The Business Model of Tencent
Tencent Holdings Ltd., abbreviated as Tencent, is a holding company for a Chinese multinational technology firm. Its companies, founded in 1998, promote a variety of Internet-related services and products abroad, including entertainment, artificial intelligence, and other technology. Tencent is the world's largest video game provider and one of the wealthiest firms. It is one of the largest companies in the social networking, venture capital, and investing sectors. It offers social networking, music, web portals, e-commerce, mobile games, internet services, payment systems, and cellphones. In China, offerings include Tencent's QQ and WeChat instant messengers, as well as one of the major online sites, QQ.com. Additionally, it owns the majority of China's music services (Tencent Music), which have a combined user base of over 700 million active users and 120 million paid customers.