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Tencent unveils business restructuring
By Ding Yining |
May 18, 2012, Friday
|
Online Edition
Online Edition
TENCENT, China's largest Internet company in terms of user base and market capitalization, announced today it will restructure its business into six groups to better adapt to market situation and focus on key sectors such as mobile Internet and social networking.
"The new business structure will allow us to put more focus on users' demand in the fast moving Internet market," chief executive officer Ma Huateng said in an open letter to employees today.
Tencent's business will be divided into six business groups, namely Technology & Engineering, Social Networking, Creative Business, Interactive Entertainment, Mobile Internet and Online Media.
"Under the new structure, we'll be able to specialize in specific new business sectors and foster the user base and at the same time to make the whole industry stronger," Ma said.
Tencent will also establish an independent e-commerce subsidairy to operate its online shopping business, The Shenzhen-based company said in a statement today.
The company has been successfully extended its service beyond the online chatting tool QQ to other sectors including online gaming. Tencent made a series of investment last year to take stakes in e-commerce site 51buy.com and online travel booking agency eLong.com.
"The new business structure will allow us to put more focus on users' demand in the fast moving Internet market," chief executive officer Ma Huateng said in an open letter to employees today.
Tencent's business will be divided into six business groups, namely Technology & Engineering, Social Networking, Creative Business, Interactive Entertainment, Mobile Internet and Online Media.
"Under the new structure, we'll be able to specialize in specific new business sectors and foster the user base and at the same time to make the whole industry stronger," Ma said.
Tencent will also establish an independent e-commerce subsidairy to operate its online shopping business, The Shenzhen-based company said in a statement today.
The company has been successfully extended its service beyond the online chatting tool QQ to other sectors including online gaming. Tencent made a series of investment last year to take stakes in e-commerce site 51buy.com and online travel booking agency eLong.com.
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