Tencent Is the First Chinese Tech Company Worth More Than $500 Billion

by Developer.com Staff

The mobile development firm is known for its games and social networking apps.

Shares of Tencent, which is listed on the Hong Kong Stock Exchange, have risen high enough to make the company worth HK$3.9 billion, which is more than US$500 billion. As a result, Tencent is now the first Chinese technology firm valued at over a half-trillion dollars. Several American tech companies, like Apple, Alphabet, Facebook, Microsoft and Amazon, have also passed the $500 billion mark.

Tencent owns WeChat, the number one social networking service in China. The company has also developed or acquired top games like Honour of Kings, Clash of Clans and League of Legends. In the last quarter, its PC and mobile games generated $5 billion in revenue.

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This article was originally published on Monday Nov 20th 2017
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