China's Tencent Surpasses Facebook in Value

Discussion in 'Business News & Resources' started by Jenilee, Nov 22, 2017.

  1. Jenilee


    Aug 24, 2010
    Tencent, owners of WeChat and China’s internet giant overtook Facebook in value. It is the first firm in China to be worth more than £378bn ($500bn).

    Tencent owns Supercell, the maker of Clash of Clans, Honour of Kings. It also owns a large share in Shapchat. But the most popular app is WeChat which dominates in China where Facebook , Twitter and Google are banned.
    According to a report on Telegraph, the company's share price rose 2.4% on Tuesday in Hong Kong making it the world's fifth-most valuable listed company, altering the dominance of the US tech giants including Facebook.

    Tencent’s is now considered as Asia's most valuable company after shares have more than doubled this year.

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