Tencent, the Chinese tech giant, has become the most valuable company in Asia, and one of the top 10 in the world by market capitalization, reports Fortune. The company takes the title from state-owned China Mobile.
Tencent is one of the best-known tech companies in the world. It owns popular platforms like QQ, a gaming platform, and WeChat social networks. The company also has online ad business, offers digital payment service, cloud storage, and entertainment.
Technology companies have contributed to creating an incredible amount of wealth in the past few decades. Today, tech companies are taking over as the most valuable companies across the world over oil and other big conglomerates. A report published recently shows how tech giants of the world have easily replaced big oil companies as the world’s most valuable publicly traded companies. Tencent taking over Asia as the most valuable company is just another extension of that growing trend.