How Tencent Became China's Most Valuable Company

Tencent, founded in 1998, quickly became profitable and expanded its user base significantly by its 2004 IPO. The introduction of WeChat, coinciding with smartphone adoption, propelled Tencent to over 1.2 billion users. The company's shares have surged, and it has invested heavily in over 800 companies, many achieving unicorn status. However, increased regulatory scrutiny in China poses challenges to its expansion. Despite this, analysts remain optimistic about Tencent's future.

What is the estimated worth of Tencent-backed companies combined?

What challenges does Tencent face regarding its future expansion?