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China's Tencent Breaks Through $500bn Stock Market Capitalisation (bbc.com)

Posted by msmash on from the changing-market-dynamics dept.

An anonymous reader shares a report: The value of China's biggest social network company -- Tencent Holdings -- has overtaken that of Facebook. The company owns WeChat, an enormously popular messaging app in China, and hit gaming franchises such as League of Legends and Honour of Kings.It is the first Asian firm to surpass a market value of $500bn. Its chief executive, Ma Huateng, is now worth more than the founders of Google, Larry Page and Sergey Brin, according to Forbes. The magazine valued him at $48.3bn on Tuesday, making him the world's ninth richest man according to its ranking.

5 of 77 comments (clear)

  1. At least we know what our post-Facebook world by xxxJonBoyxxx · · Score: 3, Interesting

    At least we know what our post-Facebook world will look like now. We can all plan to bore our grandkids with tales of "Silicon Valley" when American software mattered.

  2. Re:We're so screwed. by HornWumpus · · Score: 2

    Tencent's latest earnings (I can find) are 2.7 billion.

    PE ratio of 185!

    Who is screwed? Tencent's investors are screwed!

    If that's you, take your profits and RUN.

    --
    John McAfee 'It was like that time I hired that Bangkok prostitute; to do my taxes, while I fucked my accountant'
  3. Re:Tencent is an appropriate name... by Anonymous Coward · · Score: 3, Informative

    This is amusing. Because your "high quality" crap in the West is literally manufactured in China and repackaged with a nice glossy exterior in the West and resold to you for a 1000% markup.

  4. Re: It's high time we let another country take the by edris90 · · Score: 2

    Correction. The further the USA continue s unchecked the faster our acceleration in our social y promoted race to the bottom. The USA is a danger to itself and others. It needs to be be placed in protective custody, to give the rest of the world a chance to recover

  5. Cashless payments by jbmartin6 · · Score: 3, Interesting

    The huge value of WeChat is its widespread use as a payment app. One can pay with WeChat almost everywhere in large Chinese cities and even out into the remote areas. in Shanghai there are a lot of restaurants which only take WeChat or AliPay, and don't accept other payment methods at all. A lot of smaller vendors especially now only take WeChat/AliPay or cash, no cards. I think this is the real center of that valuation, not the chat/social media aspects.

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