Tencent Aims to Cash In on Its Hit Messaging App

(Beijing) – Tencent Holdings Ltd.'s popular messaging application WeChat, or Weixin, has been a mobile phone miracle. Since its launch in January 2011, the voice and text chat application has attracted more than 500 million users. And Tencent wants more.

In late 2013, the company proposed a "connect everything" strategy for WeChat. Under the plan, Tencent wants to make WeChat a platform that connects people, businesses, services and many other entities to make it an integrated online community offering information, entertainment, financial and business services, and various other options for users.