Tencent’s virtual goods revenues keep growing during recession
Asian web companies have been making millions from virtual goods for years — and that story doesn’t seem to be changing despite the current worldwide recession. Tencent , a publicly-traded Chinese web conglomerate comprised of an instant message client, a social network, and various other services, says it made $342.3 million in virtual goods in the first quarter of this year.
The numbers seem to indicate the resiliency of virtual goods — such as virtual clothing… Continue Reading
The world’s most lucrative social network? China’s Tencent beats $1 billion revenue mark
A billion dollars in revenue in a single year? Not even MySpace, currently the most profitable social network outside China, has managed to accomplish that. But publicly traded Tencent, a leading Chinese web portal, instant message client, social network, game developer and more has done it, and largely through the use of virtual goods and other “Internet valued-added services,” like avatars, dating services, online memberships, music and community sites.
Overall, the so-called IVAS revenue category contributed… Continue Reading
Qzone’s instant message integration worth a closer look
Earlier this month, Chinese social network Qzone, owned by portal company Tencent, released internal statistics showing that it had more than 200 million monthly active users in January. These numbers put it in the running for the title of largest social network in the world, facing international competitors like Facebook and MySpace. What has been the site’s secret to growth? A China-based VentureBeat reader has an intriguing explanation of how the company’s QQ instant message… Continue Reading
Chinese social network Qzone: The worldwide market leader?
Neither Facebook nor MySpace nor other international social networks can claim to be the single largest one in the world, if a recent press release by leading Chinese social network Qzone is to be believed. The site, part of the larger Tencent internet portal, claims to have had more than 200 million monthly active users in January, according to China Web2.0 Review (a translated version of the release is also available at the Web2Asia blog)…. Continue Reading