Tencent - 5 Things I learnt from visiting China's largest tech company.

At Digital Retex we work closely with Tencent to deliver WeChat solutions to brands and businesses across Europe. In order to keep up to speed with the WeChat Ecosystem Digital Retex recently sent me to the head offices of Tencent, WeChat’s parent and China’s largest listed company to learn more about what is coming for WeChat in 2018. Here are the things I noticed about Tencent.

1.      Tencent is young

Walking around Tencent’s headquarters in Shenzhen you could be forgiven for thinking you were on a top Chinese university campus. Most staff are in their mid-twenties and have the look of young, educated and ambitious individuals who recognise they are part of one the world’s most innovative companies. It's an exciting place to be.

2.      Tencent’s brand is powerful

The Tencent headquarters have almost become a destination for Chinese tourists and tech enthusiasts. Standing outside Tencent tower, it’s not unusual to see tourists or business people posing next to the Tencent plaque. Whilst this phenomenon and the Tencent merchandise store that sits at the entrance to the office might seem a little unusual by western standards, it’s not all that surprising when considering that in March 2017, Tencent was recognised as China’s most powerful brand (WPP), with a brand value of over $100 billion and nearly double that of arch-rival Alibaba.

The Tencent plaque outside Tencent Tower in Shenzhen.

3.      They’re looking internationally

Anyone who’s been to China will know Tencent’s most well-known product, WeChat has a near monopoly on Mobile communication there. Though WeChat has struggled to compete with Facebook’s messaging tools in the west, Tencent has invested in and acquired in key consumer tech brands, especially in Asia, from music streaming to e-commerce. It is also backing some major western players too with small stakes in Tesla, Snap Inc and Spotify.

4.      They’ve got a great company culture

With a young and exciting company, you would expect a great culture. Tencent didn't disappoint. My Chinese friends at Tencent told me that the culture and engaging work was what made Tencent such an appealing place to work. From delicious food in the canteen to training excursions, to free transport, Tencent’s staff are treated well and feel valued. I also wasn’t complaining when the team I was working with insisted on a 15-minute powernap mid-afternoon. Refreshing.

Tencent's team enjoy fantastic views of Shenzhen - one of China's most vibrant Tech Hubs.

5.      They’re important

With Tencent handling an estimated 50% of traffic in the world’s largest internet economy (China), its headquarters are hosting incredible amounts of data. From delivering payment services to virtual WeChat ID cards, Tencent is playing a hugely important role in the Chinese economy and society in general. I wasn’t surprised therefore to see high levels of security and screening for both visitors and employees. 

If you’d like to learn more about Tencent and how WeChat can help you reach, engage and serve Chinese customers then please reach out to me.