Tencent overtakes Facebook as world’s most valuable social media company

Tencent Holdings blasted past Facebook to become the world’s most valuable social media network operator by market capitalisation on Tuesday. It now also ranks as the seventh largest company globally. The Chinese online games and WeChat giant soared 4.5 per cent to HK$543.50, taking its market capitalisation to just under HK$5.2 trillion (US$670 billion), compared to the American rival’s market value of US$657.8 billion.
Read more: https://www.scmp.com/business/companies/article/3094961/tencent-overtakes-facebook-worlds-most-valuable-social-media?source=Snapzu