaohongshu, a shopping platform, and menswear firm, Heilan. WeChat is owned by Tencent, which isn't a household name in the US, but is one of the most valuable companies in the world. In 2017 alone, Ma invested $1.4 billion in Indian e-commerce platform Flipkart, $863 million in Chinese online discount e-tailer Vipshop with JD.com and $200 million in Zhuan Zhuan, a secondhand clothes retailer. ![]() The People’s Bank of China, which issues the. It has made inroads in e-commerce and retail, too. Tencent-owned WeChat, China’s largest messaging app and one of the country’s biggest payment services, will begin supporting the digital yuan. Tencent is also one of the world’s largest investment corporations, with stakes in Epic Games, Snapchat and Spotify. The mega-app allows users to text, call, play games, hail taxis, send money, shop and pay. It has 980 million active monthly users as of. Then, in 2011, Tencent debuted its messaging app for mobiles, WeChat (called Weixin in China), which is often compared to Facebook due to its ubiquity in China. Tencents WeChat messaging app is so popular that it has more users than there are smartphones in China. It quickly became China’s largest instant-messaging platform.īy 2001, the company had accrued over $32 million in investment and in 2004 went public in a Hong Kong listing. Recently Starbucks announced a partnership with Tencent Holdings in China to co-create a new social gifting feature on WeChat, Chinas leading social media. He founded Tencent in November 1998 with a university classmate - its first product was an instant messaging software similar to AOL’s ICQ chat, named QQ. ![]() Ma - whose Chinese name is Ma Huateng - graduated from Shenzhen University with a degree in computer science, and then developed software for China Motion Telecom Development, earning $176 a month. Ma has turned his sights on the fashion and e-commerce vertical, investing in Flipkart, Vipshop and Zhuan Zhuan in 2017 alone, and acquiring stakes in e-tailer Meilishuo, which merged with competitor Mogujie in 2016 to form Meili Inc in 2016, and social commerce platform Xiaohongshu. That’s because Tencent Holdings Ltd., the company that owns WeChat, has for years worked to keep the app aligned with the values of China’s ruling Communist. Among its platforms are popular messaging apps QQ and WeChat, which counts 1 billion users. Pony Ma is the co-founder and chief executive of Tencent Holdings, a publicly traded Chinese multinational investment holding conglomerate with subsidiaries in the internet, entertainment, AI and technology. ![]()
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