In contrast, Tencent started a distribution platform, built its reach, and monetized its diverse applications. The company first creates a service or product and then seeks customers. Tencent’s monetization strategy has been counter-intuitive to the traditional way of business. Here are the main ones the company follows. Tencent has come up with different strategies to develop the company forward. It strives to become a good corporate citizen and build a harmonious society. Tencent began multiple public charity projects across China. The website concentrates on youth education, support for the disadvantaged groups, disaster relief, and aid for impoverished communities. It also started the public charity website called gongyi.qq.com. It is the first charity foundation opened by a Chinese internet enterprise. Tencent started the Tencent Charity Fund in 2006. It has been participating in public charity programs as well. Tencent wants to fulfill corporate social responsibilities and promote civil Internet communities to become the most respected Internet enterprise. The institute concentrates on developing core internet technologies to pursue its innovation and development for the industry. It has campuses in Shanghai, Beijing, and Shenzhen. In 2007, Tencent invested more than RMB 100 million to set up the Tencent research institute, China’s first research institute.
It includes instant messaging, e-commerce, online payment services, information security, gaming, etc. It has obtained patents related to technologies in various areas.
More than 50% of its employees are Research and Development staff. Tencent maintains its commitment to enhance its development and innovation abilities and strengthen its branding for long-term development. It brings possibilities of a broader range of applications to China’s internet market. Tencent’s development has profoundly influenced hundreds of millions of users, enabling them to communicate with one another. It caters diverse demands of its audience such as information, communication, entertainment, e-commerce, and others. These leading platforms have brought together the largest community of China to meet the needs of the users. It provides these services under the primary strategic goal of giving its users “one-stop online lifestyle services.” Tencent provides value-added internet, telecom, and mobile services and online advertising. Tencent has a mission to enhance the quality of human life through Internet services. A spike in QQ and WeChat users resulted in higher earnings.
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Most of the company’s revenue primarily comes from smartphones and PC as well as advertising. WeChat started gaining popularity with the young Chinese. The numbers reached 549 million by the end of March 2015. There was a spike in the interest of its social network service QQ, and the number of users of its smartphone chat app called WeChat surged drastically.
The founders established Tencent in 1998. He’s one of the major shareholders of Tencent, owning about 10% of the company. Many competent overseas Chinese comes from this region. Ma Huateng, the CEO and Founder of Tencent Holdings, was a young entrepreneur from Shantou, the coastal eastern part of Guangdong Province. In China, Baidu, Alibaba, and Tencent are collectively known as BAT. There is tough competition between Tencent and Alibaba Group, the country’s largest e-commerce company. Tencent Holdings, a Chinese internet services provider, is based in Shenzhen, Guangdong province.
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