Facebook has been so busy trying to keep Twitter and Snapchat in check that it probably never saw this one coming…
China’s Tencent has overthrown the social media giant by billions of dollars. That’s right — billions.
In USD, Tencent is now worth a whopping $534.5 billion whereas Facebook “only” totals $519.4 billion, according to reports.
With this 13-digit valuation, the Chinese investment conglomerate has become the first company in the country’s history to break $500 billion. Tencent’s prized WeChat makes up the lion’s share of the brand with over a billion users and counting. The app was first introduced in 2011, and since it has become one of the largest standalone messaging systems in terms of monthly users.
As a whole, Tencent also provides media, gaming, news, entertainment, social networking, internet services, e-commerce, smartphones, artificial intelligence, advertising and more — pretty much anything you can think of when it comes to mass communication and information.
Your move, Facebook.
Source: Hypebeast
This article was first published on Your EDM.
Source: Facebook Is No Longer The World’s Most Successful Social Media Company
from News – Your EDM http://ift.tt/2iFiaal
SUBSCRIBE TO YOUREDM CHANNEL TODAY.
YOUR EDM provides the inside scoop on the EDM industry.
Subscribe and go DEEP inside the electronic scene.
SPONSORS
Sourced by actual house heads who have supported the EDM scene, music, culture, and vibe collectively for decades Always dedicated to showing love and support for the fellow artists, promoters, and supporters.
House Music is the soul survivor of a murdered disco dynasty. A dynasty that brought freedom of experession through dance and fashion. A definite anti-establishment media HIT job programmed and pushed thru corporate radio. - Jason Ring
ConversionConversion EmoticonEmoticon