Tencent Overtakes Alibaba and Becomes China's Most Valuable Tech Company

Tencent Overtakes Alibaba and Becomes China's Most Valuable Tech Company
Aug 19, 2016 By eChinacities.com

Sorry!  The picture does not exist!

According to CNBC, Tencent has topped Alibaba as the internet company with the most market capitalization in China.

Tencent owns the popular instant messaging app WeChat, along with a slew of other internet brands and websites. This Wednesday Tencent announced a strong fiscal quarter, with market capitalization jumping to 249 billion USD, overshadowing Alibaba’s market capitalization of 246 billion USD.

Tencent is bolstered by a series of very popular internet assets, including the QQ.com portal and QQ Messenger.

Source: inews.qq.com

Warning:The use of any news and articles published on eChinacities.com without written permission from eChinacities.com constitutes copyright infringement, and legal action can be taken.

Keywords: Tencent overtakes Alibaba in market value

6 Comments

All comments are subject to moderation by eChinacities.com staff. Because we wish to encourage healthy and productive dialogue we ask that all comments remain polite, free of profanity or name calling, and relevant to the original post and subsequent discussion. Comments will not be deleted because of the viewpoints they express, only if the mode of expression itself is inappropriate.

1

SenseiSteve
comment|72992|305724

China is awash with copycat companies, Tencent and Alibaba aren't doing anything new.

Aug 26, 2016 11:44 Report Abuse

2

donluis
comment|72948|59010

Great Tencent (who copied facebook, twitter) has passed Alibaba (who copied Ebay). Must be hard to keep coming up with new ideas which make your companies so successful. Oh wait...

Aug 23, 2016 15:26 Report Abuse

3

Waldick
comment|72963|1642385

hahahahhaa bro that one was tough, but tencent is a great company... but is true, i guess they are doing it copying and copying, but did you know that google did copy a Baidu tool back on 90s??? I guess they copy each other

Aug 24, 2016 07:48 Report Abuse

4

donluis
comment|72999|59010

I would love to know what google copied from baidu. That is something Ive never heard. Especially since Google opened and started doing business 2 years before baidu. How can a company doing something two years earlier than another company doing the same thing, possibly have copied the latter. Sounds impossible to me.

Aug 26, 2016 14:33 Report Abuse

5

Guest388182
comment|72932|43131

though tencent was a (k)rapper

Aug 20, 2016 19:56 Report Abuse

6

LastTargarean
comment|72929|1615815

Dooooooooon't Caaaaaaaaarre

Aug 20, 2016 17:03 Report Abuse