![]() Tencent promptly responded by obstructing Taobao's download hyperlink and redirecting users to a webpage that displays the message: "The Taobao website you are attempting to access has been obstructed. Therefore, the Taobao links opened in WeChat could not be opened directly, nor could it jump directly to the Taobao app. If the user entered the account password on this page, then the user's account password would be stolen. In November 2013, WeChat users, who could not visit Taobao’s website via a link in WeChat, were led to a download page for the Taobao app and thus could no longer buy commodities from Taobao on WeChat.Īt the time, Alibaba stated that this was for security reasons: WeChat's browser could not distinguish between the real Taobao page and the phishing page. Soon afterwards, it banned Taobao sellers from posting WeChat QR codes. In July 2013, Alibaba announced the suspension of WeChat-related third-party application services and cut all access to WeChat data. (Alibaba's) Taobao and (Tencent's) WeChat had been blocking each other for eight years.Īccording to Xinhua News Agency, the blocking of Taobao and WeChat originated in 2013. ![]() In terms of revenue and net profit, in Q1 2023, Tencent's total revenue exceeded CNY 149.99 billion, lower than American Internet giant Meta's USD 28.65 billion (CNY 205.55 billion) Tencent's net profit of CNY 32.54 billion exceeded Meta's USD 7.23 billion (CNY 19.57 billion). Its major revenue includes value-added business, online advertising, financial technology & corporate services, and other businesses. ![]() Tencent is one of the world's leading Internet technology companies, with businesses covering social media(core business), finance, entertainment, consulting, etc., with products including WeChat, QQ, Tencent Video, Tencent Maps, Tencent Gaming, Tencent Meeting and others. In terms of total revenue and net profit, in Q1 2023, Alibaba's total revenue exceeded CNY 868.69 billion, slightly lower than American E-commerce giant Amazon's USD 127.36 billion (CNY 911.53 billion) Alibaba's net profit of CNY 65.57 billion exceeded Amazon's USD 3.17 billion (CNY 22.70 billion). Its businesses cover a wide range of areas including China Commerce, International Commerce, Local Consumer Services, Digital Media and Entertainment, Innovative Initiatives and Others, with products such as Taobao, TMALL, AliExpress, YOUKU, Quark, Alibaba Health, etc. In 1998, Ma Huateng created the instant messaging service QQ for Tencent in Shenzhen, which now has over 1 billion users for its games, communications, and social services.Īlibaba is one of the world's leading online marketplace and business exchange communities. In 1999, Jack Ma founded Alibaba for USD 60,000 and grew it into China's foremost e-commerce platform. ![]() The constant "separation and integration" between them has garnered significant market attention.Īlibaba and Tencent have been competitors since China's Internet industry boomed. ![]() These two Chinese tech giants are undoubtedly the top Internet companies in China in terms of market capitalization, profitability and business ecosystem. Mas cannot easily be avoided, either by consumers, businesses, investors, or competitors. The business ecosystems built by the two Mr. Notwithstanding, it is impossible to talk about digital business in China without focusing on either Alibaba, Tencent, or both. The Chinese Internet industry is experiencing continuous growth and evolution, with the emergence of outstanding players such as Meituan (Chinese: 美团), Douyin Group (Chinese: 抖音集团), Jingdong (Chinese: 京东), and Pinduoduo (Chinese: 拼多多). ![]()
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