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Web weChat China’s Largest Social Network, Owned by An African Company

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  • Web WeChat, China's largest social network
  • weChat Features

Web WeChat, China’s largest social network is owned by a South African company Naspers. Founded over a century ago in South Africa, the media, tech, and investment firm Naspers paid $32 million in 2001 for a major stake in a Chinese tech startup. .

That startup was Tencent (TCEHY), Tencent, (and thus WeChat) is 34% owned by a South African media company called Naspers.  Naspers was one of the very early investors in Tencent in 2001. This single investment of $32 million has grown in value to nearly $66 billion, making Naspers the most valuable company in Africa.

The investment has helped Naspers, which started as a small publishing house but now operates in over 120 countries, to compete with the likes of Amazon (AMZN), Facebook (FB) and Netflix (NFLX).

Web Wechat China's largest social network, is owned by South African company

Web WeChat, China’s largest social network

WeChat is a Chinese multi-purpose messaging, social media, mobile payment app & China’s largest social network  developed by Tencent. It was first released in 2011 and became one of the world’s largest standalone mobile apps in 2018, with over 1 billion monthly active users.

Web WeChat China’s largest social network, is a mobile text and voice messaging communication service developed by Tencent in China, first released in January 2011.

Web WeChat is one of the main ways people communicate in China. Even when doing business, people prefer WeChat to email. It’s even more prevalent because services like Facebook are blocked in China.

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FEATURES

Video Call

Web WeChat China’s largest social network, allows users to make face-to-face video calls by simply pressing “+” and selecting the “video call” icon under the chat window. This will use all your cell phone’s contacts.

Voice Chat

This is also known as free Internet phone calling. Simply pick your contact from your phone’s contact list and start talking. You can also send text chats as well.

Mobile Commerce

From major supermarkets to the smallest of street vendors and taxis, you can pay for things with WeChat almost anywhere in China.

As long as you have a Chinese bank account, you can link that to Web WeChat China’s largest social network.

Web WeChat allows for mobile transactions via TenPay (a version of PayPal). WeChat can let brands create m-commerce stores or send money to other members. You can even buy goods from vending machines via WeChat on your phone.There are two ways to pay for something via the app. Firstly, the store can scan your unique WeChat barcode, which looks like the image below.

Secondly, you could scan the barcode of the merchant you are buying items or services from, as seen in the picture below.

If you’re buying something online in China, there will be an option to purchase with WeChat Pay. You will need to put in a passcode or use a biometric authentication tool to authorize the transaction.

Instant money transfers to your WeChat contacts can also be made via the messaging function, which makes it easy to split bills or just move money around China. It is possible to be nearly cashless in China and actually go out for the day without a wallet.

The main rival to WeChat Pay is Alipay, owned by Alibaba affiliate Ant Financial.

QR Code

Web WeChat China’s largest social network, comes with a standard QR Code reader, allowing the app to instantly work with QR codes and better integrate with the message, promotion or information that is attached to it. Many business cards in China use a QR code, which is then automatically scanned into your WeChat App.

Moments

Moments allow you to mini-blog and post thoughts and images to your friends. These posts are then automatically updated to your circle of friends.

Geo-Location

Web WeChat China’s largest social network, has several features that allow you to search via your geo-location for WeChat friends or other members who are nearby. ‘Shake’ allows you to look for other members around you (just shake the phone when you are ready).

Emoticons

Besides a huge number of emoji collections that WeChat provides for free, users can also add their own emoticons by simply downloading from a website, or creating their own from photo albums.

Games and top-up

There are several other things you can do via WeChat including wealth management and topping up your mobile phone.

You can also play games within Web WeChat China’s largest social network. Games are extremely important for Tencent and accounted for around 32 percent of total revenue in the third quarter of 2018.

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