Yixun.com, an online shopping website acquired by Tencent, granted payment access from Wechat in the middle of August 2013. Data showed that in the second half of August, after Yixun.com granted access from Wechat both in PC and mobile devices, the number of total accumulated transactions from Wechat hits 30,000.
Tencent Became the First Chinese Company With Over USD 100 Billion Market Cap
Last week on September 16, Tencent’s market value went up 1.51%, having reached HKD 774.98 billion (USD 100 billion) and become the first Chinese internet company with a market value of over USD 100 billion. Since 2004, Tencent’s market value increased more than 100 times. Citibank has raised Tencent’s target price to HKD 480. Citibank […]
China’s Sogou, Soso Search Engines Joining Forces
Wang Xiaochuan, CEO of Sogou, revealed the cooperation details in an internal email that Sogou and Tencent would form a joint department to begin cooperation on search. The email said that Tencent would merge Soso and QQ Chinese input with Sogou, and invested USD 448 million to take 36.5% of stake in Sogou. Tencent expected […]
Taobao Faced Most Consumer Complaint in the First Half of 2013
According to 10oEC.cn report released last month, top 10 B2C websites which faced most consumer complaints is shown above. Taobao ranked the first with 17.31% complaint rate, and its response rate to complaints was the lowest. Coo8 had the highest response rate to complaints, with 85%. Consumers complaints on Taobao were mainly because of products […]
How Tencent Made Billions with QQ Membership
How does Tencent make billions from its membership? Today we will discover the membership secret of Tencent’s money machine. Establish QQ Membership Hierarchy System When Tencent established membership system, the key point was to charge members. How can Tencent make members continue to pay for QQ services? Tencent came up with membership hierarchy system, to […]
Alibaba and Tencent Challenging Banks?
Alibaba is said to be launch its credit payment service very soon, allowing users to use up to 5000 yuan(USD 810) credit to pay for purchasing. At the mean time, the newly launched Wechat 5.0 draws a lot of attention for its payment service. Internet companies like Alibaba, Tencent, 360buy and Jingdong Mall are all […]
Tencent’s Latest Weibo Threatening Alibaba Taobao
Taobao stated on August 12 shutting down QR code access within one month. Alibaba said this was to prevent possible advertising and even fraud from some sellers, who used QR code to avoid normal transaction procedures on Taobao. About 10 days ago, Taobao just shut down the interface between its platforms and Tecent’s Wechat (or Weixin […]
Wechat 5.0 Public Account Operation Guide
After Wechat 5.0 was launched, the Wechat public account is now separated to the subscription account and the service account. Service account can only send a message in a month, many people may ask, how to operate Wechat service account? Wechat service account was almost deprived of group sending function, which was really a big loss. […]
Tencent Unveiled Big Ambition with Wechat Payment
Last week Tencent announced that its own comprehensive online shopping site Yixun.com started fully support of Wechat payment on desktop client, Android and iOS mobile devices. Meanwhile, someone inside Yixun disclosed that Yixun would soon launch product ordering in Wechat under a single payment. By then, Wechat 5.0 users can simply click on any one […]
China Top 100 Internet Enterprise in 2013
The revenue of Top 100 Internet enterprises in China was over 200 billion yuan (USD 32.44 billion). The top three giants were Tencent, Alibaba and Baidu, their revenue together surpassed 100 billion yuan(USD 16.22 billion). Internet industry has been highly concentrated and has achieved economies of scale. The top 100 enterprises covered comprehensive industries. 90% […]
Tencent’s Hot Mobile Game Had 20 Million Downloads In 3 Days
Tian Tian Ai Xiao Chu, Tencent’s first mobile gamewith both Wechat and QQ login support, was downloaded 20 million times in 3 days. The game is independent and separate from any other platform regarding acquisition of purchasable item/content. Users logged in with their Tencent’s platform accounts (either QQ or WeChat) are able to sync non-purchasing […]
The Rise of Mobile Social Media in China
Social media has become part of Chinese netizens’ everyday life from instant messaging to Weibo and social networking.
Alibaba Has Become the Top-Earning Internet Company
With the release of Alibaba’s Q4 financial results in 2012, the rank of top 3 internet companies, including Baidu, Alibaba and Tencent, has changed finally. Because of the great performance in the last quarter of 2012, Alibaba has risen to the top, becoming the top-earning internet company.
Tencent Securing 600 Million Mobile Users with Qzone, QQ & Wechat
Hou Xiaonan, the vice general manager of Tencent’s open platform recently announced that the monthly active users of WeChat, one of Tencent’s app had reached 190 million users; and, mobile QQ had reached 500 million, Qzone 600 million.
Top 3 Video Networks in China: Youku, TENCENT and LETV
According to the data from comScore, Letv’s number of unique viewers in February is about 100 million, making it the third largets video network behind Youku and Tencent.