WeChat has also become a platform for businesses and brands to reach out to their customers, and for Chinese citizens to engage in public discourse. WeChat is used by Chinese internet users for a variety of activities, from messaging friends and family to paying bills, booking tickets, and ordering food. WeChat is the cornerstone of Tencent’s success, and the company has leveraged its success to become a major player in the Chinese digital ecosystem. It is now one of the largest technology companies in the world. Tencent has since diversified its business and has invested in a variety of companies, including the American ride-hailing service Lyft and the drone maker DJI. In 2011 Tencent released WeChat, a messaging app which has since grown to be one of the most popular apps in the world. In 2004 Tencent released the first version of QQ, a popular messaging application, and by 2009 it had over 800 million users. It soon shifted its focus to web-based services and began to grow and expand into other businesses, such as search engines, e-commerce, and online gaming. Profile Tencent 900b Wechat 259bstreetjournal began as an internet service provider in 1998 by Chinese entrepreneur and philanthropist Ma Huateng. Profile Tencent 900b Wechat 259bstreetjournal: A Brief History Tencent also holds a majority stake in the Chinese videogame publisher Riot Games, which is the developer of the popular multiplayer online battle arena (MOBA) game League of Legends. Tencent also owns the Chinese social media platform QQ, the Chinese streaming service QQ Music, the Chinese instant messaging app WeChat Moments, and the Chinese payment service Tenpay. Founded in 1998, the company is based in Shenzhen, China, and is best known for its messaging app WeChat, which has over one billion active monthly users. Tencent is one of the largest technology companies in the world, with a market capitalization of over 900 billion USD.
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