An executive at Tencent Holdings Ltd has been held by Chinese authorities as part of a probe into a high-profile corruption case involving one of China’s former top law-enforcement officials, the Wall Street Journal (WSJ) reported, citing people familiar with the matter. Shares in the gaming company and internet powerhouse fell 1.4 […]
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Jack Ma’s new chieftain outlines plan to fend off Tencent
Ant Group Chief Executive Simon Hu is aggressively pitching digital payment and cloud offerings to the local arms of KFC Holding Co. and Marriott International Inc., expanding the firm’s focus from banks and fund managers on its ubiquitous app. The Alibaba Group Holding Ltd. affiliate’s strategy is two-pronged. It halts […]
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Tencent’s Twitch streaming rival is hiding in plain sight
Tencent Holdings is rolling out a live-streaming service similar to Amazon’s Twitch in the US, making a rare foray into American social media. China’s largest company has been quietly testing a mobile-focused streaming network via an affiliate in the US since at least March. Initially called Madcat and now branded […]
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Tinder, Netflix and Tencent lead consumer spending on non-gaming apps in 2019
Tinder, Netflix Inc. and Tencent Holdings Ltd. took the top three spots in App Annie’s 2019 ranking of consumer spending on non-gaming apps, underlining the growing importance of subscription services for generating revenue. Games offering in-app purchases of virtual currency and upgrades, commonly called microtransactions, continued to lead overall rankings, […]