If Alibaba and Tencent are cutting payrolls by 10-15 %, we can be pretty sure that many other internet platforms in and related to the tech sector are in a similar position of having to cut costs. It is one of the most active and successful investment corporations in the world, with stakes in over 600 companies, and recent focus on start-ups within Asia’s burgeoning tech scene.
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As of 2018, Tencent has the 5th highest global brand value.Tencent controls hundreds of subsidiaries and associates in numerous industries and areas, creating a broad portfolio of ownerships and investment across a diverse range of businesses including e-commerce, retail, video gaming, real estate, software, virtual reality, ride-sharing, banking, financial services, fintech, consumer technology, computer technology, automobile, film production, movie ticketing, music production, space technology, natural resources, smartphones, big data, agriculture, medical services, cloud computing, social media, IT, advertising, streaming media, artificial intelligence, robotics, UAVs, food delivery, courier services, e-book, internet services, education and renewable energy. Tencent has been credited as one of the world's most innovative companies by numerous media and firms, including Boston Consulting Group. It has since then emerged as one of Asia's most valuable companies, and among the world's top technology companies by market value. The company surpassed the market value of US$500 billion in 2018, becoming the first Asian technology company to cross the valuation mark. It also owns the majority of China's music services (Tencent Music Entertainment), with more than 700 million active users and 120 million paying subscribers.
Offerings in China include the instant messenger Tencent QQ and one of the largest web portals, QQ.com. Its many services include social network, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones, and multiplayer online games, which are all among the world's biggest and most successful in their respective categories. Tencent is the world's largest gaming company, one of the world's most valuable technology conglomerates, one of the world's largest social media companies, and one of the world's largest venture capital firms and investment corporations.
Its twin-skyscrapers headquarters Tencent Seafront Towers (also known as Tencent Binhai Mansion) are based in Nanshan District, Shenzhen. Tencent Holdings Limited (Chinese: 腾讯控股有限公司 pinyin: Téngxùn Kònggǔ Yǒuxiàn Gōngsī) is a Chinese multinational investment holding conglomerate founded in 1998, whose subsidiaries specialise in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally. Wikipedia (3.50 / 2 votes) Rate this definition: