World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Tencent Invested In 31 Gaming Companies In 2020, 300% More Than In 2019

In 2020, Tencent Holdings went on an acquisition spree, securing more deals than any other studio. According to the research data analyzed and published by Safe Betting Sites, Tencent had invested in 31 gaming companies, four times higher than in 2017 and up by 300% than 2019.

Tencent took part in over 170 funding rounds in 2020, valued at a cumulative 249.5 million yuan ($38 million). As a result, 2020 was the Chinese tech giant’s most active year ever.

Bytedance’s Revenue More than Doubled to $37 Billion in 2020

Tencent’s highest valued investment in gaming during the year was the $1.5 billion acquisition of Leyou Technology. It invested in the $150 million Series G funding round in Roblox and $100 million Series B round in VSPN. Additionally, it invested $810 million in the Huya-Douyu merger.

Twenty-three of the 31 deals that took place involved gaming companies in China while the rest were overseas. In the past, Tencent took a conservative approach, investing only in established companies. However, in 2020, it changed its strategy, favoring earlier stages and smaller companies.

According to Niko, the strategy change was attributed to the increasing competition in the Chinese gaming space. Though it still maintains a healthy lead, the pressure is mounting from rivals ByteDance and Alibaba.

Based on a report by The Information, ByteDance more than doubled its revenue in 2020 to about $37 billion. On Douyin, the Chinese iteration of TikTok, 50% of its revenue came from gaming-related advertising. At the end of the year, ByteDance had 29 gaming companies and a dozen studios.

On the other hand, for Alibaba, its gaming subsidiary Lingxi Interactive had a good year. In December 2020, one of its games, Romance of the Three Kingdoms was the fourth highest grossing iOS game in China. Lingxi is estimated to have generated over $1 billion in revenue in 2020.

The full story, statistics and information can be found here: https://www.safebettingsites.com/2021/02/18/tencent-invested-in-31-gaming-companies-in-2020-300-more-than-in-2019/

© Scoop Media

 
 
 
World Headlines

 

OECD: Final Quarter Of 2020 Shows Continued Recovery In G20 International Merchandise Trade

G20 international merchandise trade continued to rebound in the fourth quarter of 2020 ( exports up 7.2% and imports up 6.8%), following the sharp falls seen in the first half of 2020, as lockdown measures affected trade globally. Although growth ... More>>

UN Report: Civilian Casualties Surged After Peace Talks Began In Afghanistan

Monitoring by the UN Assistance Mission in Afghanistan, UNAMA, and the UN Human Rights Office has revealed that despite a drop in civilians killed and injured overall in 2020 there was a rise in civilian casualties following the start of peace negotiations ... More>>

Climate: UN Chief Lauds ‘day Of Hope’ As US Officially Rejoins Paris Climate Accord

The official return of the United States to the Paris Agreement on Climate Change represents good news for the country and the world, UN Secretary-General António Guterres said on Friday during a virtual event to mark the occasion. The US, under ... More>>

Focus On: UN SDGs


2021: Critical Year To ‘reset Our Relationship With Nature’ – UN Chief

During this time of “crisis and fragility”, the UN chief told the United Nations Environment Assembly on Monday that human well-being and prosperity can be vastly improved by prioritizing nature-based solutions. Painting a picture of the turmoil ... More>>


Paris Agreement: UN Secretary-General António Guterres To Mark U.S. Reentry With Envoy For Climate John Kerry

Watch live at webtv.un.org UN Secretary-General António Guterres will join U.S. Special Presidential Envoy for Climate John F. Kerry at an event marking the United States’ reentry into the Paris Agreement this Friday. The discussion with the Secretary-General ... More>>

WeBeliev: Scoop In Conversation With Abhishek Sinha, Founder Of WeBeliev, An NZ Crowdfunding Platform

WeBeliev supports 17 SDGs, launching sector specific campaigns every month Q. What is WeBeliev and why did you start it? A. WeBeliev is a Singapore-registered crowdfunding platform aimed at fundraising for all the 17 Sustainable Development Goals (SDGs) ... More>>