At Tencent headquarters there are pictures of its cutesy penguin mascot everywhere. Sometimes he's winking and smiling, and sometimes he's getting all badass. It's also how the company behaves in the market. As you may have read, a strange and dramatic fight is escalating in the Chinese Internet between Qihoo 360 and Tencent, maker of the ubiquitous QQ messaging platform. Why should you care if you're not in China? Because China is the largest Web audience in the world and Tencent is the king of it. At north of $40 billion, it also has the third largest market capitalizations of any Web company globally, just edging out eBay and �soaring even higher in the last few months. And it has international ambitions. It owns 10% of Mail.ru, which in turn owns huge chunks of Facebook, Groupon, Zynga and other Western Web 2.0 giants. Watching how Tencent throws its weight around the Web is now as important as watching precedents set by Google or Facebook.
Source: http://feedproxy.google.com/~r/Techcrunch/~3/gIEIY-tbQGU/
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