TCEHY meaning in Business ?

Answer:

What is Tencent Holdings Ltd. mean?

Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company. Founded in 1998, its subsidiaries globally market various Internet-related services and products, including in entertainment, artificial intelligence, and other technology. Its twin-skyscraper headquarters, Tencent Seafront Towers (also known as Tencent Binhai Mansion) are based in the Nanshan District of Shenzhen.

Tencent is the world's largest video game vendor, as well as one of the most financially valuable companies. It is among the largest social media, venture capital, and investment corporations. Its services include social network, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones, and multiplayer online games. Offerings in China include the instant messengers Tencent QQ and WeChat, and one of the largest web portals, QQ.com. It also owns the majority of China's music services (Tencent Music), with more than 700 million active users and 120 million paying subscribers.

The company surpassed a market value of US$500 billion in 2018, becoming the first Asian technology company to cross this valuation mark. It has since then emerged as the most valuable publicly traded company in China, and among the world's top technology companies by market value. In 2015, 2018, and 2020, the company was ranked by the Boston Consulting Group and Fast Company among the 50 most innovative companies worldwide. Tencent has stakes in over 600 companies, and began focusing on tech start-ups in Asia in 2017. TechCrunch characterized Tencent's investment strategy as letting its portfolio startups operate autonomously.

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