WeChat is a financial disaster for all we know.
1.4 billion people use it as their dominant payment method. Not mobile payment method, but payment method full stop. I think it's safe to say they're incredibly profitable.
1.4 billion people use it as their dominant payment method. Not mobile payment method, but payment method full stop. I think it's safe to say they're incredibly profitable.
That’s my point. Tencent intentionally hides WeChat in their financials. You assume it’s wildly profitable because Tencent is. Usually when a company tries to hide the financial narrative of a product it’s not because it’s doing great.
“We consider payment at this point in time as to [sic] infrastructure service rather than a service that generates profit for us. And I think that status will maintain for quite some time,” Martin Lau