tencent | Pixr8 News

15Sep By PriyankaNo Comments

CHINA

Tencent to Dominate China’s eSports Market Following $10 Billion Merger

eSports is one of the fastest-growing markets in the world. The most modern of entertainments, it has turned video gaming into a viewer sport one with a vast global audience. Due to its extensive size and reach, it has lately become a point of interest for tech companies from every corner of the globe. While Amazon-owned Twitch is currently the world’s leading eSports platform, its crown is not secure, and Tencent and its subsidiaries have recently made some major moves to remove Twitch from its leading position most particularly, in Tencent's home country, China. A Lucrative Industry For those who have followed eSports in recent years, it comes as no surprise to discover that this unique form of entertainment has a huge international audience. Especially popular among the yo...

Tencent Games Launched New Games and Partnership

29Jun By AdityaNo Comments

CHINA

Tencent Games Launched New Games and Partnership

SHENZHEN, China, June 29, 2020-- Tencent Games, the world-leading game development, publishing, and operation platform, unveiled a new chapter in innovative gameplay and quality games with a roadmap of more than 40 game product updates, including new self-developed and licensed games with fan favorite intellectual property (IP). The announcement made at the Tencent Games Annual Conference held online this year, demonstrates Tencent's leadership role in adapting famous global franchises for cross-platform games. The event, with the theme "Spark More!", featured the introduction of Tencent Games' new self-developed games and collaborations with world-renowned IP owners, global game publishers and developers to offer new and exciting gaming experiences to players. Te...

Tencent-backed Yuanfudao near to close new Fundraising at $7.5 billion Valuation

20Mar By reutersNo Comments

FUNDING

Tencent-backed Yuanfudao near to close new Fundraising at $7.5 billion Valuation

BEIJING, 20/03/2020 -- Chinese online education platform Yuanfudao, which is backed by tech giant Tencent Holdings, is close to completing a financing round that would value it at around $7.5 billion, two people familiar with the matter said. The talks make Yuanfudao, which was founded in 2012 and offers online courses and homework plans to students, a rare bright spot of activity in the deal-making world, which has largely dried up as the coronavirus pandemic has suspended most travel and business meetings. Yuanfudao’s focus on online learning puts it in one of the few sectors that have seen a surge in investor interest as the coronavirus and school closures force students in China to attend classes via the internet. The round of financing is led by Tencent Holdings and private ...

How Tencent App Creates Panic Amongst Chinese Users

16Aug By PriyankaNo Comments

CHINA

How Tencent App Creates Panic Amongst Chinese Users

Chinese internet company Tencent has been forced to apologise after its video team reported that a typhoon had wiped out the entire population of a province in east China that is home to nearly 100 million people. Typhoon Lekima hit the Chinese provinces of Zhejiang, Shandong and Anhui over the weekend, forcing more than two million residents to flee. China's official news agency Xinhua said at least 49 people were killed with dozens still missing. But Tencent Video sent a news alert to its subscribers on Monday saying the typhoon had "killed nearly everyone" in the eastern province of Shandong and seven people were missing. The alert cited the provincial emergency management department as the news source. Shandong is one of China's most populous provinces, with 99 million ...

Tencent raises $6 bn funding through bond sales

4Apr By AnkitaNo Comments

CHINA

Tencent raises $6 bn funding through bond sales

Shenzhen-based internet giant Tencent raises USD 6 billion in the bond sale. This is one of the biggest money collection through bond sales in Asia this year. Tencent confirmed this news in a filing to the Hong Kong stock exchange on Thursday with the biggest 10-year tranche of USD 3 billion priced at 3.975 percent. The social media giant in china also sold a five-year tranche of USD 2 billion in fixed and floating rate, USD 500 million in seven-year notes, and USD 500 million in 30-year notes. The dollar bond offering marks the biggest sale in Asia excluding Japan so far this year, according to data compiled by Bloomberg News, when sources tipped the offering to raise around USD 5 billion earlier this week. "The market is keenly anticipating Tencent's jumbo offering given the...

Reddit Raising Funds from Tencent, Valuation could soar up to $3 Billion

6Feb By NitishNo Comments

FUNDING

Reddit Raising Funds from Tencent, Valuation could soar up to $3 Billion

USA based social news aggregation and discussion website Reddit is raising funds between $150 to $300 million from Tencent, as per the news reported by Techcrunch. Chinese tech giant Tencent is leading the Series D round at a $2.7 billion pre-money valuation and the post-money valuation could reach close to $3 billion. Reddit is famous between internet users for its AMA, link sharing news etc. They have 330 million monthly active users and 150,000 Subreddits. Reddit Numbers Having 350 employees team, Reddit reports that its video views touched 1.4 billion views per month and the revenue reach up to $100 million. Reddit also has a 22 percent increase in engagement and 30 percent rise in total views in 2018. The latest funding round by Chinese giant Tencent will help...

10Oct By Gauri SinghNo Comments

CHINA

China’s Tencent Partners with a UK Firm to Boost AI in Health Space

China’s Tencent Holdings is tying up with a technology firm from the United Kingdom called Medopad Ltd to use artificial intelligence for the purpose of improving Parkinson's disease treatment. The company is collaborating with Medopad to develop a system to remotely monitor patients with severe movement disorder. The company said that the basic goal is to allow doctors to set drug doses and modify care without patients having to go to the hospital. Healthcare is increasingly "not only about what happens in the clinic, but what happens in the real world", Wei Fan, Tencent's executive director for medical AI research said. "The reason we want to work with Medopad is they're experts in monitoring patients." Founded in 2011, Medopad has received funding from German pharmaceuticals firm B...

27Sep By Gauri SinghNo Comments

CHINA

WeChat Pay HK Expands Payment Services to China

Internet giant Tencent has got into an association with China’s largest payment provider China UnionPay and its subsidiary UnionPay International for the purpose of offering cross-border mobile payment services for Hong Kong residents. This will also allow the users to use the Hong Kong version of WeChat Pay on the mainland. The major objective behind this step is to further promote integration between Hong Kong and the Chinese mainland. This is being done to make life and work easier for Hong Kong people in the Guangdong-Hong Kong-Macao Greater Bay Area. The users of WeChat Pay HK will be able to enjoy a range of cross-border mobile payment services on the mainland such as visiting restaurants, booking train tickets and hailing cars from October. "The cross-border mobile payment wi...

7Aug By Gauri SinghNo Comments

CHINA

Alibaba to Merge China’s Food Delivery Units To Surpass Meituan

China’s largest conglomerate Alibaba Group is planning to bring together and merge its food delivery units. The units that are getting merged are food delivery platform Ele.me and food and lifestyle services firm Koubei. The purpose behind this move is to raise funds for the combined business and also to intensify the battle with Tencent-backed Meituan Dianping which is the company’s rival. With this merger, Alibaba Group is expecting to raise between $3 billion and $5 billion for the combined entity, and according to the sources, the entity could be valued at up to $25 billion. "Alibaba and Meituan are the two main companies that can offer comprehensive O2O services," said Mo Jia, a Shanghai-based research analyst with technology consultancy Canalys. "Alibaba's three units are complem...

6Aug By Gauri SinghNo Comments

CHINA

Google Plans to Launch Cloud Services in China with Tencent & Others

The largest technology company Google is in advanced talks with Tencent Holdings Ltd, Inspur Group and other Chinese firms for the purpose of offering its cloud services in China as reported by people familiar with the development. The talks about this matter started in the early months of 2018 and the technology giant reduced partnership candidates to three companies in March. However, it is certainly not clear whether the plans will be a success or not in the wake of increasing trade conflicts between China and the United States. Google had already taken an exit from China's search engine market in 2010, but now it has been actively finding out methods to re-enter China, where many of its products are blocked by regulators. Through the local partnership, Google has an objecti...

OYO Eyeing Funds from Tencent, May Raise the Valuation to $2 Billion

26Jul By Gauri SinghNo Comments

FUNDING

OYO Eyeing Funds from Tencent, May Raise the Valuation to $2 Billion

Tencent, one of the leading internet players of China is eyeing to lead a fresh funding round and back hotel chain OYO with $300-500 million. According to the reports, this particular funding round will likely value the company at $2 billion which is almost double the valuation of $850 million from SoftBank's Vision Fund. "The company is engaged with Tencent, and a term sheet is likely There’s a bunch of other investors also in talks, but those are preliminary at the moment. The fundraise is largely to grow the China business," a person familiar to the matter said. Apart from Tencent, the Gurugram-based hotel chain has also talked with other Chinese companies and a few financial investors to participate in the funding round. If the funding is confirmed, it will be the first-ever fu...

Top 10 Most Valuable Brands in The World Right Now

29May By Lavina TolaniNo Comments

CHINA

Top 10 Most Valuable Brands in The World Right Now

A new list talking of world's most valuable brands has been released and dragon country China has bagged top spots for the very first time. Ranked at No. 9, Jack Ma's Alibaba has joined along with Chinese Tech Giant Tencent alongside behemoth stalwarts such as Google and Apple. Alibaba has witnessed its brand value go double to $113 billion as the e-commerce firm has diversified its portfolio landing into mobile payments and cloud computing. Meanwhile, Tencent too has managed to secure a place in BrandZ top 10 ranking in 2017 and has gone from strength to strength over the past year. With a brand value of 179 billion, up by 65% compared to the company holds the 5th place behind giants Google, Apple, Amazon (AMZN) and Microsoft (MSFT) but above Facebook (FB). The BrandZ ranking ...