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February 23, 2012 12:32 pm GMT
As Facebooks imminent IPO became the talk of Silicon Valley and Wall Street, you might have read from the social networking sites SEC S-1 filing that it pulled in more than $1 billion in profit on revenue of $3.71 billion last year. What Facebooks prospectus will not tell you, is that the social giant has taken a page from Tencents business model, at least according to the Chinese Internet giants CTO.Xiong Minghua, Tencent's CTO, said in a speech at the ChinaBang Awards ceremony: "I visited Facebook back in 2006 and they cared a lot about Tencents business modelsespecially our micro payment, they studied it thoroughly."
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/vK3IpliX9u0/
Tencent CTO: Facebook Took a Page From Our Biz Model
As Facebooks imminent IPO became the talk of Silicon Valley and Wall Street, you might have read from the social networking sites SEC S-1 filing that it pulled in more than $1 billion in profit on revenue of $3.71 billion last year. What Facebooks prospectus will not tell you, is that the social giant has taken a page from Tencents business model, at least according to the Chinese Internet giants CTO.Xiong Minghua, Tencent's CTO, said in a speech at the ChinaBang Awards ceremony: "I visited Facebook back in 2006 and they cared a lot about Tencents business modelsespecially our micro payment, they studied it thoroughly."Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/vK3IpliX9u0/
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