Facebook Shift Nods to Chinese Super-app WeChat

Date : 03/08/2019 @ 6:42AM
Source : Dow Jones News
Stock : Tencent Holding Ltd. (PC) (TCEHY)
Quote : 42.77  -0.39 (-0.90%) @ 9:00PM

Facebook Shift Nods to Chinese Super-app WeChat

Tencent Holding Ltd. (PC) (USOTC:TCEHY)
Historical Stock Chart

1 Year : From Sep 2018 to Sep 2019

Click Here for more Tencent Holding Ltd. (PC) Charts.
By WSJ City 

Facebook's latest shift toward private messaging, payments and e-commerce echoes the footsteps of WeChat, China's social networking super app that many Chinese find indispensable.

KEY FACTS

   -- Facebook plans to offer encrypted messaging across all of its major 
      products. 
 
   -- It will allow people to make private conversations ephemeral. 
 
   -- Developed by Tencent, WeChat has evolved from a simple messaging service. 
 
   -- Users can shop, pay, buy movie tickets and make doctor's appointments 
      without leaving the platform. 
 
   -- WeChat counts over one billion users. 

WHY THIS MATTERS

The path to a super-app wouldn't be as smooth for Facebook as it was for WeChat, which was sheltered from competition in a market hungry for its services, and doesn't provide the level of privacy that many users of a Facebook app would likely demand.

But for wired Chinese--and tech-sector analysts--the reason for Facebook's shift is easy to understand. Facebook is "very aware of how Tencent has been able to integrate messaging and payment and e-commerce and all of these mini-apps into one platform," said Ben Cavender, a senior analyst at China Market Research Group.

A fuller story is available on WSJ.com

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity

 

(END) Dow Jones Newswires

March 08, 2019 01:27 ET (06:27 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest TCEHY Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.