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Tencent Has Crossed The $500 Billion USD Market Cap Milestone
Chinese tech company Tencent is huge. And now we have seen these figures ballooning past the $500 billion USD market cap. This is the first Chinese tech company to reach that milestone, with other big names in China like Alibaba and Baidu.
Tencent is currently the fifth most valuable company in the world, just behind other established tech giants like Apple (worth $873 billion), Alphabet (Google’s parent company), Microsoft and Amazon.
Gamesindustry.biz puts this value in another way: the market cap of Tencent is bigger than those of EA, Activision Blizzard, Ubisoft and Take-Two combined.
Tencent’s name may not be mentioned as much in the gaming industry, but they have big ownership in the space. Supercell, Epic Games, Riot Games and Frontier Developments are among the many studios working under them.
While their success may lie mostly in other areas, Tencent’s contribution in gaming, either through internal development such as the hit mobile MOBA Wangzhe Rongyao (Honor Of Kings in China, or Arena Of Valor for the rest of the world) or through owning the developers of huge games and game engines should also be taken note of.
Tencent has also recently scored the publishing rights of PUBG for China. Getting the massively popular game of 2017 (despite being Early Access still) to the biggest markets in the world will surely get them growing even more over time.