MEHOW BIG IS TENCENT?

The Silent Tech Giant Taking Over the World

- Sandesh Bhosle

When it comes to tech giants, some names instantly come to mind - Google, Apple, Amazon. However, one company, Tencent, is perhaps lesser-known yet holds a level of influence that rivals them all. Founded in China, Tencent has grown into a powerhouse that touches nearly every corner of the tech industry, from social media and gaming to cloud computing and beyond. Tencent began from a little-known startup in the late ‘90s to a globally influential entity worth hundreds of billions. Let’s get into the roots, growth, and impact of one of the largest – and perhaps most under-the-radar – tech titans the world has ever seen.

The Beginnings

Tencent’s journey began in 1998, a year when the internet was barely on China’s radar. Ma Huateng (known as Pony Ma) and Zhang Zhidong, former classmates with a shared dream, started the company with a single idea - to bring real-time communication to Chinese users. Their vision was inspired by ICQ, an Israeli-developed instant messaging service that had taken off in the West. Driven by this concept, they launched their own messaging app called “OICQ” (Open ICQ), which was free and easy to use.

In those early days, they faced steep competition and even near-bankruptcy, struggling to keep their fledgling app alive. Yet OICQ, with its user-friendly design, struck a chord with Chinese users. Within months, it had gained a loyal following, providing Tencent with the traction it needed to survive and grow. By the early 2000s, OICQ had evolved into QQ, an upgraded platform that would become China’s most popular messaging service. This transformation marked Tencent’s first big breakthrough, allowing it to diversify and experiment with revenue models, something that would become a hallmark of Tencent’s business strategy.

Early Struggles and Triumphs