China's largest social media company Tencent is now more valuable than Facebook

Tencent Holdings, the biggest social networking network in China, has reached the market value of $ 50 billion as the first Asian institution. As a result, the world's largest social network, Facebook, has retreated from market value to Facebook.

Tencent is owned by App WeChat, China's popular message exchange. WeChat has around 100 million active users per month. In addition, the league of legends and honors of kings are in the hands of popular games. Besides, Tencent has Snap Incorporated and AppAccessive Transportation Services Lift. Tensent has an investment in electric car maker Tesla.

According to the Forbes list of US journalists, Tencent CEO Ma Huataeng is found to be more wealthy than Larry Page and Sergey Brin, founder of Google. According to the magazine's report on Tuesday, Huateng's assets amounted to 4.83 billion US dollars. Which brings him to the ninth position on the list of world's wealthiest people. In fact, since the announcement of WeChat's money-back services in Malaysia since the coming year, the company's stock price has increased.

The Asian company is located next to the Bagha Bagha company of the United States, such as Apple, Amazon, Microsoft. According to analysts, WeChat is at the root of Tencent's success. WeChat's money-making service makes the app more popular. In order to increase the number of users of WeChat, the company has announced the launch of the service in Malaysia.