Technology
Fast-growing Chinese IT firms increase clout in global market
March 19, 2014
Rapidly growing Chinese IT firms are aggressively expanding their presence in the global market and are posing a challenge to IT giants such as Google and Facebook. Since its initial public offering in 2004, Tencent, a Chinese Web-portal operator, saw its market value increase more than 100-fold to $138 billion during the past 10 years. Tencent, which also runs the mobile messenger WeChat, has been flexing its muscles in the mobile messenger market, as it has a 14 percent stake in Kakao Corp. Ka