Tencent has interests in more than 600 companies and began focusing on Asian technology startups in 2017. TechCrunch characterized Tencent’s investment strategy as allowing to start-ups in the portfolio to operate independently. Tencent’s value approached $1 trillion in January 2021 before collapsing. As of September 2022, Tencent has lost more than 60% of its market value since its peak in January 2021.
Another major subsidiary of Tencent is Tencent Games, which operates some of the most popular online games in the world, including League of Legends and PUBG. The company also owns a stake in Epic Games, the developer of Fortnite. Tencent’s gaming division generates billions of dollars in revenue each year, and has helped the company to become a major player in the global gaming market.
Tencent is also heavily involved in fintech, through its subsidiaries such as Tenpay, which operates China’s second largest mobile payment platform, and WeBank, which is China’s first digital-only bank. Tencent’s fintech ventures have helped to increase financial inclusion in China, particularly for people living in rural areas who previously had limited access to banking services.
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