Tencent’s announcement last month that its popular mobile social network, WeChat, has reached a milestone of 500 million monthly active users didn’t only grab people’s attention because of the four-year-old app’s impressive growth figures. Within both emerging and developed markets, WeChat has become a symbol of a mobile social network’s ability to monetise by providing a space where users and brands can connect. Continue reading
The Cape Town headquartered multinational media company, Naspers, has spent the last decade and a half establishing operations in fast-growing regions such as China, Latin America, Central and Eastern Europe, Russia, India, Southeast Asia, the Middle East and Africa. But it was perhaps only last month (when the value of the group’s shares reached a record high following the announcement of Tencent Holdings’ financial results) that the extent of its success in emerging markets – and China in particular – hit home.
When Naspers acquired a 46.5 percent interest in the mostly loss-making, Chinese-owned Tencent Holdings in 2001, it seemed like a gamble, to say the least. Fast-forward to the present, and Tencent is reporting fourth quarter profits of $973 million. Continue reading