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Penny Fractions: Tencent is ready to own the record industry

from Penny Fractions

Penny Fractions: Tencent is ready to own the record industry Penny Fractions When the record industry was most worried about the alleged threat of Napster, across the globe, a company, whose reach would one day surpass the dreams of the tech bubble’s poster child, was just getting started. Tencent was founded in late 1998 and launched OICQ, an online messaging platform later renamed QQ, in 1999. During the height of the internet bubble it received investments from the Hong Kong telecommunications firm PCCW and IDG Ventures, one of China’s oldest venture capital firms. READ MORE

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