Tencent Just Overtook Facebook in Market Value: Chart
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Tencent Holdings Ltd. surpassed Facebook Inc. in market value, becoming the world’s fifth-largest publicly traded company. The Chinese social networking giant, operator of the ubiquitous WeChat messaging service, was valued at $528 billion as of 1:51 p.m. in Hong Kong, just above Facebook’s $522 billion. Founded by billionaire Ma Huateng, Tencent has sustained an enviable pace of growth by moving steadily into online advertising, content and scoring a string of hit games.