Wechat (English Version)
Facebook is the biggest social network in the world but China’s internet juggernaut Tencent is on its way to No. 1, WorldofCEOs founder Steve Tappin wrote in a LinkedIn post on November 5th 2013. Tencent owns QQ which brings text, voice, and video messaging, online gaming and music, and share sites platform together, and Tencent also owns WeChat which is a mobile chat app. These will be Tencent’s points of differences and make increase competition power. Compare to Facebook, Tencent has another advantage. Tencent started its user base in China where has more than 1 billion three hundred million people. Besides, because of legal issues, Facebook is banned in main land China, but Tencent’s product can be used all over the world. However, in my opinion lower brand reputation in the world compare to Facebook is a huge obstacle for Tencent to be NO. 1. Facebook is well known in the world for decades, but Tencent is a national company which does not have good international user base and reputation as Facebook. In the other word, although Tencent and Facebook both have huge amount of users, Tencent’s user channel are much narrower. It will take a while for Tencent to build its brand in the world range. In addition since Tencent and Facebook’s real customer are advertisers not users, Facebook will make more profit and successful in next few years.
https://blogs.ubc.ca/zhao59/2013/11/17/chinas-tencent-about-to-overtake-facebook/