You will understand the Internet War in China.
Wechat is moving to E-CommerceAs explained this Company, Wechat is investiing in the E-Commerce and try to kill taobao (alibaba Group)
In light of Tencent's $ 500 billion assessment this week, analysts are once again looking at the Chinese Great Firewall for an answer. The Great Wall of China has pushed the American giants away from technology and fueled the flame for Chinese megacorporations, like Tencent and Alibaba. This environment is ideal for attracting a national audience, with virtually no other options, and significant investments. Tencent has created a Tencent lifestyle. Under the wing of Tencent are several of China's busiest online services, such as WeChat, QQ, QZone and their games Tencent, China's largest online gaming community, Tencent Literature, and Tencent Comics.
Source : https://www.taiwannews.com.tw/en/news/3305168
There is also WeChat Wallet, which has become a monster in the mobile payments market in China. An important factor in Tencent's dominance is that future competitors Facebook, Twitter, Youtube and Google, especially all Americans, are stuck in China. While Tencent's $ 500 billion valuation this week has nearly surpassed Taiwan's annual GDP, as the China Times reports, this is not a sign of a failing Taiwanese economy.
$500B evaluationsource Techcrunch
Tencent has become the first Chinese company to be valued at more than $ 500 billion. Shares of the 19-year-old Hong Kong-listed company rebounded to HK $ 418.80 to reach a market capitalization of HK $ 3.99 trillion, exceeding $ 500 billion. Alibaba, its closest rival, is the second most esteemed Asian company with $ 474 billion. The half-trillion dollar club entry - which includes Apple, Alphabet, Facebook, Microsoft and Amazon - comes a week after Tencent reported a profit of 18 billion RMB ($ 2.7 billion) on revenue of RMB 65.2 billion for the third quarter of 2017. Overall profit increased 69% year-on-year and revenue grew 61% thanks to Tencent's gaming business As SCMP pointed out, a US $ 9,000 investment in the company's IPO in 2004 would now cost US $ 1 million. In the last twelve months alone, Tencent's share price has doubled thanks to impressive results such as the third quarter.