Tencent CTO: Facebook Took a Page From Our Biz Model
As Facebook’s imminent IPO became the talk of Silicon Valley and Wall Street, you might have read from the social networking site’s SEC S-1 filing that it pulled in more than $1 billion in profit on revenue of $3.71 billion last year. What Facebook’s prospectus will not tell you, is that the social giant has taken a page from Tencent’s business model, at least according to the Chinese Internet giant’s CTO.
Xiong Minghua, Tencent's CTO, said in a speech at the ChinaBang Awards ceremony: "I visited Facebook back in 2006 and...
Published By: Techcrunch - Thursday, 23 February