China’s Tencent Sees Market Cap Hit $66 Billion, Passes Facebook
China’s social media giant has surpassed America’s leader in terms of the total value of their shares. Yes, Tencent’s market cap is greater than Facebook’s right now, with Tencent’s market capitalization currently at HK$419.84 billion – that’s US$66.6 billion – compared to Facebook’s $62.24 billion.
Tencent listed on the Hong Kong Stock Exchange in June 2004 priced at HK$3.70 per share. It’s trading right now at HK$228. It’s a significant moment for Tencent, which runs a number of social services in the country that are the biggest in their field: the biggest in social gaming; the biggest in group messaging apps with WeChat; the biggest in instant messaging with QQ, the biggest in online profiles with QZone; and the biggest in microblogging with Tencent Weibo.
If you look at the country’s top social services – in this excerpt from an infographic on China’s rising social media (above) – you’ll see that three of them are Tencent’s.
But Tencent is not invincible. It has struggled in a number of crucial areas as well. One of the biggest failures has been in e-commerce where its own efforts – with Paipai for C2C selling, and QQ Buy for B2C and online storefronts – have come to little, and been out-gunned by Alibaba’s Taobao and Tmall sites. In mobile, too, it hasn’t co-ordinated quite the same coherent mobile strategy of some of its rivals, like Baidu and Alibaba, which have gone so far as to create their own mobile platforms and smartphones.
Tencent is a force to be reckoned with both at home and abroad, and its rise in value and continued diversification should serve as a lesson to Facebook.
THE MASTERS OF THE UNIVERSE WHO RUN AND SPEAK AT THESE SEMINARS ARE ALWAYS MAKING JOKES ABOUT IT BC THEY CAN SMELL A GOLDDIGGING RAT 20 MILES AWAY!!! SPEAKING OF LAB RATS, GOLDDIGGING AND NOT, I HAVE A LINNER ER LUPPER RECIPE FOR ALL OF YOU RATS SEW THAT YOU WON’T GET BREAST CANCER!! CHECK IT OUT ON MEI BLOG!! 🙁
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TENCENT IS GOING TO MAKE FAKEBOOK SHARES GO DOWN TO TENCENT IN CHINA!! THE CHINESE COPY, STEAL INFORMATION WEN USEFUL AND START THEIR OWN VERSION OF YUE ER YOUR BUSINESS!! IT IS IN THEIR DNA FOR GOD’S SAKE!! JUST LIKE THE IRISH ARE RAISED TO APPRECIATE ALCOHOL AND BECOME BARTENDERS, THE CHINESE ARE TAUGHT TO USE PEOPLE FOR INFORMATION AND THEN LIE IN ORDER TO OFFER IT AS THEIR OWN FOR A VERY HEFTY PRICE!! THEY ARE LIKE THE GUY WHO ALWAYS INVITES HIMSELF TO YOUR PARTIES BUT NEVER HAS ANYTHING OR ANYPLACE WHERE THEY CAN INVITE YUE SEW WISE UP BEFORE IT IS TOO LATE (IT IS TOO LATE FOR TOO MANEE) AND GET A CLUE!! WHERE ARE THE GRANTS, FELLOWSHIPS AND FOUNDATION MONEY COMING FROM CHINA, KOREA AND VIETNAM FOR AMERICAN STUDENTS??? ALSO, HOW MANY ASIAN GIRLS DUE YUE SEE CHASING AFTER MEN WHO ARE NOT WORTH ALL OF THE GOLD IN CHINA=THE MORE MONEY YUE HAVE THE MUCH MORE ATTRACTIVE YUE ARE TO ASIAN WOMEN!! THEY LOVE A FAT WALLET MORE THAN ANYTHING IN THE WORLD=IF YUE HAVE ONE YUE CAN BE HIDEOUS AND THEY WILL LOVE IT!! IF YOU ARE WHITE WITH A HUGE WALLET YUE WILL HAVE A HARDER TIME GETTING RID OF THEM THAN BED BUGS!! GO TO ANY SEMINAR, CONFERENCE OR LECTURE GIVEN BY A MAN FEATURED IN FORTUNE MAGAZINE AND THAT IS ALL YOU WILL SEE WEARING SEXXY CLOTHES OF RED AND/OR GREEN + MATCHING SKY HIGH HEELS FULLY LOADED WITH BUSINESS CARDS TO DISTRIBUTE!! 🙁
Tencent is a force to be reckoned with both at home and abroad, and its rise in value and continued diversification should serve as a lesson to Facebook.
China’s social media giant has surpassed America’s leader in terms of the total value of their shares. Yes, Tencent’s market cap is greater than Facebook’s right now, with Tencent’s market capitalization currently at HK$419.84 billion – that’s US$66.6 billion – compared to Facebook’s $62.24 billion. Tencent listed on the Hong Kong Stock Exchange in June 2004 priced at HK$3.70 per share. It’s trading right now at HK$228. It’s a significant moment for Tencent, which runs a number of social services in the country that are the biggest in their field: the biggest in social gaming; the biggest in group messaging apps with WeChat; the biggest in instant messaging with QQ, the biggest in online profiles with QZone; and the biggest in microblogging with Tencent Weibo.
Golden turtle is a term I once heard