A lot of people in the West are not familiar with this name, but Tencent, a Chinese company is a giant in the gaming world. As noted by Seeking Alpha, the tech firm’s market cap crossed $500 billion recently, making it bigger than EA, Ubisoft, Activision Blizzard and Take-Two combined.
In the past year, Tencent has doubled its stock price, and the latest market cap comes after it posted the third quarter, with profits up close to 70%. To put things in perspective, the company’s standing right now is more in line with behemoths like Apple, Facebook, Microsoft and Google’s Alphabet. With stakes in major players like Supercell, Epic Games and Riot Games, Tencent’s global presence continues to grow day by day. It also seems to have its eyes on the acquisition of Bluehole, the developers behind the battle-royale success, PUBG.
Recently, Tencent also announced a 12% stake in Snapchat. “The investment enables Tencent to explore cooperation opportunities with the company on mobile games publishing and newsfeed as well as to share its financial returns from the growth of its businesses and monetisation in the future,” They said.