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Tencent’s business is about as big as Facebook’s thanks to its stronghold in China (TCEHY, FB)



Facebook owns the world.

Tencent owns China.

As it turns out, each market is worth about the same when it comes to the social media business.

Facebook and Tencent both generated almost the same amount of revenue in the first three months of the year. And, as this chart from Statista shows, Tencent’s three main social media platforms have a combined user base of 2.4 billion, slightly above Facebook’s 2.2 billion users.

Because of restrictions in China, popular social media platforms like Facebook, Facebook-owned Instagram, Twitter, and Snapchat aren’t accessible in the country, making way for Tencent’s WeChat, QQ, and Qzone. As the value of the Chinese market continues to grow however, so will the pressure on Facebook to figure out a way to operate in the country. 

Chart of the day

SEE ALSO: Advertisers still spend almost as much money on print ads as PC web ads — even though consumers spend far more time surfing the net than reading newspapers

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