Background of Tencent
Tencent is a Chinese multinational company that has entered industries such as Internet-related services and products, entertainment, artificial intelligence, and technology. All of these were mainly started in China but has advanced to become a global brand. Tencent has become the world’s biggest gaming company throughs its huge investments in games and amazing contributions to the gaming industry through their high-end games such as Player Unknown Battle Grounds (PUBG) which has not only gained a top end game reputation in China but has also become one of the most renowned games globally.
With this the company has also gained the name of being the world’s largest social media company by bringing WeChat (picture1) to the social media market, which has gained the status of more than a social media app as it has many more features such an ordering food, ordering a taxi, buying movie tickets and transportation tickets, and many more. Alongside this Tencent also provides many internet services such as instant messenger Tencent QQ (picture2) and one of the largest web portals, QQ.com. It also owns the majority of China’s music services (Tencent Music Entertainment), with more than 700 million active users and 120 million paying subscribers. The company surpassed the market value of US$500 billion in 2018.
Latest News of Tencent
- Tencent has recently again invested in a big British game developer Sumo Digital’s owner, Sumo Group.
- Tencent is also leading a $250 million in a Chinese travel website namely Mafengwo which will help Tencent increased its footprint in the fast-growing travel industry
- Tencent is testing another social media app Youji which it unveils as a new social networking app
- Tencent has announced an overall prize pool of $5 million for its game PUBG mobile in 2020
Through all these investments and strategies, we can see that Tencent is trying its best to enter all the different types of markets, in which it is succeeding. Its name in the gaming industry still stays on the top and grows.
Influences in Hospitality Industry
By using its technology, Tencent also focuses on cloud services which allow the company to expand its business into several areas, such as gaming, education and the hospitality industry. As the biggest competitor of Tencent, Alibaba has built their own hotel recently, however, Tencent claimed that they are not going to have so-called “Tencent hotel”. They are trying to enter in hospitality industry in a different way as their mission, “Value for Users, Tech for Good”.
ShaShangri-La hotels and Tencent company became a partner of 智慧酒店(Smart Hotel) in China in 2018 which using technology to improve the service. For example, reducing check-in and checkout time by using facial recognition or self-service through technology, the deposit by Wechat Pay and personalized VIP service based on the information on Wechat etc.
In 2019 Wanda hotels and resorts also joined into this partnership. In order to satisfy the generation of millennium customers or the new generation, the company has to use technology and information which Tencent company is the biggest resource of it, especially in mainland China.
Technology for Good
All these investments, strategies and businesses of Tencent are trying to connect people with technology. Indeed WeChat app made our life much easier than we can survive with just one smartphone on our hands. Gaming became E-sports that connect people who love games in the world together. Tencent Cloud made the service industry like hotels be able to satisfy their customers in a smarter way. Tencent company is keeping our life simple, smarter and easier.
It seems there is nothing impossible with the technology, however, does it make our life safer? do people feel more secure with the technology? do people feel being connected through technology?
Some people would say that they prefer old way of meeting people in person, or writing letter to each other because that makes them feel more connected. Tencent is an amazing company and a leader of the modern technology era. I hope they not only connect people on unreal world but also in the real world and keep us safe by through technology.