In the 4th quarter of 2013 ended December 31, Martin Lau (Lau), President of Shanghai, China-based Tencent Holdings Limited (Tencent), announced that the company’s WeChat app had generated revenue of between CNY200 million and CNY300 million (US$32-49 million). WeChat and Mobile QQ, another of Tencent’s apps, together generated gaming sales of more than CNY600 million in the same period. According to Elinor Leung, an analyst with CLSA , WeChat was worth about US$64 billion. Tencent planned to invest further to help WeChat evolve from a pure communications service into a multi-functional platform. “We (only) just started to monetize WeChat in the fourth quarter [of 2013], so revenues won’t be too much,” said Lau....
