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China’s Tencent Hits $200 Billion Market Cap for First Time

China’s Tencent Holdings Ltd for the first time hit a market cap of more than $200 billion on Monday, making it more valuable than U.S. tech firms like Amazon.com Inc, IBM Corp and Oracle Corp. The country’s biggest social networking and online entertainment firm rose 5.38 percent to close at HK$170.50 ($22) in trading in Hong Kong, giving it a market valuation of $206 billion (roughly...

China’s Largest E-retailer Marries Mobile Messaging and Commerce

JD.com, China’s largest online retailer in terms of direct sales, has taken another step to mesh its business with that of Tencent, the Chinese online messaging and gaming giant that bought a 15% stake in JD.com in March. In the latest move, JD.com has created a free service called Paipai Weidian that lets small merchants and individuals easily create their own mobile commerce sites and to promote...

China’s Tencent Invests in U.S. Space Travel Company

Jane Poynter, co-founder and chief executive officer of World View Enterprises, revealed that the company recently gained a new round of investments and its investors included the Chinese Internet technology giant Tencent. Focusing on the research and development of space travel business, World View operates high-altitude balloons that offer an accessible and affordable way to access near space. The...