Tencent Holding company owns a number of Tecent name brand internet and computer companies principally engaged in the value-added services markets online and in telecom.
By comparison, Tencent is an entrepreneurial company that probably has few if any former MIIT officials in its ranks.
He also found time to pay a call on Tencent, the Shenzhen-based Internet company that boasts over 700 million users of its QQ social-media platforms.
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In addition to Ma, several others have become billionaires, including Robin Li of search giant Baidu and Ma Huateng of Tencent, an entertainment and Web portal company.
He notes that TenCent was a logical partner for the company on Call of Duty, given that they already host a similar military combat game called CrossFire which lately has been running at 4 million peak concurrent users a day, and tens of millions of players overall.
Tencent is speeding up its effort to introduce the Chinese company's WeChat mobile app to developed countries, including the U.S., CEO Pony Ma said.
It could even be a company from outside the U.S. such as Tencent, he said.
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In the first quarter, online gaming provided more than half of Tencent's overall revenue, compared with 6% for the company's advertising business.
"Not only does Tencent have a cash cow in its strong gaming business, but the company is also best-positioned in high-potential markets like social media and mobile Internet services, " said Jefferies analyst Cynthia Meng, who has a buy rating on Tencent's stock.
Many foreigners who were parachuted into the company at its launch by Groupon (most of whom were from Germany) are no longer with the company after a lot of friction with the JV partners from Tencent about how to make the venture work in China.
The big losers in this fight are obviously the users themselves as well as Tencent, since the majority of Chinese netizens have sided with Qihoo against the company, which was not exactly known for its popularity in the world of Chinese IT.
And China's internet start-ups, such as Tencent (a social-networking service) and Alibaba (an e-commerce company), have had a genius for copying Western business models and adapting them to the Chinese market.
In May Tencent, another online giant, snapped up 16% of eLong, a Chinese online travel company that is part-owned by Expedia.
The company is likely to seek further developments in game franchises across multiple platforms, an area that Tencent has scarcely touched, according to the paper.
Tencent did not disclose how much it paid for the shares on Tuesday, but industry rumors say the company bid ahead of Warner Brothers to acquire the position.
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