Wechat - a Social Media Software

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Tencent’s 2016 4th Quarter Financial Report (2016) noted that its online advertising revenue was 8,288 million RMB [equals 1.60 billion CAD] (p. 10). The market size of WeChat is 846 million users, which is very close to QQ’s 877 million users. The assumption that WeChat contributed at least a half of the online advertising revenue to Tencent. It is also notable that WeChat is still taking market from QQ, so WeChat will become an even bigger revenue stream for Tencent in the future.

I, as a Chinese, am currently using WeChat more than Facebook even I live in Canada. WeChat gives me the convenience to talk to my parents and friends in China, so that I know what is happening there and tell them how I am doing here. However, I do not like the way WeChat advertises for businesses. The advertisements pop up too frequently, which disrupt my talk with others. Also, there are lots of scammers’ friend requests on WeChat, once a user transfer money to a scammers, WeChat is not liable to the loss, and will not help and one take their money back. Therefore, I suggest WeChat to work on customers’ property security.

In conclusion, WeChat is the social media software that fits Chinese market’s needs, and really bring convenience in communication for Chinese. However, there are some things need further improvement, such as customers’ property security; privacy, and the way they advertise.

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References

China Channel. (2015, September 17). Do You Know Who Invented WeChat? Retrieved from http://chinachannel.co/who-invented-wechat-zhang-xiaolong/

Heath, a. (2015, Nov 1). An app you've probably never heard of is the most important social network in China [Business Insider post]. Retrieved from http://www.businessinsider.com/what-is-wechat-2015-10/#wechat-had-600-million-monthly-active-users-in-august-2015-and-only-70-million-of-them-were-outside-of-china-1

Statista. (n.d.). Most famous social network sites 2017, by active users. Retrieved from https://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users/

Tencent. (2016) TENCENT ANNOUNCES 2016 FOURTH QUARTER AND ANNUAL RESULTS. Retrieved from https://www.tencent.com/en-us/articles/15000591490174029.pdf

The Economist. (2016, August 6). WeChat’s world. Retrieved from http://www.economist.com/news/business/21703428-chinas-wechat-shows-way-social-medias-future-wechats-world