According to an article published today in the Wall Street Journal:
"Many people outside China may have never heard of Tencent Holdings Ltd. but the Chinese Internet giant is now worth almost as much as Facebook Inc.
"Many people outside China may have never heard of Tencent Holdings Ltd. but the Chinese Internet giant is now worth almost as much as Facebook Inc.
The market value of Hong Kong-listed Tencent, which operates the popular WeChat smartphone messaging app and various other online services in China, just topped US$100 billion this week, coming close to Facebook's market capitalization of about US$103.5 billion.
WeChat, ubiquitous among Chinese smartphone users, has 236 million active users, according to Tencent. Many analysts and investors expect Tencent to cash in on WeChat’s growing user base by offering various additional services such as gaming, e-commerce and advertising.
Among China’s major Internet companies, Tencent is in the best position to benefit from the Web’s migration to mobile devices from personal computers, said Jefferies analyst Cynthia Meng".
