Ma Huateng is one such entrepreneur who has the biggest of Internet firms in China and probably the largest. Ma Huateng is the founder of Tencent Inc. and not only the founder, he is the President, chief executive officer as well as executive board of member also. Tencent controls china’s biggest mobile instant messaging service and its subsidiaries provide media, entertainment, internet and mobile phone value-added services and also operate online advertising services in China. Other services include social network, web portals, e-commerce and multi-player online games and behind all this, one man is credited for Tencent Holdings success, Ma Huateng.
His life story.
Early life and education
Ma Huateng was born in Guangdong. In his early age, Ma Huateng dreamt of becoming an astronomer when his father got the job as a port manager where Ma Huateng accompanied him on a daily basis. Later Ma Huateng as a teenager was shifted to Shenzhen where he completed his software engineering.
After completing his studies, Ma worked at various companies such as China Motion Telecom Development Ltd. and Shenzhen Runxun Communications Co. Ltd. in the research and development department for Internet paging systems and Internet calling systems, respectively.
As it happens with most of startup stories of companies, Tencent Inc. also shares the same beginning. Ma co-founded Tencent Inc. along with his friends but after establishment the company didn’t go as per planned and Ma had to face some challenges on establishing the firm. He took up various roles ranging from janitor to website designer, in order to keep the company afloat and initially Tencent offered e-mail and internet paging services.
Success path from Tencent
Tencent launched its internet messaging service called QQ. Tencent began to offer the service as a free download In order to capture a greater market share and as a result, Tencent got its user base expansion within a year of its release.
Increased maintenance costs
The messaging services were free and thus the users grew constantly, but this led to increased maintenance costs and for this, Ma came up with a solution. He turned a profit by taking monthly fees for premium users and later Tencent began selling shares. Ma expanded their services with group messaging, news portals, e-commerce and entertainment in the shape of multiplayer online games.
Ma started providing more services for cellular phones and customized some products such as ringtones and memberships which eventually led to the expansion of the company and Tencent became the largest instant messaging service in China. Ma did not rest assured that Tencent was going to continue being successful instead he continued the expansion while retaining the core instant messaging business.
At a time when players like Apple, Facebook and Google were in search for an instant messaging app that can led to group chat was still in competition as there were no instant messaging app and they sought to provide one and in the need for one, Ma teamed up with two teams of engineers and made them compete against each other and they came up with a group chat called WeChat, the messaging platform on which millions of users are registered worldwide.
Profitable web-based corporation
Huateng’s company Tencent Inc. is known for being one of the most profitable web based corporations in China presently. At one point of time, it was deemed as “China’s answer to AOL” and ranks in the top three internet companies in China.
An enthusiast explorer
Ma considers himself as an enthusiast explorer. As per his words, he is still striving to create something really cool, something which couldn’t be imagine without new technologies and he is still clinging to this enthusiasm.
Ma believes in extraordinary wisdom to be the forerunner and excluding wealth, creating a good product will help with more satisfaction and its well received by users.