Tencent is well-known for its super app WeChat and its involvement in games, being the world’s largest games publisher. Yet, even for a giant like Tencent, breaking into e-commerce isn’t easy.
In 2005, Tencent launched Paipai.com, a C2C marketplace to rival Alibaba’s Taobao.com. But as Taobao consolidated its position over subsequent years and investment from Tencent slowed down, Paipai eventually lagged behind and was later sold to JD.com.
However, Tencent remains relevant in the e-commerce sector through important investments in companies like JD.com and Pinduoduo, both Alibaba’s rivals. Tencent has also been leveraging WeChat’s mini programs to attract attention and drive sales for small and medium-sized companies. To learn more about Tencent’s e-commerce strategy, check out our video:
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