Tencent Holdings, also known as Tencent, is a publicly owned multinational holding corporation founded in 1998 and headquartered in China. Employing over 107,690 people as of 2023, the company's primary business is software development, focusing on internet value-added services. These services include e-commerce, online advertising, online gaming, and social networking. Tencent operates WeChat, a prominent social media platform in China, and is a significant player in global venture capital and investment. The company reported revenues exceeding $1 billion in 2023.
Tencent is involved in a legal dispute with Sony. Sony filed a lawsuit against Tencent, alleging that Tencent’s game, Light of Motiram, copied elements from Sony’s Horizon series. Tencent responded by dismissing Sony’s claims as baseless and an attempt to monopolize common gaming conventions. Separately, Tencent announced plans to expand its cloud and AI services in Saudi Arabia, designating the Kingdom as its primary Middle East hub. This initiative is part of a $150 million investment and includes the launch of a cloud region in Riyadh. Furthermore, Tencent plans to invest 500 billion yuan (S$99 billion) over the next five years in technology infrastructure.
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Examples of Tencent Holdings's suppliers include Vizrt, EVS Broadcast Equipment and Vobile.
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Tencent Holdings currently holds 11 broadcasting rights for sports competitions including baseball, american football, ice hockey, tennis, basketball, multi-sport and soccer | association football.
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