tencent lets we chat users buy online amid alibaba block
TRANSCRIPT
Tencent Lets WeChat Users Buy Online Amid Alibaba Block E-Commerce Giant blocks competitor Tencent’s new online payment on WeChat 6. August From Bloomberg: China’s online e-‐commerce giant, Alibaba Group Holding Lt., has temporarily suspended a function that allowed sellers to subscribe to WeChat applications through Alibaba. Some sellers on Alibaba have tried to steer transactions away from its Taobao Marketplace and Tmall.com platforms, and disturbed customers through promotions on WeChat, Alibaba spokeswoman Florence Shih said in an e-‐mailed statement. Tencent Holdnings Ltd, who owns the popular instant messaging application, currently has 194 million monthly active users. Thus Tencent is a mayor competitor to Alibaba.
According to the China Internet Network Information Center, there were more than 464 million mobile Internet users in China by the end of June. Tencent is counting on the chat application as it challenges virtual mall operator Alibaba for dominance over Internet retail in China, which McKinsey & Co. estimates will triple to $395 billion from 2011 to 2015. Alibaba, which is heading toward what may be the biggest initial share sale since Facebook Inc., has been buying stakes in mobile apps as users spend more time and money on smartphones and tablets.
For more information feel free to write to Christian Brüel [email protected] at Shanghai Jungle. Read more http://www.bloomberg.com/news/print/2013-‐08-‐06/tencent-‐commercializes-‐wechat-‐to-‐tap-‐mobile-‐users-‐pocket.html Loushanguan 83 +86 15811153574 www.schultz-‐co.com