+91 70111 97831
  • About us
    • Data Analyst Team
    • Magazines Sections
    • Editorial Team
  • Advertise with us!
  • Business review
  • Guest writers
    • Guest Contribution
  • Subscription
  • Career
  • Testimonials
  • Contact Us
Tuesday, May 30, 2023
International Magazine
Business Connect  | Best Business magazine In India
Upcoming Event
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
Business Connect  | Best Business magazine In India
No Result
View All Result
  • About us
  • Guest writers
  • Business review
  • Advertise with us!
  • Subscription
  • Privacy
  • Why us
Home Blog

Ma Huateng

The man behind Tencent, a world's leading Internet and gaming company

admin by admin
April 21, 2023
in Blog
Ma Huateng
Share on FacebookShare on Twitter

Ma Huateng

The man behind Tencent, a world’s leading Internet and gaming company

Introduction

Ma Huateng is a Chinese business magnate who is the founder and CEO of one of the giant internet & technology companies called Tencent, in the world, which is also known as the world’s largest gaming company. Tencent operates the messaging app WeChat and QQ.com, one has over 1.2 billion monthly users, and the other is known as the fourth most visited web portal globally.

The company also owns a large of China’s music market, with 841 million active users. With this, his net worth is now $36.4B, which makes him the fourth richest person in China and the 34th richest person in the world as of now (2022). Although his net worth has declined since 2018. Apart from this, he is also known for great philanthropy. He donated $2 billion worth of shares to his charitable foundation.

Early life and education

Ma Huateng (Pony Ma) was born on Oct 29, 1971 in Shantou, Guangdong, China. The entrepreneur had a pretty rough life, just like other lower middle class have. His father “Ma Chenshu” had to work hard to provide everything they needed. After completing higher secondary education, Ma Huateng enrolled at Shenzhen University and graduated BA in computer science.

Career

After he graduated from college, He started his career with China motion Telcom Development, a supplier of telecommunication and product, where he was not making more than $176. That wasn’t good enough at all. The first job is always difficult as we can see even the billionaire has had a rough time. A few years went by, and he joined forces with four of his old college classmates to co-found Tencent.  They created an AOL Instant Messager-like server called QQ, which connected the early adopters of desktop computers and mobile phones. It quickly became China’s largest instant-messaging platform.

Soon Tencent started making money from ads and monthly premium subscriptions. By 2001, the company had raised over $32 million in investments, and, in 2004, it went public in Hong Kong. Then, in 2011, Tencent launched the mobile messaging app WeChat as a separate entity from QQ.WeChat is often compared to Facebook because of its ubiquity in China, where Facebook is banned along with messaging app WhatsApp. But WeChat’s “Super app” mode also goes even further than Facebook for its over 1 billion monthly active users, allowing them to text, voice, and video call, play games and send money, shop, pay bills, and even engage in online dating.

How did it become successful?

It is challenging to come up with new products or business ideas nowadays with giants such as Facebook, L’Oréal General Motors, or LVMH. You can’t really take a big piece of the pie because it’s already divided up. Well, it isn not the same in China. When you are targeting your business in such a large market, there is still hope, from such hope Ma Huateng got a benefit when he founded Tencent (1998). The company has different products in its portfolio, and China is being ruled by the Communist party favor local products instead of foreign ones.

When he launched WeChat and the video game “Honor King” everyone started using them because they were equivalent to Western apps. Why? Because Ma Huateng made a similar copy of other social media and messaging apps. Many general claims that Tencent made a series of investments in western companies, like Snapchat, Tesla, and Spotify, to watch their development move.

“Tencent has always stayed in tune with ever-advancing technology and has made sure that China never lags behind its western counterparts in the field.” They stated. It was launched in 2011, and since then, they managed to engage over one billion active users. China has a population of 1.4Billion citizens. So, the app is pretty popular there, to say the least.

The app is free to use and available in 20 different languages. It is a very diverse and complex app available on multiple platforms and capable of generating billions of dollars in revenue. Although they had some problems with privacy censorship and social responsibility over the years. It is still popular in Asia and widely used.

Ma Huateng controversies and arbitration

When you do business with China, you must abide by its rules. For instance, if you have a browser like google, you need to apply the censorship rules of China and block certain websites and news because these are the rules. And if you don’t follow, you get kicked out of their market. Ma Huateng is involved in politics and the community. He cares a lot about his clients and users, so if the government asks him to censor or forbid something, he will do it.

RelatedPosts

What is a B2B eCommerce Marketplace?

Chatbot

Behavioral Finance: Influencing Trading and Investment Choices

Decoding China and Dubai’s Artificial Rain: The Secret of Cloud Seeding

Short but Powerful: The Top 10 Mini Web Series You Can’t Miss

One of the most controversial favors he made was when the government said the game Tencent released was too addictive for teenagers. So, they immediately limited game time for teenagers to 3 hours and banned children from logging in after 9 P.M.

As we mentioned before, Tencent has also copied some other products. As a result, he had to pay the price for it 20 years ago. AOL acquired ICQ, an Israeli-based product, to find out later that Tencent had copied their product with QI CQ, so they immediately filed a lawsuit for copyright. Later, Ma Huateng rebranded copied products to QQ.

Philanthropy

There are very few billionaires who pay as much as Ma Huateng did. He donated $2 billion worth of shares to his charitable foundation toward development in the medical, educational, and environmental sectors in China, and causes related to those fields. His donation is the second biggest donation in the history of China. There are more billionaires in China than in America, but if you look at their donations towards humanity, they don’t give much money to charity as Americans. But Ma Huateng did previously by donating $3billion to earthquake victims and other thousands of dollars for various scholarships.

Must Read:-

  • Top 10 Young Entrepreneurs in India 2022
  • Upcoming Indian Web Series for 2022-23
  • Top 10 Hospitals in India 2022
  • Top 10 richest player of the world 2021
  • Top 10 highest-paid Indian Athletes 2021
  • Top 10 highest paid CEO in the World
  • Top 10 richest person of India
  • Top 10 Highest Paid CEOs of India
  • List Of Most Followed Facebook Pages in 2022
  • The Success Story of Jeff Bezos
  • Success Story Of Elon Musk
  • Top 10 Business Magazine In India
  • Top 10 Business Newspaper In India
  • Top 10 richest billionaires in the world 2021
  • Upcoming English Web Series in 2021

 

Previous Post

Tata IPL 2022, GT vs MI: Playing11, pitch report, prediction, and more

Next Post

AIT GLOBAL INDIA

admin

admin

Admin is a Digital Marketing Executive at Business Connect Magazine. With his expertise in digital marketing strategies, leverages his knowledge to optimize online presence, enhance brand visibility, and engage with the target audience effectively.

Next Post
AIT GLOBAL INDIA

AIT GLOBAL INDIA

Business Connect Magazine Presents Global Business Summit

Business Connect Magazine Presents Global Business Summit

IPL 2022 double-header (PBKS vs RR and LSG vs KKR): Playing11, prediction, key stats, more

IPL 2022 double-header (PBKS vs RR and LSG vs KKR): Playing11, prediction, key stats, more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Upcomming event 2023

Business Connect magazine events

Recent News

Darla R Life Sciences and Innovations

Darla R Life Sciences and Innovations

May 30, 2023
Sowramana LLP

Sowramana LLP

May 30, 2023
Overloaded Bus Traveling from Amritsar to Katra Falls into Gorge, Leaving 10 Dead & 55 Injured

Overloaded Bus Traveling from Amritsar to Katra Falls into Gorge, Leaving 10 Dead & 55 Injured

May 30, 2023
CSK vs GT IPL 2023 Final Highlights: Sir Jadeja's Epic Finish Propels Chennai to 5th Trophy

CSK vs GT IPL 2023 Final Highlights: Sir Jadeja’s Epic Finish Propels Chennai to 5th Trophy

May 30, 2023
https://www.youtube.com/watch?v=5gPvV9iUPII
Business Connect magazine events | Business magazine

Recommended

Ways to Accelerate Your Business Growth in 2021| Expert Tips

4 Ways to Accelerate Your Business Growth in 2021

April 24, 2023
RB Tech Solutions - Business Connect

RB Tech Solutions

January 19, 2019

Most Popular

Darla R Life Sciences and Innovations
20 Most Promising Startups to Watch-2023

Darla R Life Sciences and Innovations

May 30, 2023
Sowramana LLP
20 Most Promising Startups to Watch-2023

Sowramana LLP

May 30, 2023
Overloaded Bus Traveling from Amritsar to Katra Falls into Gorge, Leaving 10 Dead & 55 Injured
News

Overloaded Bus Traveling from Amritsar to Katra Falls into Gorge, Leaving 10 Dead & 55 Injured

May 30, 2023

Business Connect is a business magazine whose name is derived from Business Community which connects entrepreneurs, executive officers and VCs. With a mission to have one of the highest readership figures of senior-level executives and investors in India, Business Connect brings its edition on monthly basis.

Follow Us

Recent News

Darla R Life Sciences and Innovations

Darla R Life Sciences and Innovations

May 30, 2023
Sowramana LLP

Sowramana LLP

May 30, 2023

Contact Information

Address: 807, DDA 2, District Centre, Janakpuri West, New Delhi-110058

Phone Number: +91-11-41065208, 42636209

Mail: abhishek@businessconnectindia.in / events@businessconnectindia.in

Contact to Get Feature as Guest Post : info@businessconnectindia.in

  • About us
  • Why us
  • Healthcare
  • Guest writers
  • Career

© 2020 All Rights Reserved by Business Connect India

No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials

© 2020 All Rights Reserved by Business Connect India

Need Help? Chat with us
Start a Conversation
Hi! Click one of our member below to chat on Whatsapp
The team typically replies in a few minutes.
Ashish Kumar
Sales & Support