Facebook should be worth more than USD 50 billion? Wedbush analyst Lou Kerner expected in the case of an IPO a valuation of about USD 100 billion and Facebook CEO Mark Zuckerberg should have announced a goal valuation to his employees of USD 1,000 billion.
Nobody knows but true is that Facebook is only the number two in social networking. The most successful social media network by financials and users comes from China. While almost none of the 1.3 billion populations have ever heard of sugar's platform, nearly 636 million people use the Chinese internet platform to communicate and share private stuff.
Here is a company that is listed on the Hong-Kong Stock Exchange and leads the Chinese market for social networking. The company has a market capitalization of USD 44.2 billion and 636 million users. It serves USD 1.3 billion cash and generated sales in an amount of USD 1.8 billion; Net income was USD 0.7 billion.
Tencent Holdings was founded in 1998 and listed in 2004. Tencent is providing value-added Internet, mobile and telecom services and online advertising under the strategic goal of providing users with "one-stop online lifestyle services". Tencent’s leading Internet platforms in China – QQ (QQ Instant Messenger), QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay – have brought together China's largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. As of September 30, 2010, the active QQ users accounts for QQ IM amounted to 636.6 million while its peak concurrent users reached 118.7 million. The development of Tencent has profoundly influenced the ways hundreds of millions of Internet users communicate with one another as well as their lifestyles. It also brings possibilities of a wider range of applications to the China’s Internet industry.