Tencent – QQ

- China’s largest internet services portal providing applications such as QQ instant messenger and QQ games 
- QQ Instant Messenger has over 900MM registered users, nearly half of which are active
- The QQ Games portal has 5.8MM users simultaneously on-line
- Has a virtual currency, QQ Coins, which are used to purchase virtual items across all QQ services – QQ coins can be earned or purchased
- Generated over $1BN in revenues in 2008, over $300MM in Q4 2008 alone
- In Q4 2008, gaming revenue accounted for over $100MM from the purchase of virtual items 

[Sources: Tencent Fact Sheet (as of May 2009), Tencent Annual and Fourth Quarter Results 2008]