Tech giant Tencent making waves

Published Sun, May 31, 2020 · 09:50 PM

TENCENT is an internet and technology giant that stands tall with the likes of Alibaba and Baidu in China, with total assets worth 953 billion Chinese yuan (S$189 billion). Founded in 1998, Tencent's first flagship product was a Web-based communication application called QQ messenger, similar to ICQ's cross-platform messenger which utilises Voice Over Internet Platform (VoIP). Popularity grew as users surged past 800 million in 2019.

Tencent then established itself as a gaming giant in 2011, following the acquisition of two major game developers - Riot Games and Epic Games. The move sparked the company's first phase of massive growth and expansion. For the first quarter of 2020, Ten…