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Its first product was instant-messaging software similar to AOL’s ICQ chat service. Ma, whose English name is Pony, co-founded Tencent with a Shenzhen University classmate, Zhang Zhidong, in November 1998. His first job was developing software for pagers at China Motion Telecom Development, a supplier of telecommunications services and products in Shenzhen. In 1993, Ma graduated from Shenzhen University, where he studied computer science. His father, Ma Chenshu, moved the family to Hainan, an island off the south coast, and later to Shenzhen, near Hong Kong, where he got a job as a port manager. Ma Huateng was born in Shantou, a city in the southern province of Guangdong, in 1971. Shares of Tencent have leaped 6,000% since its IPO. He controls the Shenzhen- based company through Advanced Data Services, a British Virgin Islands investment entity.
The majority of Ma Huateng’s wealth is derived from his more than 10% stake in Tencent. Alibaba’s Jack Ma, who founded the world’s largest Internet marketplace, is worth $3.7 billion. Baidu chairman Robin Li became the nation’s wealthiest individual earlier this month with a fortune of $12.4 billion. That’s greater than the population of any other country except India.īaidu and Alibaba also are led by billionaires. for China’s 591 million mobile Internet users. Tencent hired soccer superstar Lionel Messi to promote WeChat as it pursues new revenue streams, including charging for emoticons, to compete with Alibaba Group Holding Ltd and search engine Baidu Inc. “We believe Tencent is well-positioned among the top mobile Internet entries via Weixin, beckoning a global Internet trend," You said. Tencent is counting on WeChat, which targets more upscale users than QQ, for its global expansion. Tencent’s QQ instant-messaging service had 818 million monthly active users at the end of June, and WeChat had 236 million, almost twice the population of Japan. The brokerage initiated coverage of Tencent on 18 November with a buy rating. “We view Tencent has the makings of a great long stock and expect significant growth from its mobile Internet business," said You Na, a Hong Kong-based analyst at ICBC International.
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