Just two years ago next month, Tencent Holdings Ltd. introduced a mobile instant-message application called WeChat. It already has 200 million users, including Lai Jingkui, a teacher in China’s southern Zhuhai city, who uses the “Drift Bottle” function to find friends.
While Lai, 23, is still looking, Tencent has found a hit. WeChat’s user base could double to 400 million within three years, providing the chance for China’s biggest Internet company to boost revenue by adding mobile e-commerce and location-based advertising, Core Pacific-Yamaichi International (H.K.) Ltd. estimates.