China’s Tencent becomes more valuable than Facebook

Tencent is the first $500 billion company in Asia. ?Fergus Ryan November 20, 2017 : The social media and video game giant of China, Tencent, overtook Facebook in terms of market value recently.On Tuesday afternoon Tencent's market capitalisation reached 4.15 trillion Hong Kong dollars, surpassing the Facebook’s $519 billion. Tencent has nearly one billion users on its popular WeChat phone platform, where people can chat, post photographs, play games, transfer money and pay for a variety of services in China. The company was listed in Hong Kong earlier this year and reportedly, Tencent is the first $500 billion company in Asia.