History of Tencent in Timeline
Tencent Holdings Ltd., headquartered in Shenzhen, is a Chinese multinational technology and holding company. It is one of the world's most profitable multimedia companies and the largest video game company by equity investment. Tencent Games, a division of Tencent Interactive Entertainment Group (IEG), focuses on game publishing.
1996: Release of ICQ by Mirabilis
In 1996, an Israeli company named Mirabilis released one of the first standalone instant messaging clients named ICQ.
November 1998: Tencent Inc. Established
Tencent was established in November 1998 as Tencent Inc. in the Cayman Islands by Pony Ma, Zhang Zhidong, Xu Chenye, Charles Chen, and Zeng Liqing.
1998: AOL acquires ICQ
In 1998, AOL acquired ICQ, leading to a lawsuit against Tencent for violating ICQ's intellectual property rights.
1998: Tencent Founded
Tencent was founded in 1998 as a technology company offering various internet-related services and products.
February 1999: OICQ Messenger Released
Tencent launched its messenger product, OICQ, in February 1999, later renamed QQ due to a potential legal conflict with ICQ and AOL.
February 1999: Tencent Launches QQ Instant Messaging Platform
Tencent's first notable product, QQ, launched in February 1999, becoming one of the most popular instant messaging platforms in China.
December 2000: Launch of QQ
In December 2000, after losing a lawsuit to AOL for violating ICQ's intellectual property rights, Tencent released a new version of its OICQ product and rebranded it QQ. With its free-to-use model and customizable avatars, QQ hit 50 million users in its second year.
2001: Naspers Acquires Stake in Tencent
South African media firm Naspers acquired a 46.5% share of Tencent in 2001.
June 2004: Tencent Listed on Hong Kong Stock Exchange
Tencent Holding Ltd was listed on the Hong Kong Stock Exchange on June 16, 2004.
2004: Tencent Enters Online Gaming
Tencent's venture into online gaming began in 2004.
September 2005: Launch of PaiPai.com and TenPay
In September 2005, Tencent launched PaiPai.com, a C2C auction site, and TenPay, an online payment system supporting B2B, B2C, and C2C payments. These launches marked Tencent's entry into the e-commerce and online payment markets.
2005: Tencent Expands Revenue Streams
By 2005, Tencent expanded its revenue sources to include QQ mobile services, licensing its penguin character, and advertising.
2005: Tencent Launches Qzone Social Networking Service
In 2005, Tencent introduced Qzone, a social networking and blogging service integrated with QQ, which grew to become one of China's largest social networks.
March 2006: Launch of Soso.com
In March 2006, Tencent launched its search engine Soso.com. This launch marked Tencent's entry into the search engine market, enhancing its digital service offerings.
2007: Tencent Expands Game Offerings Through Licensing
Around 2007-2008, Tencent significantly expanded its game offerings by licensing games.
2007: Establishment of Tencent Research Institute
In 2007, Tencent invested over RMB 100 million to establish the Tencent Research Institute, China's first research center dedicated to core Internet technologies. The campuses are located in Beijing, Shanghai, and Shenzhen.
2008: Tencent Added to Hang Seng Index
Tencent was included as a constituent stock of the Hang Seng Index in 2008.
2008: Tencent Invests in Riot Games
Tencent's initial investment in Riot Games, acquiring a 22.34% equity interest, occurred in 2008.
2008: Tencent Expands Game Offerings Through Licensing
Around 2007-2008, Tencent significantly expanded its game offerings by licensing games.
2008: Release of QQ Player and Tencent Traveler
In 2008, Tencent released QQ Player, a free media player, and launched Tencent Traveler, a web browser based on Trident. Tencent Traveler became the third most-visited browser in China in the same year.
2008: QQ user milestone
In 2008, QQ achieved 856 million users and at most 45.3 million synchronous users.
2008: Virtual Goods Drive Tencent's Profit Growth
By 2008, the sale of virtual goods became a significant contributor to Tencent's profit growth.
April 2009: Tencent Launches iTQQ Smart TV Service
In April 2009, Tencent collaborated with TCL to launch iTQQ, a smart interactive television service, marking its entry into the smart TV market.
April 2010: Tencent Launches Tencent Weibo Microblogging Service
Tencent expanded its social media presence with the launch of Tencent Weibo, a microblogging service, in April 2010.
December 2010: Tencent QQ Reaches 647.6 Million Active Users
By December 2010, Tencent QQ had amassed 647.6 million active users, establishing it as the world's largest online community at the time.
January 2011: WeChat Launched
Tencent introduced the social media app Weixin, later rebranded as WeChat, on January 21, 2011.
February 2011: Tencent Acquires Majority Stake in Riot Games
On February 18, 2011, Tencent acquired a majority stake (92.78%) in Riot Games, the developer of League of Legends, for about US$\230 million.
June 2011: Launch of Tencent Video
In June 2011, Tencent launched Tencent Video, a video streaming website. This marked Tencent's entry into the video streaming market, enhancing its digital content offerings.
March 2012: Tencent Launches Tencent Comic Platform
In March 2012, Tencent launched Tencent Comic, which would eventually grow into China's largest online animation platform.
June 2012: Tencent Invests in Epic Games
Tencent made a minority investment in Epic Games, the developer of popular game franchises such as Fortnite, Unreal, Gears of War, and Infinity Blade, in June 2012.
October 2012: Soso.com popularity ranking
On 1 October 2012, Soso.com was ranked as the 33rd most visited website globally and the 11th in China, according to Alexa Internet. This ranking reflected its significant user base and popularity.
2012: Investment strategy shift begins
Starting from 2012, Tencent began aggressively investing in other companies, a shift from its earlier strategy of replicating competitors' products.
September 2013: Discontinuation of Soso.com
In September 2013, Tencent discontinued Soso.com after investing in Sogou, replacing Soso.com with Sogou Search as its main search engine. This strategic shift aimed to consolidate Tencent's position in the search engine market.
September 2013: Tencent Invests in Sogou.com
Tencent invested US$\448 million in Sogou.com, a Chinese search engine and subsidiary of Sohu, Inc., for a minority share on September 17, 2013.
January 2014: Tencent Invests in China South City Holdings
Tencent invested HKD 1.5 billion (US$\193.45 million) in China South City Holdings Ltd, a logistics and warehouse company, to support its e-commerce and logistics operations in January 2014.
February 2014: Tencent Acquires Stake in Dianping
Tencent acquired a 20% stake in Dianping, a website for restaurant ratings and group buying, for US$\400 million in February 2014.
March 2014: Stake acquisition in JD.com
On 10 March 2014, Tencent acquired a 15% stake in JD.com, including transferring its e-commerce businesses to JD.com. This strategic move provided JD.com with exclusive access to Tencent's WeChat and MobileQQ platforms.
March 2014: Tencent Invests in JD.com
Tencent acquired a 15% stake in JD.com Inc., a Chinese e-commerce platform, in March 2014, by paying cash and transferring its e-commerce businesses Paipai, QQ Wanggou, and a stake in Yixun to JD.com.
March 2014: Tencent Acquires Stake in CJ Games
Tencent acquired a 28% stake in CJ Games, a South Korean gaming company, for approximately US$\500 million in March 2014.
May 2014: JD.com listed on NASDAQ
In May 2014, JD.com, in which Tencent had acquired a significant stake, became the first Chinese e-commerce company to be listed on the NASDAQ exchange. This milestone marked JD.com's rise in the global e-commerce market.
May 2014: Tencent Increases Stake in JD.com
Following JD.com's NASDAQ listing in May 2014, Tencent increased its stake in the company to 17.43% with an additional investment of US$\1,325 million.
June 2014: Tencent Acquires Stake in 58.com
Tencent purchased a 19.9% stake in 58.com (WUBA) Inc., a Chinese e-commerce website, for US$\736 million in June 2014.
October 2014: Tencent Invests in Koudai Gouwu
Tencent invested US$\145 million in Koudai Gouwu, a Chinese mobile shopping portal, for a 10% stake in October 2014.
October 2014: Tencent Invests in China LotSynergy Holdings
Through its wholly owned subsidiary, Hongze Lake Investment Ltd, Tencent acquired a 7% stake in China LotSynergy Holdings Ltd, a lottery technology firm, for HKD 445.5 million (US$\57.4 million) on October 16, 2014.
November 2014: Tencent Secures Exclusive HBO Distribution Rights in China
Tencent reached an agreement with HBO in November 2014, securing exclusive rights to distribute HBO content in China.
December 2014: Tencent Leads Funding Round for Didi Dache
Tencent led a funding round for Didi Dache, a Chinese taxi-hailing app, raising over US$\700 million, with participation from Singapore's Temasek Holdings in December 2014.
2014: Tencent Secures Exclusive Music Distribution Agreements in China
Tencent secured exclusive distribution agreements with major music producers like Sony, Warner Music Group, and YG Entertainment in 2014, strengthening its position in the Chinese music market.
January 2015: Tencent Partners with NBA to Stream Games in China
Tencent signed a US$\700 million agreement with the National Basketball Association (NBA) in January 2015 to stream NBA games in China.
January 2015: WeBank (China) Trials Commence
Trials for WeBank (China), China's inaugural online-only bank, began on January 18, 2015, following the website launch on December 29, 2014.
April 2015: Tencent Increases Stake in 58.com
Tencent increased its stake in 58.com to approximately 25% by investing an additional US$\400 million in April 2015.
December 2015: Riot Games Sells Remaining Equity to Tencent
Riot Games sold its remaining equity to Tencent on December 16, 2015.
December 2015: JD announces end of Paipai.com
On 31 December 2015, JD announced it would stop supporting Paipai.com, integrating its team into other e-commerce platforms due to issues with fake goods. This decision marked the end of Paipai.com's operation.
2015: Removal from security software whitelists
In 2015, security testing firms AV-Comparatives, AV-TEST, and Virus Bulletin removed Tencent from their software whitelists after finding that the company's products contained optimizations that falsely made the software appear less exploitable.
2015: Tencent Ranked Among 50 Most Innovative Companies
In 2015, Tencent was recognized as one of the 50 most innovative companies globally by the Boston Consulting Group and Fast Company.
2015: Tencent Establishes Tencent Pictures and Tencent Penguin Pictures
Expanding its entertainment ventures, Tencent launched Tencent Pictures, a film distributor and production company, and Tencent Penguin Pictures, focusing on online dramas and film investments, in 2015.
April 2016: Paipai.com shut down
By 1 April 2016, Paipai.com was fully shut down following a transitional period. JD later relaunched it as PaiPai Second Hand to compete in the second-hand e-commerce market.
June 2016: Tencent Acquires Majority Stake in Supercell
Tencent acquired an 84.3% stake in Supercell, the developer of Clash of Clans, for US$\8.6 billion in June 2016.
July 2016: Tencent Acquires Majority Stake in China Music Corporation
Tencent gained a controlling stake in China Music Corporation in July 2016.
December 2016: Announcement of QQ Haiwai
On 21 December 2016, Tencent announced QQ Haiwai, its first international real estate listings and information platform, in partnership with Juwai.com. This announcement took place at Tencent's annual regional summit in Beijing.
2016: Tencent Releases Second Quarter 2016 Financial Report
In 2016, Tencent announced its second-quarter financial report, leading to a 6.2% increase in its stock price on the Hong Kong stock market.
2016: Tencent Co-founds Future Mobility
In 2016, Tencent partnered with Foxconn and Harmony New Energy Auto to establish Future Mobility. This car startup aimed to develop and sell all-electric, fully autonomous premium cars.
2016: Tencent's Party Branch Recognized
In 2016, Tencent's in-firm Communist Party branch was acknowledged as one of the top 100 branches in China.
March 2017: Tencent Invests in Tesla
In March 2017, Tencent acquired a 5% stake in Tesla, Inc. for US$1.78 billion, marking a significant investment in the electric vehicle market.
April 2017: Announcement of VR headset launch
In April 2017, Tencent announced its plans to launch a virtual reality headset within that year. This announcement highlighted Tencent's interest in entering the VR market.
May 2017: Tencent Becomes a Top 10 Global Company and Invests in eSports Town
May 2017 saw Tencent reach the top 10 most valuable companies globally, surpassing Wells Fargo. Additionally, Tencent partnered with Wuhu City Council to develop the first eSports town, featuring an eSports theme park, university, and more.
May 2017: Tencent Challenges Baidu with WeChat News Feed and Search
In May 2017, Tencent integrated news feed and search functions into its WeChat app, directly challenging the dominance of Chinese search engine Baidu. At the time, WeChat boasted a user base of 770 million people.
June 2017: Tencent Rises in Brand Value, Develops Xiaowei, and Introduces Mini-Programs
Tencent's global influence increased in June 2017, ranking 8th in BrandZ's Top 100 Most Valuable Global Brands. The company introduced its voice assistant, Xiaowei, and launched mini-programs, enabling users to access apps within WeChat without downloads.
July 2017: Tencent Acquires Stake in Frontier Developments
Tencent acquired a 9% stake in Frontier Developments, the company known for titles like Elite: Dangerous and Planet Coaster, in July 2017.
August 2017: Tencent Surpasses US$400 Billion Market Cap
Following strong financial results in August 2017, Tencent's market value exceeded US$400 billion, making it the second Asian company to achieve this milestone after Alibaba Group.
August 2017: Release of AI Medical Innovation System (AIMIS)
In August 2017, Tencent released the AI Medical Innovation System (AIMIS), which assists doctors with AI medical imaging and diagnosis. The system is used in over 100 major Chinese hospitals, improving diagnostic accuracy and efficiency.
September 2017: Tencent Announces Global Expansion of Chinese Online Comics
Tencent revealed its plans to introduce Chinese online comics to the global market in September 2017, starting with North America, through a partnership with Tapas Media.
October 2017: Report Reveals CCP Influence at Tencent
In October 2017, a report by Sina Tech highlighted the presence of over 7,000 Chinese Communist Party (CCP) members within Tencent, suggesting their significant role in the company's development, particularly in WeChat.
November 2017: Tencent Invests in Snap Inc. and Reaches Major Milestones
Tencent acquired a 12% stake in Snap Inc. in November 2017, aiming to develop Snapchat as a gaming platform. WeChat reached 980 million monthly active users. Tencent also became the first Asian company valued at over US$500 billion.
December 2017: Tencent Music Entertainment and Spotify Form Strategic Alliance
Tencent's music arm, Tencent Music Entertainment (TME), and Spotify entered a strategic collaboration in December 2017, swapping a 10% stake in each other's music businesses.
2017: Tencent Partners with Universal Music Group and Alibaba on Music Streaming
Tencent signed a deal with Universal Music Group in 2017 to stream its music in China and entered a partnership with Alibaba Group to share music-streaming rights, promoting licensed streaming and the growth of the Chinese music market.
2017: Launch of Tencent Credit
In 2017, Tencent launched its own credit score system, Tencent Credit, similar to Alibaba's Sesame Credit. This system aimed to enhance financial trustworthiness and credit assessment in China.
2017: Development of central payments clearing platform
In 2017, Tencent collaborated with China's Central Bank to develop a central payments clearing platform for online payments. This initiative aimed to streamline and secure online transactions in China.
2017: Tencent's Stake in Activision Blizzard Decreases
By 2017, Tencent's stake in Activision Blizzard had decreased to less than 4.9%.
2017: Tencent Focuses on Tech Startups
Tencent shifted its investment focus to tech startups in Asia in 2017.
January 2018: Tencent Partners with LEGO, Invests in Wanda Commercial, and Collaborates with Carrefour
January 2018 marked several strategic moves for Tencent, including a partnership with The LEGO Group to develop online games, a US$5.2 billion investment in Wanda Commercial, and a strategic cooperation agreement with Carrefour in China.
April 2018: TikTok sues Tencent
In April 2018, TikTok sued Tencent, accusing it of spreading false and damaging information on its WeChat platform. TikTok demanded RMB 1 million in compensation and an apology.
June 2018: Tencent files lawsuit against TikTok
In June 2018, Tencent filed a lawsuit against Toutiao and TikTok in a Beijing court, alleging defamation and seeking RMB 1 million in compensation and a public apology.
August 2018: Tencent Reports Profit Decline, Impacting Market Value
Tencent experienced its first profit decline in over a decade in the second quarter of 2018, attributed to reduced investment gains and government scrutiny of its gaming business. This led to a significant drop in market value and affected other Chinese internet stocks.
September 2018: Tencent Partners with Luckin Coffee
In September 2018, Tencent entered a strategic cooperation agreement with Luckin Coffee.
2018: Tencent Surpasses US$\500 Billion Valuation
Tencent surpassed a market value of US$\500 billion in 2018, making it the first Asian technology company to achieve this.
2018: Tencent Recognized as an "AI Champion" by China
In 2018, the Chinese government recognized Tencent as one of its "AI champions."
August 2019: Collaboration on patriotic games
In August 2019, Tencent collaborated with the Guangdong Propaganda Department of the Chinese Communist Party and the People's Daily to develop 'patriotic games'.
October 2019: Tencent Music Signs Distribution Agreement with CD Baby and TuneCore
In October 2019, Tencent Music signed a streaming music distribution agreement with CD Baby and TuneCore, enabling independent artists to access the Chinese music market through Tencent's platforms.
October 2019: Tencent Cancels NBA Broadcasts, Issues Refunds
Following Houston Rockets general manager Daryl Morey's comments supporting protests in Hong Kong, Tencent chose to cancel NBA game broadcasts and issued refunds to customers in October 2019.
October 2019: Cessation of Houston Rockets NBA broadcasts
In October 2019, Tencent announced it would stop broadcasting Houston Rockets NBA games in China due to a tweet made by Daryl Morey, the general manager of the Rockets, supporting the 2019–2020 Hong Kong protests. The tweet was quickly deleted, but the news spread globally.
December 2019: Chinese government orders data rule improvements
In December 2019, the Chinese government ordered Tencent to improve its user data rules for its apps, as regulators found them to be in violation of censorship rules.
2019: Tencent Conducts Penetration Testing on Tesla's Systems
Until 2019, Tencent successfully carried out penetration testing on the automotive control systems of Tesla, following its 2017 investment in the company.
2019: Investment in game companies
In 2019, Tencent continued its aggressive investment strategy, acquiring stakes in globally renowned game companies.
2019: Announcement of WeCity project
In 2019, Tencent announced its WeCity project, aimed at developing a smart city solution for digital governance, urban management, and decision-making, as well as industrial interconnections.
March 2020: Testing of Trovo Live
In March 2020, Tencent began testing Trovo Live, a live-streaming service aimed at global users. This move indicated Tencent's ambition to expand its live-streaming services beyond China.
March 2020: Co-innovation lab with Huawei
On 27 March 2020, Tencent and Huawei launched a co-innovation lab to develop a cloud-based game platform, leveraging Huawei's Kunpeng processor. This collaboration aimed to explore AI and augmented reality in gaming.
March 2020: Tencent Acquires Stake in Universal Music Group
Tencent further expanded its music industry presence by acquiring a 10% stake in Universal Music Group, the world's largest music group, from Vivendi in March 2020, with an option to purchase an additional 10%.
May 2020: Investment in new digital infrastructure
On 26 May 2020, Tencent announced plans to invest 500 billion yuan (US$70 billion) over the next five years in new digital infrastructure. This major hi-tech initiative aimed to support Beijing's economic recovery efforts post-COVID-19.
May 2020: Tencent Acquires Rights to System Shock 3
Tencent secured the rights to develop and release System Shock 3, as well as any future installments in the franchise, from OtherSide Entertainment in May 2020.
June 2020: Acquisition of Iflix
Since June 2020, Tencent has owned the Malaysian Video-on-demand service Iflix. This acquisition further solidified Tencent's presence in the Southeast Asian digital content market.
June 2020: Tencent unveils Net City
In June 2020, Tencent unveiled plans for an urban development called 'Net City' in Shenzhen. The 21-million-square-foot development, equivalent in size to Monaco, will be built on reclaimed land and prioritize pedestrians, green spaces, and self-driving vehicles. The project will include corporate offices, a school, apartments, sports facilities, parks, and retail space.
June 2020: Tencent Acquires iflix
In June 2020, Tencent expanded its entertainment portfolio by acquiring iflix, a video-on-demand service based in Kuala Lumpur, Malaysia.
June 2020: Tencent increases stake in Nio
At the end of June 2020, Tencent increased its direct stake in Nio to 15.1% by acquiring more of the Chinese electric vehicle maker's New York-listed shares. Tencent spent $10 million to buy 1.68 million American Depositary Shares earlier in the month, according to Nio's latest filing with the U.S. Securities and Exchange Commission.
June 2020: Tencent acquires shares in Warner Music Group
In June 2020, Tencent bought 1.6% of Warner Music Group's shares following WMG's IPO launch earlier in the same month. This strategic acquisition marked Tencent's continued expansion in the global entertainment industry.
August 2020: Trump Signs Executive Orders Against TikTok and WeChat
In August 2020, President Trump signed two executive orders, one targeting TikTok and the other targeting WeChat, both owned by Chinese companies. The orders threatened to ban transactions with these apps within 45 days, effectively banning them in the U.S.
September 2020: Tencent Establishes Asian Hub in Singapore
Tencent selected Singapore as its central hub for Asia in September 2020, following similar moves by ByteDance and Alibaba to solidify their presence in the region.
September 2020: Deadline for TikTok and WeChat Ban
The executive orders signed by President Trump in August 2020 set a deadline of September 20, 2020 for banning transactions with TikTok and WeChat in the United States.
October 2020: Introduction of AIMIS Image Cloud
In October 2020, Tencent introduced AIMIS Image Cloud, designed to help patients manage medical images and allow professionals to access exams and reports. The platform supports cloud-based communication and consultation for medical institutions.
December 2020: CIA allegations of early funding
In a December 2020 article in Foreign Policy, a former senior CIA official stated that the CIA concluded Tencent received funding from the Ministry of State Security early on in its foundation. Tencent denied this allegation.
2020: Investment in over 800 companies
By 2020, Tencent had invested in over 800 companies worldwide, shifting its strategy from replication to acquisition. Tencent's investments ranged from minority to majority stakes in companies like Riot Games, Epic Games, Activision Blizzard, SuperCell, and Bluehole.
2020: Tencent Ranked Among 50 Most Innovative Companies
In 2020, Tencent was recognized as one of the 50 most innovative companies globally by the Boston Consulting Group and Fast Company.
2020: Broadcast ban on Houston Rockets NBA games
In 2020, Tencent's decision to stop broadcasting Houston Rockets NBA games in China continued, reflecting the company's response to Daryl Morey's tweet supporting Hong Kong protests.
January 2021: Class action lawsuit for user censorship
In January 2021, a proposed class action lawsuit was filed in California against Tencent, alleging user censorship and surveillance via WeChat.
January 2021: Tencent Acquires Lazy Audio
Tencent acquired Lazy Audio from Shenzhen Lanren Online Technology Co for 2.7 billion yuan in January 2021.
January 2021: Tencent's Valuation Approaches US$\1 Trillion
Tencent's valuation neared US$\1 trillion in January 2021 before experiencing a decline.
July 2021: Tencent's Merger of Huya Live and DouYu Blocked
China's antitrust regulator blocked Tencent's proposed merger of Huya Live and DouYu in July 2021. The decision came after Tencent withdrew and refiled the application, failing to address concerns about exclusive rights.
July 2021: TikTok Lawsuit Against Trump Dismissed
Following the revocation of the executive order banning TikTok under the Biden administration, the lawsuit filed by TikTok against former President Trump was dismissed in July 2021.
December 2021: Tencent Acquires Slamfire Inc. and Turtle Rock Studios
In December 2021, Tencent further expanded its gaming portfolio by acquiring Slamfire Inc. and its subsidiary, Turtle Rock Studios, the renowned developer behind Left 4 Dead and Back 4 Blood.
December 2021: Stake in UK digital bank Monzo
On 31 December 2021, it was reported that Tencent had acquired a stake in the UK digital bank Monzo. This investment underscored Tencent's interest in expanding its financial services footprint globally.
2021: Development of Central bank digital currency
In 2021, it was reported that Tencent and Ant Group were working with the People's Bank of China to develop a Central bank digital currency.
January 2022: Tencent Fined by SAMR for Unreported M&A Deals
In January 2022, Tencent was fined by the State Administration for Market Regulation (SAMR) for failing to report nine merger and acquisition deals. The fines totaled RMB 4.5 million (US$710,000).
January 2022: Tencent Abandons Acquisition of Black Shark
Tencent was in talks to acquire gaming smartphone maker Black Shark in January 2022. However, the deal fell through due to regulatory scrutiny of metaverse businesses in China.
February 2022: Tencent Becomes World's Tenth Most Valuable Company
In February 2022, Tencent became the world's tenth most valuable company by market value.
June 2022: Tencent Reports Slowest Revenue Growth, Impacted by Pandemic and Regulations
In June 2022, Tencent announced its slowest revenue growth since its IPO in 2004, attributed to a decline in advertising revenue due to the pandemic and stricter regulations in China.
June 2022: Partnership to develop influencers
In June 2022, Tencent partnered with Shanghai United Media Group to launch a plan to develop domestic and foreign influencers.
September 2022: Tencent Acquires Stakes in Guillemot Brothers Limited and Triternion
Tencent made two strategic investments in September 2022, acquiring a 49.9% stake in Ubisoft's parent company, Guillemot Brothers Limited, and a minority stake in Mordhau studio Triternion.
November 2022: Tencent Divests Majority Stake in Meituan
Due to China's regulatory crackdown on tech companies, Tencent decided to divest a significant portion of its stake in Meituan, valued at US$20.3 billion, through a dividend distribution to shareholders in November 2022.
November 2022: Sustainalytics downgrades Tencent
In November 2022, Sustainalytics downgraded Tencent to 'non-compliant' with the United Nations Global Compact principles due to the company's complicity with censorship.
December 2022: Discussion on technology's impact by Jia Wang
In December 2022, Jia Wang, deputy director at Tencent's Palo Alto office, spoke with WIPO Magazine about the impact of augmented reality, virtual reality, and artificial intelligence on the industry, emphasizing the importance of intellectual property protection for continued innovation.
January 2023: Allegations of copying World of Warcraft
In January 2023, Tencent's trailer for their new MMORPG, Tarisland, was said to resemble Blizzard's World of Warcraft, continuing the company's history of being accused of copying competitors.
December 2023: Chinese Gaming Regulations Impact Tencent's Market Value
On December 22, 2023, Tencent's market capitalization dropped by $46 billion due to Chinese government regulations aimed at curbing online gaming. However, after the government's announcement of improvements to gaming rules on December 27, 2023, Tencent's stock rose by 5%.
December 2023: China Literature Acquires Tencent Animation and Comics
In December 2023, Tencent's subsidiary, China Literature, acquired Tencent Animation and Comics, consolidating Tencent's presence in the entertainment industry.
December 2023: Tencent Increases Share Buybacks
In December 2023, Tencent accelerated its share buyback program, increasing daily purchases to about HK$1 billion, culminating in a record purchase of HK$10 billion (S$1.7 billion).
2023: Prosus Owns 26.16% of Tencent
As of 2023, Naspers, through its subsidiary Prosus, owns 26.16% of Tencent.
2023: Tencent Ranked 35th on Forbes Global 2000 List
Tencent was ranked 35th on the Forbes Global 2000 list in 2023.
2023: Golden share investment in Shenzhen Yayue Technology
In 2023, an entity controlled by the state-owned China Internet Investment Fund took a golden share investment in Shenzhen Yayue Technology. This led to a drop in Tencent's stock price when the news was published.
2023: Zero Project Award 2023
In 2023, Tencent received the Zero Project Award for innovative ICT solutions for persons with disabilities. The MTGPA Haptics, developed from Tencent's game technology, aids visually impaired users with vibro-tactile signals for navigation.
2024: Largest shareholders in Tencent
In early 2024, around 44% of Tencent shares were held by the general public, around 24% by institutions, and around 26% by Naspers, making them the largest shareholders.