Tencent | Common News Update

Based in Shenzhen and founded in 1998, the Chinese company Tencent enjoys huge popularity - and profits - in China.Its cute penguin symbol is as familiar to Chinese children as the McDonalds "golden arches" logo is to children in the West, says the BBC's China media analyst Kerry Allen."Tencent is thought of as so much more than just a Chinese company in China - it has gained a reputation as a family-friendly organisation that connects families, friends and work colleagues in a digital age," she said."It has a business model that other Chinese companies can only envy - it can reach an audience of, basically, everyone."But many people in the West have never heard of it. That doesn't mean it isn't present in our everyday lives, th...

Indian music streaming service Gaana has raised $ 115 million in a funding round led by Chinese tech giant Tencent.Gaana, a competitor to Spotify, said Wednesday it would look to use the raised capital to invest in artificial intelligence to personalize its music platform and develop its paid-user subscription product.The firm was established in 2010 by Indian tech incubator Time Internet, which has also backed the funding. Gaana did not specify how much money was invested by Tencent and Time Internet.Tencent is Asia's most valuable company, with a market value of almost $ 525 billion. It was the first Asian firm to pass the $ 500 billion mark, an achievement it shares with Silicon Valley titans Apple and Facebook.Gaana said it passed 60 million monthly active users in December. Spotify's ...

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What is Tencent?

An Indian rival to Spotify just raised $115 million from Tencent, others