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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