A contextual timeline representation of Tencent's business & product development evolution from origination (1998) to becoming the most valuable company in Asia (2015).

1. (1998 – 2015)
© Dario de Wet
Business & Product Development Timeline
Dario de Wet

2. 20031998 2000 2001 2002
- - US$ 0.01bn US$ 0.03bn US$ 0.09bn
REVENUE REVENUE REVENUE REVENUE REVENUE
Business Development
Product Development
2004
US$ 0.14bn
REVENUE
1999
-
REVENUE
Core vision: Create and
develop an internet IM
service for the Chinese
market.
Tencent partners with
China Mobile and China
Unicom.
– Becomes largest
service communications
provider in Asia.
June 2001: Financial break-even
(after 3-years of consecutive losses).
~20 MNO partnerships.
( MMS, IVRS, WAP, Mobile Games,
Information Subscription Services,
Ringtones, Matchmaking).
June 16, 2004 – Tencent goes
public on the Hong Kong Stock
Exchange (IPO on HKeX).
Focuses on item-based
revenue model.
Founded IPO
QQ 2000 – Introduces e-commerce.
QQ IM (QQ 99).
Mobile QQ (GSM 2-Way).
– First of its kind in
Eastern market,
revolutionising
commercial and personal
communication in Asia.
QQ2004 launched –
Maximising usability.
(Avatar, browser, email,
music, network sharing,
online gaming, RTX).
Tencent Messenger
launched (like ‘Slack’).
Real Time eXchange
(RTX) – Enterprise ‘IM’
(first to market).
Enter MMORPG gaming
space.
Test QQ.com portal.
QQ IM Launches
DOTCOM CRASH
QQ ERA
Note: All revenue figures are approximations, subject to currency fluctuations. © Dario de Wet

3. 2009
“Online lifestyle strategy” using platforms to cater
for four basic user needs:
- Communication & Community
- Entertainment
- Information
- E-commerce
3G network – Customizing internet-based services.
- PaiPai.com launched: C2C auction platform.
- TenPay launched: Escrow online payment system.
- QZone launch: Social network platform.
- QQ Fantasy: First in-house MMORPG development.
2005 2006 2007
Rapid development of
mobile networks
(3G, reduced traffic,
increased penetration).
2008
- QQ2009 launched: Push to enhance user stickiness on IM platform.
- Xiaoyou launched: Social network platform.
US$ 0.18bn US$ 0.36bn US$ 0.52bn US$ 1.050bn US$ 1.82bn
REVENUE REVENUE REVENUE REVENUE REVENUE
MOBILE PLATFORM EXPANSION
Product Development
Tencent adopts open-platform
strategy: “win-win-win” for users
developers and the company.
Opens its API to the public.
2010
US$ 2.98bn
REVENUE
Business Development
#1 Portal in China
RECESSION
Note: All revenue figures are approximations, subject to currency fluctuations. © Dario de Wet

4. 2015
- WeChat international
launch.
- Weixin Moments launch:
social network functionality.
- Tencent Weiyun launch:
Cloud storage.
40k registered third-
party applications.
Focus on ‘Connection’
strategy – Leveraging
its platforms to link
users with content,
services and hardware
both online and offline.
- Weixin (WeChat)
Chinese launch: Mobile
messaging app.
- Buy.qq.com B2B2C
platform launched.
First time alignment of
PC and mobile
offerings.
2011 2012 2013
- Wexin Wallet: Mobile
payments launched.
- Official Weixin accounts
launched.
- Game centre for Mobile
QQ and Weixin launched.
Mobile applications
become mainstream for
internet services as mobile
platforms achieve critical
mass - Mobile payments
become popular in China.
Encourage users to keep
money within Weixin
ecosystem – New
charges implemented on
withdrawals, but not on
transfers.
2014
- WeBank launched.
- WeChat Licaitong Wealth Management product launched.
- Yongjinbao (Internet finance) launched.
- Tencent Securities Wealth Management platform launched.
- DIDI Chuxing, taxi booking service added to Weixin
functionality.
- In-store cashless payments launched.
- Digitised Chinese New Year ‘Red Packets’ tradition.
US$ 4.52bn US$ 7.04bn US$ 9.98bn US$ 12.72bn US$ 15.86bn
REVENUE REVENUE REVENUE REVENUE REVENUE
WEIXIN/WECHAT ERA
Product Development
Business Development
Weixin Launches Weilidai Pilot/Launch
Note: All revenue figures are approximations, subject to currency fluctuations. © Dario de Wet

5. 0,01 0,03 0,09 0,14 0,18 0,36 0,52
1,05
1,82
2,98
4,52
7,04
9,98
12,72
15,86
0,0
0,2
0,4
0,6
0,8
1,0
1,2
1,4
1,6
1,8
0
2
4
6
8
10
12
14
16
18
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Billions(USD)
Billions(USD)
Total Revenue IM - Monthly Active Users (MAU)
Weixin
Launch
WeChat
Launch
REVENUE & MONTHLY ACTIVE USER (MAU) RELATIONSHIP
QQ Launch
Note: All revenue figures are approximations, subject to currency fluctuations. © Dario de Wet

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