2014, July 4
Have you heard of Tencent (腾讯), 4th largest internet company in the world (bigger than Facebook) ? It is known for QQ instant messaging, but the flagship product in 2014 has been WeChat (微信), the most powerful social-mobile app in China with 400 million users.
WeChat allows users to chat, speak, leave voice messages and other things like WhatsUp. But it is used also as a shopping channel and payment platform.
Consider this use case: Use the app service DidiDache to book the taxi. Then while riding on the cab, use other cool features to book the restaurant and order food, shop online or discuss with friends. At the end of the ride, use the same app linked to your bank card to pay the taxi. Clean, cashless, sophisticated, and powerful.
No wonder the revenue of Tencent grew 36% YoY, and only in the 1st quarter 2014 it was $3B. The value of WeChat alone is estimated to $30B.
Will keep you posted on some other cool ChinaIT companies soon.
Sasha