Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Tencent Company
Stock Market

Tencent company pressed Facebook and became the leader of the social networks segment

08.04.2021
2 min read

Chinese company Tencent increases capitalization

Tencent company owns a huge number of assets, including Chinese social networks and WeChat messenger. In the latter sector, the Internet giant achieved huge success, allowing it to overtake Facebook. According to the results of the two corporations’ profits, Tencent has become the most expensive company in the social networks sector. Prior to that, Facebook was the leader in the segment, but the mass refusal of customers to advertise reduced its capitalization and moved it to the second place in the rating.
Tencent shares continue to rise in price at the Hong Kong Stock Exchange. In just one trading session their value grew by 4.7%. As a result, Tencent’s market capitalization increased to $670 billion. While this figure for the American company Facebook was 657 billion dollars.
A few months ago, analysts estimated the market price of Facebook at 629 billion dollars, making it the sixth largest global company. Tencent had a value of $599 billion, which is the seventh place. In 2019, the Chinese corporation was two places lower.

Tencent Company

Tencent managed to overtake Facebook in its segment as a result of recent problems that hit the American Internet giant. In June last year, the BlackLivesMatter movement began in the U.S., and after that worldwide. As a result, many advertisers accused the company of misguided policies toward racial inequality. As a result, Unilever Corporation, which is one of the largest customers of advertising, said that so far it has ceased cooperation with Facebook and its products, including Instagram. The corporation explained its position by the fact that the placement of advertising on these platforms will not be favourably received by society and has no benefit for the world as a whole. Following this statement, Facebook shares fell in price by 8% and Mark Zuckerberg’s fortune decreased by more than 7 billion dollars in just one day.
Tencent Corporation was founded in 1998, and during this time it has achieved great success in the Chinese market. The main product of the company is the WeChat messenger, which is used by over 1 billion people. It appeared in 2010 and since then, Tencent’s capitalization has increased 10 times. The messenger allows making video and audio calls not only to WeChat users, but also to landlines and cell phones. In addition, you can use it to pay for purchases and read the newsletter.
In addition, Tencent is actively developing the game direction. In 2011, the corporation acquired the studio, which owns the popular game League of Legends.

Tags: Stock Market
0
Previous Post The Chinese government can expect a financial trap Next Post Corporation analysts: prospects of Disney Plus streaming service

You Might Also Like

Finance in Spain
Stock Market
Spanish financials: securities market characteristics
02.07.2020
manufacturer VinFast Auto
Stock Market
VinFast Auto plans to sell part of its shares
21.02.2024
billionaire woman
Stock Market
First female billionaire from Africa: professional plans related to the Russian market
31.08.2020
Vezbi app joins WPF
Stock Market
WPF Holdings acquires Vezbi super app
06.07.2023
FRS has lowered the stakes
Stock Market
FRS has lowered the bet: review of the new strategy from Jerry Powell
01.08.2020
law on categorization of investors
Stock Market
Law on categorization of investors: review of changes in the document
18.04.2021

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics