Tencent seeks video breakthrough after US$240bil lite app hit


WeChat has established a so-called walled garden that controls what content and services its users can interact with. ByteDance, which has been eating away at Tencent’s lead in areas like social media and gaming, is among a number of rivals that have long complained about the platform blocking their services. — AFP

WeChat creator Allen Zhang is counting on a breakthrough in video to thwart TikTok owner ByteDance Ltd, building on the success of his last big overhaul of the all-in-one messaging app.

Zhang, celebrated in China for inventing Tencent Holdings Ltd’s signature creation, has toyed for years with ways to keep and expand WeChat’s industry lead, particularly as upstarts like Douyin – the Chinese twin to TikTok – began to surpass WeChat in user time-spent. Since 2017, mini apps – the last significant WeChat innovation – have blossomed into a US$240bil (RM970.80bil) marketplace, with 400 million daily users doubling the amount they spent last year on transactions such as booking rides and buying groceries.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

mini programs

   

Next In Tech News

GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers
Emerson proposes to acquire remaining shares of AspenTech at $240 apiece
Data analytics firm Palantir jumps as AI boom powers robust software adoption
Tax fraud investigators search Netflix offices in Paris and Amsterdam, says source
Singapore's Keppel to buy Japanese AI-ready data centre
Tesla increases wages for staff at German gigafactory by 4%
Apple explores push into smart glasses with ‘Atlas’ user study
Japan's Kioxia sees flash memory demand almost tripling by 2028
Hacker gets into woman’s email, changes every password, tries to make purchases
Foxconn says Oct revenue +8.59% y/y, Q4 outlook good

Others Also Read