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Tencent

Prosus, Tencent made billions of dollars in Swiggy IPO

Prosus, Tencent made billions of dollars in Swiggy IPO

Wed, Nov 13, 2024

According to the company's draft red herring prospectus (DRHP), Prosus invested nearly Rs 9,055 crore ($1.07 billion) in the online food platform and made Rs 26,927 crore ($3.2 billion) in IPO, thus netting a $2.12 billion profit from its investment.

Tencent sells PB Fintech's shares for Rs 415 crore

Tencent sells PB Fintech's shares for Rs 415 crore

Thu, Jun 06, 2024

Shenzhen-based Tencent through its affiliate Tencent Cloud Europe BV offloaded the shares of PB Fintech on the National Stock Exchange (NSE).

$46 billion wiped off Tencent's market cap after China's draft rule to curb gaming

$46 billion wiped off Tencent's market cap after China's draft rule to curb gaming

Sat, Dec 23, 2023

The draft rules would require developers to limit the amount of money players can spend in-game.The rules would also ban incentives such as daily sign-in rewards as well as large tips to game streamers.

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Governor of US' Virginia bans Chinese-owned apps TikTok and WeChat from state computers, calls them 'threat to national security'

Governor of US' Virginia bans Chinese-owned apps TikTok and WeChat from state computers, calls them 'threat to national security'

Sat, Dec 17, 2022

Virginia Governor Glenn Youngkin banned the use of several Chinese-owned apps, including TikTok and WeChat, on state government devices and wireless networks on Friday, calling them a threat to national security.

Tencent buys stake worth USD 264 million in Flipkart from co-founder Binny Bansal

Tencent buys stake worth USD 264 million in Flipkart from co-founder Binny Bansal

Mon, Jun 13, 2022

The transaction was completed on October 26, 2021 and was shared with the government authorities at the beginning of the current financial year.

US adds Alibaba, Tencent to list of businesses that trade counterfeit goods

US adds Alibaba, Tencent to list of businesses that trade counterfeit goods

Fri, Feb 18, 2022

The US has added sites operated by Chinese technology giants Alibaba and Tencent to its "Notorious Markets List" of businesses it believes are involved with trading counterfeit goods, the BBC reported.

Tencent shareholders get $16.4 billion windfall as JD.com stake given as dividend

Tencent shareholders get $16.4 billion windfall as JD.com stake given as dividend

Thu, Dec 23, 2021

Tencent said on Thursday it will distribute HK$127.69 billion ($16.37 billion) worth of its JD.com stake to shareholders, slashing its holding in China`s second-biggest e-commerce company to 2.3% from around 17% now and losing its spot as JD.com`s biggest shareholder to Walmart.

After MiPay, this UPI payment app set to enter Indian market

After MiPay, this UPI payment app set to enter Indian market

Fri, Mar 22, 2019

Chinese multinational Tencent-owned WeChat is soon launching a UPI application for payments.

Tencent, Kakao among shortlisted bidders for S.Korean gaming firm Nexon: Korea Economic Daily

Tencent, Kakao among shortlisted bidders for S.Korean gaming firm Nexon: Korea Economic Daily

Mon, Mar 04, 2019

South Korean publisher Netmarble Corp was not offered to join the preliminary bidding, but formed a consortium with MBK Partners to bid for Nexon, according to the report which cited investment banking sources.

Tencent loses $20 billion in value after China fights myopia with gaming curbs

Tencent loses $20 billion in value after China fights myopia with gaming curbs

Fri, Aug 31, 2018

The curbs are the latest challenge for Tencent, China`s largest gaming and social media firm, which earlier this month blamed a freeze on new game approvals for the technology giant`s first quarterly profit fall in nearly 13 years.

This amazing thing happened to WeChat app; here is where big boost came from

This amazing thing happened to WeChat app; here is where big boost came from

Tue, Mar 06, 2018

The all-in-one app, known as Weixin in China, is a daily necessity for most Chinese, bringing together messaging, social media, mobile payment, games, news and other services

Google opens AI centre in China as competition heats up

Wed, Dec 13, 2017

Artificial intelligence, especially machine learning, has been an area of intense focus for American tech stalwarts Google, Microsoft and Facebook, and their Chinese competitors Alibaba, Tencent and Baidu as they bid to master what many consider is the future of computing.

Global Markets: Tech tremors spread to financials to spoil global rally

Global Markets: Tech tremors spread to financials to spoil global rally

Wed, Dec 06, 2017

Investors concerned about high valuations took the top off the tech sector, where stocks such as Facebook, Alphabet, Tencent and Alibaba have reached prices some describe as "eye-watering".

Ola Cabs may receive $2 billion in fresh round of funding from SoftBank, Tencent

Ola Cabs may receive $2 billion in fresh round of funding from SoftBank, Tencent

Tue, Oct 03, 2017

Once this round of funding goes through it is expected to help Ola go up against global giant Uber.

Tencent to take about 5% stake in investment bank CICC for $367 million

Tencent to take about 5% stake in investment bank CICC for $367 million

Thu, Sep 21, 2017

Tencent Mobility, a unit of Chinese internet company Tencent, will subscribe for 207.5 million new Hong Kong-listed shares of CICC at a price of HK$13.80 per share, representing an 11% discount to the stock`s Wednesday closing price.

Flipkart now valued at $11.6 billion after Softbank's $2.4 billion

Flipkart now valued at $11.6 billion after Softbank's $2.4 billion

Thu, Aug 10, 2017

SoftBank Vision Fund is now the largest shareholder in Flipkart after its latest round of funding.

Japan's SoftBank plans to increase stakes in India's e-commerce biz; looks to play consolidator in online shake-up

Japan's SoftBank plans to increase stakes in India's e-commerce biz; looks to play consolidator in online shake-up

Sun, May 07, 2017

Japan's SoftBank is seeking to secure a piece of India`s industry leaders in everything from payment systems to online shopping and groceries, in a series of deals that would shake up the $65 billion sector, cited the sources with direct knowledge of the matter.

To compete with Uber, Ola raises over Rs 1,600 crore in fresh funding from SoftBank

To compete with Uber, Ola raises over Rs 1,600 crore in fresh funding from SoftBank

Fri, Apr 14, 2017

Ola has raised about Rs 1,675 crore in a fresh funding round from Japan's SoftBank in order to compete with its rival taxi aggregator Uber in India.

Online healthcare platform Practo raises $55 million in fresh funding

Online healthcare platform Practo raises $55 million in fresh funding

Tue, Jan 17, 2017

Indian online healthcare platform Practo said on Tuesday it had raised $55 million (nearly Rs 365.90 crore) from new and existing investors in a fresh round of funding led by China`s Tencent Holdings.

MakeMyTrip expands in fast-growing market with ibibo buy

MakeMyTrip expands in fast-growing market with ibibo buy

Wed, Oct 19, 2016

India`s oldest travel website operator MakeMyTrip Ltd said it would buy rival ibibo Group to create the biggest player in the fast-growing flight, hotel and bus bookings market in the country.

Kavin Mittal's Hike Messenger raises $175 million; now a 'unicorn'

Kavin Mittal's Hike Messenger raises $175 million; now a 'unicorn'

Tue, Aug 16, 2016

Martin Lau, President of Tencent on investment said, “With our investment, Hike will be able to leverage our deep domain expertise in the messaging platform space to provide more value to its users in India.”

Jack Ma, others agree $4.4 billion deal for Caesars online games

Jack Ma, others agree $4.4 billion deal for Caesars online games

Sun, Jul 31, 2016

Giant is one of China`s biggest gaming companies, with nearly 50 million monthly active users and several top-grossing mobile titles. It was taken private in 2014 for $3 billion by a group of buyers that included company Chairman Yuzhu Shi and private equity firm Baring Private Equity Asia Ltd. It is now valued at more than $12 billion.

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