League of Legends Publisher Tencent Tops Facebook in Valuation

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Regardless if you’ve played any of Tencent’s games, chances are, you’ve heard of gaming properties it owns like League of Legends, CrossFire, and more. It’s gotten such a big stranglehold in Asia that it has now passed Facebook (yes, that Facebook!) in terms of valuation!

In a stock market press release, it’s been marked that Tencent’s stock market cap has now risen over that of everybody’s favorite social media platform, Facebook.

  • Tencent’s (OTCPK:TCEHY) stock market cap has risen above that of Facebook (NASDAQ:FB), climbing as much as 4.7% to $534.5B, the day after it became the first Chinese company to break through the $500B mark.
  • Investors have been piling into the WeChat social networking giant, extending this year’s rally to 127% and pushing Tencent into the ranks of the world’s five largest corporations.

Of note: Tencent is more than just a video game publisher. It owns social messaging app WeChat, handles music distribution, movie production (Wonder Woman, Warcraft), and lots (and I mean LOTS) more.

What does it mean for us non-stock owning people? Probably nothing much except maybe prepare for Tencent mobile games until the end of time.

Surprised at this news? I know I am. Share your thoughts (and stock market prowess) in the comments below.

Source: Seeking Alpha (log-in required)