Tencent and its hyper-popular messaging app WeChat have become Trump's latest target. Here's how the company became a $69 billion behemoth that has a stake in everything from 'Fortnite' to Hollywood blockbusters.
Avery Hartmans,Ben GilbertAug 7, 2020, 22:55 IST
Tencent was founded in 1998 by Ma Huateng — better known as Pony Ma — along with three of his classmates from college and a friend.
Tencent has a hand in everything from entertainment to financial services to comics. But perhaps its most powerful tool is WeChat.
In recent years, Tencent has become the world's largest video game company through its tactic of investing in or outright buying up major game makers.
Tencent has its own production company, Tencent Pictures, which has invested in multiple US films.
It's a major investor, with holdings in Tesla, Reddit, Discord, and Snap. Tencent has invested in more "unicorn" startups than Japanese investment giant SoftBank, according to Quartz.
Tencent also has a stake in streaming, music, and comics.
Tencent is currently valued around $69 billion, making it the eighth-largest company in the world in terms of market value, according to Bloomberg.