So the recent integration of games and a mobile payment service into WeChat could potentially be a revenue generator. Multi-platform texting app KakaoTalk released Kakao Game last year and its monthly revenue rose nine-fold to $35.3 million in three months.
WeChat games are currently only available in China, but could roll-out to the service's over 100 million registered users in Southeast Asia, India and Latin America. Tencent plans to spend up to $200 million this year to advertise WeChat in emerging markets. The company is also building a mobile games open platform - featuring in house titles as well as those sourced from third-party developers - for WeChat and instant messenger service QQ.
"Part of Tencent's strategy is to invest in good content developers and publishers worldwide so they're very interested to see what other content is out there, how it's made, just to have access to good, talented developers. That's a key focus for them, " says Hans Tung, Beijing managing partner at Qiming Venture Partners.
Tencent is not alone in using M&A to build its presence in the mobile space. Baidu recently agreed to pay $1.85 billion for NetDragon Websoft's 91 Wireless, a Chinese mobile app store and game operator. With Google's Android mobile operating software the most popular in China yet its Google Play application store often inaccessible, a host of third-party store providers compete for users. It is a fragmented market and content is often infested by viruses and malware.
In 91 Wireless, Baidu will have one of the largest third-party app distribution platforms in China and a viable competitor for rival Qihoo 360's app store.
IDG Capital Partners, DT Capital Partners, iD TechVentures and Temasek Holdings-owned Vertex Venture were investors in 91 Wireless, and the mobile segment has seen an increase in investment and M&A activity over the last year. Mobile game developer China Mobile Games & Entertainment Group acquired eight game development teams last year and has raised $25 million in funding for further business development.
"The reason we are not as afraid of the creative risk in the investment is because we know mobile gaming is the best way to monetize traffic. If you have one hit game the chance of being bought by someone is actually pretty high, whether it's a listed Chinese media company or an online game developer overseas. People will want to buy you for the asset you have already. You don't have to IPO, " explains Tung.
Samsung Galaxy Note II GT-N7100 - factory unlocked- 16GB Gray
100 million internet users in China2005-07-07 14:41:35 by Interloper
And 358 million cell phone users.
Let's borrow some more money, shall we?
The number of internet users in China has risen above 100 million for the first time, according to reports in the country's state media.
Only the US now has more web surfers as young and old Chinese take to the internet in record numbers.
The figure is expected to grow rapidly in the next few years.
China's economic boom is behind the dramatic rise as increasing personal wealth means more people are able to buy computers and go online.
But the Chinese authorities are less in love with the net
Layoffs2001-07-20 18:17:32 by jobsdrop
Company Name Status Action
Online grocery and delivery service Closely held; backed by Hong Kong tycoon Jimmy Lai In December 2000, announced plans to shut down, lay off 334 employees
Online ad firm
Baltimore Closely held; backed by AOL and Reuters, among others In January 2001 announced plans to lay off 72 employees, or 25% of its staff
New York Public In December 2000, laid off about 190 employees
Hayward, Calif. Closely held; pulled IPO in June 2000 Laid off 100 in September 2000; shut down its services in January 2001
Palo Alto, Calif. Unit of CMGI Set plans in mid-September 2000 to lay off 200,...
Apple ( AAPL) Prepares to Ship iPhones to China Mobile (CHL)
Apple's sales in Greater China fell 14 percent in its most recent quarter to $4.6 billion, while its China mobile market share is sitting at 5 percent, putting Apple in seventh-place behind leader Samsung. Apple ended Friday's session up 0.6 percent.
Transcend 1 TB USB 3.0 External Hard Drive - Military Drop Standards (TS1TSJ25M3)
Personal Computer (TRANSCEND)
Intel Next Unit of Computing Kit with Dual HDMI, Gigabit LAN, Core i3-3217U DC3217IYE
Personal Computer (Intel)
SanDisk Cruzer Blade USB flash drive 4GB SDCZ50-004G