If you have a few minutes spare today, we recommend reading Bloomberg’s in-depth profile of Chinese tech company Tencent.
It outlines how the company got as big as it is in 2017, as well as its ambitions to expand beyond China and Asia in the future. There are some good stats too, for example on its flagship messaging app.
“WeChat now has 937.8 million active users, more than a third of whom spend in excess of four hours a day on the service,” explains the piece. “To put that in context, consider that the average person around the world spends a little more than an hour a day on Facebook, Instagram, Snapchat, and Twitter combined.”
There’s also news that Tencent thought about buying WhatsApp in early 2014, before Facebook sealed the deal. The piece also highlights Tencent’s plans to open artificial intelligence labs in China and the US; its confirmation that it’s working on a smart speaker; and a 5% stake in automotive firm Tesla.
Tencent’s music activities don’t get a look-in during the piece, but in his recent Midem keynote, Tencent Music Entertainment exec Andy Ng (pictured above) said the company has 600 million monthly-active music users, with 15 million of them paying for subscriptions.