What is the shady side of Tencent?

Tencent and online censorship

Privacy advocates have found that Tencent has shared the conversations of users of their applications with the Chinese government. The company has also used artificial intelligence to identify and block user-created images created to get around government censorship by Chinese citizens.

What went wrong with Tencent?

Tencent said Monday it had fired more than a hundred employees for violating company policies. Those accused were found to have embezzled company funds and accepting bribes, it added, with a number referred to police and some found guilty in court.

What is Tencent known for?

Tencent Holdings Ltd.

(Chinese: 腾讯; pinyin: Téngxùn) is a Chinese multinational technology and entertainment conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue.

What are the challenges of Tencent company?

Tencent has been experiencing challenges in recent times on multiple levels. Policy changes, regulations, government scrutiny, economic slowdown, zero-COVID strategy, and changing consumer behavior are just a few. Still, the company has remained very opportunistic and strategic about its operations.

Who are the major shareholders of Tencent?

The largest shareholders that own Tencent Holdings Limited are investment group Prosus, which owns 29% share, followed by founder and CEO Ma Huateng (8%). Main shareholder Prosus is a Netherland-listed company controlled by Naspers, the South African-based holding company.

Tencent: One of the Shadiest Gaming Tech Giants

How much of Tencent is owned by China?

The gaming and social networking behemoth and the state-owned carrier have received regulatory approval to set up a joint venture, according to a government announcement. Following the transaction, Tencent and China Unicom will respectively own 42% and 47% of the firm.

Why is Tencent buying everything?

Tencent is allegedly shifting its M&A strategy to "aggressively" focus on "buying majority stakes mainly in overseas gaming companies." As reported by Reuters, this change is in part due to Tencent's attempt to battle the slowing growth in its home country of China.

Is Tencent a shady company?

Privacy advocates have found that Tencent has shared the conversations of users of their applications with the Chinese government. The company has also used artificial intelligence to identify and block user-created images created to get around government censorship by Chinese citizens.

Why did China suspend Tencent?

GUANGZHOU -- China's Tencent Holdings and other major gaming vendors in the country are shutting down their games nationwide on Tuesday in an apparent tribute to late President Jiang Zemin, amid Beijing's tightening oversight of the gaming industry.

Why is Tencent losing value?

Shares of the online gaming company have tumbled 64% in Hong Kong since a January 2021 peak, wiping $623 billion off its market value. That's more than any other firm globally, driven by concerns about Tencent's outlook after Beijing's yearlong regulatory crackdown.

Does Tencent own Tesla?

Tencent, known as one of the world's largest gaming and social media firms, invested in Tesla in 2017, taking a 5% stake for around $1.78 billion.

Is TikTok owned by Tencent?

Douyin, which like TikTok is owned by ByteDance, said in a statement it is now authorised to use Tencent Video content and rules about how secondary content can be generated have been clarified.

Does Tencent own Spotify?

In December 2018, the company announced an IPO with the total value of shares around $1.23 billion, which includes 82 million ADS and 164 million regular shares priced around $13 - $15. As of 2022, 8.62% of Tencent Music class A ordinary shares are owned by Spotify.

Is Tencent a good company?

Tencent Reviews FAQs

Is Tencent a good company to work for? Tencent has an overall rating of 4.1 out of 5, based on over 2,056 reviews left anonymously by employees. 77% of employees would recommend working at Tencent to a friend and 64% have a positive outlook for the business.

How does Tencent make so much money?

The Multi-Faceted One: Tencent

An increasingly important section for Tencent are payment services (included in 'Other' with 24.9%), which mostly refers to fees for online transactions through WeChat Pay. Other than that, Tencent makes money with digital ads on its media platforms and messengers (18.5%).

Does Tencent own Activision?

Tencent has a very solid foundation for its global games operations, thanks to ownership of Riot Games, Funcom, Sharkmob, the Leyou Technologies group (including Digital Extremes and Splash Damage), and stakes ranging from 4% to 84% in Remedy, Epic Games, Activision Blizzard, Ubisoft, Krafton, Supercell, Frontier ...

Why is Tencent banned?

So, if you want to go by the official word, then “national security” is the motive behind the ban on Tencent and ByteDance services. The real reason is likely more political than self-defense, bearing in mind Trump's history of sinophobic rhetoric.

Does China still ban Google?

Google's Internet mail service, Gmail, and Chrome and Google-based search inquiries have not been available to mainland China users since 2014.

How much did Tencent get fined by the Chinese?

Tencent was fined a combined 6 million yuan ($896,245) over 12 acquisitions, while Alibaba's subsidiaries were fined 2.5 million yuan for not reporting five deals, the statement showed. SAMR issued penalties related to 28 deals in total.

Should I hold Tencent or sell?

Tencent has received a consensus rating of Hold. The company's average rating score is 2.20, and is based on 2 buy ratings, 2 hold ratings, and 1 sell rating.

How much stake does Tencent have in Tesla?

*Tesla Inc TSLA. O: Tencent bought 5% of the electric vehicle maker for $1.78 billion in 2017. Tesla Chief Executive Elon Musk has called Tencent "an investor and adviser to Tesla".

Who is buying Tencent?

China's government is buying Alibaba and Tencent shares that give the Communist Party special rights over certain business decisions, report says. The letter F. An envelope.

Why is Alibaba better than Tencent?

Business Focus

One difference between Alibaba and Tencent is the percentage of their revenue coming from foreign (non-Chinese) markets. Only 7% of Alibaba's revenue comes from international sources, in Tencent's case it's 8%.

Does Tencent own Ubisoft?

The Chinese conglomerate's investment into Ubisoft included 200 million euros in shares and 100 million euros in capital. For a total of nearly $300 million, Tencent has also secured a 49.9 percent economic stake and 5 percent voting rights in Guillemot Brothers Limited.

Is Bungie owned by Tencent?

Bungie, Inc. is an American video game company based in Bellevue, Washington. It is a studio owned by Sony Interactive Entertainment. The company was established in May 1991 by Alex Seropian, who later brought in programmer Jason Jones after publishing Jones' game Minotaur: The Labyrinths of Crete.